EB-5 Minimum Investment Requirement Lowered to $500,000
In 2019, then-acting Department of Homeland Security Secretary Kevin McAleenan enacted new regulations for the EB-5 Investor Program, substantially raising the required minimum investment to qualify for the EB-5 Visa. The EB-5 Immigrant Investor Program Modernization Final Rule increased the minimum investment to $1.8 million dollars in a standard area and $900,000 in a Targeted Employment Area (TEA).
The U.S. District Court for the Northern District of California recently granted summary judgment in favor of the plaintiff in Behring Regional Center, LLC v. Wolf, et al. The Court held that DHS violated the Administrative Procedure Act (APA) when it promulgated the 2019 final rule, as the Former Acting DHS Secretary McAlennan was not lawfully serving as DHS Secretary when he promulgated the final rule. Thus, the EB-5 Immigrant Investor Program Modernization Final Rule is void.
What does this mean for those considering the EB-5 Immigrant Investor Program? Investors are no longer required to invest $1.8 million in a standard area or $900,000 in a TEA. The minimum investment to qualify for EB-5 is $500,000 is a TEA or $1,000,000 in a standard area. If you are interested in pursuing lawful permanent residency in the United States via the EB-5 Immigrant Investor Program, the attorneys of Flecha Law can help you determine if you qualify.