Lawmakers Warn Guidance on Investor Visa Restart Misses Mark (1)

The Biden administration’s stance on approval of investor visa businesses doesn’t line up with the requirements spelled out in a reauthorization law Congress passed earlier this year, key lawmakers wrote in a letter this week.

Congress included legislation to restart the EB-5 regional center program in a $1.5 trillion fiscal year 2022 government spending measure in March, more than eight months after the program’s authorization had lapsed.

The regional center program allows investors to qualify for green cards by pooling funds in large business enterprises—typically real estate and infrastructure projects. Tens of thousands of applications have been pending since the ...