Back to Top skip to main content
Green and Spiegel - An Immigration Law Firm
Feb 25, 2019

New EB-5 Regulations Expected Soon as USCIS Finalizes Rule and Sends Text to OMB

Matthew Galati

For over two years, we’ve extensively covered USCIS’ proposed EB-5 Modernization Rule. On Friday, February 22, USCIS formally completed its revisions to the proposed rule via the notice and comment process, sending its draft of the Final Rule to the Office of Management and Budget (OMB). There is no published timetable for OMB’s assessment and publishing of the Final Rule into the Federal Register.

As proposed, the EB-5 Modernization Rule would raise minimum investment amounts to at least US $1.35 million, sharply curtail which locations could qualify as a “Targeted Employment Area”, centralize the TEA designation process, and make a variety of other technical edits. We opposed significant portions of the rule. We also heavily criticized USCIS’ mistaken facts when comparing justifying its proposals to Canadian programs. Virtually all of the EB-5 industry’s stakeholders opposed the draft rule as written.

The time frame for substantive change to EB-5 remains uncertain, as do the ever-present prospects of preemptive legislation. The exact substance of changes is also unclear at this time; although it is virtually certain that minimum investment amounts will rise sharply. There is also likely to be a delay between the publication of the new regulations and when they will go into effect.

However, interested EB-5 investors might be best served by commencing the immigration process as soon as possible to take advantage of current rules. Contact us today for more information relating to investment immigration.

Related Team

Recent Blogs

Feb 02, 2020

U.S. Imposes Travel Restrictions and/or Quarantines on Recent Visitors to China

According to President Trump’s Proclamation, as of 5:00PM EST on February 2, 2020, the United States will severely prohibit the entry of immigrants and nonimmigrants traveling to the United States within 14 days of having been physically present in mainland China. Learn more in this blog.

Nov 22, 2019

Green and Spiegel Secures Grenadian E-2 Visa for Chinese Client

As a firm dedicated to representing investors and entrepreneurs from around the world, we try to find creative solutions to enable our clients to secure their dreams in the U.S., especially when those options are not readily apparent. We recently had the pleasure of representing Mr. M.L., a successful Chinese businessman who wanted to open an educational company in a major Northeastern U.S. city. Because there is no treaty, ML utilized the Grenada Citizenship by Investment option whereby he was able to secure a passport. Learn more in this blog.

Oct 28, 2019

Matthew Galati To Represent Green and Spiegel LLC at the Seattle 2019 IIUSA Industry Forum

Immigration attorney Matthew Galati will represent Green and Spiegel LLC as he joins Breakout 4, USCIS Policy & Actions: Living in a World of Adjudication Backlogs, RFEs, and NOIDs panel on Tuesday, October 29th at 3:30pm. Learn more in this blog.