Immigration plays a pivotal role in the development of nations, whether cultural or economical, immigration continues to be the driving force of interconnectedness.
The United States golden visa, popularly known as the EB-5 Immigrant Investor program , is the ideal immigration program for families considering to move to the United States. Through an injection of $500,000 capital contribution to the U.S., investors can obtain a U.S. green card and residency for their spouse, and unmarried children under the age of 21. The capital contribution is a great stimulus for the U.S. economy and in return the investor would have provided their family with a host of benefits obtained from being a U.S. green card holder.
Currently, investors seeking to partake in the EB-5 Regional Center investment route have had to wait until Congress reauthorizes the program. Following the lapse of the Regional Center program on June 30. 2021, applications under this route have been placed on hold. While many would assume that this will deter prospective investors from continuing to collate documentation required to submit their files, EB-5 experts say that there has instead been a surge in the number of people interested in participating in the program. Shai Zamanian , Legal Director the American Legal Center, says that “spaces in Regional Center projects are fast running out as prospective investors are remitting their initial investments to secure their placement.” The demand for the program is directly attributed to the decrease in capital investment from $900,000 to $500,000 and the realisation that the program is hugely beneficial for the future of the investor and their family, specifically children interested in studying at U.S. universities.
While the EB-5 Regional Center route has been placed on hold, investors had the option of filing under the EB-5 Direct investment route. In comparison, the EB-5 Regional Center model provides prospective investors with greater sense of security that their investment will achieve the objectives of the EB-5 program as outlined by the U.S. Government. Under the Regional Center route investors need not be concerned about job creation and the liability of their investment as the Regional Center shoulders all of the risks.
Granted it has been almost five months of waiting for the reauthorization of the Regional Center route, however, EB-5 lobbyists and experts are confident that the program will be reauthorized this December. Following the issuance of a Continuing Resolution in October by the U.S. government, where they failed to reach a consensus on the elements included in the Federal Spending Bill, the Regional Center route remained unauthorized. This December Congress is due to review the Federal Spending Bill again and it is anticipated that it will be approved and the EB-5 Regional Center route to be included in the approved Federal Spending Bill. Furthermore, the language proposed for the renewal of the Regional Center route is said to allow for the program to run for 10 years without the requirement of annual reauthorization.
The American Legal Center is a team of U.S. licensed lawyers who assists families obtain U.S. green cards and residency through the EB-5 program. They have been continuously hosting bi-monthly educational seminars in Dubai in an effort to educate the market on the benefits of the EB-5 program. With the increased interest in the program the team have scheduled dates in Qatar and Abu Dhabi where they would host similar seminars to prospective investors. It is pivotal that prospective investors start the process of document collation and ensuring that they have their funds ready prior to the announcement of reauthorization to ensure that they capture the $500,000 window of opportunity.
The team will be in Qatar this Saturday, 27 November at the Mandarin Oriental.