September 30, 2021.
The U.S. Congress passed a continuing resolution backing the government’s existing appropriations until the 3rd of December, 2021. Unfortunately, this continuing resolution does not include a reauthorization of the EB-5 Regional Center program, which has not been reauthorized since June 30.
Actions on I-426 and I-526 petitions will continue to be deferred pending reauthorisation of the EB-5 RC program.
Among senior EB-5 stakeholders, the belief is that the program will be reauthorised in early December, potentially at $500,000, or with an increase to the minimum investment amount with other additional reform.
So, what happens now?
As the president signs the continuing resolution and avoids a shutdown, the EB-5 industry has shifted focus to December 3rd with a bill that has already found industry consensus. This consensus bill would reauthorize the program for an extended period, establish new investment levels and rules for reduced investments, while providing improved integrity measures for the industry.
Residency First will continue to do all it can to represent the interests of existing investors as well the many new ones waiting anxiously to begin their application. We will continue to closely monitor the situation and report back anything new. We have little doubt the EB-5 RC program will be reauthorised.
If you would like further information, please contact me by email or WhatsApp:
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