{"id":77853,"date":"2022-08-25T14:57:29","date_gmt":"2022-08-25T14:57:29","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=97057"},"modified":"2022-08-25T14:57:29","modified_gmt":"2022-08-25T14:57:29","slug":"eb-5-industry-leaders-uscis-agree-to-joint-settlement-of-two-lawsuits","status":"publish","type":"post","link":"https:\/\/lebanonnewsgazette.com\/eb-5-industry-leaders-uscis-agree-to-joint-settlement-of-two-lawsuits\/","title":{"rendered":"EB-5 Industry Leaders, USCIS Agree to Joint Settlement of Two Lawsuits"},"content":{"rendered":"
EB-5 stakeholders ensure all previously approved regional centers maintain authorization moving forward<\/em><\/strong><\/p>\n WASHINGTON, D.C., Aug. 25, 2022 (GLOBE NEWSWIRE) — Multiple EB-5 industry stakeholders have entered into a settlement agreement with the United States Citizenship and Immigration Services (\u201cUSCIS\u201d) that protects EB-5 investors and re-authorizes previously approved regional centers, effectively signaling the EB-5 program is fully back in business.<\/p>\n The settlement affects two cases:\u00a0Behring Regional Center LLC, et al. v. Mayorkas, et al.<\/em>, No. 3:22-cv-2487-VC (N.D. Cal.) and\u00a0EB5 Capital, et al. v. DHS, et al.<\/em>, No. 3:22-cv-3948-VC (N.D. Cal.). The plaintiffs include EB-5 regional center operators:\u00a0EB5 Capital<\/a>,\u00a0CanAm Enterprises<\/a>,\u00a0Civitas Capital Group<\/a>,\u00a0Golden Gate Global<\/a>,\u00a0Pine State Regional Center<\/a>, and EB-5IC\u2019s member \u2013 Behring Regional Center, and industry organization Invest in the USA (\u201cIIUSA\u201d).<\/p>\n The key stipulations of the settlement \u2013 which can be read in its entirety\u00a0here<\/a>\u00a0\u2013 are as follows:<\/p>\n The settlement comes in the wake of legal action taken to protect the EB-5 industry from USCIS\u2019 decision earlier this year. After the EB-5 Reform and Integrity Act of 2022 went into effect in March, USCIS announced that all previously approved regional centers (those authorized by USCIS before the enactment of the Integrity Act) were categorically deauthorized. The Court determined that USCIS\u2019 action almost certainly committed legal error and would have severely harmed the EB-5 industry while leaving EB-5 investors in limbo. While all parties involved have agreed to the settlement, it is not a final settlement until approved by the court.<\/p>\n \u201cJudge Chhabria\u2019s grant of a nationwide preliminary injunction, and USCIS\u2019 subsequent agreement to a reasonable settlement, enables the EB-5 Regional Center program to move forward contributing to the U.S. economy and creating American jobs,\u201d said Ron Klasko of Klasko Immigration Law Partners. \u201cJudge Chhabria\u2019s thorough and well-reasoned decision provided the essential impetus for USCIS and the EB-5 industry to work constructively in reaching an agreement,\u201d said Paul Hughes of McDermott Will & Emery.\u00a0<\/strong> The EB-5 Program has an overwhelmingly positive impact on the U.S. economy. Between 2008 and 2021, the EB-5 program helped generate $37.4 billion in foreign direct investment to create and retain U.S. jobs for Americans at no cost to the taxpayer.<\/p>\n EB5 Capital provides qualified investors from around the world with opportunities to invest in job-creating commercial real estate projects to obtain U.S. permanent residency, as well as private equity investments and secondary passports. For more information, follow EB5 Capital on\u00a0<\/em>LinkedIn<\/em><\/a>\u00a0and visit\u00a0<\/em>www.eb5capital.com<\/em>.<\/a><\/p>\n EB-5 stakeholders ensure all previously approved regional centers maintain authorization moving forward WASHINGTON, D.C., Aug. 25, 2022 (GLOBE NEWSWIRE) \u2014 Multiple EB-5 industry stakeholders have entered into a settlement agreement with the United States Citizenship and Immigration Services (\u201cUSCIS\u201d) that protects EB-5 investors and re-authorizes previously approved regional centers, effectively signaling the EB-5 program is [\u2026]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31,17,53,343,32],"tags":[],"yoast_head":"\n\n
\n\u201cWe hope this marks the beginning of a new era of cooperation between USCIS and the EB-5 industry,\u201d commented Laura Reiff of Greenberg Traurig. \u201cThis settlement ushers in a regional center program\u00a0that provides\u00a0the\u00a0entire EB-5 ecosystem\u00a0with\u00a0the\u00a0stability and certainty\u00a0needed\u00a0to ensure an optimal program,\u201d stated Jeff Campion from EB-5IC.\u00a0<\/strong><\/p>\nContact:\r\nJuline Kaleyias, VP Business Development\r\nmedia@eb5capital.com<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"