Congress has reauthorized the EB-5 Regional Center Program for another five years, ending a nine-month long lapse. The approval comes after the US Senate approved the omnibus bill Thursday following the action of the US House of Representatives approving the EB-5 reauthorization and reform Wednesday. The move brought a sigh of relief to all stakeholders involved in the program who now predict a bright path for immigrant investors in the United States.
Lawmakers agreed to make the 40-pages long EB-5 Reform and Integrity Act of 2022 a part of the $1.5 trillion Omnibus Package bill that was passed. President Biden is now anticipated to sign the bill into law.
The key change in the EB-5 policy is the increase in the investment amount requirement; foreign investors will now have to put in at least a million dollars to qualify under the program, or $800,000 if the investment is made in a designated high unemployment area. The previous minimum investment requirement was $500,000.
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