EB-5 PROGRAM UPDATE

EB-5 PROGRAM EXTENDED WITHOUT CHANGES FOR TWO WEEKS
Washington D.C., Dec. 8, 2017 – The House and Senate passed a Continuing Resolution, H.J. Res. 123 on Thursday, December 7, 2017, that extends the federal budget and government agency functions until December 22, 2017. The Continuing Resolution was signed into law by the President on Friday, December 8, 2017. The Continuing Resolution keeps the U.S. Government open and operating, and also includes an extension of the EB-5 Regional Center Program without any substantive changes. Our law firm has received reports from Congress that Senate and House elected officials are negotiating various immigration-related bills, and that legislative action could be taken in January 2018. The proposed legislation on immigration issues include: A solution for young undocumented immigrants known as “Dreamers” who were given temporary status under President Obama; Changes to the H-1B skilled worker visa program that would increase the minimum salary paid to H-1B workers (current proposal put the salary at $90,000 or above), and Changes to the EB-5 Regional Center program, including extending the EB-5 Regional Center program for several years, while also raising the minimum required investment amount (the figure of approximately US$900,000 has been discussed) and redefining the system for determining high unemployment areas. I.A. Donoso & Associates will continue to monitor and report on legislative developments on Capitol Hill regarding the EB-5 Program and other immigration legislation. I.A. Donoso & Associates, LLC, is a law firm based in Washington, D.C., and is recognized as a leading immigration law firm with renowned expertise in the EB-5 program.