Vicki Li of Klasko Immigration Law Partners The Current State of the EB-5 Immigrant Investor Visa Program
The EB-5 immigrant investor visa program has been turbulent the last few years. The first major change requires a look back in November 2019 when the U.S. Citizenship and Immigration Services (USCIS) increased the required investment amounts from $500,000 in a TEA (targeted employment area) and $1 million in a non-TEA to $900,000 and $1.8 million, respectively.
December 15, 2021 at 01:08 PM
6 minute read
The EB-5 immigrant investor visa program has been turbulent the last few years. The first major change requires a look back in November 2019 when the U.S. Citizenship and Immigration Services (USCIS) increased the required investment amounts from $500,000 in a TEA (targeted employment area) and $1 million in a non-TEA to $900,000 and $1.8 million, respectively. This increase was almost immediately challenged with litigation in federal court. In June 2021, a federal court found that the increase in investment amounts was invalid, thereby reducing the minimum investment amount for TEA projects back to $500,000. The court also found the change in the definition of a TEA to be invalid. This ruling was made only days prior to the expiration of the EB-5 Regional Center program on June 30, when Congress did not timely reauthorize the program, resulting in the current lapse of the EB-5 regional center program.
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