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EB-5 Regional Center Program Likely Extended 1 Week As Senate Passes Continuing Resolution

Clare LithgowBy 1328 views
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eb-5 regional center program extended

The Senate has passed a one-week continuing resolution to fund the U.S. government and reauthorize several programs including EB-5 Regional Center Program through December 18th, 2020. This delays a government shutdown and gives Congress one extra week to negotiate funding and legislation for 2021. The Continuing Resolution will need to be signed by midnight tonight by President Trump before going into effect.

The EB-5 Program is comprised of the Direct Investment Program, a permanent program, and the Regional Center Program, a program that has thus far, needed continuous reauthorization by the U.S. government. Reauthorization of this program has been added to government funding bills and faced short-term extensions for years.

EB-5 allows foreign nationals to apply for U.S. green cards if they make qualifying substantial capital investments in  job-creating U.S. businesses. The minimum investment amount for projects located in rural or high unemployment areas (also called targeted employment areas or “TEA” for short), is $900,000. The minimum investment amount for projects located in non-TEAs is $1,800,000. 

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