The EB-5 Regional Center Program Has Been Extended
The congressional appropriations bill passed last month included an extension of the EB-5 Regional Center program through September 30, 2019. We expect that the program will be extended in the future as well.
This change will not affect applications from investors who are looking to create their own business.
Immigration Options for Indian Nationals
Many Indian citizens who are reviewing their potential immigration options have questions about their fastest path to immigration.
At present, EB-5 is a faster option than EB-2, even for potential investors who have an EB-2 priority date. The wait time to immigrate is about 16 years from the EB-2 filing date and an EB-2 petition must have been filed before April 6, 2009 to receive a visa number. Guidance from the Department of State is that the India EB-2 category will only advance up to one week per month.
The EB-5 India quota will regress at some point this year, likely in June or July, but this still won’t cause it to fall behind EB-2 in terms of time to immigrate. Unless an investor has a priority date in 2009 or 2010, the EB-5 quota will advance more quickly. This could switch if there are legislative changes, but these are uncertain.
If you are interested in pursuing a US Green Card through the EB-5 program, we strongly advise the employment of an experienced immigration lawyer to guide you through the EB-5 regulatory environment. Mark Ivener has practiced immigration law for over 45 years, the last 20 years guiding investors through the EB-5 process.