Senatorial Letter on the EB-5 Program

Four Senators wrote an EB5 Letter to Secretary Kelly .

The thrust of the letter is:

The issue of raising minimum Investment levels alone will likely undermine the  program’s functionality.

The EB-5 Regional Center Program is not perfect and is  in need of reform.

CRE is of the opinion that the most significant criticisms associated with the  EB-5 program do not emanate from the subjects addressed  in the  Notice of Proposed Rulemaking, which in large part address  minimum investment levels, but instead with  the management of the program by the  regional centers, the topic of the Advanced Notice of Proposed Rulemaking.

A Mini Treatise on the Strengths and Weaknesses of the EB-5 Program

Editor’s Note: The following article contains a wide ranging  review of the EB-5 program. Students and critics  of the program must note that if there is an imbalance in investment levels between rural and urban areas that in itself is not a fraudulent action. In terms of improving the operation of the regional centers to combat fraud that argues for a combination of the USCIS NPRM with its ANPRM with the end result that USCIS should combine both documents and propose them again as one document instead of separate regulatory actions.

 Special report: EB-5 reforms face major hurdles

The Proposed USCIS Regulations Do Not Address Fraud in EB-5 Program

Any and all federal programs are subject to fraudulent actions by small groups of bad actors.  It is for this reason that each and every major federal program is accompanied by the delegation of enforcement authorities to the relevant regulator.

USCIS has spent considerable time on restructuring the USCIS program through  a series of proposed rulemakings instead of focusing  on enforcement.  Even if the totality of the USCIS  proposed structural changes were to become law they  would have virtually no impact on eliminating fraud  in the  USCIS program. What is the rationale for making structural changes through new regulations a higher priority than enforcing existing regulations?

USCIS Needs to Decrease Processing Time for EB-5 Visa’s

Editor’s Note:  USCIS has been spending considerable time on restructuring the  EB-5  program; instead what is needed is making the existing program more efficient  by streamlining the application process for a visa.  Refocusing USCIS’s priorities  will allow the EB-5 program to fulfill its statutory objective of  creating  new jobs.

By Joseph A. Mann Jr. | June 15, 2017

EB-5 financing can provide up to 35% of investment stack, but lining up investors may take years: panel

Fort Lauderdale has been a “tepid” market for EB-5 investors, while investment in Miami has been strong

Real estate experts rally behind proposed EB-5 legislation

Editor’s Note:  The author concludes:

Either Congress will pass a new EB-5 law, which will be the best news,” said H. Ronald Klasko. “Or the U.S. Citizenship and Immigration Service will pass regulation that will have a significant impact on the EB-5 program.

If USCIS promulgates a rule anywhere close to the  one it proposed, it will most certainly “have a significant impact on the EB-5 program” because it could paralyze the program.