On December 15, 2015, Congress extended the current EB5 Regional Visa Program. None of the expected changes were enacted. Two days after the extension of the program Senators, Flake, Cornyn and Schumer, introduced bill S.2415, known as the EB-5 Integrity Act of 2015. This bill aims towards a permanent reauthorization of the EB5 investor program and proffered changes in job requirements, business plan pre-approval, EB5 integrity fund, reporting, to name a few.
All approved EB-5 Regional Centers with a designation letter dated on or before September 30, 2015, must file Form I-924A, for fiscal year 2015 no later than December 29, 2015.
There is no filing fee for Form I-924A.
Regional Centers are required to submit Form I-924A every year to demonstrate continued eligibility for the regional center designation. 8 CFR 204.6 (m)(6).
As a reminder Regional Centers may be terminated for:
- Failure to provide USCIS with required information (which includes failing to file the required annual Form I- ...
Historically, the EB5 Visa Investor Program has not been a popular immigration path to US. However, within the last several years, interest in the program has increased dramatically. In fact, 2014 was the first year since the program began in 1991 that USCIS issued all 10,000 EB5 visas that it was permitted to issue in a year. Specialists in the field are predicting that this cap will be reached again in 2015, thus increasing the likelihood that this visa program will begin to experience a backlog.
The main reasons for increased attraction to EB5 are changes to the world’s...