The Visa Bulletin is a monthly publication by the U.S. Department of State that outlines immigrant visa availability for different preference categories and countries. It provides crucial information for individuals waiting to process their immigrant visa applications, guiding them on when they can proceed with the next steps in the immigration process. DOS Website where visa bulletin is updated monthly: https://travel.state.gov/content/travel/en/legal/visa-law0/visa-bulletin.html (https://travel.state.gov/content/travel/en/legal/visa-law0/visa-bulletin.html) Chart A: Final Action Dates for Employment-Based Preference Cases On Chart A, the listing of a date for any class indicates that the class is oversubscribed (see paragraph 1); "C" means current, i.e., numbers are authorized for issuance to all qualified applicants; and "U" means unauthorized, i.e., numbers are not authorized for issuance. (NOTE: Numbers are authorized for issuance only for applicants whose priority date is earlier than the final action date listed.) Chart B: Dates for Filing of Employment-Based Visa Applications Chart B reflects dates for filing visa applications within a timeframe justifying immediate action in the application process. Applicants for immigrant visas who have a priority date earlier than the application date in the chart may assemble and submit required documents to the Department of State’s National Visa Center, following receipt of notification from the National Visa Center containing detailed instructions. The application date for an oversubscribed category is the priority date of the first applicant who cannot submit documentation to the National Visa Center for an immigrant visa. If a category is designated “current,” all applicants in the relevant category may file, regardless of priority date. The “C” listing indicates that the category is current, and that applications may be filed regardless of the applicant’s priority date. The listing of a date for any category indicates that only applicants with a priority date which is earlier than the listed date may file their application.

The Immigration and Nationality Act (INA) defines a child as a person who is both unmarried and under 21 years old. If someone applies for lawful permanent resident (LPR) status as a child but turns 21 before being approved for LPT status (also known as getting a Green Card), that person can no longer be considered a child for immigration purposes. This situation is commonly referred to as “aging out” and often means that these applicants would have to file a new petition or application, wait even longer to get a Green Card, or may no longer be eligible for a Green Card. Congress recognized that many children were aging out due to large USCIS processing backlogs, so it enacted the Child Status Protection Act (CSPA) to protect certain children from aging out. CSPA does not change the definition of a child. Instead, CSPA provides a method for calculating a person’s age to see if they meet the definition of a child for immigration purposes. The calculated age is the child’s “CSPA age”. This allows some people to remain classified as children beyond their 21st birthday. However, CSPA does not change the requirement that you must be unmarried in order to remain eligible for classification as a child. USCIS Updates CSPA Age calculation for Certain Adjustment of Status Applicants On February 14, 2023, USCIS issued guidance in the USCIS Policy Manual to update when an immigrant visa number “becomes available” for the purpose of calculating a noncitizen’s age in certain situations under the CSPA. Congress enacted the CSPA to protect certain noncitizen children from losing eligibility to obtain LPR based on an approved visa petition by providing a method to calculate the child’s age that considers when an immigrant visa number “becomes available”. The Department of State’s Visa Bulletin is used to determine when a visa number becomes available. The Visa Bulletin has two charts - the Dates of Filing chart (chart B) and the Final Action Date chart (chart A) [Read more about Visa Bulletin]. Under the previous CSPA guidance, USCIS considered a visa available for purposes of the CSPA age calculation based only on the Final Action Date chart (chart A), even if a noncitizen could apply for adjustment of status using the earlier date in the Dates for Filing chart (chart B). Under the new guidance, USCIS will now use the Dates for Filing chart (chart B) to calculate these noncitizens’ ages for CSPA purposes, which provides these noncitizens with more certainty about their eligibility to adjust status. CSPA Age Calculation Age at the time of visa availability - Pending time = CSPA Age While an applicant must file an adjustment application or otherwise seek LPR status in order to benefit from CSPA, the date the applicant files an adjustment application is not relevant for the CSPA age calculation. 》Example: The applicant is 21 years and 4 months old when USCIS considers an immigrant visa available. The applicant’s underlying petition was pending for 6 months. The applicant’s CSPA age is calculated as follows: 21 years and 4 months - 6 months = 20 years and 10 months Therefore, the applicant’s CSPA age is under 21. Determining Age at Time of Visa Availability In order to calculate an adjustment applicant’s CSPA age according to the formula above, the officer must first determine the age at time of visa availability. In order for the immigrant visa to be considered available for CSPA purposes, 2 conditions must be met: 1. The petition must be approved, and 2. The visa must be available for the immigrant preference category and priority date. Therefore, the date the visa is considered available for employment-based preference applicants is the later of these 2 dates: • The date of petition approval, OR • The first day of the month of when USCIS considers a visa available for accepting and processing an adjustment of status application for that immigrant preference category and priority date. Reference Links: CSPA: https://www.uscis.gov/green-card/green-card-processes-and-procedures/child-status-protection-act-cspa(https://www.uscis.gov/green-card/green-card-processes-and-procedures/child-status-protection-act-cspa) USCIS updates CSPA: https://www.uscis.gov/newsroom/alerts/uscis-updates-child-status-protection-act-cspa-age-calculation-for-certain-adjustment-of-status(https://www.uscis.gov/newsroom/alerts/uscis-updates-child-status-protection-act-cspa-age-calculation-for-certain-adjustment-of-status) DOS Website where visa bulletin is updated monthly: https://travel.state.gov/content/travel/en/legal/visa-law0/visa-bulletin.html(https://travel.state.gov/content/travel/en/legal/visa-law0/visa-bulletin.html)

On March 15, 2022, the President signed into law the EB-5 Reform and Integrity Act of 2022 (the 2022 Act), Div. BB of the Consolidated Appropriations Act, 2022, P(https://www.govinfo.gov/link/plaw/117/public/103)ublic Law 117-103.(https://www.govinfo.gov/link/plaw/117/public/103) Among other things, the 2022 Act immediately repealed the former authorizing statutory provisions under the Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act 1993, Public Law 102-395, 106 Stat. 1828, § 610, and added new authorizing provisions to the Immigration and Nationality Act, substantially reforming the Regional Center Program effective May 14, 2022. The reformed Regional Center Program is authorized through September 30, 2027. Changes made to the EB-5 program under the EB-5 RIA 2022 includes: • Minimum capital investment • Definition of TEA • Reserved EB-5 visas • Concurrent Filing for Adjustment of Status • Source of funds • Indirect job limits • Repayment timeline • Innocent Investor Protection • Increase Regional Center regulation

The EB-5 program takes up 7.1% of the total available employment-based (or EB) visas annually. The program typically has a cap of 10,000 new visas issued per year, however, this numerical number is not fixed as the total EB visas varies each year. Prior to the EB-5 RIA 2022, the EB-5 visa was divided into the Non-Regional Center and the Regional Center categories. Under the EB-5 RIA 2022, the EB-5 visa is divided into 4 categories: Unreserved: • Investors & families investing in non-TEA projects • Investors & families invested before the EB-5 RIA 2022 was passed 10% set aside - High Unemployment: • Investors & families investing in qualified High Unemployment TEA projects. 20% set aside - Rural • Investors & families investing in qualified Rural TEA projects. 2% set aside - Infrastructure • Investors & families investing in qualified Infrastructure projects.

A TEA is a geographical area that is considered rural or has an unemployment rate of at least 1.5 times the national average. The required minimum investment fund for TEA projects is lower than non-TEA projects. Investments made in TEAs qualify for a reduced minimum investment amount compared to non-TEAs. This incentive aims to encourage economic development in areas facing employment challenges. High-unemployment TEA (sometimes also referred to as Urban TEA) A high-unemployment area refers to a region with an unemployment rate at least 150% of the national average. Rural TEA A rural area is characterized by a location outside a metropolitan statistical area or a city with a population exceeding 20,000. Infrastructure Capital investment project in a filed or approved business plan, which is administered by a governmental entity (such as a Federal, State, or local agency or authority) that is the job-creating entity contracting with a regional center or new commercial enterprise to receive capital investment ... as financing for maintaining, improving, or constructing a public works project.”

Concurrent filing is a process within the EB-5 program that allows investors, who are already here in the U.S., and their dependents to simultaneously submit their Form I-526E (“Immigrant Petition by Regional Center Investor”) and Form I-485 (“Application to Register Permanent Residence or Adjust Status”) along with Form I-765. This streamlined approach enables investors and their dependents to legally live, study, work in the U.S. and re-enter the U.S. without having to apply for additional visas – through USCIS issuing EAD cards and Advance Parole documents or Combo Cards, while waiting for their I-526E petition to be processed.

Source of funds is a critical element requiring investors to thoroughly document the lawful origin of their investment capital. This process involves providing comprehensive evidence demonstrating the legal acquisition of funds, ensuring compliance with USCIS requirements and bolstering the transparency and legitimacy of the EB-5 investment. Under the EB-5 RIA 2022, source of funds now also include administrative fees and other investment related expenses.

Under the EB-5 RIA 2022, no more than 90% of total jobs created can be indirect jobs for Regional Center investors. Only 75% of jobs can be impacted from construction lasting less than 2 years.

The old EB-5 law required that investors must sustain their investment throughout their conditional residence, meaning up until their 2 years Conditional Green Card has expired. Even if their I-829 (Petition by Investor to Remove Conditions on Permanent Resident Status) is not yet approved, investors can still become eligible for repayment. According to USCIS' interpretation, the EB-5 RIA 2022 removed the requirement that the investor must sustain their investment throughout their conditional residence, and that the investment must remain invested for at least two years only. • Investors filing under the EB-5 RIA are subject to the new 2-year maintenance period, while investors filed under the old law (pre-RIA) are subject to the old regulation and must sustain their investment until the Conditional Green Card has expired. • The clock starts when the full amount of the EB-5 required investment ($800,000 USD for TEA-qualified projects or $1,050,000 USD for non-TEA qualified projects) is transferred to the Job Creating Entities (JCE). • If the investment fund has remained in the JCE for 2 years but the I-526E petition has not been filed, the investment cannot be repaid until the I-526E has been filed. • The investor can still be eligible for repayment prior to USCIS adjudicating their I-526E petition, as long as all conditions are met. • If the investment is sustained for 2 years but less than 10 jobs have been created, the investment cannot be repaid until the minimum job creation requirement is met. • The actual repayment timeline is determined in each project's offering documents and may differ. Investors must follow the timeline and terms stated in the offering documents that are accepted and signed by the investors prior to their investment. The agreement is binding and does not automatically change due to immigration policy changes. With this being said, specific investment terms can be modified only if both the investor and the fund manager agree to make the changes.

Adds protection to investors who suffer termination or debarment of their regional center, New Commercial Enterprise (NCE) or Job Creating Entity (JCE). As long as their investment arrangements were generally qualified, within 180 days of such adverse action and notice, they can associate with replacement entities and make additional investment if needed without losing priority date or child status protection. Children of investors who gained conditional residence and then lost it by entity termination or debarment or got I-829 denied may keep their child status in connection with a second petition filed by the parents within one year.

Regional centers are now subject to more regulations including: (1) being audited every 5 years, (2) no foreigner or foreign government are allowed to own a regional center, (3) no one with a criminal record is allowed to be involved in a regional center, (4) file annual reports to include certifications of securities, other compliance and conditions including all marketing fees paid, (5) EB-5 Integrity Fund will be established and each RC will need to pay an annual fee of $20k, or $10k for those with 20 or fewer investors per year, and many other regulations.