Today, Thursday, November 21, 2019, the final rule which makes regulatory changes to the EB-5 Regional Center Program went into effect after the 120 waiting period of the final rule being published.
The final rule, which can be read in its entirety here, makes several changes to the program. Of most importance, the final rule includes the following changes:
- Increases investment amounts from $500,000 and $1,000,000 to $900,000 and $1,800,000 respectively;
- Maintains priority date for investors who must refile for circumstances outside of their control; and
- Changes the TEA qualification and designation process.
In the months since the final rule was published, IIUSA has posted several Member Perspectives and other resources on the topic. These resources are linked below. If you have questions about how these changes will affect you or your business, you are encouraged to contact your legal counsel.
- EB-5 Policy Manual Update
- TEA Designations: Final Rules Leaves Many Questions and Risks – By Michael Kester
- The New EB-5 Regulations: Modernization or Regression? – By Bernard Wolfsdorf
- The Rush is On – By Robert C. Divine
- 8 Ways EB-5 May Change Post November 21 – By Abbas Hashimi
- EB-5 Implications from IIUSA Conference Leading up to November 21 Effective Date of Regulations – By Robert C. Divine
- USCIS Listening Session on New Regulations
IIUSA continues to monitor and analyze how these new changes do and continue to affect the EB-5 industry and we continue to work towards achieving long-term reauthorization and meaningful reform to the Program through legislation.