As we previously discussed, United States Citizenship and Immigration Services (USCIS) proposed substantial changes to the EB-5 regulations on July 24, 2019. The “EB-5 Immigrant Investor Program Modernization Rule” is scheduled for implementation on November 21, 2019. It appears that the Administration will apply the rule, as written, unless Congress acts to stop it.
On August 20, 2019, U.S. Senator Rand Paul, a long-time supporter of the EB-5 program, sought to block implementation of the changes through a Congressional Review Act resolution. In a Letter to Colleagues, he wrote:
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