By Joseph Barnett and Bernard Wolfsdorf The EB-5 Reform and Integrity Act of 2022 brings the immigrant investor program back to life. The May 2022 Visa Bulletin has just been published and it lists new fifth-preference visa categories as follows: A. DIRECT EB-5 CURRENT FOR ALL COUNTRIES, INCLUDING CHINA All countries are current under the 5th preference direct program – so-called “Unreserved (C5, T5, and all others) are now open. This includes China. B. REGIONAL CENTER EB-5 CURRENT FOR ALL COUNTRIES, EXCEPT CHINA STUCK AT 22NOV15 C. NEW SET ASIDE CATEGORIES CURRENT FOR ALL COUNTRIES, INCLUDING CHINA As of March 2021, 32% of all EB-5 visas are reserved as follows: 20% reserved for qualified immigrants who invest in a rural area; 10% reserved for qualified immigrants who invest in a high unemployment area; and 2% reserved for qualified immigrants who invest in infrastructure projects. Any unused “set aside” visas are to be reserved for a maximum of two years. The remaining 68% are unreserved and are allotted for all other qualified EB-5 immigrants. IMPACT OF EB-5 CURRENT CATEGORIES Persons lawfully in the U.S. (or even certain 245(k) persons out of status by up to 180days) can file I-485 adjustment of […]
