As we all know we are in a period of change. We have the December 9th deadline looming in only about five weeks. We are in an election cycle like no other. If you are like me you can’t wait until this ugly acrimony ends and a stable future begins. All of this uncertainty makes the decisions we make more difficult, but all the more critical to our future. Let’s discuss what we actually know versus what the so called pundits are predicting.
Congress and December 9th
Congress must act on or before December 9th or we will see the EB-5 Regional Center program sunset. You will read and hear the pundits telling us that they know what Congress will do and what the EB-5 regulations of the future will bring us. Let me make it clear as I write this no one can accurately predict the future of EB-5. Any claim to the contrary is simply a guess, perhaps an educated guess, but none the less a guess. The political firmament of Washington is simply too complex to provide any certainty.
What could happen!
- Congress could let the EB-5 Regional Center program sunset. This appears unlikely (my guess) because the program does have significant political support as it has worked well to create a large number of jobs in Congressional Districts and States.
- Congress could just delay the decision and reauthorize the program for a short period or perhaps another year allowing the next Congress to enact the needed regulatory changes.
- Congress could enact the changes on which there is a consensus. This could include some additional regulation of the Regional Centers and an increase of the investment amount.
- Congress could reauthorize the EB-5 Regional Center program with the comprehensive changes that we have been reading about. It is my guess that this is perhaps unlikely with the limited time and attention available in Congress.
These are all just guesses and we could see these or something that combines aspects of these scenarios.
Filing Fees Changes December 23rd. One change that we will see is in the costs to investors and Regional Centers. The most significant to the individual investor is the increase for the investor’s I-526 which is going to more than double to $3675. These increased fees will take place on December 23, 2016.
What to do?What to do with this information and opinion? The direct answer to this question is a simple one. If an EB-5 based Green Card is important to you individually or to your family ACT NOW. We know what the law is today, but we do not know what the law will be in the future. Contact your Investment Immigration Attorney or your Licensed Migration Agent today. Please feel free to give us a call at 415-221-2345.