For long time followers of the EB-5 program, this is getting a bit tired. For the past 4 years, the US congress has been just extending the EB-5 regional center pilot program for a short span of 6 months on average, setting up yet another episode of, will they, won’t they extend the program. This time around also, would be investors are left wondering whether the program will get another extension. Industry veterans say that it won’t be any different this time around, the program might get another short extension, instead of a long term extension with much needed improvements to the program. Of course this time around, there is also the November 21st date: which is the investment amount increase deadline.
The program is seeing renewed interest from Indian investors, even though there is an almost 8.5 year wait for the green card for Indians. For countries without any waiting times like South Africa, South Korea and even Germany, we are now seeing investments coming into the program in bigger numbers, taking advantage of the $500,000 investment before it jumps to $900,000. Investors should ensure that they are investing in a future proof TEA project, so that their investment is protected from the upcoming November 21 changes to the TEA criteria. Read my article on Medium for a more detailed explanation.
Despite the occasional EB-5 fraud stories we hear about prominently in the news, the overwhelming positive effects of the EB-5 program, ($16.54 Billion in EB-5 investments flowed into US economy and creation of 276,000+ jobs during FY 2010 to 2015*), is a clear indicator that the program is here to stay.
Check back here for updates on new developments in congress.
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