EB-5 Program Legislation Update

After several rounds of legislative negotiations that have been unfolding over the last several months regarding the future of the EB-5 program, the U.S. Congress has decided to simply extend the EB-5 program, without any changes, through September 30, 2016.

This means that every aspect of the program, including the minimum investment amount requirements and Regional Center related provisions, has been left unchanged. This is a relief to many in the EB-5 industry, as many of us took issue with several of the proposed changes. With this news, investors who filed their I-526 petitions prior to the original EB-5 program deadline of September 30, 2015 can be reasonably assured that their EB-5 package will continue to be adjudicated pursuant to the same rules under which it was filed.

There is still the possibility that changes could later be made, particularly with regards to the required minimum investment amounts. At this time, however, the EB-5 program remains unchanged. We will continue to monitor and report on any future legislation surrounding this important immigration status.