A federal judge in California has struck down the 2019 regulation that made numerous changes to the EB5 immigrant investor visa program, most notably a sizable increase in the minimum investment requirement. Under the 2019 rule, the minimum investment increased to $1.8 million for standard investments, and $900,000 for investments made in a targeted employment area (TEA). A TEA is a rural area or area of high unemployment. The minimum investment requirements now return to $1 million for a standard investment or $500,000 for an investment made in a TEA.
At this point, it is unclear how long this reduced investment requirement will remain in place. The Department of Homeland Security (DHS) may appeal the decision. Or, the DHS could correct the procedural error that doomed the 2019 regulation and properly re-implement it.
MurthyDotCom will continue to closely track this story, and post updates as new information becomes available. Foreign nationals interested in learning more about the EB5 program can reach a Murthy Law Firm attorney at EB5@murthy.com.
Copyright © 2021, MURTHY LAW FIRM. All Rights Reserved
The post NewsFlash! Court Nixes EB5 Rule, Reinstates Minimum Investment Requirement of $500,000 appeared first on Murthy Law Firm | U.S Immigration Law.