And goes into effect on November 21, 2019
The new EB-5 regulations were published on July 24, and will be effective starting November 21, 2019. Some major changes to the EB-5 program in the final rule include:
Raising minimum investment amounts: The minimum investment amount for non-TEA will increase from $1 million to $1.8 million, and from $500,000 to $900,000 for TEA.
TEA designation reforms: Targeted employment areas will now be designated by the Department of Homeland Security (DHS). DHS will eliminate the State’s ability to designate certain geographic subdivisions as high-unemployment areas; DHS would make these designations instead.
Allowing EB-5 petitioners to keep their priority date: Immigrant investors who have a previously approved EB-5 petition will now be able to retain the priority date of their previously approved petition when filing for a new EB-5 petition.
What are your options now?
To benefit from existing EB-5 rules, prospective investors must make a qualifying capital contribution and file their investor petition prior to the end of the grace period. We recommend that prospective investors invest under the current regulations at the $500,000 investment level and file their I-526 petition before November 21, 2019.
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Available project: The Allen
Meet The Allen
The Allen is a landmark mixed-use development featuring a luxury hotel, condominiums, retail and office buildings, located in the heart of Houston, Texas.
The Allen investment project opportunity is $500,000.
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