EB-5 Regional Center Program Extension Expected Today
The EB-5 regional center program is set to expire today. But the program will get a temporary reprieve through December 11 if, as expected, Congress passes a Continuing Resolution today to fund the government through that date. Read our Client Alert for the latest. While the extension is good news, be prepared for change on the EB-5 legislative front. We expect Congress to press for broad-sweeping reforms of the EB-5 program. My prediction is more regulation by USCIS, higher fees for regional centers to combat fraud, a crack-down on so-called gerrymandering or tailoring of targeted employment areas, an increase in investment amounts and more interagency cooperation.
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