On July 24, 2020, USCIS issued a Policy Alert titled “Clarifying Guidance for Deployment of Capital in Employment-Based Fifth Preference (EB-5) Category.” The Policy Alert outlines those changes that USCIS made, without prior notice to the public, regarding its policy on “redeployment” of EB-5 capital, including: Clarifies requirements for deployment of capital generally, including providing new language regarding the deployment of capital through any financial instrument that meets applicable requirements as well as explaining how…

On July 21, 2020, the U.S. Citizenship and Immigration Services (USCIS) Ombudsman’s Office published an alert regarding card production delays. According to the alert, in June 2020, USCIS reduced the capacity to print secure documents, including Lawful Permanent Resident (LPR) Cards and Employment Authorization Documents (EAD), after it ended a contract with a third-party card production facility. While USCIS intended to hire federal employees to replace the contractors, the current hiring freeze at USCIS has…

On July 14, 2020, President Trump issued an Executive Order regarding Hong Kong’s preferential immigrant visa chargeability. EB-5 investors who were born in Hong Kong will see their visa availability retrogress from current (C) to a backlog priority date of July 2015. Previously, investors born in Hong Kong were not subject to the mainland China retrogression line under the Immigration Act of 1990 (IMACT 90). This act recognized Hong Kong as a separate foreign…

On June 22, 2020, in Liu v. SEC, the Supreme Court affirmed in an 8-1 ruling that the Securities and Exchange Commission may continue to pursue disgorgement awards under the federal securities law provided that the award is capped at the defendant’s net profits, and further, provided that the award is made for the benefit of wronged investors. In so holding, the Court struck a middle ground by narrowly preserving one of the most…

Due to the COVID-19 pandemic, many U.S. Consulates and Embassies closed temporarily. As of June 20, 2020, some U.S. Consulates reopened, while others remain closed until further notice. Below is an outline of current openings:…

Processing times for many EB-5 related petitions continue to vary. The updated processing times are as follow: Form I-526: Immigrant Petition by Alien Entrepreneur –  29.5 to 61 months Form I-829: Petition by Entrepreneur to Remove Conditions – 25.5 to 47.5 months Form I-485: Application to Register Permanent Residence or Adjust Status California Service Center – 7.5 to 29 months Nebraska Service Center – 8 to 13 months Texas Service Center – 7.5 to 29…

The Executive Order, “Proclamation Suspending Entry of Immigrants Who Present Risk to the U.S. Labor Market During the Economic Recovery Following the COVID-19 Outbreak,” signed on April 23 by President Trump is narrower in scope than his prior statements promising a shutdown of immigration to the United States. The Executive Order bans the issuance of immigrant visas to those physically outside the United States, with certain exceptions. Regarding the employment-based fifth preference category…