EB-5 program extended through SeptemberDecember 18, 2015 – In The News
Rogelio "Roy" J. Carrasquillo was featured in the Real Estate Finance & Investment article, “EB-5 program extended through September.” Full text can be found in the December 18, 2015, issue, but a synopsis is below.
The EB-5 immigration program will take a back seat as congress votes to extend legislation of the popular program until later this year.
There may be additional fees associated with the revised program such as fraud protection, additional disclosure, raising the TEA to $800,000 and even talks of increasing the I-526 filing cost from $1,500 to $10,000.
Fox Rothschild’s Roy Carrasquillo continues to view EB-5 as a viable source of capital despite criticisms over the program such as investment-related fraud and poorly defined TEA sites.
“Where [EB-5] falls in the capital stack, usually as mezzanine [debt] or preferred equity, it becomes cheaper capital for developers and I think it’s here to stay,” Carrasquillo concluded.