On March 18, Senators Chuck Grassley and Patrick Leahy introduced EB-5 Investor Visa Integrity Reforms in the US Congress. The bill will extend the expiring EB-5 regional center (RC) programme by five years and will also have stringent measures in place to address frauds and bring more credibility.
The RC programme is expiring on June 30, 2021.
This, ideally, should make Indian investors, second largest in the EB-5 category, happy. But that is hardly the case. Uncertainty around the bill, coupled with longer wait times, has become a huge cause for concern for these investors, whose fate now hangs in balance.
What is EB-5?