EB5 Investors Magazine "Top 25 Awards Edition" Volume 8 Issue 1 - Page 41

TOP IMMIGRATION AT TORNEYS REBECCA SINGH R ebecca Singh is a Partner with Mona Shah & Associates Global. As an advanced EB-5 practitioner, Singh works with numerous developers and individuals, analyzing and crafting entrepreneurial, direct- pooled, and regional center EB-5 projects. She is well versed in USCIS compliance, offering advice on policy and integrity measures. Singh is also highly proficient at investor petitions and has successfully filed complex source of funds issues from clients worldwide. Singh has published articles with AILA, LexisNexis and Immigration Daily. Singh is a member of Leadership and Public Policy Committee for Invest In the USA as well as an active member of the American Immigration Lawyers Association . HOW DO YOU THINK THE EB-5 PROGRAM SHOULD BE REFORMED? The sunset date of June 30, 2021, is nothing new to the EB-5 industry. I am confident that the EB-5 program will continue as it has done so in the past years. However, reform is long overdue. First, the program needs long-term reauthorization. Second, more visas or removal of dependents from the visa count is IMMIGRATION ATTORNEYS EB5 INVESTORS MAGAZINE important. In addition, integrity measures have always been a concern; oversight and liability of issuers must be addressed to ensure the continued success of the program. Clarity is also needed on the scope of regional centers, especially on the termination of regional centers and the protection of investors. Last, streamlining adjudication processing times is vital. WHAT NEW TRENDS ARE YOU SEEING IN THE EB-5 INDUSTRY? COVID-19 has impacted investments and industries throughout the world, but we have seen success in projects even through this difficult time. Counter-cyclical projects have survived as demand for their services or products continued regardless. We have seen creativity and ingenuity as projects diversify within its industry. Technology has given new meaning to investor meetings and deal closures. EB-5 investors have become savvy understanding what projects have encountered during the past year and thinking of nontraditional businesses. The EB-5 market is also seeing more equity deals and entrepreneurial projects with the increased investment amounts. The EB-5 program is much needed at this time to boost and revitalize the U.S. economy. CHRISTIAN TRIANTAPHYLLIS C hristian Triantaphyllis is a partner and chair of the Investment Immigration practice at Jackson Walker, LLP, where he focuses on business immigration matters, particularly those related to EB-5 investments and investor visas. Triantaphyllis represents clients in the filing of EB-5 cases and advises on lawful sources of funds. Triantaphyllis regularly serves as counsel to real estate developers and regional centers to establish EB-5 projects. He also represents clients to acquire work authorization for start-up companies and advises on compliance matters involving USCIS, CBP, and the Department of State. Triantaphyllis has authored numerous articles and is a frequent speaker on the EB-5 program. HOW DO YOU THINK THE EB-5 PROGRAM SHOULD BE REFORMED? I expect the EB-5 regional center program to be reauthorized in 2021. Whether reauthorization occurs by June 30, or later in the year perhaps again attached to the omnibus spending bill, is still undetermined, but with a draft of the EB-5 Reform and Integrity IMMIGRATION ATTORNEYS EB5 INVESTORS MAGAZINE Act of 2021 already released that addresses regional center integrity measures, longer term reauthorization of the program, increased investor protection, and attempts to accelerate processing times, the EB-5 industry may be in position to thrive for the foreseeable future. WHAT NEW TRENDS ARE YOU SEEING IN THE EB-5 INDUSTRY? COVID-19 has caused both predictability and unpredictability, resulting in various trends in the EB-5 industry. EB-5 investors have focused more on conservative real-estate investments, often on already funded projects or projects involved in residential construction. USCIS values investors who are involved in COVID-19 related medical fields, as expedite processing has been granted for I-526 petitions and green cards applications for such EB-5 investors. Less predictability has arisen though regarding U.S. embassies being open to issue EB-5 visas, as well as USCIS petition processing times, which has resulted in an increase in EB-5 litigation to induce the government to act on long pending immigration filings. EB5INVESTORS.COM 41