TOP IMMIGRATION AT TORNEYS
DARREN B. SILVER
DARREN SILVER & ASSOCIATES, LLP
Darren B. Silver is the founding
pa r tn e r of Da r r e n S il ve r &
Associates, LLP. Silver has
a c a r e e r o f o ve r 2 5 y e a r s
e xc l u s i ve l y i n t h e f i e l d of
immigration. Over his career, Silver has enjoyed working
within the different areas of immigration law with an
emphasis on business and investment related immigration.
Silver has devoted a large segment of his practice to the area
of EB-5 and is proud of the work that his firm has contributed
to the EB-5 community. He has successfully filed over 4,000
EB-5-related applications. Silver has been a long-standing
member of AILA, IIUSA and has been awarded a Super
Lawyer in his field.
WHAT ARE YOUR THOUGHTS ON THE
EB-5 MODERNIZATION CHANGES THAT
TOOK EFFECT IN 2019 WITH THE
INCREASED INVESTMENT AMOUNTS?
From a fiscal and inflationary view, the changes were
reasonable and have been long overdue. However, from a
practical view, as with any significant increase in taxes or
fees, a slower, staggered-out increase would have allowed
for quicker acceptance. Because of the dramatic and instant
increase, we are seeing sticker shock and slow acceptance.
However, the good news is that once the shock of the
increase settles in, I strongly believe that investors will come
to the realization that $900,000 is still an extraordinary
reasonable investment amount for U.S. permanent
residency.
WHAT NEW TRENDS ARE YOU
SEEING IN THE EB-5 INDUSTRY?
Due to the higher investment threshold, we are seeing an uptick
in interest from more sophisticated investors. These investors
are looking for projects that offer more competitive and
attractive investment opportunities. In addition, we are seeing
what looks like a cognitive move on USCIS’s part to damper the
waiting times for EB-5 applicants. Specifically, we have recently
seen a more lenient use of Chart B in the visa bulletin, allowing
for those applicants inside the U.S. to file adjustment earlier
than their priority dates. Finally, USCIS has recently announced
changes to adjudication timing to favor those countries that
are not retrogressed.
CHRISTIAN TRIANTAPHYLLIS
JACKSON WALKER, LLP
Christian Triantaphyllis is a
partner at Jackson Walker, LLP
where he focuses his practice
on business immigration
mat ters, par ticularly those
related to EB-5 investments
and investor visas. Triantaphyllis represents foreign
nationals in the filing of EB-5 cases and advises on lawful
sources of investment funds. In his practice, Triantaphyllis
regularly serves as counsel to real estate developers
and regional centers to facilitate EB-5 projects. He also
represents clients to acquire work authorization for
employees and advises on visa options involving startup
companies in the United States. Triantaphyllis has authored
numerous articles and is a frequent speaker on the EB-5
program.
WHAT ARE YOUR THOUGHTS ON THE
EB-5 MODERNIZATION CHANGES THAT
TOOK EFFECT IN 2019 WITH THE
INCREASED INVESTMENT AMOUNTS?
A positive aspect of the EB-5 modernization changes is that
investors, project developers and attorneys now have more
predictability for the foreseeable future regarding the EB-5
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EB5 INVESTORS M AGAZINE
investment amounts. For several years, there was a great
deal of uncertainty as to when and by how much the EB-5
investment amounts would increase, and the EB-5 industry
operated under a series of short-term deadlines anticipating
changes to the EB-5 program. However, there are still
improvements to be made to the EB-5 program, which can
be done more through legislative action that takes a more
holistic approach towards modernizing the EB-5 program.
WHAT TRENDS ARE YOU SEEING
IN THE EB-5 INDUSTRY?
Since the EB-5 modernization changes came into effect, the
EB-5 industry has been focusing on educating foreign
national investors about the increased investment amounts
and new requirements for qualifying as a targeted
employment area. EB-5 developers in 2020 appear more
focused than before on rural, infrastructure and service
industry projects, while at the same time continuing to
market projects in urban locations, resulting in a healthy
variety of offerings in the EB-5 marketplace. EB-5 investors
and brokers around the world remain interested in the
program, and I foresee relationships strengthening among
those who are involved with facilitating the EB-5 immigration
process.