On Oct. 26, 2023, USCIS updated the USCIS Policy Manual to reflect statutory reforms of the EB-5 Regional Center Program made by the EB-5 Reform and Integrity Act of 2022 (RIA).
- On March 15, 2022, President Biden signed the RIA, which, among other things, revised general eligibility requirements, substantially reformed and reauthorized the Regional Center Program and added significant new integrity provisions.
- On Oct. 6, 2022, USCIS published revised guidance for investor petitions to align certain content with the new law.
- EB-5 investors historically could participate in the Regional Center Program, which allows an investor to rely on indirect job creation when they invest through a USCIS-designated regional center. Authorization for the Regional Center Program lapsed at the end of the day on June 30, 2021.
Key Points
This update builds upon the initial update on Oct. 6, 2022. It is contained in USCIS Policy Manual, Volume 6, Part G, Investors, and incorporates statutory reforms related to regional center designation and obligations. It also updates the chapter on adjudication of investor petitions for classification and adds new content on regional center designations and obligations, project applications, and direct and third-party promoters, including registration.
The new Policy Manual guidance is effective immediately and is controlling, and supersedes any related prior guidance.
Erickson Insights and Analysis
Erickson Immigration Group will continue to monitor developments and share updates as more news is available. Please contact your employer or EIG attorney if you have questions about anything we’re reporting above or case-specific questions.