Two years after lawmakers reinstated the lapsed EB-5 visa program, which offers a streamlined pathway to permanent residency for immigrant investors, roughly 100 regional centers are now at risk of losing their authorization status. This stems from the US Citizenship and Immigration Services’ (USCIS) stringent enforcement of payment requirements for the program integrity fee.
The EB-5 visa program mandates investments in U.S. businesses that create jobs, thereby qualifying investors for a fast-tracked green card. Many regional centers, entities that pool these investments and manage projects, have reportedly failed to pay the required fees, leading to notices of intent to terminate their authorization status. Attorneys indicate that this summer has seen a surge in these notices, although specific data about the terminations is not publicly available.
The implementation of these financial obligations and subsequent penalties underlines the government’s commitment to stringent compliance and standards for the continuation of the immigration investor initiative. This renewed vigor in enforcement could potentially derail many projects that depend on the pooling of investor funds through regional centers.
For a more detailed account, please visit the original article on Bloomberg Law.