TOP IMMIGRATION AT TORNEYS
MONA SHAH
IMMIGRATION ATTORNEYS
EB5 INVESTORS MAGAZINE
U
.K. born, a former British
Crown Prosecutor, Mona Shah
is recognized as an industry leader
in EB-5. Shah has received
numerous accolades, including
Top 25 EB-5 attorney 7 years in a
row; Top 25 Global Migration, Top Lawyer Who International,
amongst others.
Shah has authored numerous articles; is both a published author
and Lexis-Nexis editor. She has spoken extensively both
nationally and overseas; interviewed by news media - Fox
Business, Al Jazeera; featured in international magazines,
quoted in major newspapers, including New York Times, Axios,
Bloomberg. Shah hosts EB-5 Investment Voice Podcasts and is
a part-time adjunct professor at Baruch College, City University
NY.
HOW DO YOU THINK THE EB-5
PROGRAM SHOULD BE REFORMED?
The COVID-19 pandemic, unwittingly, introduced a new
perspective into EB-5, that of counter cyclical projects. While we
will continue to see efforts to resuscitate the hospitality industry,
DARREN SILVER
D
arren Silver is the founding
Partner of Darren Silver &
Associates, LLP. Silver has a career
spanning over 25 years exclusively
in the field of immigration. Over his
career, Silver has enjoyed working
within different areas of immigration law. He has devoted a large
segment of his practice to EB-5 law 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. He has
been a long-standing member of AILA, IIUSA and has been
recognized as a Super Lawyer in his field.
HOW DO YOU THINK THE EB-5
PROGRAM SHOULD BE REFORMED?
The upcoming reauthorization brings with it potential for
significant and fundamental changes. We have a Congress that
is poised to tackle a broken immigration system. We are also
working with a recent underlying investment increase. This
perfect storm could result in a significant extension of 5 to 7
years, or even a possible conversation to a permanent program.
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EB5 INVESTORS MAGAZINE
there is a real shift towards investment in alternative industries
such as IT, transportation, pharma. There has even been an
uptick in local recreational projects that benefited from the
reluctance for air-travel. COVID has forced some projects to
rapidly pivot from a traditional stance, diversity being key to
survival. Another trend has been a marked shift in investment
away from major cities like New York and LA to smaller cities
and rural locations.
WHAT NEW TRENDS ARE YOU SEEING
IN THE EB-5 INDUSTRY?
I welcome Senators Grassley and Leahy’s EB-5 Reform and
Integrity Act which reauthorizes the program to 2026. This bill
includes promoting integrity, curtailing abuses but falls short of
additional reforms that I would have liked to have seen such as
an increase in visa availability, faster adjudication and more
importantly a bifurcation of the process by moving the
adjudication of the project portion from USCIS to the Department
of Commerce. The EB-5 program has brought over 41 billion
dollars into the U.S., creating thousands of jobs. Correctly
handled, the benefits of the program could be tripled.
IMMIGRATION ATTORNEYS
EB5 INVESTORS MAGAZINE
The changes will also include additional oversight and protection
for investors. Finally, the program could see some changes to
the current per country limitations or an adjustment to how
dependents are counted towards the quota.
WHAT NEW TRENDS ARE YOU SEEING
IN THE EB-5 INDUSTRY?
The COVID-19 pandemic pushed the pause button on EB-5
filings...As the country emerges from the pause, we will see a
roaring re-opening of the U.S, economy. This combined with a
new immigrant-friendly administration will have a dual effect to
boost EB-5 popularity. Specifically, the surge in the economy will
assist the regional center project’s business models, many of
which depends on tourism and travel, all poised to explode over
the upcoming months. Further, the individual EB-5 investors will
once again feel confident about not only investing in a thriving
U.S product, but the confidence surrounding the openness of
our immigration system.