President Donald Trump’s administration was marked by an extremely rigid immigration policy. Apparently, Biden’s new Democratic government intends to go in the opposite direction. As we all know, Biden and the democrats are much more pro-immigration. And how does the EB-5 Visa Program stay under the Biden government?
During the Trump administration the program revised the minimum investment amount. Since 1990, when the program was created, the minimum amount required from foreigners was US $ 500 thousand in so-called TEAs (Target Employment Areas) and US $ 1 million in other areas. In November last year, the Trump administration raised this minimum to $ 900,000 and $ 1.8 million respectively.
When analyzing Biden’s projects with regard to immigration policy, we realize that his administration will not be so restrictive. Biden’s proposal welcomes immigrants and aims to revoke many of the measures taken by Trump. One of the fastest and easier way to obtain the so called “Green Card” is through the EB-5 Visa Program. The Program allows foreigners the right of permanent residence in the USA (Green Card) and facilitates the process of obtaining American citizenship.
Biden’s different approach regarding immigration policy combined with the crisis brought by the pandemic might bring EB-5 Program back as a priority.
About AMG International Realty and the EB-5 Program
AMG International Realty is a Miami Luxury Real Estate brokerage firm. We also have branchs in Central Florida. If you are interested in learning more about the EB-5 Program, please contact us today: +1 (305) 318 6968 (Heloisa Arazi).