A new USCIS policy memorandum clarifies requirements for deployment of capital for EB-5 applicants (investor visa). This establishes that the purchase of financial instruments on the secondary market will generally not satisfy such requirements. It clarifies that capital may be further deployed into any commercial activity that is consistent with the purpose of the new commercial enterprise, within its lawful bounds.
This clarification supersedes the language that allowed municipal bonds as a specific type of potentially permissible financial instrument in the context of further deployment. It also provides that further deployment must be through the same new commercial enterprise and within the geographic area of the same regional center, including any amendments to the regional center’s geographic area approved before the further deployment.
It also explains that, based on an internal review and analysis of typical EB-5 capital deployment structures, USCIS generally considers 12 months as a reasonable amount of time to further deploy capital, but will consider evidence showing that a longer period was reasonable.
You can download the .pdf file with the entire update HERE