U.S. Citizenship and Immigration Services (USCIS) has issued its guidance on the recent court decision vacating the EB-5 Modernization Regulations.
The agency notes that it will apply the EB-5 regulations that were in effect prior to November 19, 2019 to all future applications. However, USCIS is not currently accepting new form I-526 regional center applications due to the EB-5 Regional Center Program’s lapse on June 30, 2021. See here.
Alert: On June 22, 2021, the U.S. District Court for the Northern District of California, in Behring Regional Center LLC v. Wolf, 20-cv-09263-JSC, vacated the EB-5 Immigrant Investor Program Modernization Final Rule (PDF). While USCIS considers this decision, we will apply the EB-5 regulations that were in effect before the rule was finalized on Nov. 21, 2019, including:
- No priority date retention based on an approved Form I-526
- The required standard minimum investment amount of $1 million and the minimum investment amount for investment in a Targeted Employment Area (TEA) of $500,000;
- Permitting state designations of high unemployment TEAs; andPrior USCIS procedures for the removal of conditions on permanent residence.
- Prior USCIS procedures for the removal of conditions on permanent residence.
In other words, we are applying the regulations in effect before Nov. 21, 2019, on this website and in the USCIS Policy Manual, Volume 6, Part G, Investors. In addition, we again will accept the April 15, 2019, version of Form I-526, Immigrant Petition by Alien Entrepreneur, because the Nov. 21, 2019, version of the form reflects updates from the now-vacated rule…Continue Reading