The U.S. Citizenship and Immigration Services (USCIS) plays a central role in administering the EB-5 Immigrant Investor Program (the EB-5 Program), adjudicating petitions and implementing policies enacted by Congress. Since the EB-5 Reform and Integrity Act of 2022 (RIA) took effect, USCIS, particularly through its Immigrant Investor Program Office (IPO), has sought to standardize adjudications, reduce backlogs, and enhance program integrity.
Yet the rapid pace of statutory reform, litigation interventions, and surging investor demand has created operational and policy challenges. This article provides a practice-oriented, up-to-date review of EB-5 policy shifts, adjudication trends, administrative challenges, and their practical implications for investors, regional centers, and practitioners.
