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EB-5 Regional Center Program Safe Until at Least December 11th

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EB5-Visa December On September 30, 2015, Congress passed a bill temporarily funding the government through December 11, 2015 that included a provision to allow the EB-5 Regional Center Program to continue operating until a final resolution is passed, or until December 11, whichever comes first.

EB-5 Regional Center Program

The EB-5 Regional Center Program was first enacted in 1992, with regular renewals up to the present. Under the Program, investors can apply for permanent residency (i.e. a green card) in the U.S. if they:

1) Make an investment of $1,000,000 (sometimes $500,000 depending on the location of investment), in a U.S. based commercial enterprise, and

2) Plan to create at least 10 permanent, full-time jobs for U.S. workers. As opposed to the standard EB-5 Investment Program, in which investors can create their own commercial enterprise, the Regional Center Program allows investors to invest their funds in opportunities (i.e. Regional Centers) approved by the U.S. Citizenship and Immigration Services (“USCIS”) based on proposals promoting economic growth in the U.S. Currently, there are 732 USCIS-approved Regional Centers for EB-5 investors to choose from.

Many investors choose the EB-5 Regional Center Program over creating their own commercial enterprise, as the economic forecasts and job creation documentation are prepared by the Regional Center rather than the foreigner having to do all the work. Therefore, the responsibility for the investor is limited  to evidencing his/her investment. Additionally, Regional Centers provide assistance to the EB-5 investor throughout the process, which, in conjunction with a knowledgeable immigration attorney, can simplify and streamline the process for the investor.

Those interested in filing EB-5 petitions under the Regional Center Program should act fast to apply before December 11, 2015. Although another extension of the Program is expected, it is always possible that it will include modifications, such as increased investment thresholds, or be discontinued.

Questions on the EB-5 process or interested in applying? GoffWilson is here to help! Contact our office today for assistance. Immigration is all we do!

Filed under:EB-5