EB-5 regional center program $500,000 investment?

[aditya_kumar]

My understanding is that EB-5 regional center program (which permits a $500,000 investment in an approved regional center) ends in September.

Does anyone know if this program will be renewed? If there is a delay beyond September, does anyone know what would happen to an I-526 that is filed before September but not yet approved before the program end date?

[techguyoc]

"CIS will attempt to complete the cases before the sunset. They will start to issue warnings about 90 days ahead of time that it’s expiring and urging people not to file. They will do all they can to complete the applications before the sunset date, but any that are left can be denied. If it appears at the time that there is a chance it will be renewed, they will suspend the processing until the bill is passed. If it’s not passed or it appears that it’s not going to be passed, any pending applications will be denied.

Sunsetting happened a few years ago with religious workers. It was renewed a couple of months after expiration.

I don’t know about the likelihood of extension. "

I have a number of friends and family members who have made millions in investments who will be seriously hurt if the EB-5 program is not extended. Some of my cases are in the 526 pending stage, some are at the 485 stage, and a number have not filed their 526 yet. From my congressional liaisons response I assume that those in the 485 stage will be processed before the end date, but those who have pending but not approved 526s may be out of luck.

I don't know about you, but I intend to be contacting my Senators and Representatives to encourage them to extend the EB5 program. A bill has been introdueced in the House (HR 5569) which is still in committee. I don't think a bill has been introduced in the Senate yet, but I believe Senator Leahy has tried to introduce one.