Comment: EB5 Coronavirus Update

  • Coronavirus shuts down EB5 industry: Dramatic developments in the coronavirus pandemic have spurred dramatic action in the EB5 industry within the last 48 hours. This week, most EB5 issuers have recalled their team members from across the globe (for liability reasons), the EB5 industry is effectively shut down. Events planned in March have been cancelled or postponed, some have launched “virtual conferences” in the meanwhile, most events are scheduled to restart after Memorial Day.
  • Plan A: The EB5 industry is presuming that it will be business as usual come June. Either explicitly or implicitly, everyone is assuming that coronavirus will be under control based on governmental action or summer sunshine (neither of which are certain to work). Even if coronavirus is no longer a factor by June, there will be a flood of projects seeking investments at that time, and no one knows what the state of demand will be after a months-long hiatus in supply of EB5 securities.
  • Plan B: However, there is the possibility that the coronavirus will not be under control by June, and for that possibility, the EB5 industry doesn't have a Plan B at the moment. Here is what a Plan B would have to take account of: From the coronavirus statistics, it appears that the pandemic lies somewhere between 1957 and 1918 Flu pandemics, in terms of scale. Confucian countries like South Korea & China have been effective in controlling the epidemic, but Western countries like Italy have been unsuccessful in controlling it. France seems to be following the pattern of Italy and the US appears to be not far behind France, as of this writing. We could possibly have tens of thousands of deaths in the US, based on 1957 and 1918 precedents (Chancellor Merkel of Germany has warned that more than half of the population of Germany will contract the virus). There is no escaping the coronavirus by holing up in a cave under a Plan B scenario - so here's hoping that Plan A works.

Contact us for a conversation on what we can do for you in this brave new EB5 world by emailing us at webmaster@ilw.com , calling us at 212-545-0818 or online.

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