The US EB-5 program swamped

March 28, 2014
USA EB-5 visa program News
According to news reports, there has been a surge in interest and demand for investor visas from Chinese, like it was never witnessed before. The aforesaid  ‘investor-immigrant category’ is known as the EB-5 visa program. This extraordinary surge and interest from the investor-applicants is swamping the said visa program that its assigned limit or quota of 10,000 could likely be reached very early and soon. The investor visa is a visa in which any alien or foreigner seeking to offer or commit US$ 500,000 and create 10 new jobs in the US would be granted the US green card.
Such has been the demand for this visa program that the US government is of the view that the quota could be exhausted by the summer (typically July-August months). According to the data and the statistics compiled pertaining to the issued EB-5 visa, Chinese nationals comprise 80% of the total number of visas issued, in comparison to just 13%, just a decade ago. According to both experts and casual observers, there is some kind of an alarm among many Chinese interested in the visa that because of the demand being so huge, the waiting lines will be so serpentine, that they could be left out of the process. It is also being pointed out that the slashing of a similar program by Canada, just recently, led to some kind of a spate in the applications to the USA’s EB-5 visa program.
As some observers say, from the Chinese point of view or perspective, there are many advantages to the program and in migrating to the US. A green card, for example, provides for a way to send their wards to college, freedom from heavy pollution and also enjoy an improved quality of life. And, as compared to the other countries, the cost of the visa too is quite cheap. And, there are also some who point to the many advantages and benefits to the US from the program such as benefits to the US economy, etc. from the EB-5 visa program.   
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