EB-5 Reform and Integrity Act of 2022

H.R.2471 – Consolidated Appropriations Act, 2022 was enacted on March 15, 2022.

This means that the Regional Center program has new approvals and requirements starting on May 15, 2022, and other EB5 program changes took effect on March 15, 2022.

For thousands of EB5 applicants and their families who have been in a state of uncertainty since July 2021, it is great news that Congress has approved a broad spending bill, including re-approval of the  EB5 Regional Center program.

 

The Senate approved a $ 1.5 trillion package with a 68-31 vote. President Biden signed the law and this is formal.

 Some of the main changes in the new law are:
  1. Investment amounts: The minimum investment in eligible employment areas (rural or highly unemployed areas) is currently $ 800,000. Standard or non-TEA investments are $ 1,050,000.
  2. Special privilege for past investors: The bill maintains eligibility of all pre-enactment investors, as of when they filed their I-526, for both I-526 and I-829 processing.
  3. EB-5 regional center reauthorization: The program is authorized for more than five years until September 30, 2027.
  4. Priority processing for rural investments: Investments made into a rural area will have faster processing.
  5. TEA changes: High-unemployment areas use the more strict criteria from the 2019 regulations.
  6. Regional center requirements: The law provides more protection to the investor, including annual reports, notice of material changes, general certification of securities and other compliance, and disclosure of all marketing and promotional expenses paid.
  7. Redeployment: If a reinvestment is required before the investor’s conditional permanent residence is complete, this is now permitted anywhere in the United States (previously it had to be reassigned in the heart of the region).
  8. Investor protections: Investors can proceed with alternative investments if the regional center, new company, or job creation facility closes.

 

When do the changes happen?

 

Regional center reauthorization and new requirements will begin 60 days after enactment of the legislation. New I-526 regional center filings must wait at least 60 days as well.

New investment amounts are effective immediately upon execution.

I-526 processing should occur upon the execution of the legislation. Section 6 of the legislation mandates that within a year, USCIS will conduct a fee study and then charge fees sufficient to ensure efficient processing.

 

How we can help you

 

Participation in the EB5 program requires a considerable investment. This requires the support of an experienced and dedicated team.

With years of immigration experience, The Law Offices of Kameli & Associates can be the best companion in obtaining a U.S Green Card through the EB5 program.  We help you obtain a complete and accurate overview of the program and information about the various alternatives available.  In this way, you can be confident that you are on the right path. We also advise and coordinate with other service providers on the preparation of the required documentation so that the EB5 petition is fully prepared and submitted to USCIS.

 

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