The Department of Homeland Security (DHS) has released a proposed rule to officially update the federal regulatory handbook for the EB-5 immigrant investor program.
This active administrative action, identified as RIN 1615-AC94, aims to formally embed the enhanced integrity measures, fund oversight rules, and investment thresholds of $800,000 and $1.05 million established by the 2022 Reform and Integrity Act into the Code of Federal Regulations (CFR).
This proposed rulemaking strengthens the EB-5 program by officially integrating provisions of the EB-5 Reform and Integrity Act of 2022 (RIA) into federal regulation. Key changes include stricter rules on bridge financing, the removal of troubled business eligibility, a focus on regional center project applications, new compliance requirements for fund administration, registration for promoters, and enhanced enforcement measures to combat fraud and ensure national security. Additionally, the rules for petition withdrawals and automatic revocations have been clarified.
What actually changes with the rulemaking and when?
The current minimum investments are generally $1.05 million and $800,000 for Targeted Employment Areas (TEAs).
However, the CFR, the government’s official regulatory handbook that corresponds to laws passed by Congress, still shows the historical limits of $500,000 for TEAs and $1 million for general investment.
This update in federal regulation is separate from the mandatory clause in the RIA requiring the government to adjust EB-5 investment thresholds for inflation every 5 years, with the next adjustment taking place on January 1, 2027.
DHS released the unofficial draft on July 1 and is scheduled to be published in the Federal Register on July 2, beginning a mandatory public comment period and receiving final administrative clearance before its compliance frameworks become legally binding.
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