Update on the EB-5 Regional Center Program

Sep 30, 2021 | Investor Visas

September 2021 will come and go without a reauthorization of the EB-5 Regional Center Program, leaving over 85,000 foreign nationals in immigration limbo after investing a minimum of $500,000 into the U.S. economy.  Since the program lapsed on June 30, 2021, the EB-5 Industry has made efforts to spare current EB-5 Regional Center investors the headaches that have occurred due to the cycle of short-term reauthorizations by coming to a potential agreement on reforming and extending the Regional Center Program for multiple years.  Nevertheless, it appears that the U.S. Congress will seek to finalize legislation on the EB-5 Regional Center Program by December 3, 2021, the date that the federal government continues to run towards in the currently proposed “Continuing Resolution”. 

USCIS has not released anymore guidance regarding the current Regional Center Program lapse, aside from what WR Immigration posted in early July.  Two big unanswered questions are: (1) Will USCIS continue to adjudicate interim benefits (work and travel authorization) for pending adjustment applicants based on an approved Regional Center Form I-526, and (2) How long will USCIS continue to hold pending Regional Center Form I-526’s in abeyance without further reauthorization?  We do not have the answer to the second question, and USCIS refuses to answer the first publicly.  It has been noted in litigation and advocacy efforts through the American Immigration Lawyers Association that USCIS will again begin to adjudicate Form I-765s and Form I-131s for pending adjustment applicants based on an approved Regional Center Form I-526, but our firm has not yet received an adjudication in months. 

Regarding the actual reauthorization of the Regional Center Program, there have been dozens of extensions in the past by USCIS.  It appears the EB-5 industry is united, and its goal is to attach the new EB-5 law to a “must pass” piece of legislation like an Omnibus budget. Watching the U.S. government (or any government) work through politics is unpleasant, and it sems the mood on Capitol Hill is ugly, with Democrats and Republicans seeking more power as opposed to working together. 

EB-5 investors may feel at loss on what to do, but there are some options.  For those in the United States, contact your congresspeople or senators and advocate for the U.S. government to hold up their end of the bargain based on your EB-5 investment.  For everyone, a new EB-5 investor-led advocacy group called American Immigrant Investor Alliance has taken the lead to protect existing investors by seeking congressional support on its Foreign Investor Fairness Protection Act (“FIFP”), which would require current applications and pending petitions be processed by USCIS on the basis of the law and regulations in place at the time they were submitted.

WR Immigration remains confident of reauthorization of the EB-5 Regional Center Program and is hoping to see meaningful reform and extension in the coming months.

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EB-5 Investor Program — January 2022 Update

Yesterday, the U.S. government filed an “Unopposed Motion for Voluntary Dismissal” in the U.S. Court of Appeals for the Ninth Circuit on their appeal of a June 2021 decision of a lower district court that invalidated the implementation of the November 2019 EB-5 Modernization Rule. That rule had raised the minimum investment amount from $1 million to $1.8 million and, from $500,000 to $900,000 for targeted employment areas (TEAs). Reducing the investment amount is welcome news for the EB-5 industry that has been stymied by this regulation. Most importantly, this withdrawal of appeal confirms the minimum investment for investors who create ten jobs in a Targeted Employment Area (TEA) is back to $500,000.  It also confirms that states have the authority to designate areas as a TEA.  This decision has no impact on the reauthorization of the EB-5 Regional Center program. EB-5 investors should know this dismissal does not impact the two biggest issues in EB-5, that is the Regional Center  reauthorization, or whether USCIS will continue to hold pending Regional Center I-526s or I-485s in abeyance until reauthorization. We hope to have some news on these two issues soon, so stay posted. At this time, “direct” EB-5 remains an […]

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