What exactly happened on December 3, 2021? Why is the Regional Center Program still closed?
What exactly happened on December 3, 2021? Why is the Regional Center Program still closed?
Answers
On October 2, 2021, we said that “Although the parties are still negotiating how the final budget bill, including the EB-5 Program, Congress will pass, will look like, many EB-5 industry professionals believe that on or before December 3, 2021, they will approve it as is (or a similar version to it). The President will then sign it into law.”
Alongside many other EB-5 industry professionals, we were wrong again. The budget bill passed on December 3rd, but the EB-5 Regional Center program was left out again. We are now hoping that by February 18, 2022, a version of the term sheet jointly submitted by the various EB-5 industry interest groups will be approved and signed into law. Investors who cannot wait any longer and would like to move forward could certainly consider EB-5 Direct program that never lapsed.
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