As expected, the Department of Homeland Security this morning published a new EB-5 regulation known as a “final rule.” (Click here to see the regulation.) While we are still reviewing the contents, here are some key changes:
1. Increasing investment amounts – $900,000 for Targeted Employment Area (TEA) / $1.8MM for non-TEA:
2. Revising the standards for certain TEA designations:
3. Clarifying USCIS procedures for removing conditions on permanent residence:
4. Allowing EB-5 petitioners to keep their priority date:
This new rule will go into effect November 21, 2019. You have approximately 120 days to get in at the $500,000 level. This will be the new standard for the EB-5 program going forward barring legislative action. Based on our conversations with our advocates and allies in Washington, D.C., we expected this to become regulatory policy and prepared ourselves for such. For prospective investors weighing an EB-5 investment under current rules, you have a limited window in which to act.
Please don’t hesitate to reach out to us if you need further clarification on how this might affect you.
Daniel J. Healy
CEO, Civitas Capital Group