Senate unanimously passes 3 year reauthorization of the EB-5 Regional Center Program
On August 2nd, 2012, the US Senate unanimously voted for the reauthorization of the highly successful EB-5 Regional Center Program, and three other programs included in S.3245 – E-verify and the reauthorization of J-1 and Religious worker visas. (For a copy of S.3245, click here).
Although the bill as introduced proposed a permanent reauthorization of the program, the temporary renewal is seen with great enthusiasm by members of the EB-5 industry.
Congress has agreed in principle to a 3 year reauthorization of the EB-5 Regional Center Program. The House is in recess, and will be taking this matter via suspension of the rules (no floor debate) sometime in early September after the end of the recess.
IIUSA (The Association to Invest in the USA), a not-for-profit industry trade association of active EB-5 Regional Centers (“Regional Centers”), attorneys, financial advisers, economists, broker/dealers, consultants, and other EB-5 related service providers released a note to IIUSA’s members this morning that, with an enthusiastic tone, thanked members of the organization for their “continued grassroots efforts.” The note also asked IIUSA members to continue to contact their respective House Representatives while they were back in their local districts during the August recess to “express support for prompt action by the House when it reconvenes in September.” IIUSA estimates that since 2003, Regional Centers have invested well over $3.1 billion of foreign capital in the U.S. economy, creating well over 65,000 jobs for U.S. owrkers – all at no cost to the U.S. taxpayer.
The United States Citizenship and Immigration Services (USCIS) recently released statistics that show and exponential spike in applicaitons. During the 2011 fiscal year, USCIS received 3,805 applications for I-526. For 2012, USICS has already received 4,102 approvals, and the upward trend signals an increase in demand and interest for the EB-5 program.
The team at Exclusive Visas is excited about the opportunity to continue to work with families from all over de world in their quest to live the American Dream through the EB-5 Regional Center Pilot Program.
Exclusive Visas thoroughly researches Regional Center projects in the United States, and endorses only those projects that meet our rigorous standards. When you hire Exclusive Visas as your EB-5 Consultants, we hold your hand from the moment you begin considering which Regional Center program to invest in, until the day you receive your permanent green card. You will be assigned a personal concierge to liaise between you, your Immigration Attorney, and the Regional Center throughout the entire process.