After an almost nine-month lapse that left the entire EB-5 community of investors and industry stakeholders in limbo, lawmakers are breathing new life again into the EB-5 Regional Center program. The deal to renew the program was included in the $1.5 Trillion Omnibus Package that was passed by the House and will now go to the Senate.
The bill will reauthorize the EB-5 Regional Center Program for five years, through September 30, 2027. The bill contains EB-5 policy changes in the investment amount, modifications to TEA qualification rules, more regional center compliance requirements, and other changes that affect EB-5 investors and project sponsors.
According to CLG’s Roy Carrasquillo, “Investors with pending applications should see their process finally continue. This should ease a lot of the anguish that this lapse has created for so many families around the world with pending EB-5 applications. In addition, this re-authorization should provide confidence to potential investors around the world about the EB-5 Program and hopefully allow much needed capital to flow into various projects in the United States and help with job creation and economic development.”
Roy believes that «the new bill can help bring much needed stability to the industry.»
To learn more about the reauthorization, please click https://bit.ly/EB5Investors-CLG to read the full article. To get in touch with our team to learn more about the EB-5 program overall, visit our website: https://carrasquillolaw.com/contact-us/.