A Joe Biden Win and U.S. Immigration Policy
With the United States elections only a few weeks away, presidential candidates Donald Trump and Joe Biden are campaigning for the chance to lead the U.S. for the next four years. The Trump administration has focused most of its efforts on changing immigration policies while the Joe Biden campaign has categorically been against the immigration policy changes president Trump has implemented and has promised a reform that will benefit both the U.S. citizens and foreign nationals.
The E-2 Nonimmigrant Visa a Viable Option
The current United States temporary immigration ban introduced by President Trump has limited entry for most foreign nationals. While the ban did not affect programs such as the EB-5 immigrant investor visa, the E-2 was also one of the visas excluded from the ban. Therefore, the E-2 visa provides an alternative immigration option for foreign nationals to enter the U.S.
Increase in EB-5 Visa Availability
The United States Citizenship and Immigration Services has announced an increase in the EB-5 annual visa quota. Currently, the worldwide level for annual EB-5 visa quota is set to a minimum of 14,000. However, the October bulletin has informed us of an increase that is almost double the minimum quota to approximately 261,500 visas available for the 2021 financial year.
The EB-5 Writ of Mandamus Process
It is pivotal for EB-5 investors to understand the process and implications of filing a writ of mandamus against the United States Citizenship and Immigration Services. If an application has been unreasonably delayed the writ of mandamus can be used as a measure to expedite the adjudication of the application. However, this does lead to an automatic approval of the application.
The EB-5 Visa Availability Approach Model
The United States Citizenship and Immigration Services has started issuing visas based on their new visa availability approach. Previously, USCIS used the first-in first-out model which resulted in a huge backlog of visa distribution for applicants who’s country had reached their annual quota. This new model aims to prioritize immigrant petition applications and promote efficiency.
Understanding the EB-5 Escrow Process
It is common practice for EB-5 project managers to utilize an escrow arrangement to safeguard investors funds prior to the approval of the investors I-526 petition. The I-526 petition is the application filed by the EB-5 specialist on behalf of the EB-5 investor for their U.S. green card and residency. It is thus imperative that the potential EB-5 investor understands the process behind placing their funds in an escrow account.
Expediting Your EB-5 Application
The most asked question from prospective EB-5 investors is what do they need to do to expedite their application? Firstly, the EB-5 application must be completed and submitted accurately, the initial step is the most crucial step in the process. Therefore, the prospective investor must align themselves with experienced specialists who know and understand the complexities of the program.
How EB-5 Investors Can Protect Themselves
The EB-5 immigrant investor program has grown rapidly since its inception, receiving great interest from expanding markets such as China and India. However, the requirement of a high investment has made the program synonymous with wealthy families, and thus increasing the chances of applicants being exposed to fraudulent activities. Therefore, it is crucial that potential investors are proactively aware of ways to prevent being defrauded.
EB-5 Program Regulations that Protect the Investor
The purpose of the EB-5 immigrant investor program is to stimulate economic growth and increase job creation. According to the U.S. Citizenship and Immigration Services, the program has brought $8.7 billion of foreign capital into the U.S. since 2017. With the rising increase in investments into the program and the corresponding rise in fraudulent activity, EB-5 investors should complete their own due diligence before investing in any EB-5 project.
The EB-5 Program as a Solution to the Suspension of the L-1 and H1-B
The proclamation by President Trump on the temporary suspension of several work visa categories and the subsequent halt of all entry to the United States has caused great panic for foreign nationals scheduled to be in the U.S. on a valid work visa. However, the EB-5 immigrant investor program remains untouched by the new immigration policy and is still a guaranteed route into the U.S.