Over the last year or so, experts have weighed in on the immigration policy of President Elect, Donald Trump. Though there is still much to be confirmed, “There is one immigration law on the books that should continue”—and that is the EB-5 Program.
The Program has been around since 1990, and has served as an integral resource for project finance, particularly during the 2008-09 financial crisis, “When business, primarily real estate developers, were unable to get commercial loans. At the same time, savvy developers knew that low interest rates in Europe and large allowances for Chinese investment abroad by Beijing was supportive of American real estate, both from individuals and institutional investors in need of long-term capital preservation. Developers had no way to raise capital, so they turned to rich foreigners....”
As FirstPathway Partners reported back in December, Congress announced the Program would be extended yet again, this time until April 28th. This short-term extension has come with no proposed reforms, though EB-5 professionals theorize the extension provides time to get a new bill passed. There is a good likelihood that an updated investment requirement of $800,000 will take effect. Targeted employment areas, or TEA’s, are expected to become redefined as well.
The magazine recognizes the EB-5 Program as a job creation program, noting that it fits perfectly in the wheelhouse of the Trump mindset.
As new information regarding reforms and the Program are released, FirstPathway Partners will provide updates.