The EB-5 visa program provides permanent residency for the applicant and their whole family in return for a minimum $500,000 investment into a U.S business. The majority of EB-5 investments are currently managed by Regional Centers which use the investments to develop projects nationwide.
An increase in the number of investors applying and achieving an EB-5 visa in recent years directly links to the rise in the number of wealthy investors in developing countries. While the program has achieved positive results and is gaining more and more interest, there are still ways to make the process more efficient. USCIS are looking into how the streamline the EB-5 visa and a number of changes have been planned to make the process run smoother:
Firstly this involves assigning the Department of Commerce to supervise the decision making of the Regional Centers. Here the DOC will monitor data and methodology to assess the program’s impact.
Secondly the gap between the EDAs and Regional Centers will be bridged to ensure nothing is left unsupervised. This aims to build mutually beneficial partnerships between the two areas of authority and to generate more funding for the scheme.
Finally, the data of Regional Centers will be more readily accessible for the public, providing a clear view of where and how their investment will be managed. This hopes to open up the process and show a higher level of trust to reassure investors that their money will be professional handled.
If these changes are successful, the EB-5 process will be hugely improved. Better management and accessibility will inspire confidence in investors, leading to more business and contributions to the U.S economy. It will also help to achieve the program’s aims in supporting regional economic development, particularly in the distressed areas.
To find out more about the EB-5 Visa, what it involves and who it is suited to please contact us at [email protected]
