Welcome back to the Immigration Lawyer Blog, where we discuss all things immigration. In this video, attorney Jacob Sapochnick informs you of an exciting new court decision handed down by a federal judge from the Northern District of California. This new court decision immediately vacates the 2019 Modernization Rules passed under the Trump administration. As our readers will be aware, the 2019 Rules sought to raise the minimum investment amount for EB-5 investors from $500,000 to $900,000, narrowing the pool of applicants able to apply for a green card. The good news is that this new ruling reinstates the original rules governing the EB-5 visa program and reverts the minimum investment amount back to $500,000.
In addition to this exciting news, Jacob discusses further updates regarding immigration reform bills before Congress, pending litigation against the State Department, and more!
Want to know more? Keep on watching for all the details.
New Court Ruling Reinstates $500,000 Minimum Investment Amount for the EB-5 Immigrant Investor Program
We are happy to announce that thanks to a new landmark court decision, known as matter of Behring Regional Center LLC V. Chad Wolf et al. EB-5 Immigrant Investors will now have the opportunity to invest a minimum amount of $500,000 in an EB-5 project within a geographic area, considered a Targeted Employment Area. On June 22nd Federal Judge Corley announced in a court ruling that the 2019 Modernization Rule passed under the Trump administration would be vacated immediately, considering that the former acting DHS Secretary, Kevin McAleenan was not properly appointed to his position under the Federal Vacancies Reform Act when he implemented the 2019 Modernization Rule. As a result, Mc Aleenan did not have the authority to issue the rule, and it has now been declared invalid under the eyes of the law.