The US government temporarily reinstated the Houston EB-5 Direct Investment program at a $500,000 investment level. The Houston EB-5 Visa program is for international entrepreneurs and investors who want to receive US permanent residence by making a qualified investment in real estate. Over the years, this program has helped the US government in attracting qualified entrepreneurs and investors for permanent residence.
What Recent Changes Were Introduced to the EB-5 Visa Program?
The US government introduced certain changes to the EB-5 Investment Program as a part of a comprehensive EB-5 modernization law in 2019. The biggest change was the increase in the required investment level for the program. The minimum required investment in a Targeted Employment Area (TEA) was increased from $500,000 to $900,000, while the minimum required investment for non-TEAs was increased to $1.8 million from $1 million.
In a recent court ruling, the US Northern District Court of California reinstated the minimum required investment level for TEAs back to $500,000 on June 23, 2021. The court ruled that the then Acting Director of the US Citizenship and Immigration Service (USCIS) lacked the authority to make that change.