The Impact of the RIA on the EB-5 Industry

The EB-5 Reform and Integrity Act of 2022 (“RIA”), was signed into law on March 15, 2022, and was set to reauthorize the regional center program. However, the USCIS deauthorized previously-approved EB-5 Regional Centers, requiring them to refile for redesignation.

A settlement agreement was filed between the United States Citizenship and Immigration Services and several top EB-5 regional center operators and Invest in the USA. The settlement, which affects two cases, has finally put the EB-5 program back on track reauthorizing previously approved regional centers and safeguarding EB-5 investors.

“The settlement provides very specific guidance to previously authorized regional centers on the path forward in terms of what is expected of them to come into compliance with the RIA,” says Lulu Gordon, Senior Vice President & General Counsel, EB5 Capital.

Read the full article in EB5 Investors Magazine here

EB-5 Industry Leaders, USCIS Agree to Joint Settlement of Two Lawsuits

EB-5 stakeholders ensure all previously approved regional centers maintain authorization moving forward

August 25, 2022 – Multiple EB-5 industry stakeholders have entered into a settlement agreement with the United States Citizenship and Immigration Services (“USCIS”) that protects EB-5 investors and re-authorizes previously approved regional centers, effectively signaling the EB-5 program is fully back in business.

The settlement affects two cases: Behring Regional Center LLC, et al. v. Mayorkas, et al., No. 3:22-cv-2487-VC (N.D. Cal.) and EB5 Capital, et al. v. DHS, et al., No. 3:22-cv-3948-VC (N.D. Cal.). The plaintiffs include EB-5 regional center operators: EB5 Capital, CanAm Enterprises, Civitas Capital Group, Golden Gate Global, Pine State Regional Center, and  EB-5IC’s member – Behring Regional Center, and industry organization Invest in the USA (“IIUSA”).

EB5 Capital Seeks Director of People & Culture

Founded in 2008, EB5 Capital is an industry-leading investment company that specializes in raising foreign capital for real estate development projects across the United States. We partner with investors and developers to facilitate capital investment in exciting projects that help revitalize communities, create jobs, and ensure successful immigration to the United States through the EB-5 visa program. Located in Bethesda, MD, we offer an internationally diverse, entrepreneurial work atmosphere that is values-driven and employee-focused. Our growing 30-person team speaks 15 languages and has travelled to nearly 100 countries. We believe our collective diversity and cultural experience enhance our competitive advantage when serving our investors from more than 70 countries.

Job Summary

We are seeking an ambitious, well-rounded professional who is passionate about company culture & employee engagement to join our dynamic growing group. This position will be responsible for managing all human resource functions including recruiting, onboarding, offboarding, employee engagement, benefits administration, and other related tasks. Independence and teamwork are both highly valued. He or she will report to the SVP, Finance & Accounting and work closely with every department.

View Full Job Description

To apply, please send your resume and cover letter to Caroline Ahern at cahern@eb5capital.com

EB5 Capital’s NYC Ritz-Carlton (JF22) Condos Hit Record-Setting Sales

Flag Luxury Group, developer of The Ritz-Carlton Residences, New York, NoMad – Manhattan’s most anticipated luxury hospitality and culinary destination – today announced that 50% of the property’s Residences are already in contract. Douglas Elliman’s Erin Boisson Aries Team is leading sales for the limited collection of 16 perfect pied-à-terre penthouses where buyers enjoy breathtaking views and unmatched luxury experiences while also benefiting from owning a condo that, when not in use, can be expertly managed by The Ritz-Carlton. It was also announced that every contract was signed at the full asking price, and at the highest prices per square foot ever achieved in the neighborhood.

Read the full article here

EB5 Capital Welcomes Federal Court Ruling Enjoining Unlawful USCIS Action

The District Court for the Northern District of California, on Friday, June 24, issued a preliminary injunction in Behring Regional Center vs. Mayorkas et.al. The Court ordered in part that previously designated EB-5 regional centers “must presently be permitted to operate;” this order enjoins the government from implementing its action deauthorizing EB-5 regional centers. This decision clears the way for investors to file new immigration petitions (I-526) under the EB-5 Reform and Integrity Act of 2022.

Read the full press release here