Irony: You can come to the U.S. if you only have enough money for an airline ticket. Easy; If you can put up $800,000. It is much more difficult.
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You will then receive an EAD, or employment authorization document, as my colleagues are reporting. As my colleagues report, you will receive an EAD (employment authorization document).
If your family is able to invest $800,000 in an approved investment by Homeland Security in the EB-5 program (immigrant investor), then you will have difficulty getting in. (You may eventually get in though). The vast majority of visas for this program in the past five years were but not used.
In the five years from FYs 2019 to 2023, DHS data shows that only 23,150 of the 64,574 visas were used. The figure will be about 24,000 when the data for the last two month is included.
The data reflects a decade’s worth bad news for the EB-5 program. This includes Covid-19, a long suspension of authorization by Congress and a subsequent adoption of EB-5 Reform legislation. also reported earlier.
I do not suggest that the moves by Congress and the Department of Defense were ineffective — far from that — but that neither the government nor the industry has been forthcoming regarding the ongoing problems with the program. Here are the figures for each year:
Number of Available and Used EB-5 Visas,
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Taxation Year |
Visas EB-5 You can also find out more about the Available |
EB-5 Visas Use |
Comment |
| 2019 | 9,940 | 9,478 | The normal ceiling is $9940 |
| 2020 | 11,111 | 3,596 | Covid impact |
| 2021 | 18,602 | 2,949 | Covid impact |
| 2022 | 19,880 | 10,885 | Includes “fall downs” |
| 2023 | 13,987 | 7,127* | Includes “fall downs” |
| Totals | 64,575 | 23,150 | A usage rate as high as 35.9% |
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Source: IIUSA “EB-5 Visa Data Dashboard” Based on DHS data. The data is up to July 2023. This excludes some minor status changes. This number will increase to approximately 9,000 once final figures are available. |
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EB stands for “employment-based”. I was unaware of the details regarding the “fall-downs”.
The law that restricts the issuance of visas to anyone from any country beyond 7 percent in a category has been in place for many years. Many of the recent EB-5 visas issued do not reflect any new investments.
