U.S. Congress Reauthorizes EB-5 Program until December 11, 2015

On September 30, 2015, the U.S. Congress passed a “clean reauthorization” (time period extended, but no other changes) of the EB-5 Pilot Program through December 11, 2015. President Barack Obama signed the bill the same day. There had been considerable concern among investors in the months leading up to the October 1 reauthorization that the U.S. Congress would adopt proposals raising the minimum EB-5 investment amount to $800,000 when it reauthorized the program. Instead, the Congress decided to “kick the can down the road” to give it time to more carefully evaluate the various reform proposals sponsored in the Congress for updating the EB-5 immigrant Investor Program. This does not mean, however, that the minimum investment will stay at $500,000 until December 11, 2015. Congress could take up EB-5 at any time between now and December 11 and pass a bill that raises the minimum investment amount to $800,000, and likely add additional reforms as well. So don’t get complacent investors! The $500,000 is a bargain for intending immigrants, and almost everyone expects that amount to go up, so if you’re interested in the EB-5 program, the time to act is now.