The EB-5 green card program was created with the aim of attracting foreign investment in the U.S. and lately has become popular with high-net-worth individuals seeking expedient permanent residency. Although this program was not as smooth as one had hoped for, certain losses through malpractices from regional centers or project failures have befallen a few investors. Due to this and other pertinent reasons, the USCIS of the U.S. has revisited its policy to better protect and allow flexibility for real and honest investors who participate in the EB-5 program.
USCIS Policy Update for EB-5 Investors
The updated USCIS policy manual is very important, especially for good faith investors. In this respect, such actual participants in the EB-5 program with good faith are now rescued from the loss of eligibility towards a green card because of events presumably outside their control, such as the debarment or termination of regional centers or new commercial enterprises. The new policy targets fraud protection of investors, under which even when unforeseen problems arise, eligibility for a green card is safeguarded.
In the words of Carolyn Lee, an experienced immigration attorney who has years of experience dealing with investment-based visas, actual benefits lie in keeping their priority dates, protecting them from “age-out” scenarios for their children, and protection against material changes that might jeopardize their cases. This is a giant leap forward toward assuring safety to otherwise rule-abiding investors.
EB-5 Reform and Integrity Act, 2022: Safeguarding the Program
Many of these new reforms target increasing program transparency and compliance. The bill also protects legitimate investors who participate in the EB-5 program from unfair judgment due to the actions of others. More importantly, the new guidance clarifies that those who had actual knowledge of fraud involvement will not be protected by section 203(b)(5)(M) of the INA.
Furthermore, if a regional center is terminated or debarred, investors can now re-associate their NCEs with another regional center which may be anywhere in the United States. The above seems to give an investor an opportunity to continue an unrestricted pursuit of a green card without losing ground, thus providing much-needed protection against external disruption.
EB-5 Investment Requirements and Route to Green Card
Under the EB-5 program, investors are required to make a minimum investment of $800,000 in the TEAs or infrastructure development. However, for projects located outside the TEAs, the minimum is $1,050,000. Additionally, their investment should be expected to create at least ten jobs to qualify for a green card. For most investors, indirect investments through regional centers will do because they have started initiating projects such as constructing hotels or commercial developments.
Despite the intricacy of the EB-5 program, the program remains highly attractive to high-net-worth individuals, particularly those from India, China, and Vietnam. This demand is not expected to abate with the annual cap estimated to be around 10,000 visas and the country-specific limits imposed.
Conclusion: Safeguarding Genuine Investors under the EB-5 Program
Such USCIS policy changes are a positive step for honest EB-5 investors. The U.S. government is reiterating its commitment to making the EB-5 program a reliable pathway to permanent residency by offering protections against fraud and misconduct against the investments and efforts of investors.
