S. 3245 WAS SIGNED INTO THE LAW BY PRESIDENT OBAMA ON FRIDAY, SEPTEMBER 28TH, 2012. THE VISA EXTENDS THE EXPIRATION DATES OF THE EB-5 REGIONAL CENTER PROGRAM, THE SPECIAL IMMIGRANT NON-MINISTER RELIGI

On September 28, 2012, President Obama signed into law an extension of several important immigration law programs.

The EB-5 Regional Center Program, similar to the EB-5 Investor Program, enables stimulation of the U.S. economy by overseas investors, the difference being that the EB-5 Regional Center Program is provided for by "The Immigrant Investor Pilot Program" through investments that are affiliated with an economical unit known as a "Regional Center". Under the main EB-5 Investor Program, minimum investment of $1 million dollars is required. However, under the Regional Center Program, minimum investment of $500,000 is required. In both cases, job creation of at least 10 U.S. workers is required. EB-5 Program, which was scheduled to expire on September 30, 2012, has been extended to September 30, 2015.

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Published In: Administrative Agency Updates, Immigration Updates, International Trade Updates, Labor & Employment Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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