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.
we found this to be a non starter for real estate could not hire enough folks to meet the thresholds. So we never got off the ground
@Jay Hinrichs we try to steer people away from these options actually. There are many ways to get around this issue and put them on a fast track to getting green cards.
The one thing that they would have to be patient about is time however. It usually takes about a year for an individual to be granted the assurance that they meet the requirements.
One route is to have someone come over on a B1/B2 with an extension. Then later have them apply for an L so long as they set up a corporate structure and have managerial experience with enough income to support themselves. Once this is established you can always go for the green card route.
An L visa also offers the opportunity for a 7 year stay.
A lot of people have already committed to the EB-5 route though and don't realize that they had other choices.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing