The Department of Homeland Security (DHS) published a proposed rule implementing the EB-5 Reform and Integrity Act of 2022 (RIA). The law reauthorizes the EB-5 Regional Center Program through September 30, 2027. The RIA technically went into effect in March 2022, but U.S. Citizenship and Immigration Services (USCIS) largely administered it through policy guidance and informal practice since then. This proposal would translates statutory reforms into binding regulations covering everything from regional center compliance to job creation methodology.
Background
The DHS published the proposed rule in the Federal Register on July 2, 2026, opening a 60-day public comment period that closes August 31, 2026. No changes are in effect yet, and current EB-5 filings remain governed by existing law and USCIS policy guidance. Expect a final rule after the DHS reviews public comments, which typically adds a year or more to the process.
Change Details
Under the proposed RIA changes, the DHS would:
- Create new regulatory definitions for terms like Capital, Comprehensive Business Plan, and High Employment Area, several of which lacked formal definitions until now.
- Establish a new $1,400,000 minimum investment threshold specifically for projects in designated High Employment Areas, areas with unemployment well below the national average. This sits above the existing standard minimum of $1,050,000 and the $800,000 threshold for Targeted Employment Areas, rather than replacing either.
- Confirm that EB-5 capital must stay “at risk” for a minimum of two years from when funds reach the job-creating entity, addressing a long-standing point of uncertainty for investors dealing with visa backlogs.
- Expand DHS authority to deny, revoke, suspend, or terminate regional centers and associated parties for fraud, material misrepresentation, or national security concerns, along with new investor protections letting good-faith investors preserve eligibility if their regional center or project runs afoul of the rules.
- Remove “troubled business” as a standalone path to EB-5 eligibility.
Regional centers, developers, and investors have until August 31 for submitting feedback. The DHS considers a final rule afterwards.
As always, ILBSG actively monitors ongoing U.S. immigration news. If you have questions about any U.S. immigration related issue, contact us. Working with an experienced attorney ensures you get the right advice based on the most recent laws. In an ever-evolving immigration policy landscape, it’s particularly critical you get the right advice.