In its response to the OIG report, USCIS argues against the responsibility to gauge EB-5’ s economic benefit. Frankly speaking, who can blame the USCIS for not wanting to be responsible for tracking the murkiest, most complex part of the EB-5 program? Clearly, this responsibility must be shifted to a different agency— an agency that possesses the necessary expertise and adequate resources to track indirect and direct job creation.
Let’ s allow USCIS to focus on drafting new and improved EB-5 regulations that are consistent with the statute. Let’ s let USCIS take their limited resources and cooperate with other agencies to keep everyone on the path toward integrity, consistency and overall improvements to the program forged by Deputy Secretary Mayorkas while he served as USCIS director. Let’ s not dilute their ability to effectuate change by spreading their resources too thin. Let’ s also hope that USCIS does not forget how important open and ongoing dialogue with the public is; surround sound communication is key.
Conclusion
As more foreign investors immigrate to the United States, there are sure to be sensational headlines. While the negative press of the year past was disheartening for the EB-5 community, it may serve as a catalyst for welcome reform. Because of recent investigations, the EB-5 community is wiser than we were a year ago. We have welcomed the increased transparency, dealt with the scrutiny, and are looking forward to increased professionalism and additional oversight by the government.
In order for the EB-5 industry to continue down the path to becoming a mainstream financing option, reputable developers and regional centers must continue to enrich the offerings of the program. The key to advancement of the EB-5 program lies in carefully orchestrated and committed interagency cooperation and ongoing, open dialogue with the stakeholders. This will only be effectuated with both legislative action and regulatory overhaul. Such collaboration needs to include ongoing dialogue between agencies. The coming year is certain to be a roller coaster, but I am confident that reform and interagency cooperation will foster the necessary confidence, consistency, and integrity that we need in the EB-5 program.
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Dawn Lurie leads the EB-5 industry practice at Polsinelli PC in the
Washington D. C. office, and has more than two decades of experience working with the EB-5 program. Publications including Chambers, Best Lawyers, Legal 500, and Who’ s Who Legal, have ranked her as a leading business immigration lawyer. She regularly works with regional centers, investors, and developers on EB-5 deals and focuses on compliance and due diligence issues. Dawn writes about and speaks on this topic and is frequently quoted in national media. She is also a recognized national expert in Form I-9 compliance and other
Dawn Lurie immigration visa processes.
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