EB-5 Regional Center Program Authorization
The EB-5 Regional Center Program, which was suspended since June 30, 2021, will restart. The U.S. Congress included in the government spending bill the authorization and reform of the EB-5 Regional Center Program, referred to as the “EB-5 Reform and Integrity Act”.
After nearly 8.5 months in lapse the EB-5 Regional Center Program may be authorized until September 30, 2027 – with the following significant changes, among others:
Investment Amounts
Investment amounts would increase to $800,000 in Targeted Employment Areas (TEA’s), geographic areas designated by the appropriate government authority as priority high-unemployment areas, and $1,050,000 in non-TEAs with investment amounts adjusted for inflation every five years starting January 1, 2027.
Concurrent Filing of EB-5 Petition and Application to Adjust Status
Investors in the United States will be able to concurrently file their EB-5 petitions along with their application for a “conditional” green card, which adjusts status from a “non-immigrant” to a conditional permanent resident if a visa is available.
“Grandfathering” Existing Investors
If Congress fails to authorize the EB-5 Regional Center Program after its expiration September 30, 2027, DHS shall continue to process petitions filed on or before September 30, 2026 – preventing a repeat of what has happened to existing EB-5 regional center investors since June 30, 2021.
By Chris Costa, Senior Associate at Drummond Advisors, and Matheus Etrusco, Associate at Drummond Advisors via Drummond Advisors