Congress extends EB-5 Regional Center program to March 31st.
EB-5 program predicted to thrive under Trump, but given existing opposition, now is the time to invest.
Did you know?
Did you know that on November 18th, The Real Deal hosted a panel of EB-5 experts in Shanghai, who announced that the EB-5 program will likely continue to thrive under President Elect Donald Trump? “His strong stance [is] against illegal immigration,” former New York Gov. George Pataki said. “And EB-5 is a legal immigration program. He understands the need for capital, the need for investment.”
The expected bright future of the program is not the only good news. Last month, Congress granted a temporary extension ensuring the requirements for the EB-5 program would remain unchanged at least until December, even as lawmakers are trying to raise the minimum investment from $500,000 to $800,000. Fortunately, Congress just announced that current government funding will in fact be extended until March 31, 2017, which means that the Regional Center law will likely also be extended to March 31st. As previously mentioned, however, an EB-5 reform package is under discussion, and any decision will likely be made before March 31st. Once a decision is reached, any new reform will probably not be considered for the next several years.
This means that for investors, now is the time to begin the EB-5 investing process, and for lawyers or real estate developers, to lobby Congress to continue extending the EB-5 program.
Posted by americaeb5visa on November 20, 2016