Published on July 2nd, 2019
By Mike Xenick and Dominick Mondesir
As you may be aware, imminent change to the EB-5 Program is likely coming. The U.S. Office of Information and Regulatory Affairs within the Office of Management and Budget has indicated on its website that its review of the new EB-5 regulation has concluded, and it has returned the regulation to the U.S. Citizenship and Immigration Service (“USCIS”) for action “consistent with change.” (See https://www.reginfo.gov/public/do/eoDetails?rrid=128858). Ultimately, among other key changes, minimum investment amounts are likely to substantially increase for prospective EB-5 investors.
We want to make you aware of this development as soon as possible, so that you can plan accordingly to diligently move to complete the investment and application process in time to invest at the minimum $500,000 threshold before the proposed rule changes become effective. If you would like more information, please contact us immediately, as once the new regulation is published, there will likely only be a thirty (30) day window to apply for an EB-5 green card at the current $500,000 amount.
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