As we approach the end of September, the direction of the highly anticipated September 30th policy changes for U.S. investment immigration remains uncertain. Although the 2016 fiscal year is nearing its end, given the complex backdrop of the unclear U.S. presidential election results and the ongoing controversy surrounding the new EB-5 draft bill, the industry generally agrees that the EB-5 program may be temporarily extended until December 9th.
Many industry insiders speculate that this year's EB-5 reform may face a short-term extension just like last year, primarily due to the following two reasons:
First, a review of the various versions of the EB-5 reform draft bills shows that increasing the minimum investment amount and redefining the Targeted Employment Area (TEA) have become industry consensus. However, the specific methodology for TEA designation and the feasibility of retroactive clauses are still subject to intense debate. Additionally, urban proponents advocate for expanding visa quotas, while rural proponents firmly oppose this. With only about a week left, Congress does not have enough time to quickly produce a unified plan.
Second, the U.S. presidential election is still in full swing, and who will be elected between Donald Trump and Hillary Clinton will depend on the final election results on November 8th. Perhaps the EB-5 reform can only be truly implemented once the new Congress and the new President are officially established.
Worldway Immigration experts remind investors: This EB-5 reform is fundamentally different from last year's; overall, reform of the EB-5 program is inevitable. A short-term 3-month extension provides a final window of opportunity for investors to immigrate to the U.S. through a $500,000 investment. However, according to the new EB-5 draft bill released on September 9th, many EB-5 projects in the market may face the possibility of a $700,000 supplement or even project cancellation. Projects with a full set of I-526 exemplar documents already approved by the USCIS may enjoy an exemption under the "grandfather clause" and still immigrate to the U.S. with a $500,000 investment.
The Worldway DLJ Four Seasons Hotel Resort project (a project where investors have successfully obtained approval and repayment is provided by a large real estate fund), whose full set of I-526 exemplar documents has been successfully approved by the USCIS, can enjoy the exemption, is unaffected by the new draft bill and future price increases, and boasts excellent quality in terms of job creation and repayment. For details, please call: 400-138-2929
