The Consolidated Appropriations Act, 2022, an omnibus spending bill passed by Congress and signed by President Biden, reauthorizes the EB-5 regional center program for five years, among other things. The bill includes significant changes to the EB-5 program. Selected highlights are below:
- The EB-5 regional center program is reauthorized until September 30, 2027.
- For targeted employment areas (TEAs) or infrastructure projects, the investment will increase to $800,000. For other projects, the required investment is $1,050,000. Existing investors’ petitions will be grandfathered under existing rules. TEA letters are valid for two years.
- As long as an EB-5 petition is filed by September 30, 2026, U.S. Citizenship and Immigration Services (USCIS) must continue to process it even if the program lapses in the future.
- Immigrant investor petitions can include concurrent adjustment of status filings.
- Projects can be changed if a regional center or new commercial enterprise is terminated.
- USCIS will audit regional centers at least every five years.
- Third-party agent fees and involvement must be disclosed.
The bill also reauthorizes the Violence Against Women Act. It does not include visa recapture provisions.
- “Investor Immigrants Greet Imminent Revival of the EB-5 Program,” Forbes, Mar. 9, 2022
- Consolidated Appropriations Act, 2022, Congress.gov
- “Violence Against Women Act Renewed as Part of Omnibus Spending Package,” The Hill, Mar. 9, 2022
- “Green Card Backlog Fix Dropped From Lawmakers’ Budget Deal,” Bloomberg Government, Mar. 9, 2022
- “Biden Signs Spending Bill That Includes $13.6 Billion in Ukraine Aid,” CBS News, Mar. 11, 2022