EB-5 News: 50 Days Left To Apply At The $500,000 EB-5 Visa Rate
In the latest EB-5 news, on Friday, President Trump signed the Continuing Resolution extending the EB-5 Regional Center Program through November 21, the same day the EB-5 Modernization Regulation takes effect. This means interested individuals have 50 days left to not only apply prior to the EB-5 sunset date, but to apply at the $500,000 EB-5 visa rate.
Starting November 21, 2019, the EB-5 Modernization Rule will go into effect and it will increase the EB-5 minimum investment rate to $900,000 for targeted employment area (TEA) projects and $1.8 million for non-TEA projects.
The increase to the minimum investment amount isn’t the only significant EB-5 change that will take place. The new EB-5 rule takes away states’ authority over targeted employment area designation and makes it the sole authority of the Department of Homeland Security. It’s possible that locations that were once considered TEAs will no longer be considered them after the rule goes into effect.
To avoid the complications and stress that could arise when the EB-5 Regional Center sunset date approaches as well as once the EB-5 Modernization Rule takes effect, file prior to the November 21st deadline to be grandfathered in under the current EB-5 rules.
3 More Reasons to Apply Now:
In addition to saving $400,000, getting grandfather in under current rules, and avoiding the stress of the EB-5 sunset date, here are 3 more reasons why you may want to consider applying for the EB-5 visa now:
1. You may find it more challenging to transfer $900k out of your home country.
2. Not only will you be learning the new EB-5 rules when you apply after the regulation goes into effect, but an entire industry will also be learning and adjusting to them too, meaning that it’s possible that you might face delays at several steps in the EB-5 process.
3. EB-5 projects that qualify as targeted employment area projects now may not qualify under the new rules. In the future, this may lead to more projects located in less desirable and more risky areas.
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