On October 11, 2023, the United States Citizenship and Immigration Services (USCIS) announced a policy update regarding the minimum investment period for EB-5 visa applicants. This update aims to provide clarity on how USCIS interprets the changes brought about by the EB-5 Reform and Integrity Act of 2022 (RIA). According to the RIA, an investment should be retained for a minimum of two years, but it does not specify when the two-year period begins.
The new guidance, which can be found on the USCIS website, states that the two-year period starts when the investor's funds are utilized by the job-creating entity (JCE). As long as the EB-5 investor's investment has led to the creation of at least 10 jobs, they can be repaid after two years and still be eligible for a U.S. Green Card. This modification represents a significant change to the previous "at-risk" requirement for EB-5 investors.