The real estate industry has benefited greatly from the EB-5 Immigrant Investor Program, which grants U.S. citizenship to foreigners who invest in commercial enterprises, often through real estate development. This program, which has attracted foreign capital by requiring a $1.05 million investment (or $800,000 in Targeted Employment Areas) that creates 10 jobs, is now at risk as President Trump plans to replace it with a new “Golden Visa.”
The Golden Visa would shift from investment to direct government payments, offering tax advantages such as exemptions on foreign income. For real estate, the loss of EB-5 funding could be a major blow, as many developers rely on it to reduce capital costs. The New York City Regional Center, for instance, has raised over $1.5 billion for real estate projects through the EB-5 program.
While details of the Golden Visa remain unclear, it could lead to even greater challenges for real estate developers who are already struggling with high debt costs. Though proponents hope the Golden Visa will stimulate growth, its $5 million price tag could reduce participation, leaving developers to explore other funding sources.
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