HONG KONG SAR – 10 February 2021 – During the first week of his presidency, President Biden has executed six immigration-related executive orders, including rescinding the Muslim ban, restoring the Deferred Action for Childhood Arrivals (DACA) program and halting construction of a U.S.-Mexico border wall. This marks a return to policy where immigrants are welcomed and valued for their contributions to the economy and society.
Even though the Biden administration’s proposed immigration reform bill, The U.S. Citizenship Act of 2021, doesn’t mention EB-5 specifically, the program and EB-5 investors do stand to benefit from some of the measures in the proposed bill, which favor economic growth and employment-based visa categories including EB-5. These measures aim to clear employment-based visa backlogs, recapture unused visas, and reduce lengthy wait/processing times.
Over the past 20 years, the EB-5 program has been a very popular pathway among Chinese communities to obtain green cards by investing in the U.S. The popularity has created a more than 10-year wait time for mainland-born investors. Hongkongers, on the other hand, still enjoy a separate immigration line from the mainland investor without the long wait, making EB-5 an attractive option.
With a minimum investment of US$900,000, the EB-5 program appeals to high net-worth individuals aiming to obtain permanent resident status in the U.S. While the Trump administration cracked down on immigration, experts anticipate positive impact on the program with the new Biden administration in charge and President Biden has already pledged to undo many of Trump’s anti-immigration policies.
The EB-5 visa program grants investors the opportunity to live and work anywhere in the U.S. and allows investors to return to their country of origin for personal or business purposes if they maintain U.S. residency. For families looking to educate their children in the U.S., there are even admission advantages and reduced tuition costs available. “CanAm has always applied the investor-first mindset when managing our investors’ immigration and investment capital,” said Mr. Tom Rosenfeld, President and CEO of CanAm Enterprises. “We look forward to seeing the Biden administration bringing more positive changes to the program, and CanAm will continue to provide qualifying projects and top-notch services to our investors globally.”
CanAm has 30 years of experience exclusively promoting and administering immigration-linked investment funds with a proven track record in assisting investors achieve their immigration and investment goals. Having raised more than US $3 billion of EB-5 capital for 60 projects, CanAm leads the EB-5 industry in capital repaid to investors. As of December 2020, more than $1.75 billion in EB-5 capital from 45 completed CanAm projects has been successfully repaid to 3,500 investors — representing their full loan amounts. Over 2,300 investor families have already achieved their permanent resident status in the U.S. through CanAm’s EB-5 projects with 7,200+ permanent green card issued to CanAm’s Investors and their families.
CanAm believes that trust is born out of transparency and provides a fully audited immigration and investment track record to our partners and investors. It is one of the first EB-5 Regional Centers to establish its own FINRA-registered Broker-Dealer to ensure full regulatory compliance. A third-party escrow bank is also set up for each investment project to safeguard the investment funds. Headquartered in Manhattan, New York, CanAm has local representatives in Beijing, Shanghai, New Delhi, Ho Chi Minh City, Singapore, Hong Kong and Dubai.
“Despite the turmoil in the previous years, the U.S. remains one of the top migration destinations for Hongkongers. Key appealing factors are the comparable salary packages, living standard and quality of education. Yet it is crucial to choose a credible Regional Center with sound repayment track record to partner with, and it is exactly why we choose to represent CanAm for our local clients,” said Belinda Chan, Managing Partner of CCGi, local partner of Global Migration Solutions and CanAm Enterprises in Hong Kong.
CanAm helps Hongkongers achieve their path to citizenship by offering a “full service” support and management role in going through EB-5’s six step process, with the track record, financial infrastructure and legal expertise to offer full regulatory compliance and investment security. CanAm is uniquely positioned as a bridge between qualifying projects and accredited investors, and with a responsibility to both, investors trust that CanAm is also invested in the success of every investment. The process will take approximately 24 months for a conditional Green Card, and another 21 to 45 months for a permanent green card.
About CanAm Enterprises
With three decades of experience promoting immigration-linked investments in the United States and Canada, CanAm has a long and established track record. Basing its business on a reputation of credibility and trust, CanAm has financed 60 projects and raised nearly $3 billion in EB-5 investments. More than $1.4 billion in EB-5 capital from over 2,800 families has been repaid by CanAm’s 42 projects to date. CanAm exclusively operates seven USCIS-designated regional centers that are in the city of Philadelphia, the Commonwealth of Pennsylvania, the metropolitan regions of New York & New Jersey, the states of California, Hawaii, Florida, and Texas. For more information, please visit www.CanAmenterprises.com.