- EB-5 Industry Updates

US Embassies and Consulates Beginning Reopening

By August 20, 2020June 15th, 2021No Comments

A recent tweet from the US State Department announced that US Embassies and Consulates are beginning a phased reopening of routine visa services.

The tweet, from Monday, July 13, said that “US embassies and consulates are beginning the phased resumption of routine visa services. The dates for each embassy or consulate will depend on local conditions. We are unable to provide details for each location. Please monitor the embassy or consulate website for updates”.

While each embassy will begin processing according to their own timeline, updates regarding reopening will be posted on their visitors’ website.

In response to the coronavirus pandemic, a Presidential Proclamation recently suspended and limited entry on multiple visa categories. The EB-5 Investor Program was not affected by these changes, but as a result of the overall limitations, lines at US consulates and embassies may be shorter than in previous times.

The resumption of routine visa service presents an exciting opportunity for the EB-5 Program. A combination of COVID-19, the increase in the minimum investment amount, and slow visa wait times resulted in a significant drop in EB-5 petitions filed in the past quarter, making now an optimal time to file.

Additionally, the EB-5 Investor Program will provide desperately needed funds as the US economy begins recovering from the effects of COVID-19. Projects that previously did not qualify under the EB-5 targeted employment area regulations may now qualify due to the impact of COVID-19 in major cities like New York City and Los Angeles.

With a low number of petitions filed at the Immigrant Investor Program Office and a high need for an influx of investments, the EB-5 Investor Program is an ideal opportunity for individuals and their families looking to obtain green cards.

If you are a foreign national looking to quickly obtain green cards for you and your family, the EB-5 Investor Program may be a great fit for you. Please reach out to us at info@ctp-fl.com for more information.