The US Department of Homeland Security (DHS) has proposed new regulations to formally implement the EB-5 Reform and Integrity Act of 2022, introducing stricter oversight of the EB-5 Regional Center Program and proposing a higher investment threshold for certain projects.
The proposal, scheduled for publication in the Federal Register on July 2, would raise the minimum investment amount for projects located in high employment areas to $1.4 million, compared with the standard investment requirement of $1.05 million. DHS will accept public comments on the proposal for 60 days after publication, according to a report by Fragomen.
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The EB-5 programme offers foreign investors a pathway to US permanent residency by investing in qualifying commercial projects that create jobs. The Regional Center Program, reauthorised under the 2022 law until September 30, 2027, allows investments to be made through DHS-approved regional centres.
New oversight measures
The proposed rule would formally incorporate several integrity measures that are already being implemented under the 2022 law. These include mandatory biometric collection, enhanced compliance requirements, more frequent audits and site visits, and stronger oversight of regional centres.
The regulation would also establish procedures for the automatic revocation of certain immigrant investor petitions in cases specified under the law.
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DHS said the proposed rule would codify changes contained in the EB-5 Reform and Integrity Act of 2022, which authorised the department to implement new processing and policy measures, increase oversight and streamline EB-5 processing, as per Fragomen report.
The proposal remains open for public feedback for 60 days after its publication in the Federal Register before DHS considers issuing a final rule.
