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DHS/USCIS | RIN: 1615-AC11 | Publication ID: Fall 2018 |
Title: EB-5 Immigrant Investor Regional Center Program | |
Abstract:
The Department of Homeland Security (DHS) is considering making regulatory changes to the EB-5 Immigrant Investor Regional Center Program. DHS issued an Advance Notice of Proposed Rulemaking (ANPRM) to seek comment from all interested stakeholders on several topics, including: (1) The process for initially designating entities as regional centers, (2) a potential requirement for regional centers to utilize an exemplar filing process, (3) continued participation requirements for maintaining regional center designation, and (4) the process for terminating regional center designation. While DHS has gathered some information related to these topics, the ANPRM sought additional information that can help the Department make operational and security updates to the Regional Center Program while minimizing the impact of such changes on regional center operations and EB-5 investors. |
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Agency: Department of Homeland Security(DHS) | Priority: Other Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: No | Unfunded Mandates: No |
EO 13771 Designation: Other | |
CFR Citation: 8 CFR 204 8 CFR 216 | |
Legal Authority: 8 U.S.C. 1153(b)(5) Pub. L. 102-395, secs. 610 and 601(a) Pub. L. 107-273, sec. 11037 Pub. L. 101-649, sec. 121(a) Pub. L. 105-119, sec. 116 Pub. L. 106-396, sec. 402 Pub. L. 108-156, sec. 4 Pub. L. 112-176, sec. 1 Pub. L. 114-113, sec. 575 Pub. L. 114-53, sec. 131 Pub. L. 107-273 |
Legal Deadline:
None |
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Statement of Need: Based on decades of experience operating the program, DHS has determined that program changes are needed to better reflect business realities for regional centers and EB-5 immigrant investors, to increase predictability and transparency in the adjudication process for stakeholders, to improve operational efficiency for the agency, and to enhance program integrity. |
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Summary of the Legal Basis: The Immigration and Nationality Act (INA) authorizes the Secretary of Homeland Security (Secretary) to administer and enforce the immigration and nationality laws including establishing regulations deemed necessary to carry out his authority, and section 102 of the Homeland Security Act, 6 U.S.C.112, authorizes the Secretary to issue regulations. 8 U.S.C. 1103(a), INA section 103(a). INA section 203(b)(5), 8 U.S.C.1153(b)(5), also provides the Secretary with authority to make visas available to immigrants seeking to engage in a new commercial enterprise in which the immigrant has invested and which will benefit the United States economy and create full-time employment for not fewer than 10 U.S. workers. Further, section 610 of Public Law 102-395 (8 U.S.C.1153 note) created the Immigrant Investor Pilot Program and authorized the Secretary to set aside visas for individuals who invest in regional centers created for the purpose of concentrating pooled investment in defined economic zones, and was last amended by Public Law 107-296. |
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Alternatives: |
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Anticipated Costs and Benefits: DHS is still in the process of reviewing potential changes it would propose to the regional center process. DHS may propose to implement an exemplar filing requirement for all designated regional centers that would require regional centers to file exemplar project requests. An exemplar filing requirement could cause some projects to not go forward, but DHS is still in the process of assessing the impacts on the number of projects that may be affected. DHS anticipates that any proposed changes to the regional center program would increase overall program efficiency, transparency, and predictability for both USCIS and EB-5 stakeholders.
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Risks: |
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Timetable:
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Regulatory Flexibility Analysis Required: Yes | Government Levels Affected: None |
Small Entities Affected: Businesses | Federalism: No |
Included in the Regulatory Plan: Yes | |
RIN Information URL: www.regulations.gov | Public Comment URL: www.regulations.gov |
RIN Data Printed in the FR: Yes | |
Agency Contact: Brian Hunt Acting Chief, Business and Foreign Workers Division, Office of Policy and Strategy Department of Homeland Security U.S. Citizenship and Immigration Services 20 Massachusetts Avenue NW, Suite 1200, Washington, DC 20529-2200 Phone:202 272-8377 Fax:202 272-1480 Email: brian.j.hunt@uscis.dhs.gov |