Chinese immigrants and investors looking to travel to California through the EB-5 visa program may be interested to learn that the program was paused on May 8. The report noted that this does not necessarily mean that the program is ending; the State Department and United States Citizenship and Immigration Services are reportedly giving investors from other countries a chance to obtain their green card.
Essentially, investors who applied for their visas after May 1, 2013, will be required to wait until more visas are available. The effects of the decision, which could include longer lines for visas in the future and a loss of millions of dollars in the form of new investments, were heavily weighed. It should be noted that, in early 2015, two congressmen introduced H.R. 616 which would reform the program.
Among the number of reforms proposed the bill included the doubling of the per-country cap from 7 percent of the worldwide allotment to 15 percent. This would stave off any future retrogression. Additionally, those who are a spouse or child of the investor will not be counted towards the EB-5 visa allotment.
U.S. immigration policy can be complex and difficult to understand. However, employment immigration attorneys may be able to potentially assist those who wish to come to the U.S. in order to open up a business or to invest in a business. The attorneys may represent investors by walking them through the application process, filling out and filing paperwork and answering any questions regarding the process that the applicants may have.
Source: The Huffington Post, "Members of Congress Step Up With Legislation That Solves Chinese EB-5 Retrogression", Ali Jahangiri, Enrique Gonzalez and Parisa Karaahmet, May 8, 2015