On June 22, 2021, a Federal judge issued a decision on the court case of Behring Regional Center LLC V. Chad Wolf, et al., thus invalidating the Final EB-5 Rule enacted by USCIS on November 21, 2019. The EB-5 Final Rule had increased the EB-5 investment amount from $500,000 to $900,000. However, it is expected that the Secretary of the Department of Homeland Security Alejandro Mayorkas, who oversees USCIS, will reinstate the EB-5 Final Rule in the following days, thus reaffirming the EB-5 investment amount at $900,000.

Concurrently, the EB-5 Regional Center program is set to expire on June 30, 2021, unless Congress reauthorizes the program. There has been legislation introduced through S. 831 and H.R. 2901 to reauthorize the program, but it has not yet been passed. If you are in the process of preparing and EB-5 application at the moment, it is in your best interest to file your I-526 application before June 30, 2021 to ensure that you are grandfathered in under the existing EB-5 program.

Since the Federal judge in the EB-5 Final Rule case did not grant the plaintiff an injunction barring Secretary Mayorkas from reinstating the EB-5 Final Rule, USCIS will either need to reaffirm the court’s decision or reinstate the EB-5 Final Rule. The latter seems much more likely given the fact that Secretary Mayorkas ratified the EB-5 Final Rule just a couple months ago. Furthermore, it is almost certain that if Congress passes legislation reauthorizing EB-5 after June 30, 2021, that legislation will specify that the investment amount is $900,000, as that is how the currently introduced legislation S. 831 and H.R. 2901 are written.

Nonetheless, Paraprin has solutions for EB-5 applicants at both the $500,000 and the $900,000 levels. It is recommended to proceed at the $900,000 EB-5 investment amount, but for EB-5 applicants that are unable to invest $900,000, Paraprin has a solution to work with such applicants while the EB-5 program awaits clarity on the investment amount. 

This situation is fluid and we expect further news from DHS, USCIS, and Congress which will provide clarity in the following days. Please stay tuned for an update.