EB-5 Program Extended until September 30, 2017
On May 5, 2017, the U.S. president signed a bill (which was passed by both House of Representatives and the Senate) extending the EB-5 Regional Center Program through September 30, 2017, without any modifications.
This means that foreign investors have only five (5) months left to invest through the EB-5 program on current terms, and Regional Centers have the same amount of time to raise EB-5 funds before imminent changes to the EB-5 Program occur.
We assume that this will be the last extension of the program with no changes. Changes, which will likely to happen after September 30, 2017, will include increase of the investment amounts, a change of the definition of “Targeted Employment Areas” (TEAs) and increase of the compliance requirement, etc.
Please contact our attorneys if interested in submitting the EB-5 petition before the extended deadline.