February 18, 2019
With the passage of the new federal funding bill, the EB-5 Regional Center Program will now be authorized to continue until September 30, 2019.
Besides reauthorization, no new reforms have been announced since government shutdown & subsequent temporary re-opening of the program. However, due to the new change of leaders in the house & senate, who have expressed a more favourable view of the EB-5 Investor Visa Program, some are of the opinion that there is a better chance of reforms legislation being passed later this year.
Although the Direct EB-5 Investor Program (which requires an investment of $1,000,000) is permanent, the Regional Center Program has needed frequent renewals since it’s inception & has been extended for years by being attached to government funding bills.
Now that congressional leaders have expressed a more positive view of the program, there is more likelihood of reforms such as changes in visa caps, increase in investment amounts & other reform provisions being passed in the near future.
The EB-5 Regional Center Program allows investors to acquire US Permanent Residency (Green Card) in exchange for an EB5 investment of $500,000 in a Targeted Employment Area (TEA).
Migratesmart® will continue to follow this story closely & provide updates of any progress being made in legislation. Contact Us if you feel the EB-5 Visa Program is your chosen pathway to migrate to the USA.