Just due to "sunset date" - the end of the EB-5 investment program indirectly through the regional center on September 30. On October 1, US President Donald Trump signed to extend the program for another 10 weeks, extending through December 11, 2020. Besides, there are some notable news about the EB-5 program.
Renew the EB-5 regional center program
Previously, the resolution Continuing Resolution ("CR") was passed to the US House of Representatives and the US Parliament, the step of the President signing the confirmation will complete the process and officially take effect. The CR is a resolution that provides funding to the federal government and authorizes a number of government programs, including the EB-5 regional center program.
The extension of the EB-5 regional center program for another 10 weeks is a move to maintain stable operations while waiting for the results of the US presidential election. As a settlement program to create jobs for the American people, EB-5 is considered to continue to be an effective tool to help the US economic growth and recovery in the current difficult time due to COVID-19.
The 2021 US EB employment visa quota
This year's EB visa limit is 261,500, up 87% from the annual limit (140,000) and is the “all-time high” as shown in the October visa bulletin.
Total EB-5 visas for FY 2021
The total number of EB-5 visas for FY2021 will be around 18,500. Of these, 8,626 visas were transferred from the FY2020 family of unused family sponsorship, accounting for 7.1% plus the annual number.
Update status of EB-5 visa issuance to Vietnam in FY2020
Above is the latest news that Resident Global has compiled. Any questions, investors please contact Resident Global for the fastest answer.