President Obama’s Statements on EB-5 Could Signal Expansion of Program, States Immigration Expert

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President Obama’s announcement of his intention to expand the EB-5 Visa Program during his speech on Comprehensive Immigration Reform in Las Vegas on Tuesday could signal extension of program, according to immigration attorney Laura Reiff.

EB5Investors.com

Today President Obama announced his principles for Comprehensive Immigration Reform during a speech in Las Vegas, Nevada. As part of his plan to overhaul the current broken immigration system, he noted the need to make permanent the EB-5 Regional Center Pilot Program. Specifically, the President's principles state that he will work to expand opportunities for investor visas and U.S. economic development, according to immigration attorney Laura Reiff. President Obama's proposal will permanently reauthorize the EB-5 regional center program; it will provide incentives for visa applicants that investment in programs that support national priorities, these include economic development in economically depressed regions and rural areas add new measures to the program to combat fraud and national security threats; collect data and information on the economic impact of the program; and includes and introduced a brand new pilot program for state and local government officials to promote economic development, according to Attorney Reiff.

"We are working with the Administration and the Congress to make the EB-5 Regional Center Program permanent, in addition to making important legislative changes to help the program become more business friendly and efficient," stated Reiff.

Laura Reiff is an immigration attorney for Greenberg Traurig, an international, full-service law firm with offices across the U.S., Middle East, Asia, and Europe, and a member of EB5Investors.com.. She is the Co-Chair of the Business Immigration and Compliance Group and devotes much of her practice to matters involving the EB-5 Visa Program.

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Laura Foote Reiff
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