On July 24, 2019, the Department of Homeland Security published the final rule for The EB-5 Immigrant Investor Program Modernization. The final rule for The EB-5 Immigrant Investor Program Modernization went into effect on November 21, 2019.
However, this new rule still leaves some uncertainty and risks, particularly with Targeted Employment Area (TEA) designations. TEA designations are important because a project that is designated as being in a TEA can accept EB-5 investors at the lower investment amount of $900,000.
On November 21, 2019, new regulations went into effect, dramatically altering the EB-5 Immigrant Investor Program. Here’s what you need to know:
Attorney Phuong Le, Partner at David Hirson & Partners, LLP (DHP) recently returned from educating Vietnamese nationals about U.S. immigration strategies and standards. Attorney Le is recognized in Vietnam as a trusted source for U.S. immigration law and innovative immigration strategies.
On October 5, 2019, Attorney Le presented at the Khai Phu Vietnam Investment & Migration Summit held at Le Meridien Saigon. Attorney Le discussed and answered questions about EB-5, L-1, and E-2 visas. These visas are all popular and valuable pathways for Vietnamese families to successfully immigrate to the U.S. Attorney Le talked about how upcoming major changes to the EB-5 program make now the best time to invest and apply for an EB-5 visa.
After November 20, 2019, the EB-5 program changes, including increasing the minimum investment amount. DHP’s experienced attorneys can help you understand all of the changes to the EB-5 program as well as other U.S. visa possibilities.
While Attorney Le leads DHP’s dedicated Vietnam practice, DHP also has other teams of immigration professionals ready to assist individuals and families from all over the world with their U.S. immigration plans.
Contact us today to schedule a strategy session and find out your best options for U.S. business and family immigration.
This post addresses 3 ideas that are currently being discussed in the EB-5 world:
- Will President Trump do something to “save” the EB-5 program?
- Will the new EB-5 regulations be repealed by Congress?
- Will Congress finally enact new EB-5 legislation?
These are all good questions to consider, but the simple answer to all of them is: No. Let’s take a look at each question in a little more detail:
1. Will President Trump do something to “save” the EB-5 program?
Many people look at Trump’s interests and track record with real estate development and believe that he understands and supports real estate deals across the U.S. Trump is not in a position to “save” the EB-5 program as President. Not even his use of executive orders can change the Administrative Procedure Act (APA). The APA is the government’s rules on how to change its own rules. The APA is a set process that takes time in order for any change to be made.
2. Will the new EB-5 regulations be repealed by Congress?
Senator Rand Paul from Kentucky has been trying to get Congress to use the Congressional Review Act (CRA) to overturn or stop the new EB-5 regulations. While there have been many attempts to use the CRA since 1996, there have only been 3 times when the CRA was successfully used to overturn new government regulations. 3 CRA overturns in 23 years is not a very high percentage of overturns.
3. Will Congress finally enact new EB-5 legislation?
While the EB-5 industry continues its efforts to lobby Congress for new EB-5 legislation, there is no real result in sight yet from these efforts. Everyone can see how divided the U.S. Congress is, especially when it comes to immigration issues, including EB-5. With no consensus in Congress, there can be no legislative changes for the EB-5 program either.
The conclusion from all of this is:
- Be prepared for a Continuing Resolution (CR) to most likely be passed by Congress which allows the EB-5 Regional Center Program to continue unchanged from September 30, 2019 to November 21, 2019; and
- Be prepared for Congress to pass another CR in order for the EB-5 Regional Center program to continue after November 21, 2019.
- Note: Direct EB-5 investments and petitions can continue without needing any CR from Congress. Direct EB-5 investments will have to follow the new EB-5 regulations after November 21, 2019 though.
- Be prepared for the new EB-5 regulations which will come into effect on November 21, 2019.
Contact us with your questions and to speak with one of our immigration attorneys to discuss the best immigration pathway for you and your family.
Earlier this summer, David Hirson & Partners, LLP (“DHP”) successfully helped an EB-5 investor client’s entire family of nine obtain travel ban waivers. These waivers were required in order for the family to be issued immigrant visas and enter the U.S.
Our client received approval of their EB-5 petition back in 2017 and attended their consular interview in Abu Dhabi in 2018. During their interview, the entire family was asked to complete Form DS-5535 (except the minor children under 14). This is an enhanced vetting form that requires the disclosure of the following for each applicant:
|All:||Past 15 years of:||Past 5 years of:|
|Passport numbers & country of issuance||Travel history||Telephone numbers|
|Names birthdates of immediate family members||Home addresses||Social media usernames/handles|
|Employment History||Email addresses|
After completing the requested forms, this family’s case remained “pending in administrative processing” for a few months, at which point DHP was retained to file a travel ban waiver packet for the family. Our firm compiled and filed the travel ban waiver packet based upon the family’s and investment’s given circumstances.
A travel ban waiver packet is evaluated based on three factors:
(1) entry is of national interest to US (here the EB-5 program);
(2) denying entry would cause undue hardship (here to the family, petitioner, and project); and
(3) entry would not pose a threat to national security or public safety.
Less than six months after DHP submitted the travel ban waiver packet, the consulate emailed the client for continued processing, asking for updated medical exams and passports, along with new DS-260 submissions. The applicants were also required to come to the embassy to retake the oath. The client and family members completed everything that was asked of them and they were all approved to enter the U.S.
All DHP attorneys and staff share a common goal of helping immigrants lawfully navigate the U.S. immigration system. Contact our office to schedule a consultation to see how we can help you and your family’s immigration dreams.
- 优先日期保留的新规定： 如果投资申请人以后必须提交新的I-526申请，他们将能够保留其先前被批准的I-526申请的优先日期。这种灵活性可以保护投资人已经获得了1-526申请的批准，但是由于他们无法控制的情况（例如区域中心终止）可能会使其资格收到损害的情况。这种灵活性还允许在提交投资计划中的一些创意的转换，而不会危及到优先日期。不会将主申请人或投资人的优先日期赠送或者转移给衍生受益人。
- I-829灵活性： 如果投资人自己的I-829申请中没有包含其衍生家庭成员，那么衍生家庭成员必须在I-829阶段提交他们自己的申请。
重要的是了解这项新法案将于2019年11月21日生效，即自联邦公报发布之日起的120天。根据现行的EB-5规定，在此之前 “适当提交请愿书” 将被裁定。（备注：请注意，鉴于法案生效前有120天的空档期， EB-5投资计划可能会被重新授权（在2019年9月30日之前），新的改革可能会是从美国公民及移民服务局通过一项新的重新授权的法规。
미국 이민국(USCIS)은 2019년 11월 21부터 시행되고 내일 (2019 년 7 월 24 일) 발간될 새로운 EB-5 규정을 발표했습니다. 이는 1990 년 미국 의회에서 창안된 이래로 이 프로그램의 첫번째 중요한 변화입니다. 저희 로펌은 곧 더 자세한 내용을 제공할 예정이지만 주요 변경 사항은 다음과 같습니다:
1) 신규 투자 금액: 최소 투자 금액은 180 만 달러입니다. TEA (Targeted Employment Areas) 에 위치한 프로젝트의 투자 금액은 최소 900,000 달러입니다. 그러나 TEA 지정 프로세스의 변경은 TEA 지정 자격을 얻기위한 대부분의 프로젝트들을 매우 어렵게 만들수 있습니다.
2) 수정 된 TEA 지정: TEA 결정은 USCIS 가 담당하며 인접한 인구 조사 구역을 집계하거나 결합하는 데 한계가 있으므로 훨씬 줄어들 것입니다. 프로젝트가 단일 또는 “바로 인접한”인구 조사 지역이면, 대부분의 프로젝트 자금은 180 만 달러가 되어질 것입니다.
3) 우선 날짜 보유를 위한 새로운 규칙: 나중에 I-526 신청서를 새로 접수해야하는 경우, 신청자는 예전에 이미 승인되어진 I-526우선 순위 날짜를 유지할 수 있습니다. 이러한 유연성은 I-526 청원이 승인된 투자자를 보호하지만, 통제가 불가능한 상황 (예 : 지역 센터 해지)으로 인해 자격이 위태로워질 수 있습니다. 이러한 유연성은 또한 우선 순위 날짜를 위태롭게하지 않으면서 접수한 후에 투자 전략에서 창의적인 전환을 가능하게 합니다. 그러나 우선 순위 날짜를 주요 신청자 / 청원자로부터 그들의 배우자나 자녀들에게 양도할 수 없습니다.
4) I-829 유연성: 투자자의 가족은 투자자의 I-829 청원서에 포함되지 않은 경우 I-829 단계에서 본인의 I-829 청원서를 제출해야합니다.
이 새로운 규정은 연방 등록부에서 발행한 날로부터 120 일 후인 2019 년 11 월 21 일에 발효될 것임을 이해하는 것이 중요합니다. 그전에 “적합하게 접수된 청원서”는 현행 EB-5 규정에 따라 판결될 것입니다. (참고: EB-5 개정안이 효력을 발생하기 전에 120 일간의 유예기간이 주어진 상황에서, EB-5 프로그램이 (2019 년 9 월 30 일 이전에) 국회를 통해EB-5 프로그램이 USCIS 가 발표한 개정법안과는 다른 내용으로 재승인될수 있는 가능성도 배제할수 없기때문에 조심스럽게 상황을 지켜봐야하겠습니다).
우리는 이제 새로운 규정이 효력을 발생하기까지 120일의 시간이 있습니다. 우리 그룹은 지난 2년 동안 수천 건의 EB-5 청원서를 제출했으며 EB-5 사례를 성공적으로 접수하기 위해 저희의 파트너들 / 고객들과 긴밀히 협력해 왔습니다. 현재 저희의 파트너들 및 고객들은 새로운 규칙이 2019 년 11 월 21 일에 발효되기 전에 모든 케이스가 적절하게 접수되도록 저희에게 즉시 연락 주시기를 당부 드립니다.
WHERE YOU CAN FIND US
Orange County Office
1122 Bristol Street
Costa Mesa, CA 92626
2033 6th Avenue, Suite #600
Seattle, WA 98121
Phone: +1 949.383.5369
David Hirson & Partners, LLP has over 30 years of experience in corporate, business & investment immigration law. Our business immigration practice provides a full range of services, including a nationally recognized EB-5 investment immigration practice.