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Washington, D.C. – On July 29, 2025, the United States District Court for the District of Columbia issued an order in IIUSA’s case against USCIS asserting the government unlawfully promulgated a rule limiting the necessary EB-5 investor “sustainment period” to not less than two years.

IIUSA is excited to report its efforts have finally forced USCIS to represent to the Court that it will, in fact, properly seek notice and comment about this rule as well as all other matters to be regulated for the Reform and Integrity Act (RIA).

To that end, USCIS committed to providing a Notice of Proposed Rulemaking by this November 2025. The Court’s order specifically states that, “USCIS confirmed twice…that it plans to publish the results of the [Notice of Proposed Rulemaking] process in November 2025.”

IIUSA President Bill Gresser commented, “This case is about ensuring that USCIS follows the law and doesn’t regulate the EB-5 program via website post. The agency has now assured the Court it will commence formal notice-and-comment rulemaking in November 2025, and IIUSA looks forward to participating in that process. As the industry trade association, IIUSA is committed to ensuring that USCIS implements the EB-5 Reform and Integrity Act and regulates the EB-5 program in compliance with the statutes mandated by Congress.”

For its part, the Court accepted the government’s promise to properly promulgate rules for the RIA and is holding off on any further rulings pending the government’s actual release of the NPRM. The Court further required the parties, “to provide a joint status report in 90 days and every 60 days thereafter, or until further order of the Court.”

The new report, developed independently by researchers and economists at Fourth Economy, shows the EB-5 program generated $75.2 billion in private investment, created 1.7 million American jobs, contributed $184 billion to GDP, and raised $14.5 billion in tax revenues from 2016 to 2019 alone — all at no cost to U.S. taxpayers. The EB-5 program’s impact was felt nationwide, with states like California, New York, Texas, and Florida seeing billions in investments and hundreds of thousands of jobs created.

Additionally, data analysis shows that each EB-5 investor created 45 American jobs, and that every $500,000 invested generated an additional $1.6 million in private capital beyond the required investment, demonstrating the program’s powerful multiplier effect.

Upcoming IIUSA EB-5 Event Passport Series:

We look forward to returning to key markets in East Asia this fall. We invite prospective investors and international stakeholders to join us for these important events to meet with some of the leading organizations in U.S. investment immigration.

Scheduled Stops:

• Taipei | 14:00-21:00 | October 14 | Shangri-La Far Eastern
• Shanghai | 14:00-21:00 | October 16 | JW Mariott Shanghai Tomorrow Square
• Seoul | 09:00-15:00 | October 20 | Josun Palace

EB-5 Experts Webinar Series:

IIUSA’s Q3 webinar will be a 2-for-1 where EB-5 experts will address the impending grandfathering deadline on September 30, 2026, as well as the newly announced age-out policy by USCIS.

With just one year to go before the grandfathering deadline, EB-5 government affairs and policy experts will discuss what IIUSA is doing to help solve the issue that more or less brings the EB-5 program to a standstill, a full year before the reauthorization deadline.

The second half of the webinar will welcome two additional EB-5 expert speakers to talk about the new age-out policy that USCIS announced in August. Hear how this is affecting the Program and what it means for future investors and their families.

Join IIUSA for the 16th Annual IIUSA EB-5 Industry Forum and the 21st Annual IIUSA Membership Meeting, April 29–May 1, 2026, in Washington, DC.

As the EB-5 industry’s premier U.S.-based event, the IISUA EB-5 Indutry Forum brings together stakeholders from across the globe for three days of education, networking, and advocacy. We’re especially excited to host the 2026 Forum in our nation’s capital—home to key decision-makers and a thriving EB-5 investment landscape.

Highlights from the 2025 Forum can be found here. 

Through promotion of the EB-5 program, our mission is to bring economic growth and vitality to the American economy. We strive to cultivate quality, family-sustaining jobs, collaborative investment opportunities, and economic renewal in American communities that need (and welcome) fresh energy and investment through our members’ engagement in the EB-5 industry.

Our members facilitate opportunities for qualified international investors to play an essential role in revitalizing towns, cities, and regions within the United States. EB-5 investments work to generate new jobs and breathe life and optimism into American communities seeking real, measurable, economic advancement.