Recent developments have allowed the immediate filing of new EB-5 Immigrant Investor petitions based on passive investments of US $800,000 through USCIS-certified Regional Centers. Businesses in the United States can now again make use of new EB-5 investment funds to generate additional financing for existing projects in the pipeline.
Based on the parameters of the reformed EB-5 program, developers with ongoing projects in rural areas have received significant assistance as the EB-5 program now incentivizes rural development by setting aside reserved visas comprising 20% of all EB-5 visas and designating rural projects for “prioritized” processing under the EB-5 program. The immigration industry expects that rural projects in particular will be of significant interest to nationals of Mainland China, who have recently comprised the majority of EB-5 investors and face significant backlogs due to nationality quotas on visa issuance within each preference category.
Furthermore, all EB-5 petitioners may now benefit from concurrent Adjustment of Status if they are currently in the United States in student or temporary employment-based visas on the date of filing their EB-5 petitions or subsequent. This means that these investors may legally remain in the United States during the adjudication of their EB-5 petitions and within a few months of their Application for Adjustment of Status these investors will have temporary employment authorization and travel authorization pending adjudication of their EB-5 petition and Application for Adjustment of Status. Concurrent Adjustment of Status is especially advantageous to foreign national students who wish to have employment authorization following graduation and termination of their Optional Practical Training (OPT) period.
For additional information on the current regulations applicable to the EB-5 Regional Center Program, please see our previous blog article titled “EB-5 Regional Center Program Authorization”:
For a consultation on EB-5 visa issuance through the Regional Center Program please reach out to Drummond Advisors.
Written by Chris Costa, Senior Associate at Drummond Advisors