Wolfsdorf Rosenthal LLP partner Joseph Barnett will be in SA from August 21 to 28 2019 to meet prospective EB-5 investors. Picture: SUPPLIED/WOLFSDORF/SHUTTERSTOCK
However, new regulations that will substantially increase the minimum EB-5 investment amount have been published in the Federal Register, with an effective date of November 21 2019. The proposed changes will price out many South Africans seeking to obtain permanent residency within the US through the EB-5 visa programme.
Another major change is that the authority to designate a geographic location as a TEA has been moved from state governments to the federal government – a change that is likely to lead to significant delays and additional costs to EB-5 projects and investors.
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