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Here’s a closer look at the latest EB-5 Program updates and news.
EB-5 Program Processing Times
These are the latest petition processing times at the Immigrant Investor Program Office.
- I-526 Immigrant Petition by Alien Entrepreneur processing time is 27.5 to 46.5 months.
- I-829 Petition by Entrepreneur to Remove Conditions on Permanent Resident Status is 27.5 to 46.5 months.
- I-485 Application to Register Permanent Residence or Adjust Status processing times depend on the location of the office. To see the locations, visit here.
EB-5 September Visa Bulletin
While the final actions dates for Mainland China and Vietnam only advanced one week, the final action dates for India advanced years. All other countries remained current. Mainland China’s dates for filing also advanced one week. To see the September visa bulletin charts, visit here.
EB-5 Regional Center Program Sunset Date
The EB-5 Regional Center Program is set to expire on September 30, 2019, unless it is reauthorized. If Congress acts this month to finalize the appropriations bill, the EB-5 Program will be reauthorized with it. Congress, does not have a good track record of finalizing appropriations bills and is more likely to use a continuing resolution (CR) to push back the deadline several months. The EB-5 Regional Center Program will then likely be extended under the CR.
The EB-5 Regional Center Program needs continuing re-authorization until Congress decides to make it a permanent program. The EB-5 Direct Investment Program, however, is permanent and is not at any risk.
EB-5 Regulation
The EB-5 Modernization regulation is set to go into effect on November 21, 2019. It makes major changes to the program’s minimum investment amounts as well as its targeted employment area designations.
On November 21st, the minimum investment amount for targeted employment areas will increase from $500,000 to $900,000. The minimum investment for non-targeted employment area projects will increase from $1 million to $1.8 million.
On November 21st, targeted employment area will no longer be designated by states. Their designation will be the authority of the Department of Homeland Security.
To read about the impact these changes will have on EB-5 investors, regional centers and EB-5 industry professionals, visit here.
EB-5 Program Listening Session
USCIS is inviting the public to participate in a listening session to discuss the EB-5 Immigrant Investor Program on Monday, September 9, from 2-3pm EST. They are allowing the public to submit questions and comments on the EB-5 Program. It’s also an opportunity to hear more updates on the program. You can register for this engagement by visiting here.
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