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How does the government’s budget extension impact the modernization changes of the EB-5 program, which were set to start Thursday?

I just heard that Congress has passed a stopgap spending plan to keep the government running through Dec. 20, which must mean that the EB-5 regional center pilot program gets extended to the same date? Does this have any impact on the implementation of the new EB-5 criteria, including the increased investment amounts, that are scheduled to take effect this Thursday? Will the new requirements for the direct EB-5 investment be effective on Nov. 21?

Answers

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    The extension of the program to Dec. 20, 2019 in no way impacts the new regulations and the fact that the minimum investment amount and new TEA rules have been implemented as of Nov. 21, 2019.

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    Lynne Feldman

    Immigration Attorney
    Answered on

    Yes, new rules in effect on Thursday.

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    Charles Foster

    Immigration Attorney
    Answered on

    No impact at all.

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    BoBi Ahn

    Immigration Attorney
    Answered on

    Yes, that is correct. Despite the stopgap measure of extending the regional center pilot program to Dec. 20, 2019, the EB-5 modernization provisions that were included in July will take effect on Nov. 21, 2019, which include the increase in the minimum requisite investment amount to $900,000 for investment in a TEA, and to $1.8 million for all others, etc.

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