I know most of our Vietnamese friends and AVS family members are too immersed in pre-Tet planning to be intently following the zany developments of Washington this week, so I’m writing this short entry to update you:
The Congress and the President have signed a two year budget agreement for U.S. government Fiscal Year 2018 (Oct. 1, 2017 – Sept. 30, 2018) and FY 2019). A bunch of folks are writing online that that the means EB-5 has been extended for two years. NOT CORRECT! The budget agreement was part of the deal when they passed the short-term continuing resolution (CR) to keep the government operating until March 23, 2018 only.
Remember two critical forthcoming events:
I- The pending EB-5 Regulations which are expected to make a number of operational changes to the category, most notably the increase of the TEA-level EB-5 investment threshold from the current $500,000USD to $1,350,000USD, are supposed to be implemented in the next two months and;
II- The State Department has predicted that Vietnam will use up its FY 2018 number of EB-5 visas by April of 2018.
Do the math if you are still undecided on EB-5, Vietnam…you have a window of opportunity which is changing dramatically in the next few months and I encourage you to move forward with your EB-5 plans as soon as possible.
Jose
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