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  • Posted on:  04 April 2016

March 09, 2016

Nicholas Colucci, the head of the USCIS Immigrant Investor Program, participated in the February 2nd meeting of the Senate Judiciary Committee to discuss aspects of the EB-5 program. Among the topics he addressed were:

  • Putting holds on application processing when another government agency is investigating potential fraud.
  • Clarifying that, although public attention regarding potential fraud seems to be investor-focused, the greater issue is on the developer side.
  • Indicating that, in his opinion, the USCIS has the authority to change EB-5 investment amounts and to define what may or may not be Targeted Employment Area.

We are especially interested in the last point. This could bode well for the EB-5 program because these issues would be taken out of the hands of a Congress that moves at a speed that makes a snail look like an Olympic sprinter. Moving decision-making further down the chain-of-command is usually a good thing. In this case, it could mean that EB-5 reform would not have to wait on the passage of a broader immigration reform bill that is more concerned about illegal immigrants and a flood of undocumented refugees.

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