A NEW ERA FOR EB-5 STARTS TODAY!

The New EB-5 Regulations: Effective On November 21, 2019 to 2024. Under a   new rule  published by the U.S. Department of Homeland Security, the EB-5 Immigrant Investor Program had the following changes:

Increased Minimum Investments: NEW ERA

The minimum investment in a TEA (Targeted Employment Area or Rural Area) increases to $900,000 (from $500,000). The standard minimum investment amount in a Non-TEA or Non-Rural Area increases to $1.8 million (from $1 million).

Targeted Employment Area (TEA) Designations: MORE CUMBERSOME

DHS (U.S. Department of Homeland Security) will now directly review and determine the designation of high-unemployment TEAs; they will no longer rely on TEA designations made by each State government. Specially designated high-unemployment TEAs will now consist of a calculation of combined adjacent census tracts, which is more restrictive than the present TEA calculation. Therefore, most TEA locations today will not be TEA’s after November 21, 2019. This will result in most EB-5 Regional Center Projects requiring US$1.8 million as the EB-5 investment amount.

DHS with the filing of the I-526 Petition will adjudicate the TEA destination. The uncertainty for the EB-5 Investor and EB-5 Project will be definitely cumbersome. That is, will the EB-5 Investor take the risk that the TEA request may not be approved, and as a result will lose their ability to move forward with the EB-5 process unless they invest an additional $900,000.00. Alternatively, will the EB-5 projects be willing to return the EB-5 $900,000 investment to the EB-5 Investor if the TEA request is not approved?

If you have any questions, please  contact us . Edward Beshara Managing Partner

Our Firm's News

ORRA’s 2019 REALTOR® EXPO - October 15, 2019

Edward Beshara attended and sponsored the Orlando Regional Realtor Association ORRA’s 2019 REALTOR® EXPO on Tuesday, October 15, 2019. The Expo was a great opportunity to meet face-to-face with real estate service providers including Builders and developers, Mortgage, Title companies, Marketing and technology, Home inspectors, Virtual staging & photography and so much more! Edward is an ORRA affiliate member.

9th Annual IIUSA EB-5 Industry Forum - October 28 to 30, 2019

Edward Beshara attended and was a panel speaker at the 9th Annual IIUSA EB-5 Industry Forum in Seattle starting on Monday, October 28 to Wednesday, October 30, 2019. The EB-5 Industry Forum is the year’s premier EB-5 conference focusing on education and business development on a global scale. Edward's panel titled "EB-5 from the Front Lines: How to Survive in a Challenging Market and Make Projects More Competitive Globally". Edward was joined by industry leaders: Eren Cicekdagi (Moderator) , Managing Director of Operations  Golden Gate Global (Moderator), Christine Chen , Chief Operating Officer CanAm Enterprises and Stephen Smith , President of EB-5 Coast to Coast. The panel was well attended and attendees found the panel interesting and value-adding.

Edward Beshara with With Charlie Oppenheim, Chief of the Visa Control and Reporting Division, U.S. Department of State, and Robert Kraft, President of the IIUSA.  Edward Beshara with Irina Rostova Founding Partner of Rostova Westerman Law Group and John Pratt, Partner, Kurzban Kurzban Tetzeli and Pratt P.A.

AILA CFC 33rd Annual Immigration Law Conference - October 24 to 26, 2019

Edward Beshara attended, moderated and spoke at AILA Central Florida 33rd Annual Immigration Law Conference on Thursday, October 24 to Saturday, October 26, 2019 at St. Petersburg. Edward was the Discussion Leader on two panels.

Panel 1: Changing of the Tide: Understanding the New EB-5 Modernization Rule  Edward Beshara (Discussion Leader) - Managing Partner Beshara Global Migration Law Firm (Orlando) Ira Kurzban - Co-Founder/Partner Kurzban, Kurzban, Tetzeli and Pratt P.A. (Miami) Ron Klasko - Founding Member and Managing Partner of Klasko Immigration Law Partners, LLP (Philadelphia) Ky Boyle – Vice President of CMB Asia Market (Illinois)

Panel 2: E or L: Which Roadmap works best for Your Entrepreneur Client? Edward Beshara (Discussion Leader) - Managing Partner Beshara Global Migration Law Firm (Orlando) Ira Kurzban - Co-Founder/Partner Kurzban, Kurzban, Tetzeli and Pratt P.A. (Miami) David Vedder – Board Certified Immigration Lawyer. (Daytona) Christine Alden – Shareholder Buchanan Ingersoll & Rooney (Miami) - President of AILA South Florida Chapter

The two panels were very well attended and offered valuable insights to the attendees. In addition, the conference was packed with high-quality information.

OCBA Immigration Law Committee Lunch &Learn - November 7, 2019

Edward Beshara  was a speaker on an EB-5 panel on November 7, 2019 at the  Orange County Bar Association  with the Immigration Law Committee Lunch and Lean. Edward is a member of the OCBA. He is Past Chairman of the Immigration and Naturalization Committee of the OCBA and received several awards for being an outstanding Chairman.

Immigration News

The EB-5 Modernization Regulation takes effect today, November 21, 2019. Under a   new rule  published by the U.S. Department of Homeland Security, the EB-5 Immigrant Investor Program will be subject to a minimum investment of $1.8 million, or $900,000 in a Targeted Employment Area (TEA); also the TEA definitions are more restricted, and the process has changed. USCIS has updated its Policy Manual EB-5 section   to reflect these changes. Department of State Published Annual Numerical Immigrant Visa Limits for FY2020 The Annual Numeric Limit for 2020 increased by 1100 visas and per country cap improved by 10%. Data Analysis on Fiscal Year 2019 EB-5 Visa Usage & Estimated Visa Waiting Lines by Mr. Charlie Oppenheim Mr. Charlie Oppenheim, Chief, Visa Control and Reporting Division, U.S. Department of State who was the keynote speaker at the IIUSA EB-5 Industry Forum. Here is the recap from IIUSA Long-term EB-5 Reauthorization Bill Introduced in the Senate A comprehensive  #EB5  modernization bill has been introduced in the U.S. Senate by three Republican senators which will solve most of the EB-5 issues. Check the details HERE DHS Extends TPS Documentation for Six Countries - November 1, 2019 DHS announced a Federal Register  notice  extending the validity of TPS-related documentation for beneficiaries under the Temporary Protected Status (TPS) designations for El Salvador, Haiti, Honduras, Nepal, Nicaragua and Sudan through Jan. 4, 2021. Poland designated into the  Visa Waiver Program (VWP) .   Starting November 11, 2019, citizens of Poland are able to apply to travel to the United States for tourism or business purposes for up to 90 days without obtaining a U.S. visa. Read the details HERE . Useful Links: USCIS Processing Time December 2019 Visa Bulletin Updated Forms

BESHARA GLOBAL MIGRATION LAW FIRM is committed to offering approvable solutions to ensure a smooth and successful approach to obtaining a U.S. Visa. Contact us by phone (407) 571-6878 Email  ebeshara@besharapa.com or visit our website  www.behsarapa.com

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This Newsletter is a periodic publication of  BESHARA GLOBAL MIGRATION LAW FIRM and should not be used as legal advice on any specific facts or circumstances. The contents are intended for general informational purposes only. You are encouraged to consult with one of  OUR attorneys on any specific legal questions you may have.