The EB-5 Regional Center (but not self) investor law expires on September 30, 2012. Extension is, however, expected. The law was first enacted in 1993 and has been extended many times.
At Congressional hearings when this law was last extended, no one spoke against it. It is one thing Democrats and Republicans can agree upon.
When the law was last extended, it happened just before expiration. USCIS expedited the cases and the Consuls quickly issued the EB-5 visas – some in a matter of days. Even if the statute is not extended, it appears that USCIS will continue to process I-829 Removal of Conditional Resident Status applications, but USCIS has never explained its policy, if the statute were to expire.
The Association to Invest In the USA (IIUSA), the EB-5 Regional Center trade association, is starting to lobby Congress for extension of the statute, which as I said, is expected to be extended but historically has not been extended until the last minute before expiration.
The EB-5 statute is creating thousands of jobs and funding many projects. Thus, it is expected the law will be extended.
Martin Lawler
No comments:
Post a Comment