The U.S. Congress passed a $1.3 trillion spending bill early Friday morning that, among much else, will extend for another six months (until September 30, 2018) the controversial EB-5 immigration visa program, which gives wealthy foreigners apath to U.S. citizenship in exchange for a minimum investment of $500,000 in a job-creating project.
The proposed EB-5 ReformAct would be a death knell for developers and industry players. It would have extended the EB-5 visa program for five years, but it would have raised the minimum investment amount to $925,000 and $1.025 million, up from $500,000 to $1
million. The six-months extension does not introduce any new requirements into the EB-5 Program.
This will give lawmakers and the Department of Homeland Security additional time to make substantive changes to the program. For more information about EB-5 or projects available in Miami & Florida
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