Washington’s divisive political climate has led to many uncertainties in the future of the EB-5 Immigrant Investor Visa Program. Last week, the House and Senate passed a continuing resolution that prevented a government shutdown and provided for the extension of the investor visa program until December 22, 2017. As announced on Twitter, President Trump signed the continuing resolution minutes after it hit the Oval Office desk.
With only a couple days until December 22 and no deal announced, the future of the EB-5 Immigrant Investor Visa Program is uncertain. To continue issuance of the investor visas, the Administration and Members of Congress must agree on whether to pass, yet another, temporary solution (such as a continue resolution), modify the program, or simply end it. The Administration has sent mixed messages about its support. In recent months, both the House and the Senate have discussed changes to the program, such as increasing the minimum investment amounts, increasing job creation requirements, compliance measures, fines, and application fees, as well as extending the duration of the required at-risk investment.
Investors, regional centers, project owners, and developers have expressed concerns about the uncertainty given Washington’s current divisive political climate. Questions about the future of pending regional center and direct investment petitions and immigrant visa applications, as well as EB-5 dependent development projects that are awaiting approvals or have already begun investor marketing, or, for that matter, actual project development with EB-5 invested funds remain unanswered.
Please check back throughout the week for updates on the reauthorization of the EB-5 Immigrant Investor Visa Program. To learn more about this post or any other immigration matter, feel free to contact me, Raymond G. Lahoud, at email@example.com.