By Carel van der Merwe
The EB-5 program has a promising future, especially in the Indian demography. With people still having a strong interest in moving to the U.S., despite some delays in the past, thanks to improved transparency and control in the program, as well as a more flexible investment strategy, the option remains attractive.
The enactment of the EB-5 Reform and Integrity Act of 2022 signified a crucial moment in the recent evolution of the EB-5 program. This law introduced several substantial provisions aimed at enhancing the transparency of EB-5 regional centers and safeguarding the interests of investors.
One of the most noteworthy alterations pertains to the introduction of fresh reporting guidelines for regional centers. These guidelines mandate that regional centers must furnish routine updates to the US Citizenship and Immigration Services (USCIS) regarding the status of their investors and the advancement of their projects.
Furthermore, USCIS now has the authority to travel to EB-5 project sites to personally observe developments and confirm that they meet the program’s standards. This is a critical step in ensuring that regional centers carry out their responsibilities and provide investors with accurate and up-to-date information about their projects.
Furthermore, the kinds of projects that are open to EB-5 investors have changed dramatically in addition to the modifications imposed by the EB-5 Reform and Integrity Act of 2022. We have also seen an increase in the number of innovative projects that offer more appealing potential for EB-5 investors in recent years.
For example, national interest/humanitarian projects like addiction treatment centers for expedited EB5 visas, projects focusing on high-tech industries such as biotechnology and clean energy, which have the potential to generate significant profits and rapid growth, and others. All of the above ensure the popularity and viability of the EB5 program.
(Author is Director of Sales at EB5 Coast To Coast)