New York, NY – CanAm Enterprises, a leading full-service financial firm specializing in immigration-linked investment funds, is pleased to announce that Congress reinstated the EB-5 Immigrant Investor Visa Program on March 11th, 2022.
Backed by Sen. Patrick Leahy (D-VT) and Chuck Grassley (R-IA) with bipartisan support, the new EB-5 Reform and Integrity Act of 2022 will add greater protections against fraud and national security weaknesses within the program, promote program integrity and improve oversight of the program. The new legislation also raises the minimum investment amount from $500,000 to $800,000 USD, modifies the TEA definition and closes the investment gap between TEA and non-TEA projects, and importantly, reauthorizes the EB-5 Regional Center Program until 2027.
“We welcome the long-term reauthorization of the EB-5 Program and everything that comes with it. Having more predictability and clarity for all stakeholders, especially critical provisions such as grandfathering of investors who have been waiting years for their visas, will ensure that the EB-5 Program can continue to do good for this country. The integrity measures, which CanAm has long supported, will allow for more transparency. Together, these measures are expected to provide better protection to our investors, which is our top priority” said Tom Rosenfeld, President and CEO of CanAm. “For 35 years, CanAm has sought to promote program integrity in the immigration investment industry. We are very proud of the example we set by repaying more than 4,000 investor-families in full, totaling more than $2 billion in EB-5 capital repaid. CanAm’s track record not only reinforces our leadership position in the industry but reaffirms our strong commitment to making decisions that first consider the best interests of our clients,” added Rosenfeld.
“The EB-5 visa category has been one of the most popular investor visa programs availed by immigrants worldwide. We are glad to welcome the reinstatement of the Program,” said Peter Calabrese, CEO of CanAm Investor Services. “As a FINRA-registered broker-dealer specializing in immigration-linked investments, we advise prospective investors to conduct thorough due diligence, select a reputable Regional Center that has a verifiable track record and work with an experienced immigration attorney,” added Calabrese.