The U.S. Office of Management and Budget is on the verge of revising regulations governing the EB-5 visa program. The proposal would raise the minimum required investment and shift responsibility for designating areas as eligible for investment away from local entities into federal hands, and the real estate industry isn't certain what that will mean for the flow of investment capital under the program.
One take is that the revision might seriously wound or even spur the demise of the program, which has had a bumpy few years lately, with lawsuits and cases of fraud and abuse dogging EB-5s, and sharp criticism from members of Congress.
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