Written by Taher Kameli America needs help, here comes EB5? The “EB-5 Program” refers to employment-based immigration under section 203(b) of the Immigration and Nationality Act (codified as 8 U.S.C. § 1153(b)). The EB-5 Program has been in existence since the 1980’s, and until recently, long-term stakeholders in the community thought that they had seen it all. But with the pandemic continuing to impact every sector of the U.S. and global economy, industry experts are now required to speculate as to how the EB-5 Program will be impacted. Based on this introduction, one would expect the next couple paragraphs
Written by: Taher Kameli, Esq. The EB-5 Immigrant Investor Program dating back to 1990 continues to be an attractive route to U.S. citizenship and the participation rate for the program has remained high among foreign investors. Importantly, almost 40,000 EB-5 petitions have been filed with the United States Citizenship and Immigration Services (USCIS) over the past three years. Since its inception, the EB-5 program has proven to be beneficial to the U.S. economy as well. It has truly emerged as a vital source for job creation and has helped stimulate the U.S. economy.