Since 2014, WorldWay has conducted a comprehensive year-end review of global immigration hotspots and selected the "Top Ten Immigration Events" each year, which has consistently become a focal point for both industry insiders and the public. As the bells of the 2018 New Year are about to ring, the expert team at WorldWay, after careful research and analysis, and having consulted with authoritative figures in the immigration sectors of relevant countries as well as some investors, has selected the "Top Ten Immigration Events of 2017" to share with you.
1. The U.S. EB-5 Regional Center Program extended for the fifth time
The "U.S. EB-5 Regional Center Program" expired on September 30, 2015. After two extensions in 2016, the industry originally expected a final resolution in 2017. However, due to the inability of various U.S. sectors to reach a consensus, the program was extended for the fifth time until January 19, 2018, without any changes. The repeated extensions of the EB-5 Regional Center Program have brought uncertainty to the future development of EB-5 investment immigration and have also had a significant impact on the EB-5 investment immigration market. Currently, the game between all parties regarding the reform of the EB-5 Regional Center Program has entered a white-hot stage, and the official introduction of the EB-5 Regional Center Program may not be far off!
2. U.S. EB-5 investment immigration visa backlog becomes a key industry concern
The U.S. EB-5 investment immigration visa operates on a quota system. The law stipulates that approximately 10,000 visa quota slots are available for EB-5 investment immigration each year. Before 2015, the number of applicants immigrating to the U.S. through the EB-5 visa category had not exceeded 10,000 annually. However, with the surge in the number of applicants, applicants born in mainland China began to face a backlog starting May 1, 2015. The industry hoped that the reform of the EB-5 Regional Center Program would be passed in 2017 to resolve the backlog, but the bill has not yet been finalized, and the backlog issue has become the biggest obstacle on the path of EB-5 investment immigration. Currently, the focus of investors on EB-5 investment immigration has shifted from price increases to the backlog, and the U.S. EB-5 investment immigration visa backlog has become one of the issues of concern for the industry and investors.
3. The U.S. officially withdraws from the Global Compact for Migration and tightens immigration policies
Since taking office, Trump has gradually fulfilled his campaign promise of "America First" and began to tighten immigration and visa policies: building a wall on the U.S.-Mexico border, cutting funding for asylum immigration, signing travel bans, strictly reviewing visa applications, tightening the H-1B visa program, canceling the "Deferred Action for Parents of Americans" program, tightening the number of legal immigrants and refugees, expanding the scope of visa application interviews, cracking down on overstays, planning to cancel work permits for H-4 visa holders, and planning to abolish the DACA (Deferred Action for Childhood Arrivals) program, etc. Because many terms of the Global Compact for Migration were inconsistent with the immigration policy principles of the Trump administration, it ultimately led to the U.S. withdrawal from the Global Compact for Migration. Of the 13 million immigrants absorbed by the U.S. from 2005 to 2016, nearly 9.3 million came to the U.S. through family-based immigration. One of the purposes of Trump's withdrawal from the Global Compact for Migration is to shift from a "chain migration" system to a "merit-based immigration" system. The Trump administration's continuously tightening immigration policy has become a major focus in the Chinese and foreign immigration circles in 2017.
4. The 3rd U.S. Immigration Month event was successfully held, continuing to cause a sensation
In June 2017, WorldWay successfully held the 3rd U.S. Immigration Month event in China, which greatly promoted non-governmental immigration cultural exchanges and economic and trade cooperation between China and the U.S. As the highlight of the 3rd U.S. Immigration Month, the 2017 Overseas Investment Summit Forum was also successfully held in Beijing and Shanghai on June 17 and 18, 2017, respectively, attracting many guests including Chinese and foreign political dignitaries, Chinese and foreign economists, famous entrepreneurs, investment experts, tax experts, authoritative figures in the immigration industry, and over two thousand investors. From the first U.S. Immigration Month in 2015 to the third in 2017, each U.S. Immigration Month has attracted the active participation of people from all walks of life in China and the U.S., and it has developed into an annual grand event and a major landmark activity in the immigration industry.
5. The U.S. Congress and USCIS promote the reform of the EB-5 Regional Center Program
The U.S. Congress and USCIS have been committed to the reform of the EB-5 Regional Center Program from legislative and administrative levels, respectively. Since April 2017, after Senate Judiciary Committee Chairman Grassley and Senate Appropriations Committee Chairman Leahy jointly proposed the "American Job Creation and Investment Promotion Reform Act of 2017" (draft), in October 2017, Senate Judiciary Committee Chairman Grassley and House Judiciary Committee Chairman Goodlatte jointly proposed the "latest, better and final proposal" (i.e., the "2G" proposal), which further revised the original draft bill. The above-mentioned drafts and proposals have greatly promoted the progress of Congress's reform of the EB-5 bill, and the U.S. Congress's reform of the EB-5 Regional Center Program is imminent. It is expected that the clause regarding the reservation of visa quotas for "Targeted Employment Areas" and "rural areas" will be retained in the final EB-5 bill.
At the same time, USCIS has also strengthened the reform of EB-5 administrative rules. In January 2017, the U.S. Department of Homeland Security (DHS) officially announced the administrative reform plan for the "EB-5 Regional Center Program"; in June 2017, USCIS announced an update to the "Policy Manual"; in December 2017, USCIS advanced the "final action date" for the EB-5 administrative reform plan from April 2018 to February 2018.
Under the pressure of the extremely stringent USCIS administrative reform plan, Congress may accelerate the reform process of the EB-5 bill. The reform of the EB-5 Regional Center Program is nearing its end, and the introduction of a new bill is just around the corner!
6. Canada launches a million new immigrant plan, investment immigration welcomes spring
On November 1, local time in Canada, the highly anticipated Canadian immigration quota plan was finally announced. The immigration bureau announced the immigration quota plan for the next three years at once, which are: 310,000 in 2018, 330,000 in 2019, and 340,000 in 2020, showing an increasing trend in immigration quotas each year. Once this Canadian quota plan to accept nearly one million new immigrants over three years was released, it caused a sensation in the entire immigration industry. It is hailed as a "historic immigration quota plan" and will lead Canadian immigration into a comprehensive golden age.
7. The highly anticipated Canadian C-6 bill takes effect, shortening the time for immigration naturalization
In June 2017, the Canadian Citizenship Act C-6 amendment bill, which was highly anticipated by the industry and investors, was finally passed by the Senate after many twists and turns, and officially took effect on October 11, 2017. The main contents of the C-6 bill include: shortening the time for naturalization; minor immigrants can apply for naturalization on their own; lowering language requirements; reducing tax filing time; canceling the intent to reside in Canada; the government has no right to cancel a citizen's Canadian citizenship unless the application process is fraudulent, etc. This means that Canada's immigration naturalization policy has been relaxed, and in the future, it will be simpler and faster for new immigrants, international students, etc., to apply for Canadian citizenship.
8. The European refugee crisis eases, and investment immigration heats up significantly
In 2017, the sails of Europe were once again in a favorable wind. As the number of refugees landing in Europe in 2017 dropped significantly, the European refugee crisis was eased, and coupled with the steady recovery of the European economy, Europe once again welcomed valuable development opportunities. This allowed many investors to see the huge investment potential of Europe, prompting the European investment immigration market to heat up significantly. Immigration to European countries such as Greece, Portugal, Cyprus, Spain, Ireland, and Malta is highly sought after, setting off a European immigration whirlwind.
9. The first year of CRS begins, prompting the popularity of Commonwealth passport programs
In 2017, CRS entered the practical operation stage, and the first year of CRS began, prompting Commonwealth country passport programs such as Saint Lucia, Dominica, Saint Kitts and Nevis, Antigua and Barbuda, and Vanuatu, which have the function of tax exemption on global income, to be highly sought after by high-net-worth individuals. At the same time, heads of government of many Commonwealth countries have personally come to China many times to promote immigration projects. For example, the Prime Minister of Saint Lucia and the Prime Minister of Dominica have met with senior executives of Chinese immigration agencies many times, and attended the Prime Minister and Investor Tea Meeting held by Chinese immigration agencies, which promoted the popularity of Commonwealth passport programs. Against the backdrop of CRS global taxation, Commonwealth passport programs have become one of the most popular passport programs due to their many advantages such as ultra-low costs (starting from only 100,000 USD), simple application procedures, fast approval, reasonable asset planning, pure British-style education, global mobility, and being a resort and retirement paradise.
10. Hurricane disaster in the Caribbean region ignites a wave of price cuts for Commonwealth passport programs
In the second half of 2017, affected by the hurricane disaster in the Caribbean region, Commonwealth countries such as Saint Kitts and Nevis, Dominica, and Antigua and Barbuda successively launched new policies for limited-time price cuts for investment citizenship programs: Saint Kitts and Nevis established a new "Hurricane Relief Fund" investment citizenship program, starting from 150,000 USD to quickly obtain a Commonwealth passport; Dominica's investment citizenship program reduced government application fees and relaxed age restrictions for accompanying dependents; the threshold for Antigua and Barbuda's donation citizenship program was reduced by 50%. The limited-time special offers for multiple Commonwealth country passport programs set off by a hurricane triggered panic buying by global investors, and "making a charity donation can quickly obtain a Commonwealth passport" has become a focus of attention both inside and outside the industry.
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