A proposed bill was recently released by Senator Patrick Leahy (D-VT) requesting renewal and changes to the EB-5 Visa Program. While the nearly 80-page bill covers a variety of topics regarding the EB-5 investment, the main changes relate to the investment amount itself.
EB-5 projects located in Targeted Employment Areas (TEAs) and Regional Centers would increase to $800,000. Direct EB-5 investments not located in a TEA would increase to $1,200,000.
Other changes to the program include variations to counting indirect job and changes to the TEA designation process.
The EB-5 Visa Program is due to sunset in September, and will likely be renewed with these proposed modifications. If potential EB-5 investors wish to take advantage of the current reduced EB-5 investment of $500,000, they should contact an EB-5 immigration attorney immediately to begin the EB-5 visa process. Petitions will need to be submitted before September 30, 2015, or investors may face the increased investment of $800,000 for TEA investments and $1,200,000 for non-TEA EB-5 investments.
Contact EB-5 immigration attorney Kyle Barella to receive a free EB-5 consultation from Barella Law, P.C. Our EB-5 lawyers and professionals can assist potential EB-5 investors throughout the entire investment process. We are conveniently located in Northern VA, just outside of Washington, DC.
Kyle Barella | email@example.com | +1 202.621.3198 | www.eb5investmentlaw.com
Kyle Barella, Esq.