On December 9, 2009 we posted EB-5 Investments Increased to $900,000 and $1.8 Million Starting November 21, 2019, where we discussed that the Final Rule was scheduled to be published on Wednesday, July 24, 2019, in the Federal Register is set to raise investment amounts for the EB-5 program from $500,000 to $900,000 for TEA investments and $1 million to $1.8 million for non-TEA investments. Other major program changes include the centralization of TEA's in the Department of Homeland Security (DHS) and a clarification of procedures for removing conditions on permanent residence. This is the first significant revision to the EB-5 program's regulations since 1993.
Now according to CBI The US District Court for the Northern District of California has ruled that Former Acting Homeland Security Secretary Kevin McAleenan was not following correct procedures while serving in his position under the Federal Vacancies Reform Act when he introduced the EB-5 Modernization Final Rule, and accordingly the Court has ruled that the new regulations which took effect on 21 November 2019 must be “set aside”. US Magistrate Judge Jacqueline Scott Corley made the ruling on June 22, 2021, in the case of Behring Regional Center LLC V. Chad Wolf, et al.
She Also Ruled That The Ratification of The EB-5 Modernization Final Rule By Current Secretary Of Homeland Security Alejandro Mayorkas in March 2021 Did Not Fix The Fault Arising From McAleenan’s Improper Appointment.