As the EB-5 Regional Center Program is extended to April 28 and the act undergoes major changes, two earth-shattering proposals in Washington have sparked massive panic among the immigration industry in China and the U.S., as well as global EB-5 investors!
One is the astonishing proposal by the U.S. Citizenship and Immigration Services (USCIS) to increase the minimum EB-5 investment amount by up to 3.6 times, which is currently in the public comment phase; the other is a shocking proposal from congressional leaders to cancel the EB-5 Act.
In the face of the chaos surrounding EB-5 reform, senior executives from Worldway Immigration Group visited influential immigration attorneys, securities attorneys, economists, and prominent media figures specializing in the field of U.S. investment immigration.
Former USCIS Director Robert C. Divine and Worldway Immigration Chairman Dr. Winner Xing
Former Chair of the AILA EB-5 Committee H. Ron Klasko and Worldway Immigration Chairman Dr. Winner Xing
GT Law Firm Partner Kate Kalmykov and Worldway Immigration Chairman Dr. Winner Xing
Miller Mayer Law Firm Partner Carolyn S. Lee and Worldway Immigration Chairman Dr. Winner Xing
During the visit, the Worldway delegation learned that U.S. law has already granted USCIS the authority to adjust the minimum EB-5 investment amount, requiring only a 60-90 day public comment period without the need for congressional approval. However, the Trump administration may not necessarily agree with the decisions of the Obama administration, and there will be strong opposition from the immigration industry. This proposal by USCIS demonstrates the administration's determination and appetite for a "price hike" in the minimum EB-5 investment, which will prompt Congress to pass a new EB-5 act as soon as possible.
Meanwhile, the new proposal from congressional leaders to cancel the EB-5 Act, published on the congressional website, indicates that these leaders no longer have the patience to waste time on endless debates over reform. This will push Congress to seek common ground, reach a consensus, and pass a new alternative act as soon as possible.
In short, pressure from the administration and from increasingly dissatisfied congressional leaders will soon bring an end to the endless debates in Congress. The introduction of a new act to replace the current EB-5 Act is just around the corner!
This means that the "price hike" of the statutory minimum EB-5 investment and the redefinition of Targeted Employment Areas (TEA)—which is crucial to the magnitude of the increase and may even affect visa retrogression—are not far off! Of course, as long as no new alternative act is introduced, the threat of the EB-5 Act being permanently cancelled remains!
As a leading institution in U.S. investment immigration, Worldway Immigration not only possesses deep government resources but also has extensive connections in the U.S. investment immigration sector. During this visit to the United States, the Worldway delegation met with renowned U.S. immigration attorneys, securities attorneys, economists, and media figures.
Former USCIS EB-5 Program official Darren Silver (right) and attorney Anibal Sanchez (left)
with Worldway Immigration Chairman Dr. Winner Xing
Renowned securities attorney Ronald R. Fieldstone and Worldway Immigration Chairman Dr. Winner Xing
Renowned securities attorney John D. Tishler and Worldway Immigration Chairman Dr. Winner Xing
Former Chair of the AILA EB-5 Committee attorney Bernard P. Wolfsdorf and
Worldway Immigration Chairman Dr. Winner Xing
Renowned economist Kevin Wright and Worldway Immigration Chairman Dr. Winner Xing
NES Financial Executive Vice President Reit Thomas
with Worldway Immigration Chairman Dr. Winner Xing
Renowned Chinese-American attorney Peng Chunyun and Worldway Immigration Chairman Dr. Winner Xing
EB-5 Investors Magazine Chairman Ali Jahangiri and Worldway Immigration Chairman Dr. Winner Xing
At a time when the EB-5 Act is facing major changes and a life-or-death crisis, Worldway has timely launched three EB-5 projects already approved by USCIS, as well as EB-5 projects that promise guaranteed refunds if investment becomes impossible due to legislative changes. Among these, some projects have already completed all employment metrics required for I-829 condition removal, clearing the most significant obstacle to converting conditional green cards into permanent green cards!
Approved Project 1: An EB-5 project involving Goldman Sachs' "Urban Investment Group," BFC, and funding from New York State and City
Approved Project 2: An EB-5 project that has received I-526 approval and completed the employment required for I-829 in advance
Approved Project 3: An EB-5 project that has received I-526 exemplar approval and has already had several batches of investors successfully approved
Quality Project 4: An EB-5 project co-invested with Jiuding International Phase II Real Estate Fund and the U.S. Pension Foundation
