On June 22, 2021, Judge Jacqueline Scott Corley of the U.S. District Court of the Northern District of California (the “Court”) issued an order granting summary judgment in Plaintiff’s favor in the matter of Behring Regional Center LLC V. Chad Wolf, et al.
In summary, Plaintiff sought both (1) a declaratory judgment that the Final EB-5 Rule (changing the minimum investment amount from $500,000.00 to $900,000.00 among other changes) which went into effect on November 21, 2019, is without force and effect, as well as (2) an injunction barring Secretary Mayorkas from reinstating the Final EB-5 Rule absent compliance with the APA’s rule-making process.
The Court granted relief on the first item and issued remand with vacatur – essentially invalidating the Final EB-5 Rule. However, the Court declined to grant Plaintiff an injunction barring Secretary Mayorkas from reinstating the Final EB-5 Rule absent compliance with the Administrative Procedure Act’s (APA) rulemaking process. Therefore, the Court has set aside the Final EB-5 Rule and has remanded the matter back to the agency (Department of Homeland Security).
Although the Court did invalidate the Final EB-5 Rule, it is highly likely that Secretary Mayorkas will take action to reinstate the Final EB-5 Rule as the Court declined to grant Plaintiff an injunction barring Secretary Mayorkas from reinstating the Final EB-5 Rule absent compliance with the APA’s rule-making process.
BREAKING NEWS: 9TH CIRCUIT FEDERAL COURT INVALIDATES ORDER INCREASING THE MINIMUM TEA INVESTMENT TO $900,000
June 23, 2021USCIS publishes Clarifications for the guidance on further deployment of capital for EB-5 Investors’ visas
July 29, 2020
USCIS issued clarifying policy guidance regarding deployment of investment capital, including further deployment after the job creation is satisfied.
The Immigration and Nationality Act (INA) makes visas available to qualified aliens who will contribute to the economic growth of the United States by investing in U.S. businesses and creating jobs for U.S. workers. An alien investor must sustain his or her investment “at risk” throughout the 2- year period of conditional permanent residence to be eligible for removal of conditions on his or her permanent resident status....