US government modernizing the EB-5 Immigrant Investor Program
Immigration services and U/S Citizenship will soon publish a final rule that will make some changes in the EB-5 program. The rule will publish on 24 July 2019 and will become active from November 2, 2019. Observing the first important revision of the Investor program's regulation after 1993.
Latest changes under this final rule are:
Targeted employment area (TEA) designations:
TEA designation reforms: This final rule highlights the changes to the program to meet gerrymandering of unemployment areas. Gerrymandering of these areas was generally achieved by joining a series of census tracts in order to link a project location to an agitated community to get the qualifying unemployment rates.
DHS will reduce a state's capacity to choose certain political and geographic subdivisions as major unemployment locations. These changes will make sure the Tea designations made consistently and fairly.
Explaining USCIS systems for eliminating limitations on the permanent residence:
The rule changes regulations in order to make explicit that some derivative members of the family who are permanent residents must individually file to eliminate conditions on their permanent residence.
The condition would not appeal to those members who were involved in an investor’s petition to expel conditions. This rule revises the adjudication method for eliminating conditions by offering versatility in interview areas and to foster the contemporary USCIS procedure for issuing Green Cards.
This rule offers high flexibility to investors who have an early approved EB-5 immigrant petition. It means, now if they wish to appeal for a new EB-5 petition, they normally now will be eligible to keep the previously approved petition priority date.
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