Great news for EB-5 investors – regional center programs are again open for investment.
Previous events
Following the reauthorization of the EB-5 program in March 2022, USCIS required the regional centers to get reauthorized. In effect, this meant that the regional centers could not resume recruiting investors for EB-5 projects until reathorization.
Authorization of a regional center is a lengthy process that takes months or even years. Among other things, representatives of the regional centers considered it unfair to demand a second check, given that their activities have not changed significanty under the March bill.
What has changed now
The US District Court for the Northern District of California ruled that the USCIS immigration decision to require the reauthorization of regional centers is not valid.
In particular, the court order defines the decision of the immigration service as most likely a “legal error” that disproportionately affects their financial flows and harms public interest.
Details are described in the federal court order, available here.
It is not yet clear if USCIS is going to appeal the court’s decision. However, at the moment it is known for sure that the regional centers can continue to work as usual.
Learn more
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