The EB-5 program enables a foreign investor to obtain citizenship by investing in a U.S. project or business, either as an investor with other EB-5 participants in a project or business owned and operated by others, or as a “direct” investor in a project owned and operated by the investor. Invest in the USA (IIUSA) reports that since its inception, the EB-5 program has generated $42 billion of foreign direct investment into a broad range of projects.
The program was modified significantly through the Reform and Integrity Act (RIA) adopted in March 2022. The prime purposes of the RIA are to provide greater effectiveness in directing EB-5 capital to impacted areas and greater transparency in information provided to investors and their agents, and to reform the review and processing of Green Card applications.
These program modifications have been followed by significant upheaval in the U.S. economy and financing markets whereby capital from conventional sources is harder to access and terms are less favorable as interest rates continue to rise and bank loan terms become even less favorable to developers. As a result, the EB-5 program has become an even more important source of financing for projects and businesses, while at the same time, the program’s goals, framework, and operating procedures have become more complex.
Successfully moving an EB-5-funded project from conception to completion requires legal counsel fully versed in the program that is facing significant changes. Akerman guides developers, investors, agents, regional centers, and financial institutions throughout the entire EB-5 process, helping clients understand the structure and marketing process necessary to successfully complete an EB-5 project, as well as the obligations, implications, and responsibilities involved in this type of foreign investment. With a national platform and lawyers experienced in all legal aspects needed to move a project from conception to completion, Akerman provides its EB-5 clients with a "best practices approach" and the bench strength to staff large, complex projects with speed and efficiency.
The Akerman EB-5 team also assists foreign companies seeking to establish, develop, and manage their presence in the United States. As one of the leading law firms in the U.S. for immigration law (The Legal 500), Akerman also represents multinational, foreign, and domestic companies, as well as individual professionals and employees, in all aspects of immigration and nationality law.
Ranked Tier One in the United States in Real Estate and Corporate Law by U.S. News – Best Lawyers, Akerman has strong experience and capabilities in all of the support services often needed for EB-5 projects, including securities offerings, registration and regulation of securities brokers, and all facets of real estate development, including acquisitions and sales, financings, and restructurings.
