Changes that will happen in EB-5 laws post-November 21, 2019

The United States Congress has provided a fast-track route to the U.S. Green Card for the applicants in order to promote economic growth. Under the Immigration Act of 1990, the EB-5 or Employment-Based Immigration: Fifth Preference is meant to stimulate the U.S. economy through job creation and capital investment by Foreign Investors.

All EB-5 investors must invest in a new commercial enterprise that was established: -

• After November 29, 1990; or
• On/ before November 29, 1990, that was:

1. Reconstructing or Reorganizing a Purchased or an existing business such that a new commercial enterprise results;
2. Or, expanding through investment such that there is at least a 40% increase in the number of employees or the net worth.

On July 24, 2019, United States Citizenship and Immigration Services ("USCIS") published a final rule "EB-5 Immigrant Investor Program Modernization."The final rule becomes effective on November 21, 2019.Changes that will happen in EB-5 under the final rule will include:

Capital Investment Requirements

A major change in the EB-5 visa policy is seen in the capital investment requirements with implementation from November 21, 2019. Here the capital means cash, equipment, inventory, cash equivalents, other tangible property and indebtedness secured by assets owned by the immigrant investors.

The minimum investment amounts by filing date and investment location are: -

Petition Filing

Targeted Employment Area Investment Amount

High-Employment Area Investment Amount

Before Nov 21, 2019

$500,000

$1,000,000

On/After Nov 21, 2019

$900,000

$1,800,000

This is the first increase in these amounts since 1990.

TEA Designation: -

The new regulations grant USCIS the authority to designate TEAs and remove all state involvement. TEAs will be limited to the immediate area around an EB-5 project, and will only allow for the addition of adjacent census tracts if:

1. The New Commercial Enterprise is located in more than one census tract; and
2. The weighted average of the unemployment rate for the tract or tracts is at least 150% of the national average.

This will mean that projects that were formerly contained within areas that were designated as TEAs, may not be classified as TEAs under the new regulations.

Retention of Priority Dates

Some pending EB-5 petitions may need to be resubmitted.Therule offers greater flexibility to immigrant investors who have a previously approved EB-5 immigrant petition. When they need to file a new EB-5 petition,petitioners who must refile will be allowed to retain their original priority date and so as not to lose their place in the processing queue.

Removal of Conditions for Permanent Residency

The rule revises regulations to make clear that certain derivative family members who are lawful permanent residents must independently file to remove conditions on their permanent residence. Family members included in the investor’s petition will continue to be processed simultaneously. The rule improves the adjudication process for removing conditions by providing flexibility in interview locations and to adopt the current USCIS process for issuing Green Cards.

Immigration Support Services for EB-5 visas in India

With this huge amount of investment and sudden changes in the policy, there is a need for Immigration Support services such that the ones seeking EB-5 visas may be assisted wisely. In general, USCIS offers 10,000 EB-5 visas each year.

SKJ Juris is an Immigration support company that understands the development of today's fast-paced global economy. The attorney clients of SKJ Juris are best served with customized legal services without compromising the quality and provides personal attention to each and every client. The Immigration Support services team of SKJ Juris utilizes their training and expert knowledge along with the latest technology, to successfully conclude the matters related to immigration. Immigration Support Services of SKJ Juris has extensive experience in dealing with EB-5 cases and in securing various types of Non-Immigrant & Immigrant Visas.

SKJ Juris Inc., was incorporated and headquartered in New Jersey in the year 2010. SKJ Juris provides high quality and low cost legal and allied support services namely litigation support, immigration support and lease abstraction service to attorney