The EB5 program, one of the most popular immigration routes to the USA, may well see significant changes due to the outbreak of the Coronavirus (COVID-19). The EB5 has been integral to the USA’s economy through bringing in unencumbered funds, boosting job creation, and developing rural or underdeveloped areas of the country.
Due to the heavy toll the Coronavirus outbreak has taken on the global economy, world governments are looking for options to revive their economic systems once the outbreak and preventive measures have passed. The USA has shifted its attention to the EB5 program, with papers emerging claiming that the government is now studying the possibility of lowering the required investment amounts drastically, with an eye on raising the number of applicants and visas granted from 10,000 visas to 75,000 visas. This colossal increase would in turn revitalize the economy through foreign investment.
With the global scene still in a reactive state after the shockwave of the COVID-19 outbreak, no actual actions have been taken in this regard. Reach Immigration will keep you updated on any new developments in this matter.