USCIS Guidance for Regulations | EB-5 Updates

Aug 2, 2021

USCIS has finally reacted to the court decision on the EB5 Modernization Regulation, with an Alert and note published at https://www.uscis.gov/working-in-the-united-states/permanent-workers/eb-5-immigrant-investor-program

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; and

–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.

The USCIS main page has a slightly different 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. We will apply the EB-5 regulations that were in effect before Nov. 21, 2019, and accept Form I-526 petitions filed on the April 15, 2019, version, which is the only form that DHS updated as part of the vacated rule. DHS, along with the Department of Justice, is reviewing the court’s ruling and is considering all judicial and administrative options for preserving important changes made by the vacated regulation. For more information, see the EB-5 Immigrant Investor Program page on our website.

 

***this post was originally posted on blog.lucidtext.com***

This content was originally published here.

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