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December 23 2014

Good Fortune for the New Year

At this time of year we take a stock of our own good fortune and think about the New Year.

Soon the effort by the EB-5 community will be in full swing for extension of the Regional Center statute, which is set to expire on September 30, 2015.

In the past few extensions, the EB-5 bill was bundled with three other immigration statute extensions for rural doctors, E-Verify (for companies to electronically verify the legal work status of prospective employees), and religious workers.

Senator Grassley (Republican – Idaho) will be chair of the Senate Judiciary Committee.  He is hostile to all immigration.  It will be important for everyone to meet with their Congressional Representatives and Senators to describe their projects, the jobs they are creating, and to advocate for extension of the Regional Center statute.

Some change seems to be in the offing.  There will be advocates for an increase in the minimum EB-5 investment amount.  Others will lobby to stop counting dependents against the 10,000 investor visa quota.

Regardless of the outcome, this will be a very important year for the EB-5 program.