The Eb-5 Regional Center Program, which has been expired since June 30, 2021, is now reauthorized under the EB-5 Reform and Integrity Act of 2022 (signed into law by Pres. Biden on March 15, 2022. The main highlights of the law are as follows:
- The new minimum investment amounts are $800,000 for investments in Targeted Employment Areas (TEA’s) and $1,050,000 for investments in non-TEA’s.
- The previously filed Adjustment Applications and Petitions that were left pending with USCIS can now be adjudicated by USCIS.
- Investors that are in the U.S. can now concurrently file the EB-5 Petitions (I-829) and Adjustment of Status (I-485) petitions together without having to wait for an approval of the I-829 first.
- Department of Homeland Security will now have sole authority to determine which area is considered a TEA; it is no longer decided by State and other local authorities.
