Press Release

Since the lapse of the EB-5 Regional Center program on June 30, 2021, the EB-5 industry has been in limbo regarding reauthorization of the program and the terms in which the program would be reauthorized under. The currently suspended program has in the past proven to be a pivotal immigration stream for foreign nationals seeking to obtain U.S residency for their families since the early 1990s. Not only has the program been popular amongst foreign nationals who have, at the time, the required $500,000 to inject into an approved U.S. commercial enterprise, but with each investment it provided a boost into the U.S. economy and labor market.

Up until recently the EB-5 industry has been waiting for the announcement of the new EB-5 Regional Center reauthorization bill that would reinstate the program and allow for prospective investors to start submitting their immigration process. While the program is still waiting for reauthorization to be officially announced, EB-5 lobbyists and experts have indicated that the new bill will be released on or around Friday, 11 March 2022.

The new legislation is said to renew the program for the next 5 years, which would prevent any future suspensions and delays for applications and further protect applicants for a full immigration cycle. The amended legislation will also increase capital investment to $800,000 for Targeted Employment Areas (TEA) instead of the anticipated $1,000,000 that would have positioned the program in line with the current inflation rate, and will introduce more stringent protections for investors against Regional Centers. A truly exciting time for the entire EB-5 industry.

Shai Zamanian, EB-5 expert and top EB-5 consultant in the Middle East, says “while the new terms are not completely what the industry was hoping for, the main positive outtake is that the program will be up and running again, and will bring greater equality between actual rural and higher unemployment investment zones versus metropolis investment. There too are many applicants that have been waiting for adjudication of their files and the reauthorization of the program will allow for the United States Citizenship and Immigration Services (USCIS) to restart the processing of all EB-5 Regional Center applications.”

The final EB-5 Regional Center legislation is set to be released on 11 March 2022, where industry leaders will be able to dissect and fully understand the new program amendments and how these would affect filed applications and prospective applicants. Various directly affected sectors such as Regional Centers and USCIS would also have to amend their offerings to fulfill the new legislation requirements.

Holistically this is great progressive news for the EB-5 industry and prospective investors, lifting of the suspension allows for pending applications to move forward in the system and be a step closer to obtaining their U.S. residency. Prospective investors are once again able to take control of their families multigenerational future by starting the immigration process that will secure their U.S. residency and passport.

The team of U.S. licensed lawyers at the American Legal Center are available to provide detailed insights on the program changes and guide investors to successfully submitting applications under the new legislation. For investors who missed the $500,000 window and are still interested in submitting their applications, the firm provides payment plan options to accommodate the increased capital investment.