Analysis

EB-5 Modernization Rule No Substitute For Legislative Fix

By Nicole Narea (February 27, 2019, 10:06 PM EST) -- A proposed rule to modernize the EB-5 investor visa program is facing pushback from attorneys who say it raises applicants' minimum investments too high while neglecting reforms that could be achieved through legislation to relieve crippling backlogs.

The EB-5 program allows foreign nationals to obtain green cards if they invest a minimum amount in a project that creates at least 10 jobs for U.S. workers in a certain type of area.

The proposed rule, announced by U.S. Citizenship and Immigration Services in January 2017 and sent to the Office of Management and Budget on Friday for final review, would increase minimum...

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