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July 1, 2021

EB-5 program may have just ended

  • The program has been repeatedly tainted by scandal and authorities have sought to increase oversight of the foreign investors.
    • By BEN FOX
    Associated Press

    WASHINGTON — A program that has allowed wealthy foreign investors to obtain U.S. residency, and has long been the subject of complaints that it amounts to the wholesale selling of American citizenship, may be coming to a sputtering end.

    Congressional authorization for a key part of the immigrant investor program was set to expire Wednesday with dim prospects for renewal following the failure of a Senate bill that would have addressed long-standing concerns about inadequate regulation.


     
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