Worldway latest news: On September 14, Worldway invited Mr. Ronald Klasko, Chairman of the EB-5 Committee of the American Immigration Lawyers Association, to dialogue with Dr. Winner Xing, President of Worldway, unveiling the truth about EB-5 visa backlogs and guiding investors on how to proactively respond and how to select projects wisely. Xinhua News conducted a full coverage of the event.
Host: Hello everyone, welcome to this interview. Mr. Ronald Klasko, Chairman of the EB-5 Committee of the American Immigration Lawyers Association, is an authoritative expert on EB-5 in the United States and also a longtime friend of Worldway. Today, Mr. Klasko is here once again to discuss American EB-5 investment immigration with Mr. Xing, President of Worldway, a leading organization in investment immigration in China.
Host: First, could Mr. Ronald Klasko, Chairman of the EB-5 Committee of the American Immigration Lawyers Association, please introduce the current status of investment immigration in the United States?
Mr. Ronald Klasko: Since its launch, the EB-5 investment immigration program has successfully attracted many Chinese investors, and it is also a successful path for immigration to the United States. This success can first be attributed to the increasing collaborations of top developers and project parties in the U.S. for financing. Secondly, more and more Chinese investors are investing in the U.S. These two factors have made the U.S. EB-5 program appealing to Chinese investors. As an organization, we are also working hard to make the U.S. government aware of this issue and to increase the number of visa quotas for Chinese investors in the future.
Host: Thank you, Mr. Klasko. Now, concerning the current heated discussions on visa backlogs, could both experts discuss from a professional perspective how to approach the issue of visa backlogs?
Mr. Ronald Klasko: I would like to offer a few suggestions to investors. First, for those deciding to pursue the EB-5 program, the earlier they invest and apply, the better. Once an application is made, the investor enters the queue to await the visa. Secondly, if there are children who wish to immigrate with their families, if the child is over 19 or 20 years old, it is advisable for them to be the principal applicant. If the plan is for the child to apply with the family without being the principal applicant, it is recommended that the child be under 18 years old. The investment amount may increase in the next 1-2 years, possibly rising to $750,000 to $1,000,000. However, the current investment amount is locked in, so it will not be affected by future increases. Thus, we recommend that investors invest as early as possible.
Dr. Xing: I agree with Mr. Klasko’s points. The issue of EB-5 visa backlogs has been discussed for two years now, with awareness of the current backlog issue. The processing of EB-5 backlog problems mostly involves addressing applications from the first half of the year or from 2013. In the coming months, a large number of applications will likely be approved as well. Thus, if the EB-5 visa policy does not change next year, a backlog will definitely appear. This backlog will significantly impact children. Assuming there is no backlog, during the I-526 application, as long as the child is under 21 years old, their age will be frozen at that moment during the application period. For example, if your child is 20.5 years old at the time of application, their age will remain 20.5 during the entire application process. However, when a backlog starts, the impact will be as follows: during the I-526 application period, the age will still be frozen. The difference lies in what happens afterward. If there is no backlog, once the I-526 is approved, the child’s age remains frozen. If a backlog occurs and there are no quotas, after the approval of the I-526, the child’s age will start to increase until the next fiscal year when new quotas are issued, at which point their age would freeze again. The ultimate consequence of this is that when you apply for the visa, if the child is over 21 years old, they may not be allowed to obtain an immigration visa with the principal applicant. Therefore, it is crucial to act promptly; however, one should not rush into making choices due to urgency but rather select quality projects with lower risks.
Host: Thank you, Mr. Klasko and Dr. Xing, for your insightful explanations. Now, regarding the Pennsylvania Turnpike project launched by Worldway as the general agent for Greater China, could Mr. Xing provide a brief introduction about it?
Dr. Xing: The Pennsylvania Turnpike project is the first financing project initiated by a state government since the passage of the EB-5 Investment Act 25 years ago in 1990. The project is characterized by government ownership, investment, management, operation, borrowing, and repayment. The Pennsylvania government holds an A+ rating, making this project low-risk in terms of investment and achieving an employment rate of 5.3 times. Therefore, the employment risk index is also relatively low. More importantly, this project has received pre-approval from the U.S. Citizenship and Immigration Services I-924, making it a rare opportunity in regard to potential backlog events. Once a decision to apply for U.S. investment immigration is made, this project is an excellent choice.
Host: Thank you, Mr. Klasko and Dr. Xing, for participating in this interview. This concludes our discussion.
![[Xinhua News] Exclusive Interview: President of Worldway Discusses Visa Backlogs with Chairman of the American Immigration Lawyers Association EB-5 Committee](http://www.worldwayhk.com/file/upload/201411/04/13-04-12-36-24.jpg)
