December 24, 2018
As a result of the partial US government shutdown from the 22nd of December 2018, the following federal departments have been impacted – Agriculture, Commerce, Homeland Security, Housing & Urban Development, Interior, Justice, State, Transportation & Treasury.
This will have a clear impact on the EB-5 Investor Program. Following is the impact :
1. USCIS will continue to accept new filings for Forms I-526, I-829, I-485 & I-924
2. Adjudication on Forms I-526, I-485 & I-924 have been put on hold
3. Form I-829s submitted before or after shutdown will not be affected
In other words, this means that USCIS will not issue any “Conditional (2-year) Green Cards”, nor convert any conditional green cards into permanent ones. Further, the Department of Homeland Security will not issue any new regional center licenses.
Since the EB-5 Visa Program was created in 1990, the US Congress has been granting temporary extensions. However, this has caused uncertainty amongst investors since they are unable to ascertain the future of the program. The US EB-5 Visa Program is due for structural changes. What those changes could be is something we all have been looking forward to. We all hope that the changes are announced soon, so that a clearer picture emerges with regard to the direction the program will be taking, which in turn will help investors be more confident in investing in the program.