Last updated: Thursday, April 27, 2017
Immigrant Investor ProgrammePosted: Monday, March 13, 2017
To provide investors with the fullest information about the EB-5 Immigrant Investor Programme, the Vietnam Chamber of Commerce and Industry (VCCI) will coordinate with Grand Aster USA LLC to organise a workshop on “EB-5 Investment prior to Law Changes - Final Gold Chance” on March 14, 2017 in Hanoi.
EB-5 Immigrant Investor Programme was created by the US Congress in 1990, allowing foreign investors to invest US$500,000 in the Targeted Employment Area (TEA) and the whole family will receive green cards. However, in the recent draft amendment to the EB-5 Law, the US Department of Homeland Security, which administers the United States Citizenship and Immigration Services (USCIS), requested to change the investment limit in the TEA from US$500,000 to US$1.35 million. The limit suggested for other regions will also be raised from US$1 million to US$1.8 million.
The department also proposed redefining the concept of TEA. Instead of satisfying just one condition, TEAs must satisfy two conditions at the same time: An unemployment rate greater than 150 per cent of the national average and a population of 20,000 or more. Hence, instead of being easily located in the centre of big cities like now, new projects may be difficult to meet location conditions and forced to choose locations far from the centre to launch projects in the future.
Invited guests include The Prime Group from Chicago, Illinois; The LCP Group and Macklowe Properties from New York City; Feltrim Group from Orlando/Haines, Florida; and Tran Law Group Garden Grove, California.