USCIS Protects Genuine Investors in the EB-5 Green Card Program

Mumbai: US Citizenship and Immigration Services (USCIS) has updated its policy manual to ensure the protections of ‘good faith’ investors participating in EB-5 investments. green card) Program.
EB-5 program It is also known as the investment linked green card program. It is gaining traction among Indian expatriates, especially those who are in the US temporarily on H-1B visas and looking for a quick way out. permanent residence (aka becoming a green card holder). With decades-long queues for employment-linked green cards and a lack of needed reforms for legal immigration, this program is an option available to highly networked individuals who want to make the US their home. ,
There are instances where investors have not only made losses despite investing substantial amounts of money investment But there is also hope of getting a green card. Currently, some regional centers are being served notices for not contributing to the integrity fund. Therefore, the Good Faith Guidelines will be useful to genuine EB-5 investors.
The EB-5 Reform and Integrity Act, 2022 introduces measures to increase transparency and compliance, while protecting good faith investors – those who participate with the genuine intention of complying with EB-5 rules – from permanent residence (green cards). ) due to misconduct by the Regional Centers or other participants.
USCIS clarifies that any investor who was a knowing participant in the conduct that caused him or her to be disbarred or barred does not benefit from section 203(b)(5)(M) of the Immigration and Nationality Act (INA). Can get. This would be the case if the EB-5 applicant knew of the fraud and failed to terminate or report the agent involved in the fraud to the EB-5 entity.
USCIS’s policy update provides options for investors to maintain eligibility for permanent residence even if the regional center is terminated or their new commercial enterprise (NCE) in which the investment is made or job creation center (which is funded by the NCE) Has been banned. Participation in the EB-5 Program.
Investment immigration lawyer Caroline Lee told TOI, “The protections introduced are intended to cover good-faith investors who, through no fault of their own, are associated with defunct regional centers or barred new commercial ventures. These provisions are intended to provide generous remedies to affected investors, including age-limit protection for children, preservation of the priority date and protection from ‘material change’ challenges to their cases.
“If the Regional Center is abolished, the NCEs of the affected investors will have an opportunity to realign with any other RC in equally good standing. The new RC can be anywhere in the US. Alternatively, investors can make fresh investments in another NCE,” Lee explained.
He further added, “If NCEs are deregulated, they will have the opportunity to re-engage with NCEs in an equally good position and make additional investments as needed for job creation – if previous investments did not create enough jobs “
Under the EB-5 route, an investment of $800,000 for projects in Targeted Employment Areas (TEAs), which are rural and high-unemployment areas, and infrastructure projects, or $1050,000 if located elsewhere, allows the investor to Gives the right to green. Card relatively quickly. Other than this. Employment generation of at least ten jobs is necessary. Investment can be made either directly (such as by operating businesses) or indirectly through regional centres, which in turn invest in commercial enterprises that undertake specific projects – such as building hotels. A large number of investors choose the route of regional centre.
The EB-5 program has an annual limit of approximately 10,000 new visas, with a 7% cap per country. The limit for fiscal year 2024 (ending this September) was set at 9,940. The EB-5 Reform and Integrity Act of 2022 also introduced separate (reserved) categories for certain types of investments. These categories include: 20% for qualified immigrants investing in rural areas; 10% for qualified immigrants investing in Targeted Employment Areas (TEAs) and 2% for qualified immigrants investing in infrastructure projects.
USCIS has issued a FAQ for EB-5 investors outlining the process to be followed by investors whose regional center has been terminated or their NCE or JCE has been restricted. It should be noted that project failure, in itself, is not an applicable basis for maintaining eligibility under section 203(b)(5)(M) of the INA.
USCIS says, “If you wish to realign your NCE with another regional center or make an eligible investment in an NCE due to the failure of a project other than termination or foreclosure, you must meet the post-RIA eligibility requirements.” A new petition will have to be filed for classification on that basis. ,
Top three countries of birth for EB-5 applicants