The Office of Information and Regulatory Affairs (“OIRA”) has updated the Trump Administration’s Unified Agenda of Regulatory and Deregulatory Actions. While the Administration has been working to deregulate the federal bureaucracy, EB-5 does not seem to be in this category with advancing dates outlined below:
EB-5 Immigrant Investor Program Modernization related to updated urban targeted employment areas, increased price levels, priority date retention, and miscellaneous changes.
UPDATE: Final Action date moved forward to 02/00/2018 from 04/00/2018.
EB-5 Immigrant Investor Regional Center Program related to exemplar filing requirements, increased oversight, and regional center designation requirements.
UPDATE: Notice of Proposed Rulemaking to be released 10/00/2018.
An Increasingly Narrow Path Forward
Change to the EB-5 Regional Center Program is coming. We will see this change either through a legislative reform package in Congress or the U.S. Citizenship & Immigration Services (USCIS) will move forward with a final rule on regulations. With the USCIS Ombudsman’s Office reporting at least a 10 year wait for Mainland Chinese EB-5 applicants, it is more important than ever achieve stability in the marketplace.
IIUSA will continue to fight for the values of our members in our advocacy efforts with direction from our Policy Platform. The Platform was created in an inclusive and transparent grassroots effort by taking polling data and focus group comments from over one hundred general members, with recommendations from subcommittees to the Public Policy Committee consisting of over 40 member organizations, and finally voted on by our Board of Directors.