TOP IMMIGRATION ATTORNEYS
H. RONALD KLASKO Founding Member
Klasko Immigration Law Partners LLP
H
. Ronald Klasko is the founding member at Klasko Immigration Law Partners LLP. His 25-member EB-5 team has represented thousands of investors, over 50 regional centers and numerous U. S. developers in using the EB-5 program to raise capital. Klasko has served five terms as chair of AILA’ s EB-5 Committee and as a former national president and general counsel of AILA. As chair of the Best Practices Committee of IIUSA, he worked to develop a comprehensive list of EB-5 best practices. Klasko was named the world’ s most respected corporate immigration lawyer by the International Who’ s Who of Business Lawyers. He is one of three practicing attorneys honored with the AILA Founders Award for contributions to immigration. He has been included in Best Lawyers in America for over two decades. He was invited by the U. S. House of Representatives Committee on the Judiciary to testify on immigration reform and by USCIS and the Department of State to engage in training officers.
WHAT DO YOU THINK THE FUTURE OF THE EB-5 INDUSTRY LOOKS LIKE?
The EB-5 industry is changing. With the significant diminished demand from China, EB-5 capital raises will be smaller and the time to raise the capital will be longer. Developing investor sources in other countries will be critical. Redeployment of EB-5 money will create unprecedented challenges and opportunities. Legislation or litigation to increase the authorized number of investors, as well as legislative reforms to increase transparency and investor protections, are important to the long-term viability of the EB-5 program. In addition, USCIS processing times must be reduced to a level that is compatible with the needs of the stakeholders.
WHY DID YOU GET INVOLVED IN THE EB-5 INDUSTRY?
I gravitated to EB-5 because of the challenge to shape a new immigration program and because EB-5 is a winwin program. My first involvement was in 1991 when I traveled to Asia to present direct investment opportunities to institutions that represented Asian investors. I left EB-5 for several years when the program lost its way, but I have been actively involved for the last decade. The program is a rare example of a government program that serves the purposes of attracting foreign investment, creating jobs and allowing development projects that lacked affordable capital to move forward.
NIMA KORPIVAARA Partner David Hirson & Partners LLP
Nima Korpivaara is a partner at David
Hirson & Partners LLP. Since he joined the practice in 2014, he handles a variety of U. S. immigration issues, including complex matters associated with corporate business structure and EB-5 investor applications. Korpivaara practices in the fields of corporate; investor, including E-2 and EB-5; and family immigration law, representing large and small clients within a variety of industries. This includes temporary and short-term work visas, business visas and permanent residence, including employment-based and family-based visas, and naturalization. Korpivaara has successfully represented thousands of investors in receiving EB-5 green card approval, as well as dozens of regional centers in successfully receiving designation from USCIS.
WHAT DO YOU THINK THE FUTURE OF THE EB-5 INDUSTRY LOOKS LIKE?
I believe the future of the EB-5 industry is strong. While the program was established in the early 1990’ s, the program has really only become global in the last 10 years. As with any new program, there have been bumps in the road, but investor knowledge and project adaptation to the market place has been rapid. If USCIS complies with promulgated regulations on current program issues, the EB-5 program will continue to grow.
WHAT TRENDS ARE YOU SEEING IN THE EB-5 INDUSTRY?
Market trends seem to be a direct result of USCIS adjudicative standards. As we see USCIS become more diligent in denying projects that are not“ shovelready,” we are seeing a rise in projects that are fully-financed, and under construction prior to ever accepting an EB-5 investor. These projects are highly sought after by investors, as job creation is either ongoing or complete at the time of investment. This eases the investors concern on whether or not the project will create the necessary jobs to secure the green card. While this is a positive for investors, the adjudication standards are in direct contrast to the congressional intent of the program.
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