Recent EB-5 Program Updates

On December 9, 2016, the United States Senate passed a continuing resolution to fund the government through April 28, 2017, by a margin of 63-36. The continuing resolution extended several important immigration initiatives until April 28, 2017, most notably the EB5 immigrant investor program, without changes.

On Dec. 20, 2016, the Department of Homeland Security (DHS) United States Citizenship and Immigration Services (USCIS) requested that the Office of Management and Budget (OMB) review proposed changes to the current regulations to the EB-5 Immigrant Investor Program. 

The proposed changes by USCIS include measures to promote predictability and transparency in the adjudication process, enhance program integrity, clarify requirements for regional center designation, retain priority dates in certain circumstances, and streamline the adjudication process for petitions.

At a USCIS Stakeholders meeting in April 2016, DHS had stated that the rule making will include changes to minimum investment amount, job creation, targeted employment area requirements, and regional center designation.

Previous USCIS leadership has deferred such changes to the EB-5 program to Congress, but the impasse around wholistic immigration reform has prevented any action. These actions show the current USCIS leadership has assumed the responsibility for updating the program requirements. While we do not know exectly when the proposed rules will go into effect, there is a general consensus that the investment amount of $500,000 will be increasing in 2017.