Exclusive News from Worldway: On April 27, Jeh Charles Johnson, the Secretary of Homeland Security, wrote to the Chairman and Vice Chairman of the Senate Judiciary Committee regarding the reauthorization of the EB-5 program, emphasizing the following points: Increase the minimum investment amount to reflect inflation in the United States, and state that the Immigration Bureau can implement the authority granted to it to raise the minimum investment amount without Congressional approval. Worldway now summarizes the key points from the Secretary of Homeland Security's letter to Congress as follows:
Letter from Secretary of Homeland Security Jeh Charles Johnson to Congress
1. Recommend granting the Immigration Bureau the right to take swift action, meaning that once any criminal activity or threats to national security are discovered at a regional center, the designation or application approval of that regional center should be immediately terminated.
2. Grant the Immigration Bureau the authority to prohibit individuals with criminal histories or past securities fraud from participating in regional center and associated business activities, and stipulate that the chairman of the regional center must be a U.S. citizen or lawful permanent resident.
3. Authorize the Immigration Bureau to strengthen the enforcement and review of annual reports submitted by regional centers.
4. Grant the Immigration Bureau appropriate penalties, including fines and temporary termination of regional center designations.
5. To avoid unfair manipulation of TEA area designations (for example, by using isolated or atypical areas to demonstrate high unemployment rates), it is recommended to limit the number of "adjacent census tracts" used. Consider including closed military zones within the TEA area scope.
6. Regarding the increase in the minimum investment amount: The Immigration Bureau intends to exercise its authority to raise the minimum investment amount.However, establishing an increase in the minimum investment amount through legislation will make it more sustainable. At the same time, it is recommended that legislators consider linking the minimum investment amount to an inflation index.
7. To improve the efficiency of the EB-5 immigration program and reduce the risk of investor fraud, it is recommended to grant the Immigration Bureau the authority to require regional centers to submit investment proposal documents, including business plans and other organizational structure documents, before investors submit their materials.
Additionally, the letter mentions that the Department of Homeland Security will further improve the processing of EB-5 case applications internally, and has passed a new draft to regulate how DHS employees respond to communications from EB-5 investors and their attorneys, inquiries from Senators and Representatives, and interventions by superiors in case processing.
Worldway InterpretationAs a representative organization in the industry, the formal letter from the Department of Homeland Security to the legislators is cautious in its wording, subtly expressing opposition. Overall, both the U.S. Citizenship and Immigration Services and the Department of Homeland Security support the EB-5 price increase, and the Immigration Bureau also hopes that Congress will anticipate the price increase. Notably, the letter mentions that the Immigration Bureau intends to exercise its authority to raise the minimum investment amount through administrative regulations, further emphasizing that the Immigration Bureau has the right to implement the EB-5 price increase. In summary, this letter indicates that there is a general consensus on the EB-5 price increase, and the second shoe in the EB-5 industry is about to drop.
Worldway ReminderAs a leading organization in the U.S. investment immigration industry, Worldway Immigration Group has been committed to providing investors with carefully selected EB-5 projects to minimize their risks. Worldway also maintains good cooperation with senior officials at the U.S. Citizenship and Immigration Services and well-known attorneys to provide investors with the latest and most comprehensive immigration policies and related information interpretations in a timely manner. The above summary is a translation; please refer to the original English content for accuracy. For the original English document or to learn about any policies and the latest news regarding the EB-5 price increase, please contact Worldway Immigration Consultants or call the Worldway service hotline: 400-138-2929.
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