When does the EB-5 regional center visa end?
It is not always realized t 00004000 hat the EB-5 investor visa program (which for a $500,000 investment allows permanent residence for a family in the U.S.A.) is due to finish (time out) in 2012. There are no guarantees it will necessarily be renewed in its current format.
Although the program is due to expire in 2012 and there have been a number of plans made in Congress to make it a permanent program, this is no certainty. The political situation is not clear coming up to midterm elections in 2010. Although the President categorized immigration reform as high on his agenda it is not a popular issue with many of the electorate at a time of high unemployment. Indeed immigration reform may be seen by many politicians as a vote loser.
Some have argued that the extension of the EB=5 regional center program should be a certainty as the program is a source of valuable capital into the USA. After all with each successful regional center immigrant investing $500,000 in the USA and the potential for several thousand green cards, the capital contribution to the USA is significant.
However, politics are not necessarily just based on economic logic as other factors can play a part. For example some of the Hispanic members in Congress are focused on reform that benefits their constituents and without it may block other forms of immigration reform, including making the EB-5 a permanent program.
There are a number of additional issues which could impact the program in other ways. One of them is the number of green cards allowed through the EB-5 pilot program. So far the full quota of visas has not been used up allowing the visa process to be one of the quickest, with no waiting lists, however certain factors may mean this could change. One of the most significant is changes in the equivalent immigrant investor program in Canada. The Canadian program (IIP) had been operating for longer than the EB-5 program in the USA and required an investment of $400,000 as opposed to the $500,000 for the US program. However, with the cost of the Canadian program doubling to $800,000 it is very probable that there will a considerable increase in the popularity of the US EB-5 as the most economical option, meaning quotas could be quickly reached.
The increase in cost of the Canadian immigrant investor program has also raised concerns that the U.S. could also consider raising the $500,000 investment level, particularly in an economic climate when raising capital is seen as a major priority.
Another issue that could impact on the availability of the visa has been increasing awareness of the EB-5, particularly in Asian countries where there has been a considerable rise in the numbers opting for the EB-5 immigration path. The program has been highly marketed, particularly in China, with some agents earning huge commission payments on particular programs, raising concerns about the suitability of some of the programs they are recommending.
Further evidence that the quota of visas could be reached are signs of growing concerns with other visa options. Widespread overseas media coverage of difficulties with the E2 visa, which does not provide permanent residence and can lead to deportation, has caused a lot of dissatisfaction. Another previous favorite, the H1B has become more difficult in relation to obtaining employment sponsorship in the current economic climate. Many aliens currently living in America on these visas have instead applied for the EB5 to give them much needed peace of mind.
An additional reason likely to see an increase in the EB-5 pilot program has been the fact that whereas previously there was little measurable information on the success or otherwise of this visa there is now clear evidence of its success as the initial investors in certain programs have had their $500,000 investment safely returned.
So the answer to the question "when will the EB-5 investment program end" is not clear-cut. Technically the response is 2012 however, the increasing success of the visa and lack of credible options may mean the quote numbers are eventually reached and places, particularly in popular and importantly programs, sell out.
