It’s been 24 years since Congress introduced the EB-5 Visa Program, and it’s seen its share of ups and downs. Last year, lawmakers raised concerns over the transparency and reliability of the program, and three agencies commissioned reports about its processes.

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Research groups would soon realize that evaluating the success of this program would be much more difficult than expected. This is because there is a lack of yearly data available on EB-5 visas.

It seems that the United States Citizenship and Immigration Services (USCIS) was stretched thin, regulating and making changes to the program, and lacked any spare resources to track and compile data.

One Report Claims That The EB-5 Program Is An Overwhelming Success

Fox News reports that the Association to Invest in the USA (IIUSA) recently completed its report. They focused on the 2012 fiscal year and attempted to gauge whether or not the program was operating as promised.

Contrary to conjectures by critics, the IIUSA discovered that the program was twice as effective as it was in 2011, creating more than 42,000 jobs in the United States and contributing more than $3.39 billion to the economy. Furthermore, the report demonstrated that these jobs were created without costing U.S. taxpayers a cent.

Critics still point out that there have been some cases of fraud, and the program isn’t as transparent as they would like. For these reasons, the average immigrant investor should be wary when choosing an investment and contact an immigration attorney before signing any paperwork.

At the O’Brien Law Group, we offer the benefit of our 15 years of immigration law experience to our clients to ensure that their investment is made wisely and gives them the best chance of securing a green card in Louisville. To speak with an experienced attorney about your investment, Call Us At 502-400-7890 Today!

Hopefully, The Report Will Alleviate Doubts About The Program’s Efficacy

VT Digger reports that a number of federal officials question the effectiveness of the program. In particular, the Department of Homeland Security Inspector General (IG) takes issue with the low amount of data that the USCIS collects on the program, stating that an in-depth analysis by the USCIS would be impossible given the department’s current level of authority over the program.

The IG’s concerns are warranted. Although the IIUSA described the benefits of the program, the extent of fraudulent investment opportunities remains unknown. Investors who don’t conduct adequate research or hire immigration attorneys could find themselves down $500,000 and without a green card.

To remedy the situation, the federal government must either expand the USCIS’s scope and authority over the program or place another department in charge of gathering and interpreting data. Officials must have a clearer picture of the problem before they can devise an appropriate solution.

In the meantime, if you are planning to make an EB-5 investment, it’s important to contact us as soon as possible. We can thoroughly vet the investment options to make sure you won’t lose your investment to fraud. To learn more about our EB-5 service, Call Us At 502-400-7890 Today!

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