EB5 Investors Magazine "Top 25 issue" Volume 9 Issue 1 - Page 41

TOP IMMIGRATION ATTORNEYS
PARISA KARAAHMET
FRAGOMEN

Parisa Karaahmet is a senior partner at Fragomen ’ s New York office , where she manages corporate accounts and leads a large team focused on individual and complex immigration matters . She is also a member of the firm ’ s Global Executive Committee and EB-5 Compliance Committee . On the corporate compliance advisory group side , she represents a variety of companies in their immigration matters . Prior to joining Fragomen , Karaahmet served as an Assistant District Counsel and Acting Deputy District Counsel for the Immigration & Naturalization Service , New York District . She speaks at international and national conferences on a variety of immigration topics , and has provided immigration advice and guidance on a pro bono basis to a number of organizations and individuals .

WHAT DO YOU THINK ABOUT THE EB-5 REFORM AND INTEGRITY ACT OF 2022 ?
The provisions in the Act are helpful and necessary for the EB-5 industry . Providing a 5-year reauthorization of the regional center program will decrease the uncertainty that investors faced in the past and make the program more attractive versus other worldwide residency programs . The provisions regarding reserved visas , priority processing , and ability to file concurrent adjustment applications should speed up the timeline for permanent residence and are important to the program ’ s success . However , USCIS needs to speed up overall processing of petitions , as the current backlogs make it difficult for investors and their family members to complete the process in a reasonably timely manner .
WHAT NEW TRENDS ARE YOU SEEING IN THE EB-5 INDUSTRY ?
Since the implementation of the Act and the U . S . District Court decision in Behring , we have seen considerably renewed interest in the EB-5 program by potential investors , particularly F-1 students who find the concurrent adjustment of status filing provision to be very attractive . The fact that the program has been reauthorized for five years has brought stability to the EB-5 industry and has allowed for more definitive planning by regional centers and project developers . Moreover , it has given investors confidence that the U . S . government is committed to the success of the program .
NIMA KORPIVAARA
KLD LLP

Recognized nationally in

EB-5 law , Nima Korpivaara has advised a multitude of developers , project principles and regional centers on EB-5 program compliance . He primarily works within the immigration practice at KLD LLP , counseling corporate clients and individual EB-5 investors on the EB-5 program ’ s USCIS requirements and processes .
WHAT DO YOU THINK ABOUT THE EB-5 REFORM AND INTEGRITY ACT OF 2022 ?
Securing grandfathering for current investors was a huge win , and rectified an injustice . However , the bill as a whole is very poorly drafted . For all the support within Congress , the bill very much feels like it was rushed , and begrudgingly prepared . The lack of definitions and clear guidance will result in USCIS taking the most draconian position on each and every issue . USCIS adjudication and rulemaking will result in endless lawsuits , just so stakeholders and investors can have a competent filing process .
WHAT NEW TRENDS ARE YOU SEEING IN THE EB-5 INDUSTRY ?
The passing of the EB-5 Reform and Integrity Act evidenced just how much pent-up demand there is for the EB-5 program . Investors are eager to secure their fastest entry into the USA . The Integrity Act has provided at least two new channels to expedited visa processing through visa set asides for Rural and Infrastructure . We have to see if USCIS follows congressional intent on expedited processing , but I believe we will see rise in public / private projects that meet the visa set aside definitions . EB-5 will once again be at the forefront of economic development and job creation for the communities that most need it .
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