11/21 Welcome to the New EB-5
November 21, 2019 12 Comments
The EB-5 Modernization Regulation takes effect today, November 21, 2019. As a reminder, the USCIS EB-5 Page summarizes what’s new, the full text of the final rule gives all the detail and background of the new regs, and the USCIS Policy Manual EB-5 section contains current policy as updated by the regs. It’s possible that rules will be changed again sooner or later by legislation, but that has not happened yet. (The regional center program’s most recent authorization also coincidentally expires today. It will be extended without affecting the regulation, assuming that the Senate and President sign off on the clean continuing resolution that the House passed on Tuesday. I track developments on my Washington Updates page.)
To recap what’s new beginning today, thanks to the effective regulations:
- I-526 filed from today through 2024 are subject to a minimum investment of $1.8 million, or $900,000 in a Targeted Employment Area (TEA). After that, investment amounts will be adjusted again based on inflation.
- I-526 filed from today have different TEA issues. The definitions are more restricted, and the process has changed. It’s no longer possible to simply order a TEA designation letter from the state, and expect USCIS to defer to that letter. Instead of pre-designation by the states or DHS, TEAs get confirmed on a case-by-case basis as part of I-526 adjudication, based on data provided by the petitioner. (This post discusses the detail.)
- From today, people can have the option of filing a new I-526 while retaining the priority date of a previously-approved I-526. (This post discusses the detail.)
- From today, people who are removing conditions can enjoy some process improvements related to I-829.
And that’s all. A few simple changes, but with significant consequences. EB-5 usage will be different now that the price tag is two to three times higher than it used to be, now that urban TEAs are more limited, and now that there’s no longer a deadline to hurry investment decisions.
EB-5 Updates 
Hi Suzanne – Thanks for your updates. Will the expected decline in I-526 filings based on new EB-5 rules lead to improved prosessing time for previously filed I-526 petitions?
If USCIS processes petitions in first-come-first served order, than each person’s time should just depend on the number of people who arrived earlier, not how many or few people will arrive later. For processing times, volume of I-526 processing going forward is more important than volume of I-526 filings going forward.
Expecting the program to collapse. with a processing time ranging 4 years + 4 years for 526/829 for non chinese/ india. EB5 numbers will fall off the cliff and the entire program will be massive collapse with the new $$$$
If EB5 industry can only exist based on abandon of old investors, without foundamental moral spirit.We would rather EB5 collapse than their countinous hooking new investors!
10000 quota per year, 150000 people waiting, do you still hope them oversell?
The most important thing of EB5 industry is : “slow down and solve the exist problem first, not connive and enlarge the problem into catastrophe at last”
Hi Suzanne,
Do you expect processing time for I -526 getting better soon .
I have no reason to expect improvements soon. I still hold out some hope, though.
No One will Invest that much Even 500K is also too much
Exactly business means two parties are satisfied 900k should come with 2 week approval. 500 00 was too much for such a bad deal. It’s a bad business deal
Thx again, Suzanne, for sorting through all the nonsense to report the facts. I’m at our Vietnam office stunned at the disinformation migration agents are churning out to keep the $$ incoming. Let’s hope these critical reforms – especially our commitment to keeping true TEA/rural deals at 50% investment — withstand the ongoing efforts of Big EB-5 to defy Congressional intent and the true purpose off the EB-5 category.
CONGRATULATIONS!
Thanks for the post, Suzanne. I haven’t caught up with the newest version of the bill, but has the country-cap-removal thing been deleted from the conversation or is it not going into effect until much later?
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