20/02/2019
We are pleased to announce that the EB-5 Immigrant Investor Program has now been extended to September 30, 2019, with the minimum required investment amount remaining at $500,000. The legislation extending the EB-5 Immigrant Investor Program was attached to the Consolidated Appropriations Act, 2019, a continuing resolution for funding the U.S. government through September 30, 2019.
Concerns regarding the reform of the EB-5 program remain in place. Congressional leaders and USCIS has for the past couple of years been discussion the implementation of various reforms to the program, including increasing the minimum required investment amount to $1.35 million, re-designation of TEA areas and increases in government fees. The latest 7 month extension, which is a relatively long period by recent standards, is aimed at giving law makers and various rule makers enough time to secure a legislative solution to the proposed to the EB-5 Program.
We would therefore recommend that if you are considering applying for the EB-5 program, it would be wise to start the process of planning and making arrangements to free up the capital in order to invest by the 30 September deadline. All applications filed before this date will not be affected by any future legislative changes.