On Friday September 8th, President Trump signed H.R. 601 that will provide funding for the U.S. government and extend the EB-5 Regional Center Program until December 8th without changes to the minimum investment amount of $500,000.
However, a program extension to December 8, 2017 doesn’t mean that EB-5 has to remain unchanged until December 8. The U.S. Congress could come up with legislation before December that affects overall immigration rules and policies including as to EB-5.
Further, the Office of Information and Regulatory Affairs (OIRA) within the White House’s Office of Management and Budget (OMB) updated the EB-5 Immigrant Investor Program Modernization regulations page. The Final Action date was updated to 04/00/2018. While that date is not binding, and implementation of any regulations could move faster or slower, it is another reminder that the regulatory clock continues to tick as legislative negotiations are underway. Source: iiusa.org
Thus, investor applicants from India and elsewhere that couldn’t get their funds arranged or make a decision in time for the September 30 deadline now have some additional time to move forward at the current $500,000 minimum investment level. An EB-5 investor should bear in mind that selecting an EB-5 regional center project and documenting source of funds in preparation for an I-526 application can take about 60-days so it’s always a good idea to get started at the earliest.
DISCLAIMER
The information within this post represents my opinions only. This information does not reflect the opinions and/or policies of NMS Capital Advisors, its affiliates or any other firm I am contractually employed.
Contact:
Vivek Tandon, Managing Director
India & Middle East EB-5 Private Client Group
NMS Capital
433 North Camden Drive
4th Floor, Beverly Hills, CA 90210
Telephone: (800) 716-2080
Mobile: (310) 617-9128
Email: vivek.tandon@nmscapital.com
Website: www.nmsadvisors.com