Immigrant Investors in the U.S. are happy that the Regional Center EB-5 program has been reauthorized. The program was in limbo for over 9 months and has finally been revitalized. The EB-5 program allows investors to obtain a green card if they invest a certain amount in businesses or projects that will create 10 full time jobs.
You can find out more about the EB-5 program by clicking here.
You can see our YouTube Webinar on the EB-5 program and changes by clicking here.
Key Changes to EB-5 Program
The Key Changes to the program were implemented on March 11, 2022, and are as follows:
- Increase of minimum investment amount from $500,000 to $800,000
- Maximum investment amount slightly increased to $1,050,000
- Change of TEA rules that make it harder to qualify for the lower amount
- Program reauthorized until Sept. 30th 2027
- New filings will start in 60 days
- Filings before Sept. 30th 2026, will be adjudicated in the future so that this same issue does not occur again
- 32% of visas set aside for specific types of EB-5 projects
- 20% of EB-5 visas for rural areas
- 10% for high unemployment areas
- 2% infrastructure projects
- Applications filed before June 30th, 2021with the lower investment amount of $500,000 will be adjudicated
- Ability to file an I-485 petition concurrently with an I-526
- Ability to file for work authorization
- Ability to file for Travel Authorization
- Source of funds extension to administrative fees (legal, regional center and filing fees)
- Clarification of loans and gifts
EB-5 Process and Timing
The EB-5 process involves some key steps as outlined below:
|Petition Filed||Description||Timing for Adjudication|
|I-526||Petition that shows investor invested the required funds and proof that the project can create 10 jobs. This is also where source of funds is assessed.||2-3 years. The timing on the USCIS website can exceed 4 years. Often clients will sue the U.S. Government through a Mandamus petition to prompt faster adjudications.|
|I-485||This is the green card procedural part of the EB-5 process. The I-485 is filed for all green card petitions when you are in the U.S. Based on the new rules, this petition can now be filed concurrently with the I-485 as long as the visa category is current. This was a significant change.||This will not be approved until the I-526 has been approved and would likely take at least 1 year after the I-526 approval.|
|I-765||Work Authorization – this petition gives you the ability to work while in the U.S. once approved.||If you file an I-485, you can file an I-765 petition concurrently also.
Timing 6-8 months if filed without Advance Parole
Timing can take 1 year if you file together with the I-131.
|I-131||Travel Authorization – this petition gives you the ability to travel once approved.||If you file an I-485, you can file an I-131 petition concurrently also.
Timing of 3-4 months if filed without EAD
Timing can take a year if you file together with the I-765
|Consular Processing||If you are outside of the U.S., you would Consular process once your I-526 has been approved to obtain the green card.||Timing 6-12 months depending on the Consulate|
|I-829||When your green card is approved, it is approved for 2 years. After 2 years, you must file to have the conditions removed.||Timing 4-6 years but you can continue to receive the green card benefits while waiting.|
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