New EB-5 Investment Amount Possible in August 2018

On May 9, 2018, the Office of Management and Budget published its spring regulatory agenda, which proposed policies that would increase investment requirements for the EB-5 Immigrant Investor Program by up to 270% and rescinding states’ ability to designate high-unemployment areas for investment. The U.S. Citizenship and Immigration Services (USCIS) indicated that it will take final action on the previously proposed EB-5 Immigrant Investor Program Modernization Rule in August 2018 .

The Department of Homeland Security (DHS) initially proposed alterations to the EB-5 program in January 2017. In particular, DHS proposed raising the minimum investment threshold for high employment areas from $1 million to $1.8 million, and from $500,000 to $1.35 million for targeted high-unemployment areas. In its justification, DHS noted that the current EB-5 program is oversubscribed and immigrant investor programs in other countries are far more expensive than the U.S. EB-5 program.

The rule also seeks to alter the process of designating Targeted Employment Areas (TEA) by removing the states’ ability to designate areas of high unemployment and exclusively reserving this power for DHS. It would also amend TEA configurations to emphasize only the census tracts in which the enterprise is principally doing business.

Individuals interested in the EB-5 Immigrant Program are advised to speak with our experienced immigration attorneys to strategize their cases going forward.

For more information, please contact the experienced immigration attorneys at Monty & Ramirez LLP at 281-493-5529 or via email at .