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Federal Court Judge Leaning Towards Changing $900,000 EB-5 Rule

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22.06.2021

In the last five months Behring Regional Center and Greenberg Traurig law firm have been in the Federal Courts challenging the 2019 EB-5 modernization rule. In the case of Behring Regional Center v. Wolf, Case No. 3:20-cv-09263 (N.D. Cal) Behring Regional Center submitted an application against the Department of Homeland Security requesting the courts to disallow the implementation of the EB-5 modernization rule of 2019. The lawsuit claims that the process was done beyond the scope of power of the then-acting Department of Homeland Security officials and as such a clear violation of Administrative Procedures Act as the acting officials had no legal authority.

Related: What Is the EB-5 Immigrant Investor Program?

The EB-5 modernization rule updated various regulations governing the EB-5 immigrant investor program and in doing so subsequently affected the number of investors filing for EB-5 petitions. The main change in the rule was to increase the required capital investment amount from $500,000 to $900,000. Various industry leaders voiced several concerns that the drastic increase of the investment amount made the program unattainable for the middle class who........

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