If lawmakers take no action soon, the EB-5 Visa program could face extinction, as after April 28, the temporary extension that’s keeping the program alive will expire. The merits of both program reforms and another temporary extension are being discussed by the parties involved, sources say. But in light of what’s been brewing lately in terms of EB-5 talks, not everyone will leave the negotiations table satisfied.
On January 13, the U.S. Department of Homeland Security (DHS) and U.S. Citizenship & Immigration Services (USCIS) issued a notice of proposed new regulations for EB-5, with comments required by April 11.
Among the proposed changes are: increases to the standard minimum investment amount (to $1.8 million) and the minimum Target Employment Area (TEA) investment amount (to $1.35 million), as well as a reclassification of how TEA centers themselves will be defined. Furthermore, every five years, the investment amounts will be subject to inflation increases based on unadjusted CPI-U. TEA areas will be designated by adding cities and towns, not counties, and could even consist of Census tracts.