Waiting until the last minute to do so, Congress reauthorized the use of EB-5 regional centers for investors seeking to immigrate to the United States until September 30, 2015. To qualify, a foreign national investor must invest $500,000 or $1 million into a qualified regional center to obtain permanent residency (along with meeting other procedural requirements).
The Regional Center program is not yet a permanent part of the immigration code. Instead, every two or three years Congress must renew the program. As is to be expected, Congressional members almost universally vote to extend the program and then emphasis their support for extending a program that helps to create thousands of U.S. worker positions.
Hopefully one day the EB-5 Regional Center Program will become a permanent part of the EB-5 investor visa process. Until then, we at least know that the program has been extended until September 30, 2015.
To learn more about the EB-5 visa, please contact the firm.