On Friday, January 13th, U.S. Citizenship and Immigration Services (USCIS) published a proposed rule for modernizing the EB-5 Immigrant Investor Program. The proposed changes include increasing the minimum investment amount from $500,000 for Target Employment Areas (TEA) to $1.35 million and from $1 million to $1.7 million or regular direct investments. USCIS is also proposing to establish priority date retention, to reform the TEA designation process, and more. USCIS will be accepting public comments on the proposed rule until April 11th, and the proposed rule is expected to go into effect on April 27, 2017, when the current program expires.
Please contact Attorney Jennifer Dulay Mizulski with further questions and to schedule a consultation.