Latest EB-5 News
There is a lot of EB-5 news of late. Canada closed its investor immigration program, USCIS held an interesting stakeholder call, and more news is breaking today.
Department of State Projections Change
The Department of State (DOS) now says that the China EB-5 quota may not be exhausted this fiscal year. If USCIS continues to decide cases at the same rate (they have some 7,000 backlogged – many on hold while projects dispute whether tenants will create jobs), the demand for visa numbers will not be as great as the DOS previously predicted. The DOS had thought that possibly in July the EB-5 visa list would backlog.
New EB-5 Bill to be Introduced
Tomorrow Representative Jared Polis (D-CO) will introduce a new EB-5 amendment in the House of Representatives. I will review the bill and report on it next week.
Bar Association Meeting
I am attending the L.A. Bar Association meeting Saturday, where I will be speaking on EB-5 visas. I will let you know what I learn there.