EB-5 Extended…Again
In a decision surprising no one, Congress has extended the EB-5 visa program until April 28. But don't count on Congress continuing to extend the immigration platform that exchanges permanent US residency for a minimum of a $500k investment in a high unemployment community—a change in the executive office could spark reform or complete overhaul of the program come spring. Sen. Patrick Leahy (D-VT) maintains that EB-5 has been abused and calls for an ending, not extension, of the program if it cannot be reformed due to a “paralysis of leadership,” he said in a statement after the extension decision Monday. President-elect Donald Trump’s stance on EB-5 is still a bit of a mystery, but many investors think EB-5 could thrive under Trump as he comes from the real estate world (which largely supports EB-5).
