Developments on New EB5 Reg

Senator Chuck Grassley Tweeted out the following on the new EB5 Reg today.

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Senator Chuck Grassley @ChuckGrassley
"BIG progress by @realDonaldTrump + admin 2bring real reforms &accountability to flawed eb5 investor visa program New regs cleared by OMB wld bring needed integrity 2program scarred by abuse +natl security problems NEED TO PUBLISH NOW!"

What does a well connected Senator tweeting this out mean? It means that not all folks in the Trump Administration want the new EB5 regulation to see the light of day.

Laura D Francis of Bloomberg Law tweeted today that Michael Valverde, the Deputy Assistant Director of Field Operations of USCIS, says that the regulation is coming relatively soon.

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"Michael Valverde of @USCIS says #EB5 regulations are coming "relatively soon" but can't say exactly when."

You will remember that USCIS Acting Director Cuccinelli on July 1 Tweeted that

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USCIS Acting Director Ken Cucinelli @USCISCuccinelli "Good news! @OMBPress cleared the #EB5 modernization rule last week. This is a good step toward reforming the program so that it more closely aligns with Congressional intent to benefit our economy and create jobs for American workers."

What to make of all the above? On balance, we conclude that the new regulation is coming but that there is also some concerted effort to withdraw the rule.

Just for the record, Immigration Daily has always argued that EB-5 is a jobs creation program (unlike other countries' investment immigration programs) and it is job creation that matters--not the investment amount. We also believe in deep and wide markets instead of shallow and narrow ones. So in our view, it is best to deepen the market by lowering the investment amount, and to increase the total number of American jobs created by raising the number of jobs created per investor. For example, lowering the investment amount to $250,000 and increasing the number of jobs per investor to 20 jobs per investor would make EB5 even more of a jobs engine than it is. We think that increasing the investment amount to $1.3 million will kill the market or make it very shallow--and doing so while keeping the number of jobs per investor the same will hurt American jobs. If there has to be an increase in investment amount we would advocate that (a) it be as small as possible (such as $650,000), (b) doing so with long (6 month) grace period and (c) raising the amount in stages ($50,000 per year across 3 years)--to minimize the negative impact on the market, and keep it as deep and wide as possible. Please let us know your thoughts by writing to editor@ilw.com.

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Focus: Complete Your EB5 Raise

ILW will be conducting events non-stop between the publication of the new EB5 regulation and the end of the grace period. Here is the planned schedule:

H1B to EB5 Events in US EB5 Events in India
Week Zero
Regulation is published
Week One
Assembling Audiences
Week Two
H1B & India Events
US West
Seattle, San Jose, Los Angeles, San Diego, Phoenix
Southern India
Chennai(2 events), Bangalore(2 events), Hyderabad(2 events)
Week Three
H1B & India Events
US East
Boston, New York, Philadelphia, Washington DC, Atlanta
Northern India
Delhi(2 events), Chandigarh(2 events), Ludhiana(2 events)
Week Four
H1B & India Events
US Central
Detroit, Chicago, Dallas, Austin, Houston
Western India
Mumbai(2 events), Ahmedabad(2 events), Baroda(2 events)
Availability Total capacity: 12
Sold: 8
Total capacity: 9
Sold: 3
New Product: Email Marketing to 5,000 H1B to EB5 prospects: Only 4 spots left


Note: The specific dates for the events will be determined as soon as the regulation is published.

ILW has considerable experience conducting simultaneous events across the world. To help our clients make the most of this opportunity, we are surging to our full enhanced capacity to achieve this simultaneous non-stop schedule in US and India.

For more information and details, please call 212-545-0818 or email webmaster@ilw.com or click here .

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