By Anayat Durrani
More than two years after the pandemic, global migration continues to be impacted by a growing feeling of uncertainty about the future. The current conditions have led many individuals to redefine their home base, seeking better locales based on health, education, and leisure for their families.
What can be expected in the RCBI industry?
Marko Issever, CEO of America EB5 Visa, LLC says many wealthy investors are no longer satisfied with having only one passport and want to live and work in geographies with better economic opportunities.
“That is why the United States, through the EB-5 option, is still one of the most desirable destinations,” says Issever. “That said, investors are considering other options due to the recent backlog in processing all phases of the applications, the initial I-526 approval, the subsequent conditional green card approval, and finally, the permanent green card approval.”
Issever says many are choosing Canada and countries that are part of the EU like Spain, Portugal, Malta, and Greece, due to their relatively shorter time to obtain residency and more favorable tax treatment.
“However, with the passage of the new Reform and Integrity Act of 2022 and the subsequent series of lawsuits set to adjudicate in favor of the EB-5 industry, we expect processing times to improve substantially and trigger a renewed interest in the program in the coming months,” says Issever.