30 Jun EB-5 Investors Will NOT be affected by Trump’s Travel Ban
The Supreme Court’s recent decision relating to Trump’s 90 day travel ban will not affect EB-5 investors. The Supreme Court stated that the ban will only apply to the entry of travelers from six predominantly Muslim countries: Iran, Libya, Somalia, Sudan, Syria and Yemen without bona fide relationships in the United States. EB-5 investors from these countries WILL be qualified to enter the US as the visa is granted under the employment based category (EB)
The Department of State cable also provided further information on how individuals must establish a bona fide relationship to a U.S. entity. According to the cable, individuals must establish that their relationship with a relevant U.S. is “formal, documented, and formed in the ordinary course, rather than for the purpose of evading the [travel ban].” EB-5 investors invest in a US business and sign a host of legal documents, including operating agreements, subscription agreements, etc. These documents will all be counted as establishing a bona fide relationship.
EB-5 Investors are issued with immigrant visas, they become legal permanent residents on arrival in the United States and are issued a green card soon after. In 2015, green cards were issued to 31,258 people from these six countries. In general, about half of recent new legal permanent residents have been new arrivals to the country, and the other half have had their status adjusted after living in the United States.