EB-5 Re-Authorization Without Increase in Quota “Would Kill the Program” Says Regional Center CEO

CEO and Chief Counsel of Manhattan Regional Center, Winnie Ng, says she was relieved the proposed EB-5 legislation ultimately did not gain inclusion in the omnibus bill on March 26th and that she’s optimistic that legislative changes will eventually solve the retrogression issues haunting Chinese and Vietnamese applicants.

During an interview with Investment Migration Insider at the Investment Immigration Summit in Ho Chi Minh City yesterday, Ng said that the proposal – which would have granted long-term authorization for the program without raising the current 10,000 applicant quota (individuals, rather than applications) – would “have done nothing to reduce the petition backlog” and would have led to applicants from retrogressing countries (China and Vietnam) losing interest which, in the end, “would kill the program”.

Read also: EB-5 Industry “Extremely Disappointed” as Bid for Re-Authorization Falls Flat

On the topic of Vietnamese retrogression, Ng maintained a sanguine position, pointing out another 700 visas will be available to Vietnamese nationals in October.

Watch the full five-minute interview below.

No publication has better access to key figures in the RCbI-world. Our readers are the best-informed professionals in the investment migration industry.
Get the most important stories delivered. Once a week, we’ll send you a curated newsletter with the most important stories.

Want updates every day?
Be the first in your company to know about breaking investment migration news

Follow Investment Migration Insider on your platform of choice:
mm

Editor

Christian Henrik Nesheim is the founder and editor of Investment Migration Insider. He welcomes readers to connect on Linkedin.

Show Buttons
Hide Buttons