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

USCIS New Policy Guidelines for Managing EB-5 Visa Petition Inventory & Other Updates Last week, USCIS issued significant Policy Guidelines concerning its stipulated attempt to address fairness concerns with coordinating I-526 petition adjudications with U.S. State Department visa allocations. In its release, USCIS announced that starting March 31, 2020, it will change the adjudication process for Form I-526 Petitions from a first-in, first-out basis to a visa availability approach. USCIS will host a public forum…
This blog shall provide a brief summary of the status of the pending lawsuit related to the New Regulations issued by USCIS and effective November 21, 2019, as well as a status report on pending legislation. Needless to say, the market is in a confused state given the uncertainty of what will transpire going forward. As an industry, we are now dealing with the New Regulations which in effect eliminates non-TEA projects from the marketplace…
For the past 4 weeks, the EB-5 industry has been anxiously awaiting the status of the pending complaint filed in the United States District Court in the District of Columbia by a Florida regional center against USCIS and other related parties in order to block the enforceability of the New Regulations published by USCIS that became effective November 21, 2019 (the “New Regulations”). As a result of such action, industry experts are taking a precautionary…
For the past 4 weeks, the EB-5 industry has been anxiously awaiting the status of the pending complaint filed in the United States District Court in the District of Columbia by a Florida regional center against USCIS and other related parties in order to block the enforceability of the New Regulations published by USCIS that became effective November 21, 2019 (the “New Regulations”). As a result of such action, industry experts are taking a precautionary…
On December 6, 2019, the Treasury announced that the final regulations had been issued and sent to OMB for approval. On December 19, 2019, the final regulations package, totaling over 500 pages, was officially published. Separate blogs will be posted after we digest the contents of the final regulations. “Opportunity Zones are helping to revitalize communities and create jobs for hardworking Americans,” said Secretary Steven T. Mnuchin. “These regulations provide clarity and certainty for investors,…
Saul Ewing Arnstein and Lehr LLP has been extremely active in navigating the current status of the EB5 industry and determining what courses of action need to be taken given the existence of the new regulations (“New Regulations” or “REGS”), the possibility of the pending legislation being adapted, and the recently-filed temporary restraining complaint against USCIS and related parties in order to invalidate the REGS. The current EB-5 Regional Center Program has been extended by…
On September 27, 2019, Francis Suarez, the Mayor of Miami, sponsored an OZ Expo conference for the City of Miami.  Prior to the conference, one of our clients hosted a lunch for the dignitaries who attended the conference that included Secretary of HUD Dr. Ben Carson, Mayor Francis Suarez, the Acting Administrator of the of SBA for the United States, Chris Pilkerton, as well as national and local representatives of the SBA, representatives from HUD,…
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…