New Audit Measures For EB-5 Regional Centers

The U.S. Citizenship and Immigration Services (USCIS) has announced new audit measures under the EB-5 Reform and Integrity Act of 2022, affecting all designated regional centers. Under the 2022 law, USCIS must conduct audits at least once every five years for each regional center. These audits are comprehensive, including a review of necessary documentation maintained by the regional centers and the flow of immigrant investor capital into their projects. This initiative aims to reinforce the credibility and reliability of the EB-5 program by verifying the accuracy of information provided in the regional center applications, annual certifications, and related investor petitions.

In terms of procedure, USCIS will implement audits based on the Generally Accepted Government Auditing Standard, starting April 23. This will provide a standardized approach to assess the regional centers' compliance with laws and their eligibility for continued designation. It's important