Immigrant Investor Visa And Regional Center Program Comprehensive Reform Act

The EB-5 program was created by Congress in 1990 to stimulate the U.S. economy through job creation and investment by foreign nationals seeking to secure U.S. visas. Reforms to the EB-5 Regional Center Program (not the Direct EB-5 Program) were to be included in the Congressional Omnibus Package, but instead were objected to by a faction of Democratic senators representing large urban areas where Regional Centers would lose visas under the proposed reforms. Instead, the EB-5 Regional Center Program was extended to September 30, 2018, without further change.

Given that this is the fifth time that efforts to reform the EB-5 Regional Center program have failed, however, Sen. Charles Grassley has publicly stated that he will now spearhead establishment of a coalition to terminate the Regional Center Program legislation. Thus, it is vital that foreign investors planning to apply for EB-5 under the current legislation take immediate action to take advantage of