On March 15, 2022, President Biden signed into law the EB5 reform and Integrity
Act of 2022.
The major changes regarding the EB5 investor based green card for the US include:
1/ The reauthorization of the EB5 regional center program until September 30, 2027.
This program allows passive pooled investment into regional centers authorized
by the US Government and can invest in commercial projects, including real estate.
The passive investment will be permitted into infrastructure projects that
will be administered by US Government agencies under the new law.
2/ The new EB5 law allows the US citizenship and immigration services to
resume processing pending EB5 regional center petitions that were filed
under the previous regional center program, which expired in June 2021.
3/ The minimum investment amount increases from 500,000 USD to
800,000 USD for projects located in high unemployment areas or rural areas.
For projects located in urban areas or low unemployment areas,
the investment amount increases from 1 million USD to 1,050,000 USD.
4/ The new EB5 law allows for the simultaneous filing of EB5 petitions with
adjustment of status applications.
This will allow the investors to obtain work authorization and
travel documentation while the EB5 case is pending.
5/ The new law sets aside 32% of the annual EB5 immigrant green card
quota for certain EB5 projects.
20% are set aside for projects in rural areas. 10% are set aside for
investments in high unemployment areas. 2% are set aside for
qualifying infrastructure projects that US Governmental entities will run.
6/ The regional center programs will be required to file extensive
disclosures and have new reporting obligations to both the US
citizenship and immigration services and the EB5 investors.
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