On August 2, 2012, the Senate agreed to a three-year extension of the EB-5 investor visa pilot program, which was scheduled to sunset at the end of September of this year. “The scope and duration of the extension have already been agreed to by the leadership in the House,” commented my colleague Bill Stenger, CEO of Jay Peak. The news of an upcoming extension is a promising development for EB-5 investors and for the American economy. But we need to make the program permanent. The EB-5 investor pilot program brings millions of dollars to the United States. Each $500,000 investment by an immigrant investor through the EB-5 program also puts 10 Americans back to work. The profile of EB-5 investors is diverse and includes individuals such as high-tech entrepreneurs, doctors, dentists and retired individuals.
Mintz Levin will continue to monitor developments on this front.