Looking to March 11, 2022 (legislation and litigation)

The drama of regional center program reauthorization is racing toward the zero hour of March 11, 2022: the date when the FY2022 omnibus appropriations bill is now finally, firmly likely to pass with or without EB-5 legislation on board. The omnibus text should be released at the end of next week, and we’ll know then whether the industry has agreed with Senator Leahy on reauthorization (and/or grandfathering language). Advocacy groups have been working hard, taking the deadline seriously, and cautiously optimistic about a favorable outcome (including EB5IC, IIUSA, and AIIA in last week’s donor call). USCIS apparently believes in March 11 as a hard deadline as well. I heard 4th hand from multiple sources that USCIS told the U.S. Chamber of Commerce lobby that the current abeyance policy for regional center petitions will be ended after the omnibus passes. Such a message, assuming true, places scary but helpful pressure on the omnibus to actually carry reauthorization or at least protections for RC petition eligibility. Not that USCIS is likely to act very quickly starting March 12, whether on approvals or NOID (it appears that the Investor Program Office has maybe two employees left working on I-526), but at least there’s a line in the sand for Congress/industry to see. Now is the time for the legislative debate to produce a result.

For timely updates, look to your primary-source advocacy channels. Or look away and focus on your health, remembering that life is precious, whatever happens with EB-5. Comments are open, with the reminder that my blog is not a widely influential platform, and not Twitter.

Personally, I have been busy with business plan work, but also overcome with pity and fear over the EB-5 scene. Some people believe that this is some kind of modern Hollywood story full of sophisticated conspiracy and slick villains, but I don’t think so. The ingredients look to me like plain old-fashioned tragedy, with hubris and hamartia driving the action. As the end unfolds and pressure builds I’m torn between wanting to hide my eyes, just run from the theater, or maybe stand up and wave my arms and try to shout to the players onstage. Not that that works, but here’s what I’d say.

Regional center self-interest calls for action to protect past investment, because the past is also the future. EB-5 visa availability constraints necessarily limit how much more new EB-5 capital can be raised going forward, regardless of other factors. Meanwhile a huge fund of existing EB-5 investment remains to be either deployed into the future or lost. Profit depends on regional center actions today to protect the immigration eligibility that keeps past investors on board.

Please don’t let negotiations die in an investment threshold battle that couldn’t have helped even if won. We must avoid misjudging the role of investment amounts. Demand for regional center investment is based first on a chance to immigrate, and secondarily on the price of that chance. The large crowds who flocked to affordable investment levels in 2012-2018 did so because they believed in the promise of a visa, and weren’t apprised of overall or per-country visa limits. Those unsustainable crowds can’t return again, even with a good win on investment/TEA terms, because the ignorance that underwrote that excess demand has dissipated, and backlogs are in view for all major markets. With 80,000+ people queued up for visas only available at 10,000 per year, and backlogs concentrated by country caps on the few large EB-5 markets, the future has already been sold.

The visa availability/awareness damper on future demand precludes the possibility of any RCs with large past EB-5 raises depending on a Ponzi principle for their future. “But I need to replicate the past EB-5 investor stream or I can’t keep operating or repay past investors” (besides being a statement that the SEC might like to investigate) is not a reason to hijack legislation over investment amounts, since affordability alone couldn’t restore past demand anyway. Appetite for what’s possible has a point, but grasping for the impossible is not the vice of greed so much as of stupidity.

There are strong public policy arguments for accessible EB-5 investment thresholds, especially for small direct EB-5 projects, but it’s not a rational dealbreaker issue for the big regional centers.

Please don’t let negotiations die over a visa relief battle that couldn’t have been won. Getting actual extra visas for EB-5 would be a wonderful win, and essential to holistic reform, but it’s not on the table for March 11 — or anywhere outside multi-category immigration reform, considering that Republicans don’t want to increase overall immigration at all, Democrats have suggested relief for almost every visa category except EB-5, and no one would let EB-5 get first and only what more powerful interests want just as badly. This is all unfortunate, but understood. But there’s lingering thought in some corners: what’s the closest we could get to the unobtainable good? In absence of visa relief, what if we could at least manage half-measures? Something is better than nothing, and we might restore the historically-effective illusion of an immigration opportunity, if nothing else. Thus the ideas of set-asides and advance parole. Visa set-aside categories could only support a few hundred new annual Chinese investments before creating their own backlogs, but could still be effective marketing tools if the limits went unnoticed upfront. Regional centers with previous success in raising four Chinese investments for every one visa actually available to China might believe that a new set-aside category would significantly beguile/reopen the China market, despite not numerically supporting the desired demand. Advance Parole also sounds very promising, so long as one doesn’t look up what Advance Parole is and how it’s implemented. However, the China market is on the alert now, and equipped to calculate visa incentives and avoid illusion. Unexaggerated, how much could the small set-aside allocation or a limited advance parole program possibly help the market? On the other hand, how much could insisting on such half-measures in face of opposition still hurt the chance to pass any legislation at all? Advance Parole in particular, while not controversial for industry, is very controversial in Congress because it involves allocating immigration benefit, looks like expansion, and triggers the interests of other factions. The limited actual good of advance parole is worth at least trying for, but not worth forcing negotiation death in the attempt to get, if (and assuming) it’s too controversial for assent from the Congressional leaders who need to sign off on EB-5 legislation. Meanwhile, the extended legislation fight is losing already-available extra visas by the day: the nearly 20,000 EB-5 visas technically available in FY2022 will be lost without immediate action to restore RC investor eligibility.

Do not reckon without the gods. In calculating what’s possible in March 2021, remember Senator Leahy’s power over the omnibus, and his long-standing and passionately expressed personal motivations and public commitments with respect to his legacy in EB-5. Note that Senator Grassley sounds as unbending as ever, telling Roll Call last week: “The program is now dead, and it’ll remain that way until all corners of the industry wake up to the reality that Congress is not going to allow these abuses to continue.” Observe that Senator Schumer is powerful and there for his constituents, but can be counted on to do what’s expedient (which includes negotiating with but not railroading idealist and noisy Leahy and Grassley in an election year). Though motivated by his campaign contributors, Senator Graham is not placed to unilaterally include favorable legislation on the omnibus, Considering this configuration of the gods over the March 11 opportunity, industry compromise looks like the only possible path to March 11 success, painful as that will be. Our boldest industry ambitions will have to be modified or else fall from the sky with melted wings. See recent articles by Carolyn Lee and Ishaan Khanna for further discussion and insights and the lobby state of play and need for compromise.

Go ahead and try the Hail Mary pass, but do not rely on it. How about if we escape the regional center lapse tragedy by denying its existence? The regional center program itself is not temporary, but was established without time limit in 1992: so goes the case recently brought forward by multiple lawyers (e.g. Michael Chen last year, in a case that has a decision, and now with modifications by Wasden Banias/Orbit Law, GreenbergTraurig/Behring/EB5IC, Joseph and Hall/Galati/IMMPACT, and counting.) The basic case turns on a program authorization/visas authorization distinction that seems like it ought to exist, although grammar doesn’t put it in the regional center statute. The case stares down 30 years of recorded history, including Senator Leahy’s many published comments on his understanding of the program he has shepherded over the years (e.g. from 2008 and 2012), records from multiple Congressional hearings on the RC program, 12 reauthorizations (not counting CRs), and decades of agency and EB-5 industry communications. It seems we were all mistaken about RC program status all that time — even those Senators who are somehow still on the scene now 30 years after attending the birth of the regional center program. The litigation has attractions because it implies that we don’t actually need reauthorizing legislation, with its excruciating process and delays and unpalatable reforms. Even better for some purposes, it places full blame and responsibility for the current dreadful limbo of visa-less regional center investors on USCIS and DOS, exculpating the industry and Congress and getting them off the hook for further effort. How expedient if USCIS and DOS just made an administratively-fixable error of interpretation in December 2019 (repeating previously-published errors going back to at least 2009).  I understand that this Surrealist litigation has sophisticated legal nuances and represents the best that smart and well-regarded lawyers can offer us, under the circumstances, accommodating our demand for some kind of litigation alternative, and also having ancillary strategic functions.  But if I could shout more advice to the actors on the RC lobby stage, I’d say: do not count on this litigation to function as a plausible alibi for letting the legislative effort fail. You, we, and the Internet know too much for this line to fly: “But we genuinely believed that this litigation would protect regional center investors as a fallback, allowing us to give up a hard compromise for reauthorization or grandfathering legislation.” (For further comment on litigation, see attorney Robert Divine’s article EB-5 Reaches Crescendo of Confusion for Past and New Investors.)

My hope for our EB-5 industry future and face depends on some kind of EB-5 legislation passing with the March 11, 2022 omnibus. No matter how much painful sacrifice that will take, to avoid wider tragedy to come. Let’s get this done.

About Suzanne (www.lucidtext.com)
Suzanne Lazicki is a business plan writer, EB-5 expert, and founder of Lucid Professional Writing. Contact me at suzanne@lucidtext.com (626) 660-4030.

102 Responses to Looking to March 11, 2022 (legislation and litigation)

  1. Brij says:

    Hi Suzanne, not sure if you also seen the new data that Matt Galati received from USCIS as part of his FOIA request. Here is the file with 2019 to 2020 I-526 receipts by country. I saw some data you posted here which only goes up to 2018 so might be useful

    Raw data available at the end of the post https://www.galati.law/post/new-data-i-526-receipts-by-month-by-investor-country-of-birth-oct-2019-oct-2020

  2. Saurabh says:

    Thank you for the update ..

  3. An amazingly well written article as always Suzanne. While I do agree with you that this is less of a “modern Hollywood story” and more of a “old-fashioned tragedy”, I wouldn’t say there aren’t any villains. After fighting this battle for the last several months I have begun to reckon with the fact that I am up against a lot of greed. Plain old white American greed for that sweet, cheap EB-5 financing to pump into real estate projects and at this point those villains are the obstacles standing between the Regional Center investors and their Green Cards. I pray for those key decision makers on the reauthorization of the EB-5 Regional Center Program will recognize the humanity of the situation and put existing investors above that future businesses.

    • Kim says:

      As a (small-time) donor to AIIA, I want to express my sincere thanks to you, Shawn, and Rajvir for all the stellar work you’ve put into this over the past year.

    • Hiep says:

      Thank you for all the hard work. We owned you a beer! Let me know if you guys are in DC area.

  4. yu zhang says:

    I don’t like you tones when you are talking about Chinese investors. Base on total number, most of Chinese investors are suffering from backlog. I understand other nations investors interest. But we will not give up without fight.

    • I did not mean at all to minimize the suffering of Chinese investors, which is truly probably the worst problem facing the EB-5 program, if only political solutions were available. I just want to be realistic about solutions available for that problem. And note the importance of distinguishing between measures designed to give relief for past Chinese investors, and measures designed to give relief for issuers seeking new Chinese investors. Also note that my target in this post is regional centers, which shapes the tone and the interests that I try to appeal to.

      • yu zhang says:

        Actually the Parole will help with existing current Chinese investors. For me, my priority date is September 2016. This is my last year of OPT and very last chance to get h1b lottery. At least parole can help with my situation. I understand industry want to use parole to allure more Chinese investors. But this term will also benefit existing Chinese investors. For our Chinese investors after 2016, this program already dead. And those relief terms are our only hope.

  5. yu zhang says:

    I don’t like your tones when you are talking about Chinese investors. Most Chinese investors are suffering from backlog log. We will not give up without any fight.

  6. Ash says:

    Thank you for a well balanced perspective yet again. We will all see what we get on March 11. And I hope Congress does right by existing investors. Yours has been a sane voice throughout this process. Much appreciated.

  7. Tony says:

    Hi Suzzane. Thank you so much for your insight post and writing as always. As an existing investor, I really hope for reauthorization, but I’m very pessimistic that it will come true. At this time, there are more legislators who may also want to block the reauthorization. https://www.newsbreak.com/news/2523831234555/congressional-contingent-asks-about-relevant-s-eb-5
    Remaining time is too short for new legislators to involve in EB-5 so they may just want to block it to buy more time for further review.
    The above link also shows us that USCIS has been under pressures from legislators in monitoring and processing EB-5 applications. As IIUSA paper (I could not access full version), but I-526 approval rate has dropped significantly since 2019 (with only 58%). I really hope that AIIA will push harder to get FIFPA done through March 11th. Assume that we can get grandfathering law passed, do you think that USCIS will be harder and harder in processing applications?

  8. EB5swordsmen says:

    Truth with heartful writing. as in Chinese “真相扎心”. Wisely, you don’t support AAED anymore. Have been witnessing AAED fraud Chinese EB-5 investors with hopelessness and misrepresentation on the parole, as I said earlier. If there are some stupid still believe those shit, they would be chatbots or trolls hired by AAED, just like they did in EB5sir’s comment board for the last several years, manipulate comments, and lure people to donate. To be honest, this scam is terrible to create meaningless hope, and all their intention sell their PE products. Fraudsters should go to jail, and investors have been misled into an illusion.

    What is the demand for the direct EB-5 right now? Are most of the direct investors from India? What is the survival rate of direct investment after 3 or 5 years in your opinion? We both know it is pretty low and approval of USCIS is not evidence of success.

  9. EB-5 Audit says:

    I hate to say this, but I am just not getting the feeling that this will work out. Reauthorization would be only a miracle and I think knowing how Grassley feels, we can just forget about it. Regarding FIFPA, I again am not sure if AIIA can wither opposition regional center lobby, which lets face it will never accept grandfathering without reauthorization. Buisness is euphemism for cruel pathways to money making borne mainly out of greed. Some investors are innocent to believe that regionl center lobby will protect them. They won’t. They will only protect their business and everything else, from solely theirs perspective, can & will be sacrificed, if required.

    I also do not have much hope in litigations against government that various EB-5 specific twitter famous attorneys are selling. Judges would be favorable to governement on such litigations, which honestly only sound a little better than simply frivilous suits. The news suits are indeed unique in their arguments, which might interest judges, but eventually will be dismissed.

    Better to come to terms to reality. USCIS intentionally let the Chamber of Commerce know about their intentions to not hold petitions after March 11th, 2022. Like it or not, the governemnt or simply USCIS always has a better feel of how Congress will act in future. They have assessed that chances of reauthorization or FIFPA are bleak, and wanted to make one last push to get the program active, which btw can only happen through Congress. Trust me USCIS is acting in good faith. They have seen the writing on the wall, and acting only to create the urgency to reactivate pending processing processing. But they cannot unilaterally grandfather petitions. It will have to come from Congress by March. Unfortunatley, it is unlikely.

    To investors, I would ask: Do you think suing the goverment is helpful? Forget about attorneys for a moment. Their job is to sell suits. As many as possible. It also makes them famous. Its a great deal for them. More investors will come to them. BUT, again ask yourself: Suing an entity of governemnt who has not so far denied any petitions, which it could have done easily few months ago, would it really make the entity to side with investors in future when negotiataions completely breakdown and there is no FIFPA or reauthorization? I am not saying they will retaliate, but they certainly wont shy away from clearing the mess by “acting as per law” and denying petitions for a “program that has been inactive”.

    Just think about it.

    With that said, only way out is grandfathering. Nothing else. EB-5 program will stay lapsed. Only existing petirins have a chance — a slim chance. I say slim because grandfathering which really should have been championed by regional center lobby, is now only being led by a very new group — AIIA. I doubt they have resources, money to fight against FIFPA opposition from RC industry. And RC industry is not going to publicly dismiss FIFPA. They would to do it only at the level of Congress but discretely.

    If you are an investor, you can try litigations against governemnt, if it makes you happy or gives you something to look forward to. It will probably not lead to any results benefecial to you. You will lose time and money.

    For now, you should only focus on two things:

    1.) Grandfathering existing investors. Assume EB-5 RC will be permanently terminated. Push your RC to categorically state if they are supporting grandfathering by March 11, 2022. If they say yes, ask them what concrete steps they have taken in this regard. You deserve to know if the RC that took your money is protecting you or not.

    2.) Speak with your “new” attorneys to look at offering documents of your RC project. Get into negotiations with RC to get your funds back. If they decline, you may use litigation. Judges in this case, will be more predesposed to you, given how the lapse has played out. Its time for an exit plan. Use the power of litgations against RC and not against government. If you miss the exit on the freeway, you will end up losing more time.

  10. NV says:

    Hi Suzanne,
    Any idea when the next quarterly reports are due to be released?

    • Mark says:

      The battle to save pending petitions is coming to a close. And currently we are still on the weaker side. If regional industry wants, FIFPA can pass easily by March. Ask your regional centers CATEGORICALLY if they are supporting grandfathering existing investors in Congress. Ask.. Ask them to demonstrate what steps they have taken to support grandfathering.

      If petitions get denied after March 11th or end of March, it will be solely because the regional industry did not let grandfathering/FIFPA to pass in Congress.

      You gave your hard earned money to RC industry. Do not ler them destroy it.

  11. MTR says:

    Hi, any update on Direct EB5 processing.

    • MP says:

      Hi, My Direct Eb5 Petition got approved in 2020 yet not transferred to NVC for further processing. Its been 19 months. I have exhausted all options including Congressional inquiry, Nothing works.

      • MTR says:

        Quoting CEO of RXR Realty, Scott Rechler:

        “In the end, the success of any company rests on how effectively it focuses on its people, its customers and the communities in which it operates.”

        So he focuses on “people” & “communities” in which RXR Realty operates. Hmmm..so that would EB-5 invedtors who funded his company’s development project. But the actions of his company are quite opposite to what he preaches. So what will happen? Will the GREED takeover RXR Realty and it would lead them to block EB-5 Bill prsented by Grassley?

        If that happens, just wait to see how investors will hold RXR Realty legally accountable

  12. veedster says:

    I heard from my lawyer on this. Very disappointed. As ‘EB-5 Audit” says, grandfathering is the only way.

    Also, I found it funny that these law firms are asking for $4000 per family (or $3000 ) to get back the $3750 we paid to USCIS. (If I understood it right.). And this is NOT a class-action lawsuit, but they need at least 100 investors to participate. ( They also need $500k, before they want to look at us.) They go on to say, that’s it no more billings.

    What is not mentioned:

    1) the cost Writ of Mandamus and its related charges if they win.

    2) How to recover money from the RCs and the cost of that.

    This is looking more like the first hook on the carcass.

    One group is guaranteed to win here, either way. LAWYERS.

    Is this another cash grab before the reauthorization with the omnibus?

    “Note that one of the goals of this legislation is to pressure Congress to extend the visa set aside expiration date and, as such, their extending the program should be viewed as a win by our plaintiffs. We will NOT refund litigation fees if Congress extends the program”- IMMPact

    How do we know if it is THIS litigation that brought in the extension, if at all?

    I don’t know man!

    I know what I cannot afford. To throw good money after bad money and a heart attack.

    • veedster says:

      Also heard from my RC.

      They think that they will be another CR from the 11th March to the 22nd March or something,. and then the reauthorization.

      He also thinks that the NOIDS will not come the day after 11th March, if that and the litigation is m premature.

      So here are both sides now.

  13. Xu says:

    Its coming to the end folks. Our money and green card, both well deserved, will be getting destroyed by the industry of developers. No reauthorization. No grandfsthering in March. All gone, because of all greed. Nothing else.

    • Alan says:

      In the worst-case scenario that no re-authorization or grandfathering happens in March, it is only the green card that becomes elusive. You still have the money as long as your project doesn’t go south.

      • Kevin says:

        Wow..incredible. And must employed by a developer in NY relying on EB-5 money or some regional center.

        • Alan says:

          No, I am an investor and I was just telling the truth. What I meant was that it is necessary to take steps to safeguard your investment; review your subscription documents and use all legal means to ensure your project doesn’t collapse. Otherwise, you will not only lose green card but also your money. Complaining without acting does you no good and will not decrease the risk of your investment. If I were employed by a regional center, I would have not told you to look after your money.

  14. EB5swordsmen says:

    Game over, everyone!

    https://discuss.ilw.com/articles/articles/419201-article-eb-5-reaches-crescendo-of-confusion-for-past-and-new-investors-by-robert-c-divine

    All the focus in Congress is Russia and Ukraine. No light at end of the tunnel. Withdrawn is the only powerful option.

    Truly wish all EB-5 investors in suffering find their redemption.

    • veedster says:

      Fearmongering?

      The best right now imo is to do nothing.

      There is Behrings law suit, IMMPACT law suit, another group of investor law suit.

      That is plenty.

      Ukraine is a double edged sword. In light of Ukraine situation, possibility is there that the USCIS, will decide to not to carry out with NOIDs after all.

      People who were laughing at Behrings, ( lawyers and RCs) when they filed the first law suit , now want to follow them with their own suit, AFTER Behringd filed a second suit, which is highly likely to succeed. Now what they see is another revenue stream for themselves. As far as I know, Behrings never asked investors to chip in to file their law suit. But all the RCs piled on to take advantage of the opportunity that behrings created., in that short window. All the RCs are now pushing “direct eb-5”. Guess who is not doing that! Behrings! And they have laid their reasons well in their blog.

      Also, the only RC , correct me if I am wrong, who publically announced in favour of grandfathering in their web site, is Behrings.

      Why are others so scared to make their opinions public? Some others are just yes-men to investors ,who distance themselves from grandfathering, at Congress level.

      Btw, Behrings is NOT my RC. But you have to give credit where credit is due.

      N.b. I may change my mind because of the vise I am in. But right now, I am pissed off.

    • Mark says:

      So what would RXR Realtu do? For those, who don’t know: RXR Realty is a New York based developer. And if information out of some quarters is true, RXR Realty is OPPOSING Grassley Leahy bill, which is the ONLY bill that can bring EB-5 back. There will be no industry consensus bill or Nadler bill that Congress will consider. Senators Grassley and Leahy are only going to allow EB-5 to become active if their bill is the basis of re-authorization.

      BUT..we have a problem. The Grassley Leahy Bill can be passed easily, and most industry member have digested it, in the sense they are fine with it. BUT..there is one strong, rich, powerful faction led by RXR Realty that is endangering the passing of Grassley Leahy Bill. If RXR Realty are indeed opposing the bill and become successful in scutlling the reauthorization, then USCIS will begin denying pending petitions: I-485 and I-526. The investors will not only lose their immigration benefit, their investments will be in trouble as it would begin the phase of investors suing regional centers to demand their money back. And rightly so. Because if you don’t get green card, you won’t get to keep our money at risk.

      As per sources, RXR Realty and USIF (United States Immigration Fund) are main obstacles to investors security. If they indeed succeed in blocking EB-5 this critical time, it will be investors who will be in MAJOR trouble.

  15. EB5 Investor 2017 says:

    It seems that the omnibus bill might pass on 11th March but without any EB5 legislation, is this true? and by what date will we know for sure, I would greatly appreciate any answers or comments.

    • AWB says:

      EB5 Investor, everyone would appreciate if you read through the blogs (at least this one above) and some of the comments above before asking a question like this. It seems to me that you want answers on a platter served for you, which is an insult to people (particularly Suzzane who is putting so much hard work into this). At the cost of being rude in my reply, please exert yourself.

  16. Kevin says:

    Folks, if EB-5 bill gets killed and your petitions get denied, make sure to visit this website: https://rxrrealty.com

    The website looks great. Amazing to be honest. Lots of development. Must be a “developer”. “New York” has a lot of developers. So must be a rich developer. From the website it seems like they are in real estate. May be also EB-5 Real estate. So if lets assume they are rich, in real estate, then by deduction they would be powerful, right? And if they are really in EB-5 space and powerful, then they would have lobbying power in Congress? If yes, what can these folks do to the Grassley Leahy bill? They can *** the bill?

  17. SociallyResponsible says:

    @Kevin Who come on Kevin. I just checked the website: https://rxrrealty.com/company. On the website, RXR Realty says they are “Socially Responsible”.
    And the website also says that “RXR Realty is a leading real estate owner, investor, operator and developer committed to building socially, economically and environmentally responsible communities.”

    What more evidence you want that RXR Realty is a “socially responsible real estate owner”. They are stating it on their website. Oh wait….isn’t this an oxymoron? I mean…”socially responsible” and a “real estate owner”..both at the same time?

  18. Matt says:

    You guys are forgetting that RXR Realty also does “civic engagement”. I also checked their website. And I took a screenshot to look at it after I see what happens with Grassley Leahy Bill in the coming weeks. The screenshot of their website says:
    “Doing Good and Doing Well Means Doing Better. This is the overall philosophy that drives us as a company and a community leader. It is why we focus our energy not only on being a leading player in the real estate industry, but also on being a company that is widely recognized for its focus on social responsibility and civic engagement.”

    Again, to “re-iterate”: they are “widely recognized” to be “socially responsible”. Lets all remember that and come back to it in a week or two timeframe.

  19. veedster says:

    What was the news from AIIA meeting today? I could not attend.

    • Bunuel Yang says:

      According to the content of the AIIA meeting, currently only Grassley Leahy bill is in play now (including the grandfather clause), but it is not ruled out that the regional center will make trouble, and be cautiously optimistic!

  20. Xu says:

    @veedster Forget about the meeting. Just admire this website: https://rxrrealty.com/

    Its so professionally built. RXR Realty must have hired great web developers ( NY I believe) to build it out with effective usage of 360 degree animations. Lets please take a moment to hail RXR Realty for being professional & socially responsible. And they are also led by real “leaders”. Lets give a shout out to SCOTT RECHLER, MICHAEL MATURO, JASON BARNETT and last but certainly not the least, our very own TODD RECHLER.

    What an amazing NY based real estate developer company that …is also deciding the fate of EB-5 investors it turns out. So what would RXR Realty really do with Grassley Leahy bill, which is the only bill that can bring back EB-5? Will they support it or would they kill it, thereby putting investor money and green cards down the drain? So what exactly would RXR Realty really do?

    Well…I guess we will have an answer by next week. Oh yes..till then..just read more about RXR Realty and again don’t forget to continue to admire their website: https://rxrrealty.com/

    • veedster says:

      I only have two words for you, which I am not at liberty to say because this is someone else’s blog.

  21. Veedster says:

    “Can I join the lawsuit against USCIS?

    To present the simplest and strongest legal claims, Behring is filing alone as an EB-5 industry representative. Soon, Behring may consider additional legal claims against DHS, USCIS, and DOS to address further the impact of USCIS and DOS’s wrongful withholding processing of EB-5 petitions and visa applications for over 7 months. If an opportunity arises and we can pursue mandamus claims on behalf of Behring Regional Center and our EB-5 investors, we will notify our investors.

    Meanwhile, if existing EB-5 investors want to join similar lawsuits investor-lead lawsuits, they can contact these firms to determine if their specific cases are suitable to participate:

    ImmPact Litigation / Matt Galati EB-5 lawsuit
    Wasden Banias EB-5 lawsuit ”

    I found this interesting. This is from Behring’s site.

    A good example of cooperation and coordination.

    • veedster says:

      Thank you, Peter!

      The most significant development of EB-5 in a year!!
      Original Beyond International Direct to the other side 2022-03-05 19:23
      One year on, the EB-5 Regional Center Reform Act has finally seen one of the most important developments!

      On March 5, according to people familiar with the matter, the EB-5 regional center reform bill has been written into the U.S. Department of Homeland Security (DHS) appropriations bill, and Congress will vote on the omnibus appropriations bill next Tuesday, March 9. If nothing else (such as another CR), the EB-5 regional center is expected to be reauthorized on the omnibus train!

      Important content of the reform bill :

      The new reform bill is based on Grassley/Leahy’s proposal, and the finalized minimum investment amount is $800,000 for TEA areas and $1.05 million for non-TEA areas.
      The minimum investment amount will be implemented 6 months after the Act takes effect, and the hot period of direct investment projects will pass.
      The good news is the good news: the EB-5 visa quota wasted due to the suspension can be used continuously (should refer to the waste in 2021, if the quota allocated by relative immigrants is counted, there will be more than 10,000).
      The new reform bill contains a grandfather clause. According to AIIA’s online meeting of donors on March 4th, the G/L proposals as of February 24th did not include the grandfather clause. AIIA contributed greatly to this process! So far, AIIA has also been in constant communication with the Grassley/Leahy office.
      The Omnibus Appropriations Act goes into effect and the EB-5 Reform Act goes into effect!

      In addition, during the revision of the reform bill, AIIA proposed to revise the original provisions on secondary investment of funds, requiring regional centers not to invest in secondary investment without the consent of investors. Grassley’s office said the issue could be resolved administratively, according to the AIIA meeting. AIIA advocates limiting the administrative appeals period to 180 days, and it’s unclear how that clause will ultimately be spelled out.

      This is the best news in the EB-5 Regional Center field since June 24, 2021.

      However, before the boots hit the ground, everyone should be calm, because there is still a risk of opposition from the center in some areas, and everyone should not celebrate prematurely. To this end, AIIA members propose to continue to write letters and emails to members of Congress and relevant regional centers, but the wind of words has taken a 180-degree turn. If you also want to join the action, add a little assistant at the end of the article, join our group to request an email template.

      In response to the recent expiration of the EB-5 Regional Center Act, Bi’an International established the ” AIIA Investor Protection Law Promotion Group ” to help promote the legislation of the grandfather clause, prompting the USCIS to continue to process the immigration applications of existing investors. Friends who join the group, please identify the QR code and add the little assistant on the other side to pull you into the group. In order to ensure that the group is all EB-5 investors, please specify investment project + priority date + current city of residence. Investors who want to withdraw early, please indicate the refund.
      Image

  22. yu zhang says:

    From different sources, the new bill benefits nothing for Chinese investors. It doesn’t even contain age freeze.

  23. Veedster says:

    CAMPION NEWS ALERT!!

    It appears that the Regional Center Program will be reauthorized on the
    Omnibus on March 11. The date may be pushed a few days as some of the
    language in the Omnibus is still being worked on.

    We understand that some of the key provisions are:

    1. $800,000 for TEA.
    In fact, we are one of the only ones that has *an approved TEA from
    USCIS*. OH YEA, You da man!
    2. Set-asides give 2,000 to rural and 1,000 to TEA projects.
    3. Grandfathering is contained which means moving forward investors can
    invest knowing that even if it sunsets they can proceed with their case.
    4. TEA letter is good for two years.
    5. Program is renewed until September 30, 2027, but grandfathering ends
    a year earlier.
    6. Concurrent filing is permitted.

    Looks like he is trying to steal AIIA thunder too.

  24. Alex says:

    I just get email from Behring company that Eb-5 will be reauthorized another 5 years by March 11 with grandfathering to existing investor and adjust Min. investment to $800,000 for TEA.

    • phils79 says:

      Will Behring Cos sue the EB5 industry & Jeff Campion next, for negotiating such an atrocious reform bill for the industry 🙂 but seriously, $800,000 for TEA? It effectively ices the program just like the $900k increase did. Also, there was no winning in the TEA rules. The industry will sit back and realize, so little has been achieved since the program expired last year. This EB5 bill could have been negotiated in Dec 2020 and saved everyone the agony of the last 8 months lapse.

      The real winners are the EB-5 investors in this reform bill. Grassley stuck to his guns and ensured investors get financial audits, major oversight over RCs and stringent compliance checks. bye bye EB5AN 🙂

  25. Steve Lee says:

    That is good news indeed. I hope the grandfathering and/or reauthorization will go through.

  26. Krish says:

    if this is approved. How fast we can see the approvals, as I also see they want to use unused Visas. Can we see I526 + 485 approvals faster

  27. Bagabond says:

    Page 2724 says “the Secretary of Homeland Security—
    ‘‘(i) shall continue processing petitions under sections 204(a)(1)(H) and 216A
    based on an investment in a new commercial enterprise associated with a regional
    center that were filed on or before September 30, 2026
    (ii) may not deny a petition described in clause (i) based on the expiration of such legislation; and
    (iii) may not suspend or terminate the allocation of visas to the beneficiaries of approved petitions described in clause (i).’’

    Does this mean that the existing (already approved or pending) petitions go ahead with next steps without issues?

  28. Sam says:

    It is our great pleasure to announce that the EB-5 Regional Center program will be reauthorized with the Omnibus on March 15, 2022. The text of the Consolidated Appropriations Act, 2022 was just released and Division BB, includes the EB-5 Reform and Integrity Act of 2022. (1/3)— American Immigrant Investor Alliance (@americaniia) March 9, 2022

    https://platform.twitter.com/widgets.js

  29. veedster says:

    Also to Suzanne, who brought all of us together and provided invaluable info and analysis, and promoted AIIA. We couldn’t have done it without her.

    • Krish Vr says:

      I really want to thank Suzanne who provided all the information for us. She is like the one positive person who provides with all the info. When ever I go down her blog made me come back that we will get the reauth. Finally AIIA very good work. All of you. Nice job. Let us get the reauthorization now. I hope the 526 approval will go fast once approved since we will have unused visas from last year. Suzanne how do you look at this once this is reauthorized.

    • Jaimin Deliwala says:

      Suzanne, Ishaan Khanna, Rajvir and other members of AIIA deserves huge gratitude for their untiring efforts. Suzanne blog really acted as balm for frayed nerves and it was only soothing medicine in the midst of misinformation, innuendos, agenda driven comments and cacophony of news and views. Also to some members of regular followers of this blog, who tried to give the correct information and correct perspective about the situation.

      Let us only hope that efficiency at USCIS and US consulates across the Globe improves and EB5 investor community, who have been badly affected by this avoidable mess, gets their woes rightly addressed.

  30. UN says:

    Are you legally permitted to attend school full time with pending I-485 and pending I-765 – as H1B will be cancelled the day one resigns. Has anyone done it?

  31. Rahul says:

    The House did not vote on the EB5 portion of the appropriations bill. However, other portions were voted and passed. What does this mean?

  32. Rahul says:

    seems like it was passed in the second division (portion) of the appropriations bill.

  33. Alex says:

    I saw new bill showing that we can adjust status (file I-485) along with I-526 pending if visa is available. It means we can file I-485 even I-526 is not yet approved if we are in the countries that no visa back log to shorten the time to receive condition greencard faster?

    • DD says:

      I’m also concerned about this issue.

      Page: 2624 + 2625
      (d) CONCURRENT FILING OF EB–5 PETITIONS AND APPLICATIONS FOR ADJUSTMENT OF STATUS. 
      — Section 245 of the Immigration and Nationality Act (8 U.S.C.1255) is amended —  (1) in subsection (k), in the matter preceding paragraph (1), by striking ‘‘or (3)’’ and inserting ‘‘(3), or (5)’’; and (2) by adding at the end the following: 
      ‘‘(n) If the approval of a petition for classification under section 203(b)(5) would make a visa immediately available to the alien beneficiary, the alien beneficiary’s application for adjustment of status under this section shall be considered to be properly filed whether the application is submitted concurrently with, or subsequent to, the visa petition.’’.

    • veedster says:

      Which page?

      • DD says:

        Page: 2624 + 2625

        (d) CONCURRENT FILING OF EB–5 PETITIONS AND APPLICATIONS FOR ADJUSTMENT OF STATUS. 
        — Section 245 of the Immigration and Nationality Act (8 U.S.C.1255) is amended —  (1) in subsection (k), in the matter preceding paragraph (1), by striking ‘‘or (3)’’ and inserting ‘‘(3), or (5)’’; and (2) by adding at the end the following: 
        ‘‘(n) If the approval of a petition for classification under section 203(b)(5) would make a visa immediately available to the alien beneficiary, the alien beneficiary’s application for adjustment of status under this section shall be considered to be properly filed whether the application is submitted concurrently with, or subsequent to, the visa petition.’’.

        Reply

        • veedster says:

          If you are in the USA, maybe. You should talk to your lawyer. Sorry I have no answer for you.

          • Krish Vr says:

            Yes I spoke to my lawyer on this and sounds like yes we can file 485 while 526 is in process.

          • veedster says:

            I am just posting what I saw elsewhere., for what it is worth. •

            With I-526 petitions, concurrent adjustment of status filings of I-485 filings are allowed which means applicants currently in the US on an F-1 student visa, OPT, H-1B work visa, L-1A managerial visa, and other non-immigrant visas can apply for and get Employment Authorization Document (EAD) and Travel Document (TD) in 90-120 days of applying for EB-5 and become free to work anywhere without employer sponsorship.

          • DD says:

            Can my child apply for i485? She is not principle applicant, I am PA. She live in the US now with F1 visa.

  34. RM lokesh says:

    While my I526 is pending processing? Can I file adjustment of status to Green card and EAD?

    please explain how it works??

  35. Krish says:

    Senate passes the bill guys. Now Biden can sign the bill.

  36. Saurabh Khanna says:

    Finally, getting it done … Thanks for all the effort. I really appreciate it

  37. Jaimin. says:

    Can any lawyer, who is contributing or following this blog explain and inform, what is the consequence of reserved Visas for General Investors? Will their wait time lengthens or it has little or no consequential effect?

  38. journey says:

    Does grandfathering start right-away or after 60 days? Currently awaiting for interview

  39. journey says:

    Does grandfathering/interviews start right-away or do we have to wait for 60 days?

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