New RCs (CA, ID, FL, NE, NY, NM, NY, OK, PA, TX), New NAICS, IIUSA Meeting, Visa Numbers, SEC Issues

A brief post to catch up on a very busy few weeks.

Processing Update and New Regional Centers: The EB-5 team at USCIS has been busy issuing approvals! I hear rumors of I-526s being adjudicated in record time, and twelve new names have appeared on the USCIS list of approved Regional Centers. Kudos to the adjudicators and leadership who have prioritized improved processing times. My enthusiasm is somewhat mitigated by the discovery that some of these new centers are in the dark so far as the Internet is concerned. Thank you to the centers with website for letting us know who you are and what you plan to do. I look forward to seeing more information about all these centers.

California

Harris Investment Immigration Fund, LLC

Idaho

Idaho Global Investment Center, LLC   http://idahogic.com/

Florida

American EB-5 Centers   http://www.americaneb5centers.com/

Leaf Fisher Investment Group LLC

Omega Florida Regional Center http://omegaregionalcenters.com/omega-designation

Orlando EB-5 Investments Regional Center http://www.orlandoeb5investments.com/

Nebraska

NuNebraska Regional Center, LLC

New Mexico

Allied Artist High Desert EB5 Regional Center
Geographic Area:New Mexico Counties of San Bernalillo, San Miguel, and Santa Fe
Industry Focus:Motion Picture and Video Industries (NAICS 5121), Advertising and Related Services (NAICS 5418)
Designation Letter

New York, New Jersey, Pennsylvania

New York Federal Regional Center

New York

Real Estate Immigration Fund, LLC  http://www.reifrc.com

Oklahoma

Briight Partners Regional Center http://www.briight.com/

Texas

Civitas Texas Regional Center http://www.civitascapital.com

(Note: See my Regional Center directory page for my most updated listings for all RCs. And please email me if you would like to provide additional information regarding your RC.)

New NAICS Codes: I belatedly noticed that the 2012 NAICS codes released by the U.S. Census Bureau include a few significant differences from the 2007 NAICS codes. For example, the 2012 codes combine full service and limited service restaurants under one four-digit code, though they had been separated by the 2007 codes. The six-digit codes for restaurants have been changed accordingly. The code 6233 that used to be called “Community Care Facilities for the Elderly” is now defined as “Continuing Care Retirement Communities and Assisted Living Facilities for the Elderly.” And so on. These changes shouldn’t be a major issue, but Regional Centers should be aware of the updates to the definitions for their industry categories.

EB-5 Meetings: Be sure to register for the 3rd Annual IIUSA EB-5 International Investment & Economic Development Forum Association to Invest In the USA (IIUSA) on Wednesday, June 19, 2013 at 4:30 PM – Friday, June 21, 2013 at 12:00 PM (PDT) in Las Vegas, NV. This is the best and most comprehensive EB-5 event of the year. USCIS hasn’t yet announced dates for 2013 EB-5 stakeholder meetings, but don’t forget the CIS Ombudsman EB-5 stakeholder meeting on 03/05/2013.

Visa Numbers and SEC Issues: The EB-5 Insights blog by GreenbergTraurig continues to publish valuable posts. EB-5 Retrogression for China Unlikely in 2013 reports that “According to Charles Oppenheim of the Department of State Visa Office, EB-5 usage has dropped in recent months. As a result, it is no longer expected that China will reach its per country limit in 2013.” The Myths of Retrogression of the Visa Numbers in the EB-5 Program further explains what retrogression does (and does not) mean. Addressing concerns with securities compliance highlighted by the recent SEC action against a Regional Center, Steve Anapoell has published useful articles on EB-5 Program Securities Offerings: Considerations for the Drafting Process and EB-5 Program Securities Offerings: Preparing Appropriate Disclosure Documents. The IIUSA blog has also been posing valuable resources related to securities compliance.