DHS Postpones Final Action Date On EB-5 Regulations To August 2018

Following attempts by lawmakers to finalize EB-5 regulations last month, the recent release of the Office of Management and Budget Spring 2018 Unified Agenda now estimates the Final Action for sweeping EB-5 regulatory reform to be finalized in August 2018.

This marks the most recent development in a protracted process that has been seeking finalization since January 2017 when they were released in draft form. As drafted, the regulations would raise the minimum investment amount substantially, as well as curtail present provisions allowing for the liberal designation of Targeted Employment Areas at the state level.

This proposed date is already six months later than the date initially expected for finalization in February 2018.  As we reported previously, Department of Homeland Security Secretary Kirstjen Nielson was urged in a letter from Sens. Chuck Grassley (R-Iowa), Patrick Leahy (D-Vermont), and Rep. Bob Goodlatte (R-Virginia) to finalize the regulations in