New EB-5 Rules Carry Significant Consequence to the South Florida Market

L-R: Julian Montero, Roger Bernstein, Rohit Kapuria, and Ronald Fieldstone.

As a result of a new agency rule, potential EB-5 investors will be scurrying to invest in the EB-5 program in rapid fashion, many of whom desire to invest in the South Florida economy and emigrate to South Florida. On July 24, U.S. Citizenship and Immigration Services (USCIS) published a final rule amending the Department of Homeland Security (DHS) regulations governing the employment-based, fifth preference (EB-5) immigrant investor classification and associated regional centers.

Under the EB-5 program, qualified individuals are eligible to apply for lawful permanent residence in the United States if they make the necessary investment in a commercial enterprise in the United States and create or, in certain circumstances, preserve 10 full-time jobs for qualified U.S. workers.