20 UGLOBAL IMMIGRATION MAGAZINE
an important critical event such as the COVID-19 pandemic . I expect that there will be pent-up demand for residency by investment that will become more active in the latter half of 2021 and through 2022 .
ADAPT : How did you adapt your business or ways of working due to COVID ? Do you think some of those changes are here to stay ? Donoso & Partners adapted by embracing technology early-on during the COVID-19 pandemic . We made sure to use our website and social media to update clients and potential clients on events relating to U . S . and Canadian visa issues . Legal changes in travel restrictions and visa issuance by consulates have been changing so rapidly in relation to COVID-19 conditions that people naturally sought out to Donoso & Partners for accurate information . We also embraced technology by using Zoom and other communications systems for meeting with clients and joining together our whole team of lawyers and professionals who were social distancing at home . Our efforts have been very successful , and we will continue to use platforms such as webinars and social media to engage in outreach .
TRENDS : What are some trends you are seeing in the global RCBI industry now ? Investors are actively seeking a second residency or passport because of challenges in their home countries that include political instability and the ripple effects of the COVID-19 pandemic . Investors are also focusing on their children by pursuing residency by investment earlier than ever in the life of their children , so that their kids may settle at an earlier age in their destination country , whether that be the United States or Canada .
IGNACIO DONOSO
Donoso & Partners LLC
United States
IMPACT : How have you seen that the pandemic has impacted the global RCBI industry ? There have been two trends , which have been at odds with each other during the pandemic . The first trend is the desire for potential investors to secure residency in countries that have solid health care systems and offer relative political and economic stability in comparison to their home countries . The second trend is the tendency for potential investors to be hesitant to take important decisions about their lives during
LOCAL : How was your country ’ s local investment program impacted ? Did any regulations or criteria change in the program because of COVID ? The COVID-19 pandemic reduced the number of investment projects offered in the U . S . EB-5 immigrant investor program and caused some projects currently under construction to experience delays . In Canada , the federal government decided to suspend the very popular Owner-Operator Labour Market Impact Assessment , in part due to the challenges of the COVID-19 pandemic in opening and operating small businesses in Canada . At the same time , Provincial Nominee Programs for entrepreneurs , such as the Ontario Immigrant Nominee Programme , adapted by offering virtual interviews rather than in-person visits to the province .
FUTURE : Looking ahead , what do you anticipate happening this year and in the near future in this global industry ? Residency or citizenship by investment is an excellent tool for spurring foreign investment into destination countries
during difficult economic times . I expect that such programs will remain popular and continue to become more widely used . At the same time , the U . S . EB-5 immigrant investor program appears ripe for updated regulations and I would expect to see improvements to the program implemented during 2021 and 2022 . I expect that these improvements will likely cause a reduction in rather long processing times for initial approval of visa petitions by USCIS .