Congress and the Trump administration had a challenging weekend with the United States Federal Government shutting down at midnight on Friday January 19th. After much acrimony from both the Republicans and Democrats, the moderates from both parties convinced their fellow legislators to compromise and give an extension to February 8th. This is indeed not much of an extension, but at least we did see a compromise.
For EB-5 this means applications will be accepted until February 8th. But the probable reality is we will see another necessary extension or hopefully a bipartisan agreement on a budget for fiscal 2018, which will extend the EB-5 program as well.
For those to whom a Green Card for themselves and their families is of critical importance now is the time to act. Yes the program will be extended. However, remember that USCIS has announced that they will promulgate new regulations in February. These new regulations will include a substantial increase in the investment amount. We do not know when these will take effect. DO NOT WAIT for if you do you may find yourself paying twice as much for your Green Card and having to meet more stringent documentation requirements on your source of investment funds.
Please feel free to contact us or call 415-221-2345 if you have questions.