EB5 Investors Magazine Volume 5, Issue 2 - Page 51

TOP IMMIGRATION ATTORNEYS preparation of I-526 petitions. Beshara is an active member of AILA and achieved AILA’s highest award for Outstanding Contributions. He serves on AILA’s Global Migration Section Steering Committee and EB-5 Conference Committee. He is also an active member of IIUSA’s Best Practices Committee and New Investor Markets Committee, and the Investment Migration Council’s Advisory Committee based in Geneva, Switzerland. Beshara is an adjunct professor of business immigration law at the University of Florida Levin Law School. EDWARD BESHARA Managing Partner Beshara PA Global Law Firm E dward Beshara is managing partner of Beshara Global Migration Law Firm in Orlando, Florida. He has been exclusively practicing U.S. business immigration law and offering approvable solutions since 1983. Beshara represents corporate clients, foreign- based and EB-5 regional center projects, and foreign nationals in regard to their U.S. immigration and EB -5 goals, including WHAT DO YOU THINK THE FUTURE OF THE EB-5 INDUSTRY LOOKS LIKE? The residency by investment laws are here to stay. The EB-5 program, whether through a direct or regional center investment, offers an effective way for foreign investors to obtain U.S. residency while creating U.S. jobs. The program also allows U.S. businesses to obtain financing for their projects. To compete globally with other countries’ migration programs, adjudication for the U.S. EB -5 immigration process needs to be subs tantially quicker, the University of Pennsylvania Law School, where he is a fellow. Davies also holds a UK law degree and is a solicitor of the Supreme Court of England and Wales. Recognized by the Bush White House for his services to the legal industry, he was appointed as legal advisor to foreign governments on policy issues. Davies was also formerly Chairman of the Board of Directors of Lawyers Without Borders. He speaks and advises on the EB-5 program and other legal matters worldwide. Davis’ clients include financial institutions, governments, corporations and high net worth individuals. MARK I. DAVIES Founder & Chairman Davies & Associates LLC M ark I. Davies is the founder and chairman of Davies & Associates LLC. The company serves its clients from key locations in North America, Australia, Asia, Europe and South America. Davies’ experience as a General Counsel coupled with acting for investment banks and major financial institutions in distressed real estate finance transactions has served him well in his EB-5 practice. He received his J.D from WHAT DO YOU THINK THE FUTURE OF THE EB-5 INDUSTRY LOOKS LIKE? As citizenship and residency by investment gain traction globally, much commentary surrounds how the EB-5 program is cheap compared to other countries’ programs. One consideration is that EB-5 requires an “at risk” investment, while many countries’ with more expensive programs offer lower- risk options, such as bank deposits and direct real estate acquisitions. We may now see increased investment requirements for the EB-5 program. While our company have consistent and transparent, which will allow predictability for all parties concerned. The EB-5 program can be the most popular program globally if we introduce competitive products within the program. WHY DID YOU GET INVOLVED IN THE EB-5 INDUSTRY? For 35 years, I have been helping foreign investors obtain E-2 and L-1 visas so that they may direct their U.S. businesses. The cost of running these businesses is substantial and includes business overhead, operating costs and payroll. The EB-5 regional center program in comparison may not be as costly. The EB-5 investor does not have to worry about directing their own business but can rely on a credible and viable U.S. business managed by others. I began representing EB-5 investors 27 years ago, which was a natural, compatible progression for providing options to clients contemplating E-2 or L-1 visas. lawyers specializing in different programs all over the world, analyzing the competitive effect of such a move compared to other programs is not easy. Several of our clients state that an increased EB-5 investment requirement will drive them to explore lower- risk, not necessarily cheaper, options with other countries. WHAT TRENDS ARE YOU SEEING IN THE EB-5 INDUSTRY? With one of the world’s largest populations of millionaires, India has recently become a hot destination for the EB-5 program and we see a lot of activity in that market. Compared to 5 years ago, tier two and three cities in India are seeing more interest in EB- 5. The question for the future is how much of a chilling effect a meaningful increase in the EB-5 investment requirement will have in India. Direct EB-5 investments from India may not slow as quickly if investment requirements increase. Our firm is seeing a significant increase in the number of direct EB-5 cases filed. EB5INVESTORS.COM 50