{"id":56375,"date":"2021-03-18T10:06:30","date_gmt":"2021-03-18T14:06:30","guid":{"rendered":"https:\/\/www.investmentimmigration.com\/?p=56375"},"modified":"2021-03-18T10:06:30","modified_gmt":"2021-03-18T14:06:30","slug":"new-u-s-bill-proposes-to-eliminate-eb-5-country-cap-policy","status":"publish","type":"post","link":"https:\/\/www.investmentimmigration.com\/new-u-s-bill-proposes-to-eliminate-eb-5-country-cap-policy\/","title":{"rendered":"New U.S. Bill Proposes To Eliminate EB-5 Country Cap Policy"},"content":{"rendered":"

A new U.S. bill is proposing to eliminate the per-country cap for all employment-based green cards, including the EB-5<\/a> visa.<\/p>\n

Currently, the EB-5 program has an annual quota of 10,000 visas with a per-country cap of around 700 visas.<\/p>\n

If excess applications are received, then these are carried forward to the next year. The net result is that each future applicant faces the prospect of a longer waiting period for a US green card.\u00a0<\/span><\/p>\n

The proposed change removes the per-country cap and introduces a first-come-first-served setup. So, the investor who applies first will get their application processed irrespective of the country of origin.<\/p>\n

\n

Read More<\/b><\/p>\n

All You Need To Know About US EB-5 Capital Redeployment<\/a>
\nEB-5 Popular Across Globe: Growth in Demand Between 2017 and 2019<\/a>
\nChina\u2019s EB-5 Dominance Wanes as Indian and Vietnamese Candidates Step Up Demand<\/a><\/p>\n

\n

Implications for EB-5 Investors\u00a0<\/span><\/h3>\n

Whether removal of per-country cap is a positive or not depends on the volume of green card applicants received from a country. If Indians account for 90 percent of all applications received, then the sheer weight of their numbers will mean they will receive the lion\u2019s share of the green cards.\u00a0<\/span><\/p>\n

This is why this proposal is viewed as good news for Indian EB-1\/EB-2\/EB-3 applicants. They dominate these categories and removal of per-country cap will make more green cards available to them. \u00a0<\/span><\/p>\n

Unfortunately for Indian EB-5 investors, China has the biggest EB-5 backlog, which means absence of per-country cap is going to be a plus for Chinese EB-5 investors at the cost of investors from other countries.\u00a0<\/span><\/p>\n

China\u2019s huge backlog is the result of surge in EB-5 applications filed between 2014 and 2017. Indian interest in the EB-5 visa increased post 2016-17 when the up to five year wait for the US green card seemed attractive compared to the 80-year wait under EB-2\/EB-3 categories.\u00a0<\/span><\/p>\n

Impact on Indian EB-5 Investors<\/h3>\n

While the bill contains measures to prevent any visa program from being dominated by a single country, the net effect is that Indian EB-5 investors will face longer waiting periods.\u00a0<\/span><\/p>\n

The average four-year wait between filing of the I-586 petition to issue of the EB-5 visa is expected to double to more than eight years.<\/p>\n

Increased waiting time is going to increase the risk of failed businesses and rejection of EB-5 petitions. EB-5 rules require applicants to keep their investments \u2018at-risk\u2019 until the end of the two-year period of conditional permanent residence.\u00a0<\/span><\/p>\n

If the proposed change becomes law, then Indians may have to keep their investments at risk for 10 to 12 years to qualify for the green card.\u00a0<\/span><\/p>\n

A longer waiting period also means the risk of a child aging out increases significantly. Children qualify as an investor\u2019s dependent family member only if the child is aged less than 21 years old.<\/p>\n

If the time period for an EB-5 visa is significantly longer than the adjudication period for the application, then applicants risk their children \u2018aging out\u2019, meaning they are disqualified from qualifying for the green card as a dependent family member.\u00a0<\/span><\/p>\n

This is a significant risk considering securing good education and career prospects for their children is the primary reason why Indian investors apply for the EB-5 visa.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

A new U.S. bill is proposing to eliminate the per-country cap for all employment-based green cards, including the EB-5 visa. Currently, the EB-5 program has an annual quota of 10,000 visas with a per-country cap of around 700 visas. If excess applications are received, then these are carried forward to the next year. The net…<\/p>\n","protected":false},"author":2,"featured_media":56376,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"footnotes":"","_jetpack_memberships_contains_paid_content":false,"jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[347,454],"tags":[5804,5802,5800,4030],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.investmentimmigration.com\/wp-content\/uploads\/2021\/03\/U.S.-Bill_301260425-scaled.jpeg","jetpack_shortlink":"https:\/\/wp.me\/p8hnWW-eFh","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/posts\/56375"}],"collection":[{"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/comments?post=56375"}],"version-history":[{"count":0,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/posts\/56375\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/media\/56376"}],"wp:attachment":[{"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/media?parent=56375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/categories?post=56375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/tags?post=56375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}