The controversial EB-5 program, which issues green cards to "alien entrepreneurs" who invest in projects that create at least 10 full-time jobs, faces more uncertainty with a new administration at the helm and a recent proposal to introduce some changes.
Earlier this month, about a week before Donald Trump's inauguration, the Department of Homeland Security proposed increasing the minimum investment amount required for the EB-5 program to $1.35 million in a "targeted employment area," up from $500,000 currently. A targeted employment area is an area with high unemployment or a rural area. The proposal suggests raising the minimum investment to $1.8 million for developments in low- to average-unemployment areas, up from the current $1 million.
The proposal also seeks to change how a "targeted employment areas" (or TEA) is determined. The power to define what is a TEA now lies with the states but the Department of Homeland Security suggests taking on that task.
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