Published on 12/22/2015
Hello, I’m Vaughan de Kirby. And as I speak today, it is 12/17/2015. The reason I gave you the date is it’s a very important date regarding EB-5. We have learned that Congress, in the omnibus bill, is going to allow the existing program of EB-5 to continue until 9/30/2016. 9/30/16 is an important date. That means, theoretically, the same program that we’ve had for many years now, will continue until that date. The reason that Congress did this is they realized, in order to correct what they saw, where the deficiencies in the program, it was going to take more time than they have, so they put it off for approximately 9 months.
There’s a couple of important messages here, and I wanted to give you the date, but this information will pertain for the next 9 months. And that is you need to understand that if you’re a migration agent, or if you’re an individual that’s interested in the concept of EB-5 and possibly obtaining a Green Card for yourself and your family, you need to know that although that the program is set to continue until 9/30/16, it is very possible that USCIS on its own can raise the investment amount. The director has made it very clear that it’s within the power of USCIS to make that change. In the industry, and in the justice department and USCIS, they believe the $500,000 investment that we have today is really too low for the regional center. And they were proposing to raise it to $800, 000.
So, No.1, the good news, EB-5 is going to continue. We believe we have until 9/30/16. However, if this is something that’s important to you, don’t put it off, because we honestly don’t know when USCIS may choose to step in and raise the investment amount. I hope this information is of value to you. I think it’s important.
If you have any questions regarding EB-5, please feel free to contact us or call 415-221-2345.