- Firstly, it was important to recognize the need for reformation in the program. It was discussed that the program needs to make major reforms to decrease the amount of cases that are treated with poor diligence as well as the projects that are not feasible. The EB-5 program needs to conduct these changes in order to promote its credibility among global programs of the same nature.
- A point of focus raised was solutions visa quota issues and Targeted Employment Areas (TEA). One of the solutions discussed was to raise visa quota by creating special classifications of projects.
- The EB-5 Securities Roundtable discussed certain considerations such as:
- Regional centre responsibilities – unnecessary rules or laws for these centers need to be reconsidered.
- Promoter Registration – to ensure that all attorneys working with investors for EB-5 applications are legally registered.
- EB-5 Registration processes
- The definition of an “At risk” investment – Regional centers need to make it clear that the investment made by the EB-5 applicants cannot be guaranteed and is always “at risk”.
The EB-5 program was created by the Congress in 1990 to stimulate the U.S. economy by attracting foreign capital investment and creating jobs for American workers. It is intended for entrepreneurs, business leaders, retirees, and others.
This program has expired on September 30th 2015 and extended to September 30th 2016, which is good news for investors wanting to obtain their green card and enjoy U.S. permanent residency.
For more information on the EB-5 program and its eligibilty requirements, please click here.
Please fill out our Free Assessment, and find out if you qualify under any of the business immigration programs offered.