OMB Completes Review of New EB5 Final Rule

The American Immigration Lawyers Association (AILA) reported that that the Office of Management of and Budget (OMB) has completed its review of the EB-5 Immigrant Investor Program Modernization final regulation.¹ With this step completed, the Department of Homeland Security (DHS) may move to publish the Final Rule in the Federal Register (FR), after which it would likely become effective within 30 to 60 days of publication.

We have on site a comprehensive review of the interim final rule version of the provision [see article]. The interim final rule included provisions that would substantially alter the EB5 immigrant investor program, including raising the minimum investment thresholds and changing how targeted employment areas are calculated. Because the text of the final rule is not yet available, we do not yet know how it may have changed from the interim rule.

We will update the website with more information once the DHS publishes the EB5 final rule. Those seeking to obtain immigrant visas through investment should consult with an experienced immigration attorney for guidance before beginning the petitioning process. You may learn more about investment immigration and the EB5 category in our growing section on the subject on site [see category].

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1. AILA, “OMB Completes Review of the EB-5 Immigrant Investor Program Modernization Regulation.” Available at AILA Doc. No. 19022542 (Jun. 28, 2019)