EB-5 immigrant investor program gets 3-month reprieve

EB-5 immigrant investor program gets 3-month reprieve

EB-5 Visa, EB5 Visa, EB-5 Investment

The main part of the EB-5 immigrant investor program has been extended by the Congress until December 9, 2016.

EB-5 offers residency to wealthy foreigners if they invest in job-creating development projects, with a minimum of $1 million, or $500,000 in rural areas.

Since EB-5 was started, it’s funneled nearly $15 billion in mostly Chinese money into construction projects, including the $20 billion Hudson Yards development in Manhattan.

According to a report from the Brookings Institution, the program has created more than 85,000 jobs across the country and generated billions more in business.

Several high-profile fraud cases, however, have leds to call for reform, and outright abolishment of the program.

A Continuing Resolution signed by President Barack Obama last week extends authorization of the EB-5 Regional Center Program through December 9.

The national not-for-profit trade association for the EB-5 Regional Center, IIUSA said it was pleased with the stop-gap measure.

“The extension provides EB-5 stakeholders more time to work for important reforms that improve rigorous vetting of both projects and investors, while allowing the program to continue transforming communities and providing quality American jobs,”said IIUSA Executive Director Peter D. Joseph.

Joseph claimed a minimum of $11 billion in community investment and over 220,000 American jobs would disappear if the EB-5 Program lapses, causing immediate negative consequences to U.S. businesses and projects counting on EB-5 investment to create jobs.




  • New York

Securities Disclaimer

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.