For decades, the EB-5 Immigrant Investor Program has helped foreign nationals get a U.S. Green Card through investment. But in 2022, the program went through several changes when the EB-5 Reform and Integrity Act (RIA) was introduced. It’s important to stay up-to-date on these changes to make sure you are successful in the EB-5 immigration process.
In this article, we will compare the EB-5 program’s requirements, processing times, and benefits before and after the RIA so that you can make more informed decisions when it comes to your immigration plans.
Processing Times and Visa Availability
Concurrent Filing
Investment Options
Requirements and Regulation Changes
Learn More About the EB-5 Reform and Integrity Act
Processing Times and Visa Availability
Pre-RIA Scenario
Before the RIA, EB-5 investors had to deal with unpredictable processing times. Form I-526 petitions would often take years to be approved, causing delays in investors’ immigration plans. All EB-5 visas also came from a single pool, which would lead to longer wait times for investors from high-demand countries.
Post-RIA Improvements
Now, with the RIA, we are seeing faster processing times. New policies have also helped reduce backlogs, which has made the overall process faster for new investors.
A big factor in wait times being cut was the introduction of reserved visas for specific targeted employment areas (TEAs). Under the RIA, 20% of EB-5 visas are now reserved for rural TEA investments, 10% for high-unemployment TEAs, and 2% for infrastructure projects. These reserved visa categories also give investors more choices when selecting investment projects that work best for them.
For example, rural TEA projects are being processed more quickly, with some I-526E petitions being approved in as little as 12 months. This is because of priority processing for rural investments, which makes them a good option for investors wanting quicker outcomes.
However, while the post-RIA changes have generally led to faster processing times, approval times can still vary depending on individual circumstances. Circumstances include the type of investment, the investor’s home country, and the current demand for EB-5 visas.
Concurrent Filing
Pre-RIA Process
Prior to the RIA, all EB-5 investors had to wait for I-526 petition approval before they could apply for adjustment of status or consular processing.
Post-RIA Advantages
The RIA introduced concurrent filing, which has multiple benefits:
Investment Options
Pre-RIA Structure
The pre-RIA structure had two types of investments, regional center and direct, with targeted employment areas offering a lower investment amount.
Post-RIA Changes
The RIA introduced more investment options to choose from, each with its own benefits. New EB-5 investors can now invest in rural TEAs, high-unemployment or urban TEAs, or specific infrastructure projects.
Non-TEA investments are still available, but they require a higher investment than TEAs and currently face backlogs.
Before the RIA, the minimum investment for TEA projects was $500,000, while non-TEA investments required $1 million. Under the new rules, these amounts have increased to $800,000 for TEA projects and $1.05 million for non-TEA projects.
Requirements and Regulation Changes
Pre-RIA Standards
Previously, regional centers and projects were under less scrutiny, allowing for lack of transparency or incidents of fraud.
The EB-5 capital had to remain invested and at risk throughout the investor’s two-year conditional residency, which often created the need for redeployment due to processing delays.
Post-RIA Changes
Regional centers now have to file new forms like Form I-956 and Form I-956F to meet new regulations. There are also more thorough checks on regional centers and project developers to add more integrity and transparency to the EB-5 program.
Another change that the RIA brought was removing the requirement to keep the EB-5 capital invested throughout the entire conditional residency period. USCIS’s interpretation of the legislation redefined the EB-5 investment sustainment period to be “at least two years” starting on the day the new commercial enterprise (NCE) receives the investment.
Learn More About the EB-5 Reform and Integrity Act
The EB-5 Reform and Integrity Act has brought significant changes to the program for foreign nationals seeking a U.S. Green Card. While it may seem more complex than before, the RIA works in investors’ favor. Quicker processing times, more investment options, reserved visa quotas, earlier U.S. residency through concurrent filing, and more reliability thanks to stricter regulations make the post-RIA EB-5 program a strong route for foreign investors seeking U.S. permanent residency.
Support from industry professionals and experienced immigration attorneys is also helpful. They can provide more guidance on the recent changes to the EB-5 program and what it all means for you.
To learn more about the EB-5 program or to discuss which investment category might suit you, book a call with our team today.
