Which Way Forward On EB-5 Investor Immigration Program?

Thousands of foreign investor immigrants are stranded at the moment after the U.S. Regional Center EB-5 program that led to permanent residence sunset on June 30th, 2021. The program has not been reauthorized since then and the I-526 petitions that were filed by foreign investors under the program are in limbo until the program is reinstated. What is more, in some cases, foreign investors who invested in one of the Regional Center projects have also discovered to their dismay that the funds they invested have been lost as the projects involved ran into financial trouble, in part from the negative impact of the Covid-19 pandemic on business. It seems to them like a perfect storm has derailed their hopes of a better life in America. Bewildered, they await further word on the future of EB-5 investor immigration in the United States.

Infrastructure Legislation

Meanwhile, the U.S House of Representatives has finally passed one of the two infrastructure bills it had under consideration. The bill called the American Jobs Plan, called for massive investments to improve the country’s roads, bridges, pipes, ports and internet connections and involved $1.2 trillion in spending. It was adopted on the basis that the Build Back Better Act, a companion human infrastructure bill, would be passed by the House during the week of November 15. Negotiations in Congress dealing with infrastructure spending stretched out for weeks essentially blocking any movement on other measures that might have included fixing EB-5 program matters.