Office of Management and Budget Provides Interesting Insight on Potential Investment Amount Increases

Investment Amount Increases Possible as Soon as August

A new agenda released by the US Office of Management and Budget (OMB) suggests that we may see an increase in EB-5 investment amounts as soon as August of this year. The OMB’s “Final Action” estimate is August for a set of changes that would both increase investment amounts and change key rules regarding Targeted Economic Areas (TEAs).

New Delhi American Consul Re-Adjudicating Some EB-5 Petitions

Our friend, Martin Lawler, recently wrote an interesting article about some instances of re-adjudication at the New Dehli American Consul that were surprising to say the least. Re-adjudication is not allowed under Department of State rules, so these new developments are quite interesting.

A few examples:

1. Although it is only required that an EB-5 investor demonstrate that their investment created 10 jobs when they file their I-829 Petition to Remove Conditions on Permanent Resident Status, the New Dehli American Consul asked one investor to demonstrate job creation before this point.
2. The Consul has been experienced asking applicants to provide information that had previously been provided in the applicants’ I-526 petition. In one instance, and investor was asked to provide bank statements and a letter explaining the source of funds, though this detail had already been fully provided in the applicant’s initial paperwork.

We are keeping an eye on this situation to see how it plays out.