EB5 Investors Magazine English Edition Volume 6, Issue 2 | Page 31

TOP IMMIGRATION AT TORNEYS IGNACIO A. DONOSO I.A. DONOSO & ASSOCIATES | FOUNDER Ignacio A. Donoso is a leading business immigration attorney whose career spans 20 years, with par ticular exper tise in visas for EB-5 entrepreneurs, companies expanding operations to the U.S., start-ups and skilled professionals. Donoso founded I.A. Donoso & Associates in 2013, after previously working as partner of FosterQuan, LLP (now Foster, LLP), one of the top immigration law firms in the U.S. Donoso has been selected to serve in many AILA national committees. Donoso has been recognized among the Top 25 immigration attorneys in the United States in 2015 and 2016. Donoso is a frequent speaker at national and international conferences. WHAT TRENDS ARE YOU SEEING IN THE EB-5 INDUSTRY? Investors and regional centers are searching the horizon for predictability. They face issues such as the potential for changes in regulations, new visa waiting lists, and slowing demand for EB-5 visas from key markets such as China, India and Vietnam. At the same time, increased competition for fewer investors is causing available projects to trend toward having higher quality features for investors, such as I-924 approvals, negotiable administrative fees and increased potential for return-on-investment paid to investors. Regional centers and EB-5 investors are likely to emerge from this phase of the EB-5 program strengthened in their roles. WHY DID YOU GET INVOLVED IN THE EB-5 INDUSTRY? The EB-5 program holds great promise for the U.S. by offering lawful permanent resident status based on an U.S. job-creating investment. The merits of the EB-5 program became especially compelling during the economic recession that started in 2008. I recall businesses struggling to find financing and seeking out the EB-5 program as a solution. The EB-5 program created real jobs at a time when capital was scarce and businesses were struggling to survive. The EB-5 program has grown, matured and hopefully will continue to provide an extraordinarily creative and helpful solution for combining investment and immigration to the U.S. ROBERT P. GAFFNEY LAW OFFICES OF ROBERT P. GAFFNEY | ATTORNEY Robert P. Gaffney is a State Bar of California certified specialist in immigration and nationality law. Through the Law Offices of Robert P. Gaffney based in San Francisco, Gaffney has for over 30 years counseled clients in employment, investment and family-based immigration matters. The firm has a strong practice focus on the representation of immigrant investors. Gaffney attended the University of Michigan and is fluent in the Chinese language. His publications include “Practical Approaches to Lawful Source of Funds Issues” in the EB-5 Book (ILW.com 2012/2017) and “Can a Minor File an EB-5 Petition,” in EB5 Investors Magazine (October 2016). WHAT TRENDS ARE YOU SEEING IN THE EB-5 INDUSTRY? Global diversification of the marketplace brings increased competition among offerors seeking to raise capital from a generally more well-informed investor pool. The need to redeploy capital due to lengthy visa wait times for investors from oversubscribed countries has created increased complexities for offerors and investors alike. Investors are demanding greater offeror transparency and are increasingly seeking expert advice from experienced and unconflicted immigration attorneys and financial advisors to support a fact-based project-selection process. To increase investor confidence and develop and maintain market share, the implementation of independent third-party oversight procedures is becoming a recognized best practice for project planners. WHY DID YOU GET INVOLVED IN THE EB-5 INDUSTRY? When the EB-5 program was launched in 1991, taking on immigrant investor cases was a natural outgrowth of our existing employment-based immigration practice. The EB-5 program offered advantages over other visa categories which typically have strict entry requirements and require an offer of full-time permanent employment in the U.S. The EB-5 program allowed us to develop a new class of immigration clients who might lack pre-existing ties to prospective employers or qualified family sponsors in the U.S. but who possess a record of financial success in their home countries, thereby offering new opportunities for diversification of our law firm’s practice. EB5INVESTORS.COM 31