EB-5 RC Extension

Congress extended the EB-5 Regional Center statute with the continuing resolution to September 30, 2017. The statute has been extended a few times in the past couple of years. I think Congress this summer will finally settle on a compromise bill and extend the statute for 3 to 5 years. Thus, I am telling investors that now is the time to invest at the current funding amounts.

EB-5 in the News

The EB-5 program has received considerable news coverage after the President’s son-in-law’s sister appeared at an EB-5 event in China seeking EB-5 funding for a real estate project.

USCIS Proposed Regulations

In January 2017, USCIS issued proposed regulations to increase the EB-5 investment amount in a TEA to $1,350,000 and in other areas to $1.8 million. The government allowed until April 11^thto file comments. About 500 comments were received. The USCIS person in charge of the regulation says she will finish her review of the comments by July 21^st. We will see whether Congress or USCIS acts first to raise the investment amount.

USCIS Mail Messages

USCIS sends receipts for I-526 applications to the attorney of record and the investor. Often, the mail to the investor abroad is not delivered and is returned. The USCIS website then contains a note that the last action is return of the undelivered mail. This often worries the investor. Even when I tell USCIS the investors’ postal address is correct, their online system does not change. This is common and should not worry the investor. I will receive notification from USCIS of any decision.