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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

  • work Practice Area

    Real Property - Transactions

Date & Time
  • event Date

    Thursday, February 16, 2023

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$347.00
CLE
ALL

This CLE webinar will provide real estate counsel with an overview of the recent significant changes to the Immigrant Investor Program (EB-5 program) with the passage of the Reform and Integrity Act of 2022 (RIA), which is part of the Consolidated Appropriations Act of 2022. The panel will highlight how the major changes impact commercial real estate developers and entrepreneurs in funding and maximizing benefits for new capital projects and other issues that may arise from current EB-5 program participation.

Faculty

Raymond G. Lahoud
Member; Chair Immigration Law Practice Group
Norris McLaughlin, P.A.

Mr. Lahoud represents individuals and families, domestic and multinational businesses and corporations, employers, international employees, investors, students, professors, researchers, skilled professionals, athletes, and entertainers. He skillfully assembles a team to strategically work together, including the firm’s immigration attorneys, employer immigration auditors, and other immigration professionals to help domestic and foreign clients navigate every type of immigration or deportation defense matter. Mr. Lahoud has distinguished himself as an attorney who provides tailored solutions and valuable guidance to his clients, based upon his in-depth knowledge of immigration law. His extraordinary creativity, distinguished advocacy skills, and true passion for his immigration practice have helped countless individuals, families, and organizations of all types and sizes to resolve the most complex of immigration concerns.

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Shae Armstrong
Partner
Bradley Arant Boult Cummings LLP

Mr. Armstrong focuses his practice in the area of project finance, including equity financings and lender and borrower representation, with an emphasis on real estate investment and development, private equity, and EB-5 related cross border financing transactions. He has represented sponsors and real estate developers in over $2 billion in EB-5 involved financings. His practice also involves advising private companies in connection with general corporate matters, securities, fund structuring, compliance policies and procedures, investor relations, hospitality and multi-family related operations guidance, and broker-dealer arrangements. Mr. Armstrong has advised U.S. House and Senate offices, committees of the U.S. Congress, and policy and industry trade groups on alternative and international investment and lending matters. He was a contributing author to the textbook The EB-5 Book, published by ILW, and he is a frequent lecturer on a variety of topics. He has been engaged as an expert witness in litigation matters involving EB-5 Immigrant Investment financings. 

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Description

The EB-5 program was created by Congress in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors. As part of the program, foreign nationals put up capital for U.S. investment in exchange for lawful permanent residence. After years of being sidelined, the EB-5 program is back largely due to the recent enactment of RIA and its sweeping changes to the EB-5 program.

The new EB-5 landscape not only revitalizes the EB-5 program but also reauthorizes the lapsed Regional Center (RC) Program, an essential component of the program's future success. RCs are designated by U.S. Citizenship and Immigration Services and offer benefits to both real estate developers and investors seeking capital. It is estimated that virtually all successful funding has been handled by the top 10 percent of RCs. RIA significantly increases the legal liability and responsibility of RCs and investors with new rules governing targeted employment areas and numerous provisions ensuring the integrity of the program from fraud and fund misappropriation. Real estate developers can avoid costs and risks by selecting the best RC for their project.

Along with positive RC changes, other RIA major changes include the establishment of an EB-5 integrity fund, developer job creation calculations, priorities and incentives for targeted employment areas, rural projects, infrastructure projects, and roll-over provisions for EB-5 visas. Essentially, RIA's new modifications provide an opportunity for real estate developers to consider their overall job creation goals, calculations, and investing in high unemployment and rural area projects to promote economic growth.

Listen as our authoritative panel of real estate attorneys provides guidance on the recently revitalized EB-5 program, analyzes the most notable RIA changes, and offers practical recommendations to assist clients with their commercial real estate development projects.

Outline

  1. Overview of the EB-5 program
  2. Regional centers
  3. Recent EB-5 program changes
    1. Establishment of the EB-5 integrity fund
    2. Job creation calculations
    3. Targeted employment areas and infrastructure projects
    4. Reserved EB-5 visas
  4. Practical guidance

Benefits

The panel will cover these and other key issues:

  • What are the key considerations for the EB-5 program and RCs?
  • What are the recent changes with the passage of RIA?
  • What are some practical strategies for counsel when advising commercial real estate developers?