OZ and EB-5 Investments

The blog for insights and updates on Opportunity Zone and EB-5 Investments

Latest from OZ and EB-5 Investments

Updated Information After the Annual IIUSA Meeting Held in Washington, DC May 6 and May 7, 2019 IIUSA hosted a very targeted annual conference in Washington, D.C., to discuss the status of the EB-5 industry and focused on various specific matters of interest to the group. The major takeaway from the meeting was a speech by Charles Oppenheim, Chief Analyst for USCIS, who provided overall information related to retrogression in various countries, the visa backlog,…
Five attorneys of the Saul Ewing Arnstein & Lehr LLP firm attended the annual OZ Expo Conference in Las Vegas.  The conference was very well attended with an estimate of 1,400 participants and further solidifying that the OZ Expo team is best in class with its reach and expertise in this space.  The two-day event had an extremely diversified agenda that addressed many of the issues currently faced in the industry.  Takeaways from the…
The Treasury Department has just released the second round of proposed regulations on opportunity zones. This 169-page regulatory package addresses some of the questions raised after the first round of regulations, and may make it easier for operating businesses to qualify as eligible opportunity zone investments. In addition, recognizing concerns about whether opportunity zone investments would have the appropriate social impact, Treasury Department announced that it may request more information reporting to help it gather…
The OZ industry is experiencing some degree of frustration due to the delay in the updated proposed regulations being issued by the Treasury Department.  It is believed that the new draft proposed regulations have already been prepared and sent to OMB for comment and approval before being released.  We understand that OMB takes up to thirty (30) days to complete that process and may have already provided further comments to the Treasury Department in which…
Recent Proposed Regulations Recently, USCIS has sent new regulations related to the EB-5 Program to the Office of Management Budget (“OMB“).  Thereafter, the proposed regulations would then be sent to the General Accounting Office (“GAO“) and then will be subject to administrative approval.  It is difficult to predict what the net result of the regulations will be, including the increase in the investment amounts for both non-TEA and TEA designated projects, and the potential for…
Current Press The Opportunity Zone industry has been receiving continuous press, almost on a daily basis.  The latest article I received was a report in the February 27, 2019 Wall Street Journal on page B6.  It is entitled “Investors Rush to Beat Clock Ahead of Change in Tax Rules.”  The article talked about McDougal Cos.’ recent purchase of an 8,000 square foot former movie theater in Lubbock, Texas, for conversion of same to…
The Opportunity Zone industry is getting substantial attention, as noted by the enclosed article published by the New York Times related to “Wall Street, Seeking big tax Breaks, Sets Sights on Distressed Main Streets.”  Obviously, OZs are receiving mixed attention given the fact that a significant amount of OZ transactions will take place in regentrified areas that are highly desirable and not necessarily distressed.  It is anticipated that the new proposed regulations should be…
Saul Ewing Arnstein & Lehr LLP attorneys Ronald Fieldstone, Rohit Kapuria, Jay Rosen and Roger Bernstein attended the Opportunity Zone Expo Conference in Los Angeles on January 25, 2019.  Much to their surprise, the attendance was over 1,000 people, which may be a record from an OZ attendance standpoint. The program itself was extremely well presented and in attendance were representatives from all disciplines, including fund managers, fund advisors, private equity firms, developers, investors, professionals,…
I just attended the combined AILA/IIUSA Conference in Chicago.  The low attendance reflected the general mood of the industry that there is significant pull back in EB-5 investments in various jurisdictions, especially in mainland China and Vietnam.   During the meeting on Tuesday, October 30th, Charles Oppenheim, Chief, Immigrant Visa Control and Reporting, U.S. Department of State, announced potential visa retrogression.  The relevant chart is attached to this Blog.  As is noted, it is predicted…
The Follow Up To IIUSA Meeting In Washington, DC On April 23, 2018 And April 24, 2018 IIUSA had its annual meeting in Washington, DC. The meeting focused a lot on the status of the industry, retrogression, new legislation and collective marketing efforts. Charles Oppenheim, a key employee of USCIS, gave a presentation on the state of adjudications in the industry, and based upon questions asked by the audience, confirmed the following: At this time,…