The US government will shut down on October 1 if Congress fails to pass its yearly budget by September 30. The potential for a shutdown may appear drastic, but it will not affect the EB-5 Immigrant Investor Visa program because USCIS (which runs the program) is independent of federal funding. Since enacting the EB-5 Reform and Integrity Act in 2022, the EB-5 program has relied on filing fees from investors instead. According to John Baker, chief marketing officer of LCR Capital Partners, since the passing of the Act, USCIS has been able to process EB-5 applications through regional centers associated with the EB-5 program. He adds that the EB-5 program will run as usual unless the shutdown is exceptionally long, with little effect from the government impasse. He notes that processing delays and other administrative issues are a much greater concern, suggesting governmental dysfunction and risking the reputation of the United States among the many investors who want to move there.
Read the full article here.
