EB5 Investors Magazine "Top 25 issue" Volume 9 Issue 1 - Page 98

“ Severe adjudication delays on the part of USCIS has resulted in a wave of Writs of Mandamus being filed against USCIS . These mandamus actions if successful force USCIS to adjudicate the cases promptly ,” says Hirson .
Over the more than 30 years of the EB-5 program , Hirson has logged many miles traveling internationally , throughout Asia , Europe , the Middle East , and several other countries where he has established solid relationships with investors , financial advisors and migration agents .
“ My experience with multiple countries around the world has given me insight into the politics and foreign exchange control regulations ,” says Hirson . “ As such I guide our very professional and knowledgeable office team around the various nuances that arise to show USCIS that the funds for the investment were lawfully obtained and followed a lawful path in getting to the EB-5 project in the US . “
David Hirson and Partners , LLP has been in business for more than 40 years and the firm provides a full range of immigration law services including litigating in federal court in immigration law related cases . Hirson says the firm ’ s reputation and standing in the investor community is of utmost importance to the firm .
“ Our forward-looking approach and our business model to have the clients ’ interests as paramount has made us very successful in the immigration arena with clients as well as with colleagues ,” says Hirson .
His many years of experience and wealth of knowledge has set him apart in the EB-5 industry , including among those who work alongside him .
“ I ' ve always been impressed with David ' s creativity and how he figures out how to make the EB-5 program work for the needs of our clients rather than impose changes on our clients ' needs to fit the constraints of the EB-5 program ,” says David Van Vooren , who leads the Seattle office as a partner for the firm .
REAUTHORIZATION OF THE EB-5 REGIONAL CENTER PROGRAM
A lot has changed since Hirson took his first EB-5 case with the EB-5 program and he has since witnessed the many ups and downs in the program . The most recent being the lapse of the Regional Center program that lasted nearly nine months , until it was reauthorized in March 2022 .
“ After so many years of short extensions of the regional center program we now have a fixed five-year term ,” says Hirson . “ In addition , there is a grandfathering provision that will allow any investor who has started the program to see it through to conclusion even if the regional center program is not reauthorized .”
Changes include investment amounts increasing to $ 1,050,000 for regular areas and $ 800,000 for targeted employment areas ( TEA ) and set asides of 20 %, 10 % and 2 % of certain of the TEA areas for specific subcategories , he says .
“ This potentially will give Chinese investors an ability for a short time to get to the head of the line until the subcategories fill up ,” says Hirson .
Evelyn Hahn , an immigration attorney and a managing partner at the firm , called Hirson “ a true legend and a pioneer in the EB-5 industry ” and says it is an honor to work with him . She says the recent reauthorization of the Regional Center Program means they can now advise their EB-5 clients with more certainty and stability for the next five years .
“ The first positive change is that the USCIS will now accept the concurrent filing of I-526 petition and I-485 Adjustment of Status applications , which means that any of our EB-5 clients , whose I-526 petitions are still pending , can also apply for their AOS applications at any time , so long as their priority date is current ,” says Hahn .
She says the firm is currently very busy handling all of their I-485 Adjustment of Status applications for existing clients , who meet the requirement . She says they are also getting a lot of calls from existing and new , prospective EB-5 developers as well as Regional Center clients , who want to resume and / or start the process of structuring an EB-5 model for their existing and / or upcoming projects .
“ We project that India , Vietnam , and Korea will continue to have a high demand in the EB-5 program , followed by
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