Recently, a U.S. research institution announced that immigration reform could promote economic recovery in the United States. The study shows that over the next 20 years, immigration will boost the national economy by 4.8%. Immigration reform could allow more young laborers to enter the workforce and pay taxes, which would reduce the U.S. fiscal deficit by $1.2 trillion.
This research report refutes the views of some opponents of immigration reform who argue that it would reduce job opportunities for Americans and lead to lower wages. Conversely, the authors of the report believe that immigration reform will increase wages by 0.5% by 2033 and help certain industries (such as construction) recover; for instance, after immigration reform, residential construction volume is expected to increase by $69 billion annually. U.S. President Barack Obama has also emphasized that immigration reform is beneficial to the U.S. economy, homeland security, and the well-being of the people. Reforming the broken immigration system is a consensus among the American public and political circles, and the immigration reform bill should be passed within this year.
As the call for immigration reform in the United States grows louder, the enthusiasm of domestic investors for U.S. investment immigration continues to rise. Currently, for the mainstream U.S. investment immigration category, the EB-5 program, compared to the various thresholds for language, education, and residency requirements set by other immigration visa categories, EB-5 applicants only need to invest more than $500,000 in a "Special Economic Zone" regional center designated by the U.S. Citizenship and Immigration Services (USCIS) and create 10 direct or indirect jobs to obtain a two-year conditional immigration visa. After two years, if the investment project is still operating normally and the number of jobs meets government requirements, the visa conditions will be removed, and a permanent green card will be issued. After five years, the investment capital will be returned.
Since the EB-5 investment immigration program has no requirements for the applicant's education, age, or business background—only that they must be at least 21 years old and able to explain the legitimate source of the $500,000—it has been highly sought after by applicants since its launch by the U.S. Citizenship and Immigration Services. According to official statistics from the U.S. Citizenship and Immigration Services (USCIS), from the beginning of the 2013 fiscal year to August 13, the agency received over 5,800 new EB-5 applications from families. Including the existing backlog, there are a total of 8,062 cases pending and under processing. According to the EB-5 U.S. investment immigration act, the annual quota for global investors is 10,000. In the 2012 fiscal year, nearly 7,000 families applied, the highest number in history. Based on current application trends and the USCIS review progress, 2013 is very likely to be the first year to reach full capacity.
