Release Date: 10/11/2023
USCIS has provided clarifications on the changes made to the EB-5 program by the EB-5 Reform and Integrity Act of 2022 (RIA). Key points include:
Investment Timeframe: For EB-5 investors who file after March 15, 2022, the RIA has clarified that investors don’t need to sustain their investments throughout their conditional residence. Instead, the requirement is that the investment should remain for a minimum of two years, given job creation criteria are met. The two-year period starts when the investment is made into the new commercial venture.
Investors of Terminated Regional Centers: Previously, termination of a regional center meant potential denial of associated investor petitions. Now, RIA allows investors in good faith linked with terminated centers to maintain eligibility under certain conditions. This applies to both post-RIA and pre-RIA investors. Specific provisions include leniency on response deadlines for pre-RIA investors and considerations based on the reason for a regional center’s termination.