To help EB-5 Issuers during these unprecedented times, JTC Americas, Formerly NES Financial’s EB-5 Administration Solution Suites provide an integrated approach to administering the entire EB-5 program life cycle — from navigating multi-faceted subscription escrow and depository requirements, to streamlining multi-level fund administration, to providing audit trails for issuers, investors and regulators. Now our Solution Suites offer a new enhancement, an EB-5 Retrogression Report, which incorporates the latest EB-5 application data and estimates for applicable processing times.
“Prior to the Retrogression Report, Issuers couldn’t readily determine all of their investor’s retrogression status and would have to manually calculate the visa eligibility by obtaining the current ‘cut-off” dates from the monthly visa bulletin and comparing them to each investor’s priority date, which is time consuming and cumbersome. Both Issuers and their investors can now access current retrogression data through our purpose-built technology,” said Reid Thomas, JTC Americas’ Chief Revenue Officer and Managing Director. “It is important to recognize that retrogression has a substantial impact on the investors and their families, and our Retrogression Reporting feature provides centrally located, real-time reporting tools to help Issuers and their investors.”
The Immigrant Investor Program, more commonly known as EB-5, has struggled in recent years with processing backlogs and insufficient visa availability creating wait times for permanent residency to rise from 6-8 months to over 15 years in some cases. The new EB-5 Retrogression Reporting feature is immediately available to utilize within the technology-enabled fund administration for which JTC Americas is known. Access to visa bulletin data published monthly, as well as historical data, are new key features within JTC Americas’ EB-5 Immigration Workflow Suite.
When retrogression causes investors to rethink their immigration plans, our Immigration Workflow Suite can also help Issuers easily monitor the withdrawal of investor I-526 petitions and the filing of I-407 forms to abandon lawful permanent resident status, or even to identify those who may be at risk of withdrawing before they are forced to abandon their green card dreams.
For additional information about JTC Americas’ EB-5 Administration Solution Suites, including Immigration Workflow and the Retrogression Report, please click here.