EB-5 Regional Center Program Reform

Key changes

• U.S. Citizenship and Immigration Services (USCIS) is updating policy guidance in the USCIS Policy Manual to continue to incorporate statutory reforms of the Regional Center Program as they relate to regional center designation and other requirements for immigrant investors.
• Provides guidance on immigrant investor petition filing procedures, previous determinations and amendments, material changes, approvals, denials, and revocations.
• Clarifies guidance for good faith investors following program noncompliance by a regional center, new commercial enterprise, or job-creating entity.
• Explains the designation eligibility, documentation and evidence, adjudication, and amendment procedure for regional centers.
• Addresses the requirements for recordkeeping, audits, annual statements, and payments into the integrity fund, as well as consequences for failure to fulfill those requirements for existing regional centers.
• Clarifies the procedure, required evidence, adjudication, and amendment procedure for project applications, including site visit requirements and potential sanctions for noncompliance by a new commercial enterprise or job-creating entity.
• Addresses the new statutory requirements for direct and third-party promoters, including registration.