The EB-5 program allows investor to obtain a green card if they invest either $500,000 or $1,000,000 in business or projects that will ultimately create 10 full-time jobs.
A full summary of the EB-5 requirements can be obtained by clicking here.
The program has been accused of permitting foreign nationals to “buy” green cards and some regional centers have come under heavy scrutiny for SEC and other violations. As a result, over the past few years, many have called for reform (and even elimination) of the program. The program was set to expire (or be transformed) on April 28th, 2017 but it has yet again been extended.
The controversial EB-5 program has been extended without change until September 30th, 2017. As such, the regional center program will remain intact and investors can invest $500,000 in programs that will ultimately create 10 full-time jobs to obtain a green card. While many potential changes have been looming for some time, it is likely that change will occur on September 30th. While this is just a prediction, it seems likely as there have been concrete proposals on the table for some time and the new administration is in place now. One key change will likely be the increase of the investment amount from $500,000 (for some low economically performing areas) to some higher amount (eg. $800,000). It is also expected that the $1,000,000 investment amount may increase to $1,300,000 or more along with other changes. As it stands though, investors can continue to invest in the EB-5 program in the same manner as before. We will monitor new developments and keep you posted.
To find out more about some of the proposed EB-5 changes click here.
To find out more about the new rules or other investor visas, contact Scott Legal, P.C.
Ian E. Scott, Esq. is the Founder of Scott Legal, P.C. He can be reached at 212-223-2964 or by email at firstname.lastname@example.org.
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