Since its creation in 1990, the EB-5 Immigrant Investor Program has allowed thousands of foreign nationals to receive U.S. green cards and permanently immigrate to the United States. The program allows applicants to become eligible for U.S. green cards if they invest a minimum of $1.8 million, or $900,000, in a qualifying EB-5 project. While it has helped many achieve their dreams of relocating to the United States, it is still a very complex process that can be difficult to navigate. There are constant questions regarding the program’s requirements and the EB-5 adjudication process of United States Citizenship and Immigration Services (USCIS). On November 10, 2020, those considering an EB-5 investment will have an opportunity to have many of their questions answered.
Invest in the USA (IIUSA), an industry trade association, will be holding a two-week conference that convers multiple EB-5 topics. Normally this conference would take place at an in-person venue, but due to health concerns from the COVID-19 pandemic, it will be a virtual conference held online. Sarah Kendall (chief of the Immigrant Investor Processing Office) and Charles Oppenheim (chief of the Visa Control and Reporting Division at the U.S. Department of State) will be the guest speakers. IIUSA has also made it clear that this event will be informative and engaging despite being virtual.
The conference will take place over a two-week period to better accommodate participants with a busy schedule. Those who are not IIUSA members can still join the conference and participate, though the ticket prices are higher: For IIUSA members, tickets are $150, and for non-members, tickets are around $200. IIUSA members have also had the chance to submit questions for Sarah Kendall to answer during the conference. The questions cover many different EB-5 topics, including the following:
- Why are the estimated processing time ranges and the historical national average processing times so different?
- Will program participants with active EB5 investments who redeployed their capital before the deployment guidelines were modified in July 2020 now be negatively impacted?
- Why does USCIS require project documentation from all investors in a single project even when there have been no project changes?
- Is USCIS likely to furlough employees in FY2021, considering its financial instability in FY2020?
- How can sparsely populated states like South Dakota, Alaska, and Maine receive EB-5 regional center coverage amidst the numerous terminations based on low investor activity?
One ticket allows access to all panels, so participants can tune in as they choose. Those involved with an EB5 investment should be sure to purchase a ticket for the chance to learn any new important information regarding the EB-5 program.