July 29, 2022

On March 15, 2022, President Biden signed the EB-5 Reform and Integrity Act into law as part of the Consolidated Appropriations Act. This legislation introduces significant revisions to the EB-5 Immigrant Investor Program. Among the changes includes the long-awaited reauthorization of the EB-5 Regional Center Program, which will be detailed further below. Investors will benefit from much of this new bill, which will make the EB-5 immigration process safer and more efficient than ever.

The resurrection of the regional center program can potentially create backlogs in high-demand countries, such as China. Because of this, faster processing times are more important than ever. Investments in rural targeted employment areas (TEAs) will be granted priority processing by USCIS, so these will likely be favored by investors from high-demand countries. Concurrent filing of Forms I-526 and I-485 is now allowed as well. This will be a great advantage for investors already living in the United States. Not only can it reduce wait times; it also offers quicker access to work authorization and travel permissions.

Each fiscal year, roughly 10,000 visas can be received by investors through the EB-5 program. During negotiations for the Reform Act, legislators wanted to ensure that TEAs benefitted more from EB-5 funding. Now, 32% of the visa quota is reserved for TEAs, and most of this percentage will go to rural TEAs.

The EB-5 Reform and Integrity Act of 2022 ushers in a new era for the EB-5 industry that emphasizes transparency, efficiency, and protections for investors and developers. It is one of the most extensive reforms in the program’s history. In credit to the latest EB5 updates, 2022 and beyond will be an extraordinary time for existing and future investors in the EB-5 program. Not only has the Regional Center Program been reauthorized; its future has also been stabilized. Foreign investors can expect quicker processing of their petitions thanks to provisions like concurrent filing and priority processing for rural projects. Visa reservation ensures TEAs and infrastructure projects will continue to benefit from the EB-5 program as well. With enhanced transparency, efficiency, and protections, foreign nationals can enjoy one of the best times to apply for an EB-5 visa.

Source: EB5 Affiliate Network