By Dorothy Atkins (August 25, 2022, 6:18 PM EDT) — U.S. Citizenship and Immigration Services has agreed to rescind recent reforms to the EB-5 visa program to resolve allegations by regional centers that the changes misinterpreted congressional intent, according to a proposed settlement filed in California federal court Thursday.
The federal government and a group of regional centers — or entities that pool and facilitate investments from foreign investors in the EB-5 program — struck the proposed deal under which the USCIS agreed that previously approved centers can retain their approval, and they must file a renewal application by Dec. 29 and pay a filing fee to maintain authorization.
The settlement also says EB-5 investors may…
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