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Writer's pictureKelly Shen

What integrity measures are included in the 2022 EB-5 Reform and Integrity Act?



The '2022 EB-5 Reform Act' includes the following project integrity measures:

  • Establishment of an Integrity Fund

  • Each Regional Center pays $10,000 - $20,000 per year (depending on the number of investors).

  • EB-5 investors pay $1,000, in addition to the I-526 application fee.

  • Before any investor submits the I-526 application for the project, the Regional Center must submit I-924/I-526 samples. Approval is binding unless there is fraud or significant changes.

  • Regional Centers must promptly notify USCIS of any significant structural changes.

  • USCIS must conduct regular field inspections of Regional Centers, NCEs, and JCEs.

  • Regional Centers must provide annual reports to USCIS and their investors as required, detailing the situation of investor capital and proving compliance with project requirements.

  • Regional Centers must demonstrate that they have established reasonable policies and procedures to comply with U.S. securities laws and prevent fraud.

  • The Department of Homeland Security must conduct background checks on certain personnel of Regional Centers, NCEs, and associated JCEs, and prohibit certain foreigners from owning and participating in Regional Centers, NCEs, and associated JCEs.

  • The Department of Homeland Security can terminate, prohibit, and penalize Regional Centers, NCEs, and associated JCEs, as well as related personnel, for violating EB-5 regulations.

  • Direct and third-party promoters, including immigration agents, must register with USCIS, prove compliance with EB-5 and U.S. securities rules, and disclose fees received and services provided.

  • EB-5 projects must use a fund manager or delegate independent annual audits.

  • EB-5 capital must be kept in non-commingled accounts.

Administrative Appeal: If a Regional Center or EB-5 investor wishes to object to a denial, revocation, termination, or sanction issued by DHS/USCIS, they must first apply for an administrative appeal review to the USCIS Administrative Appeals Office. This means that before the administrative review procedure is completed, neither the Regional Center nor the EB-5 investor may seek judicial review (i.e., question USCIS's decision in court).


Note: This does not apply to lawsuits filed against USCIS due to delayed approval.


Timely Processing: The '2022 EB-5 Reform Act' requires USCIS to conduct a study within 1 year to determine the fee adjustment needed for USCIS to adjudicate EB-5 applications in a timely manner (i.e., TEA projects receive I-526 approval within 90 days)

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