Good news: This morning DHS withdrew their appeal of Behring Regional Center LLC v. Alejandro N. Mayorkas, et al (21-16421). (Congrats Behring Regional Center). This is welcome news and clears up questions and uncertainty for pending I-526 petitions that may have been impacted since DHS filed their initial appeal, including:
· The November 2019 EB-5 Immigrant Investor Program Modernization Rule remains vacated and invalid.
· Pre-November 2019 EB-5 regulations remain in effect, including $500,000 minimum investment amounts projects located in qualifying TEAs
· I-526 petitions that have been filed since June 2021 will be adjudicated under the Pre-November 2019 EB-5 regulations, including petitions that qualify under the $500,000 minimum investment amount and TEA certification rules (such as TEA letters issued by state and local agencies).
· New direct I-526 petitions that are filed will also be adjudicated under the pre-November 2019 regulations.
In short, this means $500K investment amounts is the law of the land and will continue to be so unless Congress or DHS (properly) raises it in the future. Our previous advice also remains the same: the only way to guarantee your I-526 will be accepted with the $500K investment amount is to file sooner rather than later. Still welcome news as we all await RC reauthorization.