EB-5 Regional Center Program Reauthorized Through September 30, 2027
Effective March 15, 2022, the EB-5 Regional Center Program (the “EB-5 Program”) has been reauthorized through September 30, 2027. This is the first long-term 5-year reauthorization of the EB-5 Regional Center Program and is expected to bring stability to the EB-5 Program. Among the proposed changes to the program is that the new EB-5 investment amount will be USD $800,000 for projects located in designated Targeted Employment Areas (TEA) or $1.05 million for projects located outside of TEAs. Additionally, EB-5 investors with an immigrant visa number immediately available may now concurrently file Form I-485 Application to Adjust Status to conditional permanent residence (conditional green card). The reauthorization is expected to provide protection to the thousands of EB-5 immigrant investors who joined the EB-5 Program years ago. We anticipate that the USCIS will resume EB-5 regional center case adjudication in the near future.
Foster will continue to follow developments impacting the availability and implementation of the new EB-5 Program and will provide additional information as it becomes available via future Immigration Updates and on our firm’s website at www.fosterglobal.com. If you have questions about the new EB-5 Program please reach out to Foster LLP to schedule a consultation.