Why should foreign nationals plan for EB-5 now? Despite the number of Covid-19 cases resurging, now may be a strategic time to start planning for investing in the EB-5 Program.
Life in the U.S. will return to being normal, the question is simply when? With the EB-5 Program process taking several months to even several years depending on a variety of factors, planning well in advance to file is key. Additionally, with the annual limit of of EB-5 visas available for FY21 nearly doubling and the low number of applications coming in (see FY 2020 Q2), now might be a good time to get started with plans to invest in the program.
Immigration to the U.S. right now seem like a bleak option due to suspended services at U.S. consulates and embassies, travel restrictions, and slower processing times at USCIS, but it may be very temporary. With the EB-5 Program requiring investors to conduct thorough due diligence, to find and work with multiple industry professionals, and to gather and file complex paperwork, starting on the process now may mean that by the time they’re ready to submit their I-526 petition, life with Covid-19 may appear to be improving.
According to the CDC, Operation Warp Speed has been working since the pandemic started to make a Covid-19 vaccine available as soon as possible. While there are no currently approved or authorized vaccines available, in a report updated on October 14, 2020, the CDC briefly mentions the possibility of one or more vaccines becoming available before the end of the year.
A Covid-19 vaccine is a key step to getting back to normal life. Businesses may be able reopen more fully, schools and colleges may be able to resume in-person classes, and entertainment industries may be able to start bouncing back if Covid-19 was under a certain amount of control. Top business opportunities, world-class universities and unique entertainment options are three major reasons many foreign nationals look living in the U.S.
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