EB-5 program renewed until December 11, 2020.
1st October 2020, Washington D.C. The US Congress approved budget legislation (Continuing Resolution CR) that funds the operations of the federal government until December 11, 2020. The CR also passed an extension of the EB-5 Regional Center program until December 11, 2020. This ensures that the EB-5 Regional Center program continues attracting foreign investment and creating jobs in the U.S.
We expect that Congress will revisit the CR, and another extension of the EB-5 Regional Center program, shortly after the election during the so-called “Lame Duck” session of Congress that occurs between an election and the date when the new Congress begins. – Donoso Law
EB-5 annual country allocation almost doubles.
Countries such as China, Vietnam and India exceed their annual allocation pushing applicants into a wait-list situation. Such constraints have plagued the EB-5 program for a number years. The news that the limit has been increased by such a high amount breathes new life into the program and will come as an enormous relief to those families caught up in wait list delays, aka retrogression, and the impact such delays inevitably have on their children’s education.