As you may know, earlier this week, we expected Congress to attach to the budget bill a revision of the EB-5 Program that would’ve increased the investment amount dramatically. Well, Congress failed to do that, but what they have done for you, is they have continued the program until September under the same rules, which as you may know, it involves a $500,000 investment in an approved commercial enterprise, and with that investment, you can obtain a Green Card for yourself, your spouse, and your children under 21.
Now it’s been continued under the current law until September. And a lot of people are sitting back saying, ok good I have until September. But I want you to know the history and what has been happening in EB-5, because it should help you form your decision. No. 1 we expected new legislation, and that legislation could still happen in the very near future. And if that legislation were passed by Congress, it would go into effect immediately.
Now last year, USCIS told Congress that it is your job to reform this program, it is your job to increase the investment amount, but we have within our authority the power to increase the investment amount, and we believe it should be $1.35 million, almost three times what it is today.
Now do we know when Congress will act? No. Do we know now that USCIS will in all probability act? Yes. What we expect to happen is USCIS waited to see if Congress would act. They didn’t put forth their changes hoping that Congress would reform the program. Now USCIS has no alternative but to pass new regulation that will increase the investment amount.
We don’t know when that’s going to happen, so if you’re considering EB-5 for yourself and your family, the answer is move quickly. Move now before Congress can act and increase the investment amount, or new regulations can be promulgated by USCIS. If that happens, the investment amount is going to be increased dramatically, as well as many other requirements that could affect your application.
The warning I have is waiting is a big mistake. Contact our office or call 415-221-2345 and we will discuss EB-5 with you at no cost and determine if it is the path that’s best for you and your family.