On September 28th, 2019, a Continuing Resolution was passed by Congress and signed by the President that extended the deadline for the EB-5 Regional Center Program. The program will be extended until November 21, 2019, the same date that the EB-5 investor visa minimum investment amount will increase.
There is no word on whether or not the Regional Center Program will be afforded another extension. Potential EB-5 applicants should take advantage of this extension, as the use of regional centers during the petition process can significantly simplify the application process. Regional centers are U.S. government-authorized organizations that connect EB-5 applicants with approved investment projects. These approved projects are researched and vetted by the team at the regional center, with all relevant data regarding the project compiled and verified. Approved projects must be a new commercial enterprise, established after 1990, and create at least ten jobs for Americans and those eligible to work in the United States.
In addition to the extension of the regional center program and the upcoming increase, there have been a number of updates to the EB-5 processing times. If you are interested in applying for the EB-5 visa, you have just a couple of months until the expiry of both the EB-5 regional center program and the current EB-5 minimum investment.
Not sure if the EB-5 is right for you? For more information on the EB-5 investor visa, click here.