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EB-5 REGIONAL CENTER EXTENSION, INVESTORS INSISTENT CONGRESS TO REAUTHORIZE
There have been many updates in the recent past on the EB-5 Regional Center Program that remains from the period of lapse since 30th June 2021, demanding Congressional authorization via legislation. The legislation is required so that the following will benefit the investors and their applications:
- The new I-526 Petition can be filed by the investor / applicant with United States Citizenship and Immigration Services (USCIS)
- United States Citizenship and Immigration Services (USCIS) can continue to process with the pending I-526 Petitions and I-485 Applications by present investors
- Also the State Department can issue immigrant visas to EB-5 investors waiting outside the United States to immigrate based on their approved Regional Center I-526 Petitions.
It is expected that Congress may pass another short-term continuing resolution on or before 18th February 2022, over 11th March 2022. It is not expected that an EB-5 delay legislation will be attached to the short-term ongoing resolution. It will be significant for Congress to take action on or before 11th March 2022 to reauthorize the Regional Center Program.
Investors who wish to reauthorize the EB-5 Regional Center Program should connection with their representatives for EB-5 Regional Center Program.
As stated in our previous updates we have been updated that Congressional Bill proposed Regional Center reauthorization and increased EB-5 investment amount among other key changes to happen anytime by this month end.
EB5 has reviewed a draft bill that may soon be introduced in congress that proposes a reauthorization of the regional center program and several other major changes to the EB-5 program.
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If passed, the minimum EB-5 investment amount would increase between $750,000 and $1,000,000 for Targeted Employment Area (TEA) areas and $850,000 for non-TEA areas for both regional center and direct EB-5 investments. We expect the amount to be increased from February 2022, if the bill is passed.
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Therefore, we urge prospective client to file their family application immediately before any change happens on the increase of amount under Regional center program and non-regional center programs with direct jobs.
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As of now, Direct EB-5 investments are very attractive for the applicants and its family members to lodge at $500,000 for TEA investments and $1 million in other areas.
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Most reviewers anticipate that either United States Immigration and Citizenship Services (USCIS) or Congress will seek to increase the minimum investment amount back to a higher number. In the meantime, Regional Center investors continue to hope for Congressional reauthorization of the Regional Center program.
EB-5 REGIONAL CENTER PROGRAM: As stated in our previous news article, the EB-5 Regional Center program was not extended by Congress by 30th June 2021. Congress did not pass a law to extend the EB-5 Regional Center program, so the Regional Center program has lapsed on this date.
The U.S. Congress has never made the Regional Center program permanent, and so it continued to be extended on a temporary basis every few months, most recently through was made on 30th June 2021. For more information: https://www.bilimoriaassociate.com/immigration-news-detail.php?rId=195
Bilimoria & Associate is specialised in Immigration visas with 26 YEARS experience in lodging successful EB-5 application towards obtaining Green card to USA. We have projects that have an exemplar approval from USCIS and also have approvals for applications to lodge with Targeted Employment Area (TEA).
We also have applications that have Petition approval for I-526 & I-829 Condition removal on approved projects.
Our expertise has undertaken over a billion dollars in projects, and have raised more than $300 Million in EB-5 investment and have completed almost 38 different projects in the last 10 years and have processed many EB-5 investor applications with 100% success rate.
Bilimoria & Associate liaisons with the Member of Oregon State Bar Association and Attorney in good standing, USA (OSB) and also liaisons with member of the American Immigration Lawyers Association (AILA) towards preparation of a successful application for EB-5 visa.
You can write to us to assess your eligibility at: neville@bilimoriaassociate.com (or) contact us +91 44 2822 7222 / 2823 9229 / 4350 8191 between Monday – Saturday, 10.30 am to 5.30 pm. You can also fix an appointment with our office to meet us in person to discuss your eligibility.