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Indians jittery over EB5 programme as extension hangs on US government move

The EB5 immigrant investor program will lapse on June 30, 2021, if the US Congress does not extend it.

In the past, the EB5 program was attached to a regular US government spending bill and would be renewed each time the bill was passed. But in 2020, former US President Donald Trump decoupled the EB5 program from this spending bill, leaving the program hanging in the wind.

Congress must now pass specific new legislation to extend it. Several thousand Indian investors are waiting anxiously, because they have already invested in the program but have not yet received their conditional green cards. A bill with bipartisan support is pending in Congress; as of early February 2021, it is expected to come up for approval before the EB5 program lapses on June 30.

See the original article here.

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