TOP IMMIGRATION AT TORNEYS
ROBERT P. GAFFNEY
LAW OFFICES OF ROBERT P. GAFFNEY
R o b e r t P. G a f f n e y i s a
California State Bar-certified
specialist in Immigration and
N a t i o n a l i t y L a w. T h r o u g h
the L aw O f f ic es of Rob e r t
P. G a f f n e y b a s e d i n S a n
Francisco Gaffney has for over 30 years counseled clients
in employment-, investment- and family-based immigration
matters. The firm has a strong practice focus representing
immigrant investors. Gaffney attended the University
of Michigan, Center for Chinese Studies and is fluent in
Mandarin. His publications include “Practical Approaches
to Law ful Source of Funds Issues” and “Issues and
Approaches to the Preparation of I-526 Petitions for Minor
Petitioners”.
WHAT ARE YOUR THOUGHTS ON THE
EB-5 MODERNIZATION CHANGES THAT
TOOK EFFECT IN 2019 WITH THE
INCREASED INVESTMENT AMOUNTS?
The 80% increase in the minimum capital requirement has
altered the profile of the investor pool, effectively pricing out
many early to mid-career immigrant investors who would be
able to contribute their talents and energies to the
development of U.S. communities but who do not have the
sufficient means to invest at the new level. Priority date
retention under the new rule, while positive, unnecessarily
fails to provide for deserving investors in troubled projects
who have already become conditional residents. Delaying
TEA determinations until the time of I-526 adjudication and
the lack of clarity in TEA adjudication standards creates an
uncertainty about this critical determination.
WHAT NEW TRENDS ARE YOU SEEING
IN THE EB-5 INDUSTRY?
The substantial increase in investment amounts and other
changes under the new rule have a chilling effect on the
industry and further aggravate the severe negative impact
of oversubscription and adjudication delays. The intense
pre-rule marketing efforts were relatively successful in
producing many new investors but left a shortage of
“untapped” investors in the marketplace. This has resulted
in tremendous competition among projects for new
investors. Increasingly investors are looking closely at deals
and creating a premium on project differentiation, including
factors such as expedite and/or exemplar approvals, project
location, deep administrative fee discounts and more
attractive prospective returns on investment.
MATTHEW T. GALATI
THE GALATI LAW FIRM
With significant experience in
immigration law, Matthew T.
Galatit has handled matters
relating to nearly every visa
type. Galati has focused the
majority of his practice on EB-5 and E-2 related matters
and has prepared hundreds of petitions. With experience in
litigation predating law school graduation, Galati frequently
represents EB-5 investors seeking relief from unreasonable
USCIS delays and legally unsound denials. He is a member
of the American Immigration Lawyers Association and
serves on its EB-5 National Committee and the Philadelphia
chapter’s Executive Committee as its vice chair.
WHAT ARE YOUR THOUGHTS ON THE
EB-5 MODERNIZATION CHANGES THAT
TOOK EFFECT IN 2019 WITH THE
INCREASED INVESTMENT AMOUNTS?
Unfortunately, the Department of Homeland Security ignored
the overwhelming opposition to the so-called modernization
changes. Given the sharp increases in the minimum capital
required, I think the U.S. risks losing immigrant investors to other
countries. That said, we have seen other programs amended to
make them less attractive and then rebound. I am confident this
will happen with EB-5 – but it will take some time. However, there
are new opportunities. The new EB-5 rules will drive regional
centers to explore new and creative offerings that will be to the
benefit of the U.S. economy, especially in areas previously
overlooked.
WHAT NEW TRENDS ARE YOU SEEING
IN THE EB-5 INDUSTRY?
USCIS’ trend of delaying adjudications throughout 2019 was
very disappointing. Many of my clients lost patience with petition
processing, especially given radical changes in the visa bulletin.
I have represented dozens of clients in lawsuits against the
government aimed at breaking the adjudication backlogs. There
are no guarantees in federal court, and this certainly is not a one-
size-fits-all solution. However, we have seen significant
successes thus far, even among plaintiffs within the so-called
“normal” processing times. I think the need for litigation
representation will continue unless and until USCIS starts to
offer more regularity and predictability in petition processing.
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