The results of the U.S. election are nearly settled, and the White House has officially entered the transition period. President-elect Biden has begun preparations to move into the White House. The various policies proposed by Biden during his campaign are once again receiving widespread attention. Among these, immigration policy is undoubtedly the most closely watched by the EB-5 industry. In Biden's campaign platform, immigration issues occupy a full 22 pages, highlighting their significance. Biden's goal is to "completely reverse the changes made to the U.S. immigration environment during the four years of the Trump administration and restore the U.S. immigration environment to the Obama era."
In response, Biden has promised to launch a series of immigration-related reforms within his first 100 days in office. These include: supporting family-based immigration, where spouses and children of green card holders will be considered immediate relatives and will not be subject to caps; repealing the "Muslim ban"; restoring the deferred "Deferred Action for Childhood Arrivals (DACA)" program; and ensuring that "Dreamers" are eligible for federal student aid, among others. Among these, eliminating per-country limits for employment-based green cards and increasing the number of employment-based visas based on the macroeconomic environment will help alleviate or even completely resolve the visa backlog for EB-5 investors from mainland China. These reform plans are worthy of attention and anticipation from the EB-5 industry.
At the same time, Biden stated that he will work with Congress to advance the modernization of the U.S. immigration system to ensure that the United States remains open and welcoming to people from all over the world.
Recently, Biden has announced some cabinet nominations. What has drawn the attention of the EB-5 investment immigration industry is the nomination of former Deputy Secretary of the Department of Homeland Security (DHS) Alejandro Mayorkas as Secretary of Homeland Security.
Alejandro Mayorkas is well-known to everyone as an "old friend" of the EB-5 industry. He served as the Director of U.S. Citizenship and Immigration Services (USCIS) during the Obama administration from 2009 to 2013 and was promoted to Deputy Secretary of Homeland Security in 2016. During his tenure, USCIS made significant progress in the management of EB-5, including relocating the EB-5 processing center to Washington, D.C., to accelerate processing.
The nomination of Alejandro Mayorkas as Secretary of Homeland Security to lead the future of U.S. immigration policy is widely interpreted by the EB-5 industry as a "combination punch" by Biden to implement his immigration reform policies. We have reason to expect that, under the leadership of Alejandro Mayorkas, the EB-5 investment immigration program may usher in a "springtime."
Multiple levels indicate that U.S. immigration policy in the Biden era may become more rational and open, and will be more moderate and friendly to those intending to immigrate to the United States. The British newspaper Daily Mail reported that Biden will be officially sworn in next January. Immediately after taking office, he will sign a series of executive orders, and at the top of his list is rejecting Trump's immigration-related policies. As for the specific implementation of these policies later on, let us wait and see. Worldway Group will also continue to monitor the latest developments and share them with you as soon as possible.
Currently, USCIS continues to receive and process immigration applications as usual. You should seize the opportunity to lock in high-quality projects based on your own situation: "Prepare early, apply early, join the queue early, and benefit early!"
For those intending to immigrate to the United States, the Yellowstone Club Phase II project, which is highly favored by investors, is an excellent choice to help investors successfully immigrate to the United States. As one of the few EB-5 projects on the market that complies with the new regulations for the $900,000 low-investment threshold, it combines many outstanding advantages, such as having already received dual approval from USCIS, having already exceeded job creation requirements, offering repayment secured by assets worth five times the investment, and maintaining transparent fund supervision, thereby greatly protecting the interests of investors.
Ten Advantages of the Yellowstone Club Phase II EB-5 Project
1. Rural area EB-5 project, eligible for the $900,000 low-investment threshold
2. Project has already received both I-526 exemplar and actual case approval
3. Extremely high job creation multiplier; construction has started, and required jobs have been completed in advance
4. Low EB-5 capital ratio, high equity investment ratio
5. High-value collateral, with collateral value up to 5 times the EB-5 loan amount
6. Strong brand appeal of the Yellowstone Club, with over 1/2 of the apartments pre-sold
7. Branded, operated, and managed by the renowned luxury hotel brand Montage
8. Developed and constructed by the experienced and powerful developer CrossHarbor
9. Replication of the successful experience of the Yellowstone Club Phase I EB-5 project
10. Professional EB-5 team oversight & the 3rd successful collaboration between Worldway and EB-5
For more details, please consult the Worldway service hotline. Mainland China: 400-138-2929; Hong Kong, China: (852) 2802 8798
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