Rumours are swirling that lawmakers are keen to scrap the EB-5 investment programme, which allows wealthy individuals to obtain a U.S. green card by investing in American businesses and creating jobs for Americans.
So far, President Trump has been silent on this issue, although there’s no indication that he’s in favour of dumping it. After all, it falls in line with his stated goals of creating more jobs and boosting the American economy.
According to the US Department of Commerce, the EB-5 programme created over 174 000 jobs in 2012-2013, and it pumps billions of dollars into U.S. infrastructure and real estate projects.
While the Trump administration often seems to be anti-immigrant, the EB-5 programme facilitates legal immigration, and it is only illegal immigration that Trump appears to want to clamp down on.
Industry insiders expect the EB-5 programme will remain, but that Congress may increase the minimum investment amount needed to gain access to the green card sometime on or before September 30th, 2017.
Proposed regulations suggest the minimum investment threshold be increased from $500 000 to $1.3 million for targeted employment areas (TEAs) and from $1 million to $1.8 million for projects in other areas. There is also a possibility that the threshold will remain the same, or that the deadline for increasing it could be extended with no changes. However, the industry believes that changes are imminent.
If you’re thinking of getting your U.S. green card through participating in this programme, it makes sense to start the process sooner rather than later, as any changes made are unlikely to affect existing investors.