Original article: Bisnow
President Donald Trump wants expand immigration through EB-5 Program. His proposal is to increase the annual number of available EB-5 visas from 10,000 to 75,000 while decreasing minimum investment amounts for legal residence from $900K to $450K. The news was brought by BISNOW following POLITICO reports (Click here to access the news)
The announcement was done several months after Trump’s administration did the opposite by tightening immigration through the program. In November, minimum investment for the program was nearly doubled, from $500K to $900K in the so called TEAs (targeted employment areas), and from $1M to $1.8M in other areas.
EB-5 Program was created back in 1990. The idea was to stimulate the US economy by creating jobs with foreign money.