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EB-5 Regional Center Program Extended through June 30, 2021December 27, 2020

The President has signed the Consolidated Appropriations Act, 2021, which extends the EB-5 Regional Center Program through June 30, 2021.  This marks a rare time in recent years, when the expiration of the EB-5 Regional Center Program will not align with the expiration of Federal funding.  The extension will however, allow incoming President Biden, and the new Congress to take office and address the reauthorization and integrity reforms of the EB-5 Regional Center Program.

There have been significant conversations, including a bipartisan supported bill, the EB-5 Reform and Integrity Act of 2020, introduced by Senators Grassley and Leahy, regarding improved integrity measures and a long-term extension, which is expected to be introduced in the beginning of the next congressional session.

The six-month extension allows a prospective EB-5 investor the necessary time to perform due diligence and make an informed decision on which regional center and EB-5 project is best for them and their family to invest into.  However, this period of time will move quickly, and there is no guarantee that Congress will reauthorize or amend the EB-5 Regional Center program by the expiration date, especially since the current expiration of the EB-5 Regional Center Program is no longer tied to the other federal funding programs.

CMB will continue to monitor this extension, work with both sides of the aisle to encourage and support the efforts to achieve the reauthorization and integrity reform, and work with our prospects to assist them in their EB-5 pursuits.

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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.

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