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How will a legislative audit affect EB-5?

I have been reading that Congress is planning to audit the EB-5 program. What does this mean and how will this affect future EB-5 investments? Will there be a delay in processing if there is an audit, and would it be wise to invest now before the audit?

Answers

  • Avatar

    Reza Rahbaran

    Immigration Attorney
    Answered on

    As of now, the EB-5 program has been extended until the end of 2015. It is best to begin your EB-5 process as soon as possible.

  • Avatar

    Jinhee Wilde

    Immigration Attorney
    Answered on

    The Congressional audit is for policy reasons to determine if they will renew or extend EB-5 program in 2015. In case the program does not get extended, the sooner you invest and file your petition, the better your chance is for being grandfathered and receiving your green card.

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    Ed Beshara

    Immigration Attorney
    Answered on

    The RC is required to file an I-924A Application informing USCIS of what projects are associated with the RC and how many investors are investing in the associated EB-5 projects. These audited filings will not cause delays in the EB-5 adjudication process.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    It appears that this audit, which was only to be undertaken by one state (South Dakota) has already been rejected. The EB-5 program was extended until the end of 2015, but it is always beneficial to begin the process as soon as you are able.

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    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    No one knows if there will be any kind of an audit or what the audit will look like (how it will affect processing times), if there is one. I would imagine there would be delays, but since the processing already is so delayed, that would be hard to imagine.

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    Philip H Teplen

    Immigration Attorney
    Answered on

    One never knows the future. If you are ready to apply for the EB-5 program, then I suggest that you do so. I will be happy to help you.

  • Avatar

    Lynne Feldman

    Immigration Attorney
    Answered on

    Hard to know until it is started. It wouldn't hurt to be proactive though and get in first.

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