The Department of Homeland Security has just released the most sweeping EB-5 regulatory proposal since the Reform and Integrity Act passed in 2022. The rule hits the Federal Register on July 2, and it touches everyone in the ecosystem — investors, regional centers, developers, and for the first time, the overseas agents who market these projects.

The EB-5 immigrant investor program has entered a new era — and most project developers haven't caught up. For years, the playbook was relatively straightforward. Structure a project in a Targeted Employment Area, partner with a few overseas migration agents, put together a pitch deck, and wait for the capital to flow in. It worked well enough when demand was concentrated in a handful of feeder markets and investor expectations were fairly uniform. That world no longer exists

The EB-5 Immigrant Investor Program's resurgence in popularity among investors from Hong Kong, Taiwan, and mainland China.