U.S. Citizenship and Immigration Services (USCIS) announced significant changes to the EB-5 Immigrant Investor Program that provides permanent residence status with investment in a U.S. commercial enterprise that creates or, in certain circumstances, preserves 10 full time U.S. jobs. Applications submitted prior to the November 21, 2019 effective date will be processed under current EB-5 regulations. EB-5 changes effective on November 21, 2019 include:
- Increased minimum investment amounts:
- Standard investment increase from $1 million to $1.8 million
- Targeted Employment Area investment increase from $500,000 to $900,000
- Revised standards for Targeted Employment Area designations
- Department of Homeland Security (DHS) authority to designate high unemployment Targeted Employment Areas
- Priority date retention allowing use of earliest EB-5 qualifying priority date
Please contact your Varnum immigration attorney if you have any questions about the EB-5 Immigrant Investor Program and would like to file prior to the increased investment requirements.