EB5 Investors Magazine "Top 25 issue" Volume 9 Issue 1 - Page 69

Samuel Newbold
TOP ATTORNEYS IN SPECIALIZED FIELDS
RONALD KLASKO
KLASKO IMMIGRATION LAW PARTNERS

H

. Ronald Klasko leads the
E-2 and EB-5 Investors Team at Klasko Immigration Law Partners . They have represented thousands of investors , over 50 regional centers , and many developers . Klasko currently chairs AILA ’ s Administrative Litigation Task Force and served five terms as chair of AILA ’ s EB-5 Committee . He is also a former national president and general counsel of AILA . He is the only person twice honored with the AILA Founders Award for his contributions to immigration law . He has been selected for inclusion in Best Lawyers in America for over two decades . He is the North American Representative of the Investment Migration Council .
WHAT DO YOU THINK ABOUT THE EB-5 REFORM AND INTEGRITY ACT OF 2022 ?
The RIA is a negotiated compromise . Like all compromises , it contains good and bad provisions . The bottom line is that the RIA potentially revitalizes the EB-5 industry , making it stronger than ever with enhanced investor protections . However , the ultimate impact of the RIA depended on the litigation challenging the USCIS ’ position that all regional centers are terminated and must apply for and receive new designations before any project approval or investor petition can be filed . Since it was overturned in court , the EB-5 industry could be stronger than ever . That is why I represented five leading regional centers and IIUSA challenging USCIS ’ interpretation of the RIA .
WHAT IMPACT DO YOU THINK THE PANDEMIC AND THE PROGRAM LAPSE HAVE HAD ON THE EB-5 INDUSTRY ?
The regional center program lapse had a huge impact on every aspect of the EB-5 industry . For investors , it delayed adjudication of I-526 petitions . It resulted in unused quota numbers for investors . It diminished the confidence of investors in the program . Hopefully , the grandfathering provisions in the new law will provide greater confidence level to investors who are concerned about future lapses . For regional centers , the program lapse meant uncertainty regarding development of new projects . Projects in the planning stage had to be delayed , or in some cases , abandoned . The long-term reauthorization of the program breathes life back into regional centers .

Congratulations to

Samuel Newbold
Chair , Immigration Law Group
Named EB5 Investors Magazine 2022 Top 25 Immigration Attorneys
For over a decade , CSG Law ’ s EB-5 and Alternative Capital Teams have successfully counseled EB-5 investors , regional centers , issuers , real estate developers and business operators raising capital through the EB-5 program . We look forward to the next decade of continuing our advocacy and work with our EB5 clients and stakeholders .
Prior results do not guarantee
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