OMB Completes Review of EB-5 Modernization Regulations
June 28, 2019
American Immigration Lawyers Association Reports:
On June 27, 2019, the Office of Management and Budget (OMB) completed review of the EB-5 Immigrant Investor Program Modernization final regulation.
In order for this final regulation to become effective, it must be published in the Federal Register. The timing for the publication of this final regulation in the Federal Register has not been announced. Once published in the Federal Register, a final regulation generally becomes effective no less than thirty days after the date of publication, though a federal agency may allow for a longer time frame (e.g., 60 days) before a final regulation becomes effective.
Please note that the text of the final regulation has not yet been made available to the public.
Carolyn Lee PLLC is monitoring this development closely.