Rules Limiting Immigration Expected To Be Lifted
- The Proclamation “Suspending Entry of Aliens Who Present a Risk to the U.S. Labor Market Following the Coronavirus Outbreak”
- Executive Order 13769, politically labelled as the “Muslim Ban”
On the immigrant front, while there are many restrictions in place, there are two particularly important “rules” that have an impact on immigrants who want to come to the United States of America.
“President Biden has pledged he will lift both the Proclamation and the Ban in the near future. While EB-5 was one of the few exemptions under the Proclamation, the Muslim Ban has impacted some of our investors who could not finish the process. We would like all investors to be able to finish the entire process once they have invested. Now, we’re looking forward to welcoming investors from all over the world again”,
The outcome of the elections will certainly impact the investors of EB5 Capital, as the Regional Center raises money from investors overseas who want to immigrate to the United States of America. The EB-5 visa program was one of the only green card options available during 2020 due to its job-creation element. However, despite the programme being available, many foreign investors were hesitant to apply due to the uncertainty with Covid-19 and the US presidential election.
EB5 Capital has investors from 70 different countries. The top 5 of countries’ investors are from: China (40%), India (12%), Vietnam (9%), South Korea (8%) and Russia (5%). In total, there are around 650 EB5 Capital investors currently living in the U.S.A., across 34 states and D.C. The top 5 states that investors chose to live in are California (33%), New York (12%), Florida (7%), Massachusetts (6%) and Texas (5%). Around 20% of the investors of EB5 Capital are students. President of EB5 Capital, Brian Ostar, explains: “Most of these young adults get sponsored by their parents, who believe that their children will have a better future if they come to the U.S.A. to study and work here.”