[dropcap]In[/dropcap] two months, on September 30, the EB-5 Regional Center Program is set to expire. Despite the fast approaching EB-5 sunset date, here’s why you shouldn’t worry. Every few months the EB-5 Regional Center Program comes up for renewal and it’s always passed without reform. This is because it’s a small program, and although it has a lot of issues, it’s not a priority like other matters going through Congress.
U.S. Senator, Chuck Grassley, is one of the EB-5 Program’s biggest critics, often complaining about the program’s fraud. Even with Grassley’s consistent criticism, the program has not been dismantled, let alone reformed, and under the current President, it is unlikely to be scrapped this time around either.
The EB-5 Program fits squarely into President Trump’s agenda of “Hire American.” The EB-5 Program works by allowing wealthy foreign nationals to invest $500,000 into a job-creating new commercial enterprise in exchange for U.S. green cards. The EB-5 Program boosts the economy by adding new investment capital and creating new jobs for U.S. workers, all at no cost to the U.S. taxpayer. The EB-5 Program attracts immigrants that Trump would want in the U.S.A. Immigrants who invest in U.S. businesses and create jobs instead of taking jobs away from U.S. workers.
Additionally, Trump’s son-in-law, Jared Kushner’s family business are believed to have utilized EB-5 investment in their real estate deals.
There is a chance that the EB-5 Regional Center Program will see changes in the minimum investment amount. Investing in a targeted employment area project could go up from $500,000 to $1.35 million. The direct program could also see a raise from $1 million to $1.8 million. The minimum investment amounts have not been raised since the program began 28 years ago. These new investment amounts would account for the inflation that would have occurred over the years. President Trump may get behind this change because it would make the U.S. visa program appear more selective.
Therefore, although the program will likely pass, it may face increased minimum investment amounts. Applying early can lock in the lower investment amount.
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