USA EB5 Investor Visa - Extend or Expire

One of the most popular Golden Visa programmes worldwide, the US EB-5 investor visa is set to expire on September 30, 2017. The US Congress voted to temporarily extend the programme back in April 2017. Since Donald Trump has been inaugurated as US President it is not clear at this time what his views are on the EB5 programme and there is uncertainty whether the programme will continue.  The EB-5 immigration program hands out green cards to foreigners who invest at least $500,000 and create 10 jobs in the U.S.

Currently a limit of 10,000 EB5 visas are issued each year, 85% of those to Chinese nationals. Investors can get Green Cards through investing $500,000 in areas labelled as “high unemployment” or $1 million in areas without that classification. Several proposals were made in January 2016 by the Department of Homeland Security including raising the limits to $1.3 million and $1.8 million and reclassifying areas designated as high unemployment on the basis that most areas seem to have crept into this classification.

Recently two Representatives Chuck Grassley and Dianne Feinstein introduced proposals to end the EB-5 altogether, although it is generally felt that this will have little chance of success. It would be difficult for Donald Trump to criticise the program as several Trump branded projects appear to have benefitted from EB-5 investment over the years. However with the recent travel ban introduced on six predominantly Muslim countries and Trump’s proposed hard-line stance on China, the outcome of any review remains uncertain.

Any change or end to the programme is likely to send investors and applicants scurrying for other golden visa programmes. The US programme is the largest in the world and in itself exceeds the numbers generated by all the European programmes put together. The US EB-5 programme for now remains open and the likelihood is it will be extended in some shape or form after the September 30^th deadline. However potential applicants would be wise to progress ahead of any changes and also consider any potential knock-on effect to alternative programmes in Europe and the Caribbean.