A member of the senate of the USA introduced a new Bill that helps to address the mass and the national security weaknesses in the EB-5 investor program which currently set to expire at the end of June, as the program has been exploited for many years by the foreign investors to get fast-tracking green cards, and the developers used investors to get money quickly in fake projects.
The new bill will improve the role of oversight on the program and includes laws to reform and confirm the integrity, protect it from fraud and address national security weaknesses, otherwise, this program will not be allowed to continue.
When the Bill is approved and signed into law, it will be extended till September 2026 bringing stability to the program and industry, it is also expected to provide more integrity measures of transparency when an investor puts funds into the program along with protecting investors who have already invested and in different stages of the process.
To know more, please contact Reach Immigration today.