Major changes to the EB5 half a million dollar visa coming up this week.
Stay tuned.
I'll tell you more about it.
Hi everybody.
This is Jacob Sapochnick, Immigration Attorney based in San Diego, California.
In this video, I want to give a quick update about the EB5 green card program, also known
as the million dollar visa.
And there's been some major changes that happened this week.
So, as of September 28, there's been an extension filed for this program that was going to sunset
on September 30th.
And this extension carried us over through December 7th, 2018, which means this program
extended to December 7, 2018, which means that everything remains the same, including
the amount of money, 500,000 into a regional center and million dollar into a direct program,
and half a million dollars into an undeserved area where people invest in targeted unemployed
area projects.
So what does it mean for you?
It means that people that are doing EB5 visas, people that are interested to invest in these
programs [inaudible] the green cards are already concerned because there's been a lot of rumors
that the government is going to increase the amount of the EB5 from half a million to a
million, a billion and a half, a different amounts.
There'd be rumors that this program is going to be canceled altogether.
So, as of now, obviously this program has been extended through December 7th, 2018,
which means that people that are serious about doing this program…this investment that
are looking for regional centers that are doing their research, it is now the time to
do so because we don't know what's going to happen after the December 7th.
We hope they'll extend it into 2019, but we don't know.
If extended A1 form, is it going to be the same amount?
Are there going to be any restrictions on the EB5 regional centers?
We have no idea.
By way of introduction, EB5 is unique program that is created by the U.S.
Government allowing investors that are investing in regional centers, which are government
programs that are licensed by the government to, you know, build real estate or energy
projects and things like that to pull investors together and those investors, they invest
in those projects are eligible for a green cards because of their investment.
Typically, those investment is, is done in a way of a…of a loan because at the end
of the five year period, some of these investors, most of the investors are able to get their
money back.
Typically, the EB5 works this way where the investors are investing half a million dollar
into original center project.
They first get a green card for two years.
It's a conditional green card and after two years, they can remove the conditions of the
green card as long as they meet the [inaudible].
Some requirements and eventually they get a permanent green card.
The thing is that the current administration has been mentioning that they feel that the
amount of money invested into those projects is not high enough, and so the con, there's
been rumors that they wanted to decrease this amount.
And so every time the program is about to expire, we are concerned that our clients
are concerned there could be major changes.
But right now, the regional center, EB5 program still in effect.
It has been extended through December 7th and so, we do a lot of visa…visas for our
clients.
We're all over the world.
We encouraging you, those investors that are serious about it to do email us.
You can email me directly at jacob@h1b.biz.
We'll qualify you or we'll see if you meet the requirements.
And if so, you'll be able to go out and research your regional center and start their process
before the program will expire on December 7th.
So we just wanted to give you a quick update that the regional center EB5 program has been
extended through December 7th.
If you have an interest in the program, feel free to email me and we'll tell you more about
it, but we'll give you some information about some amazing projects that are out there.
And that's it.
So if you have questions, post them in the comments below and let me know what you doing
with this video and let us know also what other videos you would like us to make because
we are here for you.
Thanks for watching.
And we'll see you in our next video.