FAST TRACK TO US GREEN CARDS - Assisting families around the world to become permanent residents of the United States.
The visa program will now run through Dec. 7
(By Patrick Mulholland) The EB-5 program, which was set to expire at the end of this month, has been extended until the beginning of December.
The controversial visa program, which was due to reach the end of its six-month extension period on Sunday, Sept. 30, has been reauthorized through Dec. 7.
President Trump signed the extension Friday at noon, as part of a spending package to avoid a federal government shutdown. The U.S. Immigration Fund, a regional center that has raised money for EB-5 projects, first announced news of the extension.
A favorite of New York developers as a means of raising cheap capital from overseas investors, the EB-5 program was salvaged in March when it was included in a federal omnibus bill. The program gives green cards to foreign investors in exchange for a $500,000 investment and has seen a series of short-term extensions.
“This time around, there are zero chances for a longer-term legislative solution,” said Daniel Lundy, an EB-5 lawyer at Klasko Immigration Law Partners. “Nobody’s working on it as far as we know. The stakeholders are still interested, but the usual suspects in Congress are not talking about it.”
The EB-5 program has also been controversial, with Sen. Chuck Grassley of Iowa one of the most outspoken critics. Developers and industry players have said the senator’s failed EB-5 Reform Act would have damaged the industry. It would have upped the minimum investment amount and set aside more than 1,000 visas for projects in rural areas.
“I suspect that sometime next year we might have regulations from USCIS that address the investment amounts, eligibility requirements,” Lundy said, “and some of the compliance and integrity measures that have been in previous drafts of the bill.”
QUEENS — Nan Xiang Xiao Long Bao is one the most popular restaurants in Downtown Flushing. The soup dumplings attract foodies from all over the city. Before the COVID-19 pandemic, it was a destination for dining. But manager assistant Alice Lin said the business model changed during the pandemic. While the number of people comingview more
It’s New Year’s Day today for the more than a billion people around the world who follow the lunar calendar, and I think we all can agree that the outgoing Year of the Rat was, uh, considerably less than auspicious. So, hell yeah, welcome Year of the Ox! And while there’s no big Chinatown LUNAR NEWview more
Tangram House South – the first opportunity to live in the new heart of Flushing, Tangram – is revealing two beautiful model homes. Designed by New York-based JG Neukomm Architecture, a global design studio that created world famous spaces for the likes of Tiffany, Calvin Klein and hotelier Ian Schrager, Flushing’s new luxury residences bring a whole new level ofview more
NO OFFER TO SELL ANY SECURITY IS MADE BY THIS WEBSITE. THE INFORMATION ON THIS WEB SITE IS NOT AN OFFER TO SELL OR SOLICITATION OF AN OFFER TO BUY AN INTEREST IN ANY INVESTMENT OR FOR THE PROVISION OF ANY INVESTMENT MANAGEMENT OR ADVISORY SERVICES. ANY SUCH OFFER OR SOLICITATION WILL BE PURSUANT TO EXEMPTIONS FROM REGISTRATION REQUIREMENTS SET OUT IN APPLICABLE SECURITIES LAWS AND MADE ONLY BY MEANS OF DELIVERY OF A CONFIDENTIAL PRIVATE OFFERING MEMORANDUM RELATING TO A PARTICULAR INVESTMENT TO QUALIFIED INVESTORS IN THOSE JURISDICTIONS WHERE PERMITTED BY LAW. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.