Last week, NES Financial hosted the first webinar in the Navigating a Changing Sector EB-5 webinar series, focused on EB-5 process management.
Industry leaders H. Ronald Klasko of Klasko Compliance and Reid Thomas of NES Financial discussed best practices for managing the EB-5 immigration process in compliance with U.S. Citizenship and Immigration Services (USCIS) requirements.
The webinar addressed a number of pressing EB-5 questions, including:
What should stakeholders expect will happen with EB-5 legislation in the next year?
Though the Regional Center program is once again due to sunset September 30th, most EB-5 experts agree it is unlikely EB-5 reform legislation will pass this year. Instead, many expect another short-term extension as lawmakers continue to work to develop effective new legislation to improve the EB-5 Regional Center program.
How has uncertainty regarding legislative changes impacted investor diligence and project marketability?
Both Klasko and Thomas recently traveled to China and met with investors and agents, gaining insights into the Chinese investor market. While investor due diligence concerns are increasing, recent high-profile incidents of isolated fraud cases in EB-5, the visa backlog for Chinese investors, and long USCIS processing times have had a much more substantial impact on project marketability than ongoing legislative uncertainty.
However, the Regional Center program sunset dates last September and December did drive increased petition filings, as issuers and investors alike prepared for possible changes to EB-5 program requirements.
Next week’s Navigating a Changing Sector EB-5 webinar will answer key questions about EB-5 capital administration, including escrow release triggers, early release trends, and I-526 insurance.
NES Financial welcomes your questions and opinions. Allow us to address your business needs by contacting us. We look forward to hearing from you!
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