Now it’ s EB5 Investor Magazine’ s turn with the immigration chief.
EB5 Investor Magazine: How satisfied are you with the EB-5 program?
Leon Rodriguez: I am proud of the great successes the program has achieved and of USCIS’ oversight of the program. USCIS has built a to participate in the program has soared, and so has the number of regional centers. Just five years ago, there were fewer than 200 regional centers; today, there are more than 850. In the first three quarters of fiscal 2016, 8,638 investors submitted Form I-526 Immigrant Petition by Alien Entrepreneur petitions seeking participation in the EB-5 program, and USCIS approved 4,781 Form I-526 petitions. Each approved investor represents at least $ 500,000 already invested or obligated toward an NCE-- a new commercial enterprise-- in the United States. In terms of capital coming into the U. S. economy, 4,781 investors equals, in a conservative estimate, nearly $ 2.4 billion in new capital for NCEs.
IPO to work alongside adjudications officers and economists.
The establishment of the new program office has also enhanced USCIS’ partnerships with several other government agencies, including the U. S. Securities and Exchange Commission and U. S. Immigration and Customs Enforcement, to strengthen the EB-5 program.
USCIS continues to hire more staff to assist with the more than 25,000 pending petitions and applications. During the first half of calendar year 2016, more staff and greater efficiencies helped reduce pending I-526 petitions by 12 percent and I-924 regional center applications by 8 percent. strong foundation that supports its administration of the EB-5 program as it fulfills Congress’ intent to stimulate the U. S. economy through job creation and capital investment by foreign investors, while safeguarding national security and program integrity.
The program has existed for more than 25 years and in recent years, has become exceptionally popular. The number of investors seeking
With the increased popularity of the EB-5 program came some challenges, which USCIS is working diligently to address. In 2013, USCIS created the Immigrant Investor Program Office( IPO) in Washington, D. C., to handle EB-5 matters. The agency invested in IPO by hiring staff with expertise in economics, law, business, finance, securities and banking to enhance consistency, timeliness and integrity within the EB-5 program.
USCIS created a Fraud Detection and National Security EB-5 Division and embedded its personnel within
USCIS is taking a variety of steps to improve its administration of the EB-5 program, including establishing an audit program, updating the EB-5 forms, and developing a new data system to enhance our ability to analyze and publish EB-5 data. In the coming months, USCIS plans to translate some of our EB-5 web content into foreign languages, and to continue to work more with the financial industry to alert the agency to instances of potential fraud.
Additionally, USCIS provided briefings and technical assistance
“ USCIS has built a strong foundation that supports its administration of the EB-5 program as it fulfills Congress’ intent to stimulate the U. S. economy through job creation and capital investment by foreign investors, while safeguarding national security and program integrity.”
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EB5 INVESTORS MAGAZINE