EB-5 Reform and Reauthorization/Highlights from newly-passed EB-5 Reform and Integrity Act of 20223/22/2022 After months of waiting, the Congress finally acted on the EB-5 program. Yes, the EB-5 Regional Center (RC) Program is now extended for 5 years through September 30, 2027, the longest term authorization since 2015!
Besides that, the EB-5 Reform and Integrity Act has a few more exciting highlights that are both beneficial to both existing and new investors.
Previously, I-485 application can only be filed after the investor’s I-526 is approved. The new EB-5 Reform and Integrity Act of 2022 now allows I-485 application to be filed along with or while pending adjudication of the investor’s I-526 petition. The new concurrent filing rule may not be too beneficial to the China-mainland born investors with RC affiliated I-526 petitions as the 2022 EB-5 Act does not affect the current prolong visa wait-line for them. Yet, China-mainland born investors with direct investment may still be able to enjoy the concurrent I-526 and I-485 filing benefit.
• RC program & Targeted Employment Area (TEA): going from $500,000 to $800,000 • Non-Targeted Employment Area (non-TEA): going from $1M to $1,05M Taking into about the mere 250K spread, and the new concurrent filing rule, direct investment may be strategically more beneficial to potential Chinese investors who are now in the U.S. with lawful status. Please contact Law Offices of Sabrina Li for more information.
Should Congress fail to re-authorize the EB-5 regional center program after September 30, 2027 (the 2022 Act’s expiration date), DHS shall continue process and adjudicate RC-affiliated petitions filed on or before September 30, 2026. The new EB-5 Reform and Integrity Act of 2022 also covers other important change/addition to the previous EB-5 rules such as redeployment of capital, job creation requirement, reserved visas. For more information on how the 2022 Act will impact the EB-5 industry, please contact Law Offices of Sabrina Li.
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