Changes to EB-5 investor program coming soon.
I'm not sure if there are many EB-5 investors in this group, but I wanted to share some recent information that I received from our law firm. Our firm gets weekly updates on changes throughout the world regarding business immigration and we assume that this will have a major impact upon EB-5 candidates.
The bulletin says the following:
"A final regulation expected to make changes to the EB-5 immigrant investor program is now under review at the Office of Management and Budget, the last step in the regulatory process before the rule is published and implemented.
The Department of Homeland Security seeking to increase EB-5 investment thresholds and limit the types of development projects that qualify for the program. As originally proposed, the rule would increase the minimum standard EB-5 investment to$1.8 million and the minimum Targeted Employment Area (TEA) investment to $1.35 million. Current minimums are $1 million and $500,000.
The final rule will remain confidential until released for publication, which is expected to occur in the coming months. Until then, the EB-5 program will remain subject to current rules, including investment thresholds."
With all of this being said, I wouldn't anticipate these to be the only changes. If you're a potential EB-5 investor, try to get everything done now to avoid the stricter guidelines later.