Judge Rules To Reinstate $500,000 Minimum Investment For the EB-5 Visa ProgramJune 23, 2021
Late yesterday, in the matter of Behring Regional Center LLC V. Chad Wolf et al, the judge ruled that former acting Department of Homeland Security Secretary, Kevin McAleenan, was not properly appointed when DHS implemented the EB-5 Modernization Final Rule in November 2019.
As a result, those regulations (which among other things increased the minimum EB-5 investment amount from $500,000 to $900,000) have been "vacated". While we at CMB expect DHS to appeal the ruling and/or attempt to reinstate the regulations in the near future, it may be possible for a limited time for an investor to make an EB-5 investment at the now $500,000 minimum investment level.
CMB currently has an EB-5 offering available for subscription, Group 79, which is with our longtime borrower Hillwood Development Company, and will be able to accept investors at this lower investment level of $500,000 (plus syndication fee).
CMB Group 79 involves the construction of a build-to-suit logistics and warehousing facility near Detroit, Michigan. More information on our current project is available HERE.
It is important for prospective EB-5 investors to understand that the EB-5 Regional Center Program is currently scheduled to expire on June 30, 2021 (seven days from now). If the program is not reauthorized, the USCIS will stop accepting new I-526 petitions after that date.
As the leader in the EB-5 industry, CMB will continue to send updates with new developments during this unprecedented situation. In the meantime, anyone interested in learning more about CMB, Group 79, or the EB-5 program should contact us HERE.
