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.
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
Jun. 26, 2017,
by Jasper Craven
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?
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.
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