TOP IMMIGRATION AT TORNEYS
DANIEL B. LUNDY
KLASKO IMMIGRATION LAW PARTNERS, LLP
Daniel Lundy is a par tner
with Klasko Immigration Law
Partners LLP, heading its EB-5
d eve l o p e r/r e g i o n a l c e n te r
practice and litigation practice.
Lundy represents developers
and regional centers who seek to raise money through
EB-5. Lundy represents many clients in troubled EB-5
projects, including matters involving SEC complaints and
allegations of fraud or misappropriation, where he helps to
preserve the immigration interests of investors throughout
the restructuring of those projects. Lundy has extensive
experience litigating immigration cases in the federal
courts and is frequently retained to help with RFEs, NOIDs
and appeals of USCIS denials. He received his Juris Doctor
from Fordham University.
WHAT ARE YOUR THOUGHTS ON THE
EB-5 MODERNIZATION CHANGES THAT
TOOK EFFECT IN 2019 WITH THE
INCREASED INVESTMENT AMOUNTS?
The increased investment amount and restrictions on
TEAs will drive EB-5 projects smaller and out of major
metropolitan areas. Because it will take longer to raise
money at the increased investment level, very large EB-5
capital raises will become rare. We will see more projects
where the investors are the developers, or the developers
bring their own investors.
WHAT NEW TRENDS ARE YOU
SEEING IN THE EB-5 INDUSTRY?
EB-5 processing times have slowed substantially, resulting
in many mandamus lawsuits being filed to compel USCIS to
adjudicate petitions. Denial rates seem to be on the rise, so
lawsuits challenging denials will become common. We are
likely to see the resolution of some of the bigger fraud cases
in the near future. RFEs and NOIDs are becoming more
common, and investors will have to work harder to file strong
petitions. While EB-5 has never been simple or easy, it is
likely to increase in complexity in the near future. Disputes
over redeployment are also likely to become more prevalent.
BRANDON MEYER
MEYER LAW GROUP
Brandon Meyer is the founder
and managing par tner of
M e y e r L a w G r o u p ( M L G) ,
w h e r e h e p r ov i d e s q u a li t y
legal representation to clients
ranging from EB-5 regional center operators and individual
investors to multinational corporations. Involved in EB-5
since 1998, Meyer has seen the multiple life cycles of the
EB-5 program. Meyer received his law degree from the
University of San Diego School of Law and is a member of
the Bars of Connecticut and the District of Columbia. MLG
is headquartered in San Francisco and has offices in Los
Angeles, San Diego and Vietnam.
WHAT ARE YOUR THOUGHTS ON THE
EB-5 MODERNIZATION CHANGES THAT
TOOK EFFECT IN 2019 WITH THE
INCREASED INVESTMENT AMOUNTS?
After 28 years at the $500,000 level, it was inevitable that the
minimum investment amount would increase. The EB-5
industry has yet to come to grips with this reality and is holding
itself back in the process. Nine hundred thousand dollars is
still far less than many other competing programs, none of
which can offer the benefits of U.S. permanent residency. The
world is still full of $900,000 investors wishing to move to the
U.S. The “modernization” that has the greater and more
negative impact is the change in targeted employment area
designation. The EB-5 industry will struggle under these new
rules.
WHAT NEW TRENDS ARE YOU
SEEING IN THE EB-5 INDUSTRY?
Once quota backlogs hit mainland China, then Vietnam,
wholesale EB-5 investor sourcing came to an end. The
industry has yet to fully come to grips with this fact. The
investor market is now more diffuse worldwide and
domestically, but the old mindset of “I remember the days
when 20 people would sign up at the end of the seminar” still
persists. This five-year bubble grossly distorted the EB-5
market and led to conditions that created questionable
industry practices. The end of the China market coupled
with EB-5 program “modernization” gives the industry an
opportunity to rightsize itself and clean up some of the
emerging mess from the bubble years.
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