EB5 Investors Magazine "Top 25 issue" Volume 9 Issue 1 - Page 22

Topping off pre-existing EB-5 capital raises following passage of the EB-5 Reform and Integrity Act of 2022

What should be taken into consideration when revamping an offering post RIA .
By Ronald R . Fieldstone and Rohit Kapuria

The passage of the EB-5 Reform and Integrity Act of 2022 ( the “ Act ”) has created some interesting and complicated hurdles for EB-5 Issuers looking to finish pre-Act EB-5 offerings . Setting aside much of the confusion associated with the status of regional centers under USCIS ’ s interpretation of the Act , much of which is playing out in active litigation as of the date hereof , there remains much in the Act that requires policy guidance from USCIS (“ Policy Guidance ”).

In the absence of such Policy Guidance , the authors have worked on a number of pre-Act offerings wading through the disclosures necessary to ensure that the differing treatments and allocation of obligations are
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