In 1992, Congress created the Immigrant Investor Program, which sets aside EB-5 visas for participants who invest in commercial enterprises associated with regional centers approved by United States Customs and Immigration Services.
There are currently 88,000 EB-5 investors with approved or pending petitions.
Many of these investors will face a backlog of as many as 15 years without the option to reside in the United States.
As a result, the program is suffering, and many investors are moving to abandon the program, putting hundreds of millions of dollars of future investment in the U.S. economy at risk.
The EB-5 backlog is not only hindering hundreds of millions of dollars of investment in the U.S. economy, it is also deterring some of the best and brightest minds from making their contributions to this country.