Hello, my name is Vaughan de Kirby, and I am an Investment Immigration Attorney based here in San Francisco. There are two quick subjects I wanted to give you today.
No. 1 is you may have read it in the news that the Trump Administration has said that Congress should either reform EB-5 by September 30, or let the program lapse. Now what this means is really unclear. It is my belief and the belief of many people involved in the industry that what Trump is doing is sending a message to Congress that it should act. The EB-5 Program has been very beneficial to many districts in the United States and we don’t believe that the program is going to be let lapse. However, what we do expect is now Congress is being urged by the President to make changes, which we believe are more imminent now than ever, so you should be forewarned if EB-5 is important to you, don’t wait until after September 30th.
Now another important warning that came up recently with two clients that came in to see me. They told me that they were approached by a project and a developer where the regional center explained to them that the developer would give them a separate letter outside their application, outside their agreement with the regional center and with the developer, and that letter would say your investment is guaranteed, but not to worry, because this letter would not be sent to USCIS. You need to know if you receive an offer like this, you should step away from it quickly, because this amounts to immigration fraud and there have been instances where USCIS learns of this type of agreement and REVOKES the Green Cards of all the applicants. If you’re approached with this type of agreement or offered this type of agreement, discuss it with your Investment Immigration Attorney and don’t invest in that project.
I hope this information was helpful. Please feel free to contact us or call 415-221-2345 if you have any questions.