The USCIS has just agreed to a settlement which resolves two pending lawsuits filed against the government, paving the way for approved EB-5 Regional Centers like American Venture Solutions (“AVS”) to begin filing new EB-5 investor petitions (I-526E) without waiting for USCIS adjudication of new Regional Center compliance form. When the EB-5 Reform and Integrity Act of 2022 was passed earlier this year, Congressional intent and the law’s language made it clear that the purpose of the law was to enhance investor protections and improve transparency in the EB-5 program. To the shock of the industry, USCIS responded to the law by concluding that it meant that all previously approved and operating EB-5 Regional Centers were effectively terminated. That prompted a series of lawsuits in which IIUSA, the leading EB-5 industry group (in which AVS is an active member), joined as a plaintiff. While the settlement resolves a number of
The EB-5 Regional Center Program’s reauthorization last March prompted much celebration and excitement in the EB-5 community. After all, it had been almost a year since the program’s sunset, and demand continues to grow for quality EB-5 Regional Center Investor Visa projects.
As we recently reported, the 2019 EB-5 law was nullified by a California Federal Court last week, briefly restoring the $500,000 TEA/$1 Million non-TEA EB-5 investment threshold.