Is a Final Rule Coming on Changes to EB-5, Including Increases to Investment Amount?

 

The answer: Maybe. We are closer to this happening than we ever have been.

Currently, any change to the US$500,000 minimum investment amount (proposed increase to US$1,350,000) would require the publication of the Final Rule for the related “EB-5 Immigrant Investor Program Modernization” regulation. This is currently on the “Fall 2018 Unified Agenda action dates,” but may or may not occur in November. In the past, the timetable for government action on the same regulation has been: February 2018 and August 2018. In both cases, the relevant U.S. agency, the Department of Homeland Security did not take any action and did not publish as per its publication timetable.

In addition, USCIS Director Lee Cissna, speaking in October, did not appear to think that the “EB-5 Modernization” regulations were on the brink of finalization. He said: “We’re just not ready yet. We’re still working on it.”

It’s good to note that even if the relevant regulation is published in November, it should (as a non-major rule) take effect not less than 30 days after publication and this could even be extended longer than 30 days.

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