How could the proposed EB-5 regional center program comprehensive reform impact EB-5 investors?

It will not impact I-526 applications, filed prior to its effective date. Applications filed on or after the effective date will have to conform to the new changes.

Generally, any petitions filed before the enactment date of the act should be grandfathered. It will be known for certain when the act is passed into law.

The current law concerning EB-5 will apply to pending I-526 petitions and pending I-829 petitions. If there is a new law concerning EB-5, then the new law will apply to I-526 petitions and I-829 petitions which are filed after the new law becomes effective.

The effective date of the act, if passed, should determine which I-526 petitions are subject to the new rules and which ones are "grandfathered". Until the final language is released and the bill passes into law (after passing both houses of Congress and the President&#39s signature), no one will know for sure.

Subsequent to the enactment of EB-5 Regional Center program reform legislation future EB-5 investors will definitely be subject to the terms and conditions of the new law. However, if the EB-5 petition is filed prior to the enactment of any new legislation, it will be adjudicated under the terms and conditions of the current EB-5 Regional Center legislative language. The beneficiaries of the petition will still be governed in terms of the dollar amount based upon the TEA status at the time the petition was filed.

The proposed bill ("Immigrant Investor Visa and Regional Center Program Comprehensive Reform Act") would grandfather all cases filed before the enactment date of the new law.

The new bill which I am sure will be passed has reasonable grandfather protections. You should be okay.

The new regulation will not be retroactive in enforcement. Otherwise, it will likely be challenged in court by various parties whose interests are at stake. Therefore, it safe to assume that all pending I-526 petitions will be processed under the existing laws when they were filed.

It is difficult to ascertain since we do not know yet whether certain provisions in the Reform Act will be stricken out and whether some provisions will be retroactive. The proposal seems to allude that pending cases will be adjudicated based on old rules.