EB-5 Visa Classification
Created in 1990 by Congress, this program aims to stimulate the U.S. economy through foreign investment. Investors can qualify for EB-5 classification by investing through regional centers designated by USCIS. President Biden signed this act, which introduced new requirements for the EB-5 immigrant visa category and the Regional Center Program. Immigrant visas are authorized under the Regional Center Program until Sept. 30, 2027. USCIS policy on EB-5 adjudications is outlined in Volume 6, Part G of the USCIS Policy Manual, covering petitions filed both before and after the enactment of the EB-5 Reform and Integrity Act.
New Policy Guidance on Noncompliance with EB-5 Regional Center Program
USCIS has issued policy guidance to interpret these provisions. The guidance applies to various stakeholders, including investors, job-creating organizations, noncompliant regional centers, and new commercial companies. The guidance clarifies sanctions such as terminations, debarments, and suspensions. It also explains what actions may be considered criminal misuse, deception, fraud, and wilful material misrepresentation. Additionally, it outlines risks to the national interest in discretionary decisions related to certain EB-5 petitions, applications, and benefits. Good-faith pre-RIA investors have specific considerations to maintain eligibility under INA sec. 203(b)(5)(M) even if their regional center, new commercial venture, or job-creating business is terminated or debarred due to noncompliance.
The guidance incorporates statutory reforms from the EB-5 Reform and Integrity Act of 2022. This updated guidance is reflected in Part G, Investors, of Volume 6 in the USCIS Policy Manual and takes effect immediately.
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