On March 1, local time, the U.S. Department of Homeland Security (DHS) issued a Federal Register notice providing information regarding the EB-5 Integrity Fund. As required by the EB-5 Reform and Integrity Act of 2022, U.S. Citizenship and Immigration Services (USCIS) will use the EB-5 Integrity Fund to administer the EB-5 Regional Center Program.
Beginning March 2, 2023, USCIS started collecting an annual fee from each designated regional center as a contribution to the EB-5 Integrity Fund. Late payments will incur penalties, and prolonged delinquency may lead to the termination of a regional center's designation. The establishment of the Integrity Fund represents an improvement to the EB-5 legislative framework, signaling that the path for U.S. investment immigration is becoming more standardized and that the interests of investors will be further protected.
According to the requirements of the new law, the fee is $20,000 per year for regional centers with more than 20 investors, and $10,000 per year for those with 20 or fewer investors. Fees for the 2023 fiscal year must be paid by April 1, 2023, and regional centers must pay the fee directly online via the pay.gov system managed by the U.S. Department of the Treasury. Starting from the 2024 fiscal year (October 2023), fees will be paid at the beginning of each fiscal year, specifically between October 1 and October 31 annually.
Meanwhile, under the new EB-5 law, USCIS will terminate the authorization of any regional center that fails to pay the fee within 90 days of the due date. USCIS has stated that it will not automatically terminate authorization but will issue a Notice of Intent to Terminate, providing the regional center an opportunity to demonstrate that the fee was paid within 90 days prior to the issuance of the termination notice.
In addition, the filing fee for the Form I-526E, Immigrant Petition by Regional Center Investor, increased by $1,000 on October 1, 2022, and this fee will also be incorporated into the Integrity Fund.
The Department of Homeland Security will use the fund to:
l Conduct investigations outside the United States, including monitoring and investigating project-related activities and sales, and ensuring that foreign investors' investment funds are derived from lawful sources and through lawful means;
l Detect and investigate fraud or other crimes;
l Determine whether regional centers, new commercial enterprises, job-creating entities, and immigrant investors (and their qualified spouses and children) are in compliance with U.S. immigration laws;
l Conduct audits and site visits;
l Carry out other activities that the Department of Homeland Security deems necessary.
WorldWay Group will continue to monitor news related to the EB-5 Regional Center Program and will share any new information with you as soon as it becomes available.
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*This material does not constitute an offer of any kind and is for informational purposes only. To improve readability, the information published in this material has been truncated and summarized. Any detailed information of a legal nature should be based solely on the official English investment documents provided by the project party at the time of formal subscription. *Investors should make their own investment judgments and decisions based on the formal English investment documents of this project. *Investment involves risks; choose carefully.*