Short Term EB-5 Extension to 12/7/2018; Long Term Extension May Be Within Sight

Posted on 09/21/2018 by Mark A. Ivener, A Law Corporation

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House Appropriations Chairman Rodney Frelinghuysen’s recent announcement that the government will continue to be funded through December 7th via a continuing resolution has some very positive implications for EB-5.

This resolution will allow funding for the EB-5 Regional Center Program to continue through at least that date. This is very good news for people interested in the EB-5 program as the program is currently set to expire on September 30th.

While recent extensions of the EB-5 Regional Center Program have been only one year due to Congress’ intent to reform the program, we believe that a longer extension of the program is likely after the midterm elections in November.

We believe there is a good chance that by the end of 2018, Congress will finally provide productive reform to the EB-5 Program. This reform is expected to include a longer term extension, a reasonable increase in minimum investment standards, grandfathering of existing TEA rules to ensure the system doesn’t see undue change and shifts in the program to allow 10,000 investors and their family members to immigrate via EB-5 each year (up from around 3,000 investors in recent years).

We expect that the extension legislation will pass through both the House and Senate relatively smoothly, and do not foresee any hesitation from President Trump to sign the extension.

If you have any questions regarding the EB-5 program, don’t hesitate to reach out to attorney Mark Ivener.

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