Changes to EB-5 Investor Visa Program

U.S. Citizenship and Immigration Services (USCIS) announced important changes to the EB-5 Immigrant Investor Program that offers permanent residence status with investment in a U.S. commercial enterprise that creates or maintains 10 full-time jobs within the U.S.

Key Changes (Effective November 21, 2019)

• Standard investment increased from $1 million to $1.8 million
• Targeted Employment Area (TEA) investment increased from $500,000 to $900,000
• Investment amounts will be raised every five years based on inflation
• Clarified USCIS procedures for removal of conditions on permanent residence
• EB-5 petitioners can retain their original priority date

Changes to TEA Designation

The changes in requirements for qualifying as a TEA include:

• Cities and towns with a population of 20,000 or more outside of a Metropolitan Area may qualify as TEAs based on high unemployment
• If a new commercial enterprise is located in several registered areas, adjacent areas may be added as long as the average unemployment rate is at least 150% of the national average
• USCIS now has exclusive authority to designate TEAs (removed from states)

Priority Date Retention

The Rule states that there will be no loss of an investor's immigrant visa priority date if there are any revisions to the project documents that may be required as a result of investor disclosures under the laws due to the changes in the EB-5 program.

Grandfathering

The Rule expressly states that petitions filed before the effective date will be regarded based on the eligibility standards in effect as of the date when the petition was filed. Investors who both invested and filed their petition prior to November 21 would fall under previous rules.

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