|EB-5 Regional Center Program Extended . . .
On September 30, 2008, President George Bush signed a continuing resolution which, among other things, extended the EB-5 Regional Center Pilot Program to March 6, 2009. In June of 2008, the House of Representatives had passed a bill reauthorizing the program through fiscal 2013.
Under this program, which was scheduled to sunset on September 30, 3,000 immigrant visas are allotted annually for individuals who invest $500,000 in designated regional centers. If the investor applies for status as an immigrant investor through this program, he or she may show that the investment enterprise will create directly or indirectly 10 or more jobs. The bill reauthorizing this program for an additional 5 years is currently being considered in the Senate.
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