Two weeks ago on November 21, 2019, the EB 5 Modernization Regulation went into effect, changing two major aspects of the EB-5 program. Interested investors looking to obtain U.S. green cards through the EB 5 Program should be aware of the following changes made to the program:
- New USD 900,000 Investment Amount (Increased from USD 500,000)
The new regulation increased the minimum investment amount for targeted employment area (“TEA”) projects to $900,000 and to $1.8 million for non-targeted employment area projects. Despite this taking effect, the EB-5 visa continues to hold exceptional value.
- Targeted employment area (TEA) change
States can no longer issue TEA designation letters. The authority to designate a TEA is now in the hands of the Department of Homeland Security (“DHS”). Additionally, investors will now need to provide evidence showing that the project they’re investing in is in a TEA eligible area in order to qualify for the lower EB-5 minimum investment amount.
Read more about the changes in TEAs here: Changes to EB-5 Targeted Employment Area (“TEAs”) Designations.
Other than a few additional minor changes, the rest of the EB 5 Program remains the same. Investors first select a viable EB-5 project and then work with an immigration attorney to file the I-526 Immigrant Petition by Alien Entrepreneur.
While not every EB-5 platform is created equal, we would welcome the opportunity to share more about how we strive to create a safe and sustainable EB-5 model that can address some of the concerns about the immigration process. If you’d like to learn more about how our group can assist you in determining whether the U.S. EB-5 program would be a good fit for you and your family, please contact us here or email us at email@example.com.