2020 Deadline Approaches for Congress to Extend or Renew the EB-5 Regional Center programSeptember 8, 2020
The end of the 2020 Fiscal Year on September 30th brings with it a deadline for Congress to extend or renew the EB-5 Regional Center program. Additionally, as CMB reported in July, there is an increase in the fees for a large number of applications filed with the USCIS CMB NEWS Update-on-eb-5-filing-fees beginning October 2, 2020.
For the EB-5 program to continue uninterrupted, it requires Congress to pass budget legislation, including a possible continuing resolution, to extend government services. There are only eight legislative days remaining when both chambers of the United States Congress (Senate and House of Representatives) are in session before the conclusion of the 2020 Fiscal Year on September 30th. Although both parties have indicated a deal is in the works, nothing has been introduced in either chamber of Congress. In order for a deal to be passed, it must pass both chambers and get the President’s approval. It is therefore, unknown at this time whether the EB-5 program will continue uninterrupted beyond the September 30th deadline.
For prospective participants interested in the EB-5 program, it is important to understand there is little time remaining until September 30th when the EB-5 program possibly sunsets and an assured increase in fees.
About CMB Regional Centers
CMB is one of the oldest active regional center operators in the EB-5 industry with 23 years of experience. CMB has over 5,700 investor families from 102 countries that have chosen to invest in one of CMB’s 75 EB-5 investment opportunities. As of today, CMB has helped over 1,300 families achieve I-829 petition approval to live and work permanently in the United States and has returned capital to over 1,300 investors. There are very few regional centers that can come close to this level of success for their EB-5 investors.
CMB engages Prevail Capital, LLC, a broker-dealer registered with the SEC and a member of FINRA and SIPC, to be the administrative placement agent for all CMB EB-5 partnerships. If you would like to learn more about the EB-5 Investor Visa Program, please contact CMB Regional Centers.
CMB Regional Centers