EB-5 Visa: Immigrant Investor Program is Set to Expire Late September

Immigration Reform

The EB-5 Immigrant Investor Program has been called a “visa for billionaires.” Created 28 years ago, it allows wealthy investors of other countries to invest a minimum of $1 million in any venture or $500,000 to a high unemployment area or rural area of the United States in exchange for a visa and permanent status.

The program was up for expiration but was saved in 2018 and given an extension date of September 30, 2018. With that date quickly approaching, many are wondering what will happen if or when it does expire.

Truthfully, while ending this program seems like it will mainly affect investors in foreign lands, it will have a big impact on the United States as well. 10,000 of these visas are given out each year, which provides a huge influx to America’s economy. If these investors were to suddenly disappear, the country may feel that missing cash flow.

While there has been talk of controversy, and even fraud, within the program, with arguments stating that investors are going to Manhattan and not investing in the high unemployment areas they are supposed to, it is clear that the missing cash from foreign investors will be felt in the event of termination. What that means for America’s economy as a whole will remain to be seen upon the expiration date if the program does not get extended. However, any time millions of dollars are pulled out of the economy, it can be a hardship.

Of course, the people who will likely feel the impact of the loss of these investments are those that have found employment through the program, or that will need employment in the future. Regardless of whether the investors have been turning to high unemployment areas or big cities that do not have an unemployment problem, the fact remains that the investments are still creating jobs. Without those jobs, the unemployment rate in the United States could be affected, leaving Americans without jobs.

Although there will be effects felt within the country should the program expire, the effects will also be felt around the world. While the immigrants benefiting from the program are wealthy and may not be escaping a bad financial situation, as so many immigrants are, they still have reasons for wanting to immigrate to the United States. With the expiration of the program, and the tightening of immigration regulations that has occurred recently, it is unclear as to whether the EB-5 investors will be able to pursue this visa in the future.

With so much talk in the past few weeks of the problems happening at the southern border of the country, the fact that the EB-5 Immigrant Investor Program is set to expire within a few weeks has gone somewhat unnoticed. However, it is crucial that people understand that the end of this program could bring serious effects that will be felt around the country.