All our clients are asking to give them a sense of the next reauthorization date of the EB-5 Regional Center program.
All our clients are asking to give them a sense of the next reauthorization date of the EB-5 Regional Center program. We are getting this question from our existing clients that already filed their I-526 applications and are waiting for their approvals and new potential clients waiting on the sidelines due to the uncertainty of the program's next reauthorization date.
We are hearing that the appellants', Department of Homeland Security, opening brief in the Behring lawsuit is due on December 6, 2021. Appellee's, Behring, answering brief is due on January 6, 2022, which suggests that we expect to wait until, at least, late January 2022 for the decision to be issued. In other words, it appears that we still have some time to process at the lower level of $ 500,000 unless the government chooses to use their authority to change the rules or Congress comes up with a fresh new EB-5 bill. Both of these scenarios are very unlikely. Please kindly click here to see the Time Schedule Order provided by IIUSA.
Consensus is developing that Congress may add the EB-5 Regional Center Program to the omnibus spending bill on September 30, 2021. If so, it may be extended, without any modification, until around December 10, 2021, or the end of the year.
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