Here’s an overview of the latest news and changes heading toward the EB-5 investor visa USA in two weeks.
November 21, 2019 is not only the date the EB-5 Modernization Regulation goes into effect, but it is also the sunset date of the program EB-5 Regional Center Program.
The EB-5 Modernization Regulation News
This new rule is set to make two major changes to the EB-5 investor visa USA.
1. The minimum investment amounts will be raised for the first time in nearly 30 years. TEA-investment amounts will increase from $500,000 to $900,000 and non-TEA-investments will increase from $1 million to $1.8 million. These amounts will also be adjusted every five years to account for inflation.
2. The Department of Homeland Security, not the states, will be the sole authority for designating targeted employment areas. A goal of DHS is to crack down on the use of gerrymandering in TEA designations so that TEA investment amounts truly go to high unemployment areas.
Interested foreign investors can still apply before the November 21, 2019 deadline to lock in the lower minimum investment amounts as well as be grandfathered into the program under current rules.
The EB-5 Regional Center Program Sunset Date News
A short-term bill is funding the government through November 21, but Congress must pass an additional appropriation bill to extend funding through the year or face a government shutdown. The EB-5 Regional Center Programs is one of the programs that is continually reauthorized through these continuing resolutions. The EB-5 Direct Investment Program, however, is permanent.
According to Reuters, Republican Richard Shelby, Senate Appropriations Committee Chairman, stated that a range of dates for the duration of the next stop-gap federal funding bill were being considered. “My assessment the other day was it would probably go through February. I could be totally wrong,” said Shelby.
They may pass a bill through February, 2020, through January 2020, or only part-way through December 2019. It’s also possible that a government shutdown could occur again as it did for 35 days in December 2018 and January 2019. The Congressional impeachment inquiry has Congress currently at major odds with the President. Furthermore, President Trump may threaten to shutdown the government if he doesn’t receive the long requested funds for his border wall and other policies.
A series of upcoming holiday breaks also have the public wondering whether Congress will be able to effectively pass a continuing resolution in time.
- New York
Subscribe for News
Join Professionals on EB5Projects.com →
This website is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities. Any such offer or solicitation will be made only by means of an investment's confidential Offering Memorandum and in accordance with the terms of all applicable securities and other laws. This website does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment whatsoever. EB5Projects.com LLC and its affiliates expressly disclaim any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in the website, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting therefrom.