According to the portal “ Invest” in the USA (IIUSA), referring to the US Congress, the press service, the US investment program (EB-5) was extended unchanged until 28.04.2017 year. Work on a package of amendments to the current legislation governing the funding and implementation of the immigration program the EB-5 will begin within the 115th Congress, which starts on January 3, 2017. Last week, the materials related to the discussed changes were referred to the special committee of Congress.
It should be noted that active discussions about the need to change some of the mechanisms and programs of redistribution of powers took place in the Community industry throughout 2016. Moreover, many experts and analysts predicted the adoption of such amendments in October 2016. However, the US presidential elections and their results made their adjustments in the process. Among the most significant amendments to the program included the following:
- Changing the date of priority conservation
- The increase in investment amounts
- Revise requirements for regions with low levels of employment
- Clarification of the requirements for regional centers to participate in the program
- Expanding the list of reasons for termination of the accreditation of the regional centers.
"The upcoming changes in the EB-5 program - a long overdue addition to increasing the amount of investment, the tightening of the requirements for regional centers and the expansion of the list of grounds for termination of their accreditation, significantly reduce the space for abuse and outright fraud on the part of the investment projects." - commented on the situation Denis Karasev, a leading expert on the EB-5 program in Russia. "When amendments come into force, our investors will pay more, however, the level of protection of these investments provided by new mechanisms, decreases the possibility of a negative effect." - He added.
US Government Immigration Program - EB5, adopted in 1990 by the Congress of the United States of America. The program provides an opportunity to obtain a residence permit - GREEN CARD, and eventually US citizenship through business investment projects approved by the US government. Control of the fulfillment of all the conditions and requirements of the program is performed by the US Citizenship and Immigration Service (USCIS).