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  • Jan 15 - Vast Change in EB-5

    Comment: Vast Change In EB5
    The EB5 world starts changing, as of today. Regulators' actions in 2013 began the change, and will surely also be important in 2014 (hint to Federal Regulators: get going!). However, the market is a much larger force than Regulators, and the EB5 market undergoes significant change starting this week, for two reasons which we discuss below.

    Firstly, the largest Regional Center ever approved is in the market for investments as of this week. The size of this Regional Center - LIGTT - is staggering, and bears close study by everyone involved in EB5s, since no one in the EB5 ecosystem will remain untouched by so large an entity - at least 6 times larger than the largest Regional Center hitherto. Let's begin with jobs: 34,000 jobs in Louisiana - 180,000 jobs in 32 states - gigantic numbers never before seen in EB5, and truly large even without reference to EB5 - this is a massive job creator for the United States. LIGTT is an enormous world-class shipping terminal, one of the largest infrastructure projects currently in the country, regardless of method of finance. Annual revenues for LIGTT once fully constructed are expected to be in the billions - again stupendous by historical EB5 standards. The names involved with LIGTT include Bechtel, Patton Boggs, and Dentons - a pedigree unmatched in the EB5 space. We encourage everyone interested in EB5 to check out LIGTT's newly re-launched website: www.ligtt-eb5.com and see what LIGTT is about for yourself.

    However, it is not size alone that makes LIGTT a game changer for EB5, there is a second reason. LIGTT appears to have a high degree of sensitivity to compliance with American law, and hence will likely not do business the way it has so far been done in China. LIGTT now joins several smaller pioneering Regional Centers struggling with bringing compliant practices into the EB5 world. Should all these RCs, including LIGTT, succeed in bringing US-law-compliant practice to EB5, the entire EB5 ecosystem will be forced to adjust to the new rules of compliance. We are betting that the collective efforts of compliant RCs will succeed, because the EB5 market has now reached a size where non-compliance will not remain unnoticed by federal regulators. Compliance is a far bigger game-changer for the EB5 market than the sheer size of LIGTT. Not only will practices and customs have to change, compliance with American securities laws will likely force a structural change to the EB5 field - several players will go out of business all together.

    We applaud LIGTT for coming into the EB5 space, and for its apparent determination to observe compliant practices. 2014 promises to be a tumultuous and exciting year for EB5 - welcome aboard! Share your thoughts by writing to editor@ilw.com.

    Article: "Defining Partnership Of 21st Century": E Visa Possibility For Indian Citizens by Michael Phulwani, David Nachman, and Rabindra K. Singh

    Blogging: 2014 NPTE Exam Dates by Chris Musillo

    Blogging: Debunking the "Permanent Subclass" Argument by Matt Kolken

    News: USCIS Announces Extension of Relief Measures for Filipino Typhoon Victims

    Focus: Forming and Operating an EB-5 Regional Center Book
    ILW.COM is pleased to announce a new book - Forming and Operating An EB-5 Regional Center: A Aguide For Developers and Business Innovators. The Editors for this book are Angelo A. Paparelli and L. Batya Schwartz Ehrens and the Contributing Editor is Maurice Berez.
    The book outline is as follows:

    • Introduction
    • Multiple Players - each with different expectations and conflicting interests in the EB-5 RC process
    • History of Program, Narrowed Scope of the RC Designation over
    • Time, and Challenges Created Along the Way
    • Understanding the Basics of the EB-5 Program for RCs
    • Applying for RC Designation and Amendment
    • Best Practices and tips to avoid common pitfalls and USCIS requests for additional evidence
    • Problems, Concern,s and Best Practices
    • Additional Resources

    For additional information, detailed book outline, and author biographies, please see:
    Online: http://www.ilw.com/books/FormingandOperatinganEB5RegionalCenter.shtm
    Fax Form: http://www.ilw.com/books/FormingandOperatinganEB5RegionalCenter.pdf
    Pre-Publication orders are now being accepted at a discounted price!

    Headline: Is Immigration Reform the Answer to Unfilled U.S. Jobs? Click here
    Headline: In immigration news: GOP legalization ideas, immigrant driver's licenses, border drones and tunnels Click here
    Headline: Republican Ideas on Immigration Could Legalize Up to 6.5 Million, Study SaysImmigration Click here
    Headline: Why Ann Coulter ignores polls that contradict her Click here
    Headline: Why Immigrant Deportations Dropped 30 Percent In Northwest immigration Click here
    Headline: CIR unites families, boosts economy, creates millions of new tax payers Click here

    Help Wanted: Immigration Paralegal
    New York, NY - Klasko, Rulon, Stock, and Seltzer, LLP, a nationally-known immigration law firm has an opening for a paralegal. Required 5+ years of experience including all aspects of PERM applications. Experience with J-1 waivers and petitions for universities, hospitals, and research organizations preferred. Ideal candidates should have strong verbal, written, and organizational skills, be able to handle busy caseload, and have a Bachelor's Degree with excellent academic credentials. Please email your resume, a copy of your college transcript, and a brief writing sample to hr@klaskolaw.com. Information about the firm can be found at www.klaskolaw.com

    Help Wanted: Immigration Paralegals
    Boston, MA - The Boston office of Seyfarth Shaw, LLP, has an immediate opening for two paralegals. These positions will participate in all aspects of the firm's national Business Immigration and Global Mobility practice, including assisting in the management of client relationships, case review and analysis, preparing and filing employment-based nonimmigrant and immigrant petitions, including PERM processing, and serving as a primary contact to numerous prominent clients. Ideal candidate will be able to successfully multi-task, in a fast-paced, deadline driven environment. Must be able to communicate effectively in writing and verbally, and be able to use logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems. Must be able to manage one's own time and the time of others. Junior Level applicants must possess a Bachelor's degree and 1+ years of immigration experience. Senior Level applicants must possess a Bachelor's degree and 4+ years of progressively responsible business immigration experience. Salary is commensurate with experience.

    Help Wanted: Immigration Attorney
    New York, NY - Goldstein & Lee, P.C., with offices in New York and London, is seeking an Associate Attorney with 3+ years of experience exclusively in business immigration with an emphasis on E, L, and H petitions and applications. Experience in preparing PERM applications required. Ideal candidate will also have consular experience with an emphasis on ineligibilities ans waivers. Must be highly organized, with strong work ethic and meticulous attention to detail. Attorney will do general consular work on London office matters. Must be admitted to NY Bar. Written references required. Please send resumes to tammylee@lorsg.com.

    To submit an article or a news item to Immigration Daily, write to editor@ilw.com. Follow ILW.COM on Twitter.

    Letters of the Week:

    ComingsNGoings: Immigration Event
    February 5, 2014 - 9:00-11:00am - The Canada Institute invites all interested parties to attend "Entry-Exit Systems in North America". Comprehensive entry-exit tracking for non-citizens entering and leaving the United States has proven elusive. While non-citizens who enter the US go through a variety of controls, little has been done to track non-citizens when they leave the country. Canada and the US began working together recently to close the loop by counting entry into one country as an exit from the other. Join the Canada Institute for a discussion on the risks, challenges, and rewards of implementing a robust entry-exit system throughout North America. For additional information and to RSVP, please see: http://www.wilsoncenter.org/event/en...north-america?


    An Important disclaimer! The information provided on this page is not legal advice. Transmission of this information is not intended to create, and receipt by you does not constitute, an attorney-client relationship. Readers must not act upon any information without first seeking advice from a qualified attorney. Copyright 1995-2013 American Immigration LLC, ILW.COM. Send correspondence and articles to editor@ilw.com. Letters and articles may be edited and may be published and otherwise used in any medium. The views expressed in letters and articles do not necessarily represent the views of ILW.COM.

    Publisher: Sam Udani ISSN: 1930-062X
    Advisory Board: Jason Dzubow, Rami Fakhoury, Matthew Kolken, Chris Musillo, Lory Rosenberg, Greg Siskind, Joel Stewart, Margaret Wong
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