The 2015 introduction of cutoff dates for mainland Chinese-born EB-5 investors has had profound impacts across the industry. With wait times for new applicants now estimated at well over 10 years, the EB-5 industry is struggling to adapt to declining immigration incentives among the once-dominant Chinese investor pool. Naturally, many EB-5 experts see this situation as untenable, and several possible solutions have been proposed — but so far, none have gained much traction.
In this week’s featured article, attorneys Bernard Wolfsdorf and Joseph Barnett put forth perhaps the simplest answer of all, and one that would require no change to the law as written. They argue that the original legislative intent of the Immigration and Nationality Act of 1990 was to allow 10,000 investors into the country each year under EB-5, and that their derivative beneficiaries — spouses and qualifying children — should not be counted toward the cap.
NES Financial, in collaboration with more than 20 EB-5 industry experts, has released the latest edition of its EB-5 eBook series, EB-5 Insider: Medallion Partners Share Insights on Industry Trends.
For many more articles like this one, download the free eBook now.
Allow us to address your EB-5 needs by contacting us. We look forward to hearing from you!