The annual IIUSA Industry Forum took place last week in Washington D.C., coming at pivotal juncture for EB-5 industry. The timing proved perfect for discussions with industry stakeholders and introspection throughout the community.
Here are a few of the key takeaways:
Reauthorization is the Top Priority
Reauthorization of the EB-5 Regional Center Program was clearly the defining issue facing the industry, with timelines now driving both policy and market behavior. While the formal sunset of the program is set for September 30, 2027, the more immediate deadline is the September 30, 2026, grandfathering deadline.
This earlier date is already shaping how investors, developers, and regional centers are approaching filings and capital raises. The consensus at the event was that the industry is no longer operating on a long runway, and is in a compressed window where decisions made over the next 12 to 18 months will materially impact the program’s future. As a result, reauthorization is not being treated as a distant legislative milestone, but as an urgent, present-day priority requiring coordinated action.
A consistent and emphatic message throughout the forum was the need to secure reauthorization well in advance of the 2027 sunset, rather than relying on last-minute congressional action. Industry leaders pointed to the 2021–2022 lapse in the Regional Center Program as a clear warning, noting the disruption it caused to adjudications, investor confidence, and overall market stability.
The prevailing view is that allowing reauthorization to drift toward the deadline would reintroduce unnecessary risk and uncertainty at a time when the program is functioning effectively under the Reform and Integrity Act. As such, IIUSA and other stakeholders are expected to intensify lobbying and advocacy efforts throughout 2026 and into early 2027, with the goal of achieving a timely extension that preserves continuity. The emphasis is on proactive engagement with lawmakers to ensure that EB-5 remains a reliable and uninterrupted source of capital, rather than a program subject to cyclical instability.
There is reason for optimism on the reauthorization front as industry leaders are reporting more members of Congress are familiar with Eb-5 and are expressing positive attitudes toward the program. With the creation of set-aside categories and uniform TEA rules, significantly more areas of the country are directly experiencing the benefits of EB-5 projects.
While reauthorization is the main legislative priority, it is not the only focus of IIUSA’s lobbying efforts. Preventing minor derivatives from aging out and increasing visa availability are also high priorities. It is believed by many in the community that the original intent of the program was to count only the petitioner against the visa cap.
EB-5 By the Numbers
As in past years, the event produced a treasure trove of useful data. Here are a few of the numbers that caught our attention:
- 14,500 – This represents the total number of I-526E petitions filed since the EB-5 Reform and Integrity Act of 2022 took effect. This translates to $11.6 Billion in investment into projects in the United States and more than 232,000 jobs created by the program.
- 50%/23% – These percentages represent the percentage of total investors from China and India respectively. Taiwan, Vietnam, and South Korea round out the top 5.
- 48%/46% – These figures represent the percentage of total investors since the RIA took effect that have invested in the high unemployment and rural set-aside categories, respectively.
- 3,171 – This number represents the number of I-526E petitions that have been adjudicated by USCIS. Approximately 80% of these adjudicated cases have involved investments in projects in the rural set-aside category.
- 97% – The percentage of adjudicated petitions that have been approved by USCIS, a significant increase from pre-RIA EB-5.
Rural Likely to Retrogress Before HUA
With USCIS following through on its promise to prioritize rural petitions, visa numbers in the rural set-aside category for China and India are starting to become scarce. While a final action date is not expected in the next month or two, the rural set-aside category appears likely to experience retrogression at some point this year for Chinese and Indian investors.
Although nearly the same number of petitions have been filed for high unemployment projects, the slow pace of adjudication by USCIS has left plenty of available visas. It could possibly take years before retrogression occurs for Chinese and Indian investors in the high unemployment set-aside category. Concurrent filers, often Indians on an H-1B visa or Chinese students, have overwhelmingly preferred rural projects of late, may flock to high unemployment projects once the rural set-aside category has retrogressed.
Do Not Move Too Fast
With upcoming deadlines such as the September 30, 2026, deadline to take advantage of the grandfather clause and the EB-5 investment amount increase set to take effect on January 1, 2027, investors are going to be in a hurry to file their I-526E petitions the remainder of the year. However, rushed filings for previous deadlines have resulted in increased denials and RFEs.
Investors looking to file before one of the upcoming deadlines should not wait until the last minute to start the process. Some I-526E petitions can be complicated, and investors will need to allow adequate time to gather source of funds documentation and amass the $800,000 investment, which often requires selling real estate or stock, or securing a loan.
Gold Card Has Little Impact on EB-5
While the introduction of the Gold Card through Presidential proclamation offers another path to U.S. residency through investment, it has not impacted demand for EB-5. There appear to be several reasons why EB-5 remains a much more popular option, including the fact that EB-5 has been authorized by Congress as opposed to a Presidential proclamation.
Additionally, an EB-5 investment is intended to be repaid after a set period, whereas the Gold Card is a donation that Is never paid back. The $1 million per person price tag of the Gold Card also places this option out of reach for many EB-5 investors.
The above article is intended for informational purposes only. Anyone with a spec issue pertaining to EB-5 should consult with an experienced immigration attorney.
