Latest Reforms to EB-5 Program Are Nearly Complete
Reforms to the EB-5 visa program will increase oversight as well as increase costs to investors.
December 10, 2015 at 11:00 AM
6 minute read
Congressional leaders are nearly done with the latest reforms to the EB-5 immigration program that creates jobs by leveraging foreign interest in becoming a U.S. Citizen.
But whether they will meet the program's legislative reauthorization deadline Friday, or will continue the resolution to next week, awaits to be seen. Rumors that the deadline would be extended to next week filtered through a EB-5 conference Tuesday in Miami, but there was still a chance by deadline Thursday that it would pass.
The revisions will raise the lowest investment amount by $300,000, add thousands in fees and change oversight and transparency requirements. It will strengthen the job creation requirements and make it more difficult for projects to qualify for a coveted Targeted Employment Area designation, which lowers the amount required from investors to participate.
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