EB5 Investors Magazine "Top 25 issue" Volume 9 Issue 1 - Page 26

" All in all , topping off a pre-Act offering is even more complicated than setting up a new offering entirely ."
accrued and unpaid interest / referred returns to NCE and how y % is distributed among the investors given timing differences .
Need to address potential differences in escrow release provisions for pre-existing investors and post Act investors .
“ Class B Members ”). As of the New EB-5 Legislation , the investment amount of the Project ( assuming TEA classification ) has been increased to $ 800,000 .
There could be a Co-Sponsoring Regional Center that has filed for approval , post-Act , and would , as a result , need to be disclosed .
There could be a potential that a separate EB-5 offering was set up raising capital from direct EB-5 investors during the lapse of the Regional Center Program between July 1 , 2021 – March 15 , 2022 .
There could be up to three ( 3 ) classes of EB-5 Investors who have invested different amounts .
There could be multiple owners of the Manager or more than one Manager / General Partner .
The structuring depends upon whether EB-5 is / was structured as a loan model or a capital contribution / preferred equity model .
Given the split of jobs between the classes of investors , there would need to be an appropriate job creation allocation agreement .
Need to address distribution of funds and how x % is
Ronald R . Fieldstone , chair and partner of Saul Ewing Arnstein & Lehr LLP ’ s Global Immigration and Foreign Investment Practice , routinely serves as corporate / securities / real estate counsel in EB-5 immigrant visa investor offerings for an array of industries . Both developers and regional centers rely on his advice in these deals , resulting in his track record of handling more than 400 EB-5 projects with a combined capital raise in excess of $ 8 billion . He is chair of the firm ' s Opportunity Zones and Qualified Opportunity Funds Practice . Fieldstone received his undergraduate degree and his MBA from the Wharton School of Business and his law degree from the University of Pennsylvania .
Rohit Kapuria , vice chair and partner of Saul Ewing Arnstein & Lehr LLP ’ s Global Immigration and Foreign Investment Practice , handles private offerings under the EB-5 investor visa program . Kapuria regularly represents EB-5 lenders , EB-5 borrowers , banks , regional centers , real estate developers , investors working on direct EB-5 projects , and migration brokers . He has worked on over 500 EB-5 transactions , with a combined capital development cost in excess of $ 7.5 billion . He has received regular recognition for all of his efforts from the EB-5 industry at large and was also named Top 40 Illinois Attorney Under 40 to Watch in 2021 .
Sources :
1 As of the date hereof , it is not clear whether the eligibility for the reserved visas would apply only to post-enactment investors or whether pre-enactment investors may also be able to rely on them .
26 EB5 INVESTORS MAGAZINE