Fall 2020 Regional Center Business Journal is Now Available!

Dear Readers, 

This edition of the Regional Center Business Journal serves as a barometer of where the action is in the EB-5 industry, and as a resource for those attending IIUSA’s 2020 Virtual EB-5 Industry Forum. Panel discussions in the Industry Forum aim to share insights on how best to manage the current challenges facing stakeholders.

With so many existing EB-5 investors in the very substantial pipeline of immigration processing, it is no surprise that several articles in this edition of the Journal are wrestling with the complications posed by immigration policies and processing, and the corresponding need to responsibly care for invested capital. The difficulties are especially acute for stakeholders in this extraordinary year 2020, with the persistent health threats of COVID-19, business lockdowns and the ensuing economic damage.

One article in particular, concerning targeted employment areas, should spur more creative thinking about what could be possible in the future EB-5 program. Although the article hits its objective as a “How To” informative piece for stakeholders, it also perhaps unintentionally is an invitation to policymakers and advocates to a new conversation about how best to incentivize foreign-source investment that is channeled to highest national priorities. Distinct cycles are evident over the course of the 30-year history of the EB-5 program, yet meaningful stakeholder engagement has been sporadic. A new conversation that elevates a shared vision of national interests could spawn the sustainable changes the EB-5 program requires.

The Editorial Committee joins me in wishing all of our readers renewed optimism and the best of health as we approach the end of this challenging year.


Lincoln Stone 




Stone Grezegorek & Gonzalez LLP
Chair IIUSA Editorial Committee




  • Unity & Validity – The Case for an EB-5 Coalition: by Aaron Grau, Executive Director, IIUSA 


  • Unreasonable Delays in EB-5: Fighting for New Norms: by Brad Banias, Partner, Wasden Banias LLC
  • New TEA Standards – A Year in Practice – Remaining Questions, Risks and COVID-19: by Michael Kester, Partner & Lead EB-5 Economist, Impact DataSource 


  • The Effects of COVID on Citizenship Planning: by Emilio Miguel, Regional Head – Americas, JTC Company
  • How EB-5 Reform Can Help Hong Kong: by Daniel Healy, CEO, Civitas Capital Group
  • Navigating the Uncertainties of COVID-19: A Guide for EB-5 Issuers on Securities Laws Disclosure in the Midst of the Pandemic: by William Cornelius, Attorney, Torres Law PA
  • An Analysis and Protocol for Determining Legal Remedies for EB-5 Investments in DIstressed Projects: by Catherine D. Holmes, Partner & Chair of Capital Investment Law Group. Jeffer Mangels Butler & MItchell LLP
  • Redeploying EB-5 Investments: Navigating Securities Laws After 2020 USCIS Clarification: by Mariza McKee, Partner, Kutak Rock & Robert Arenholz, Partner, Kutak Rock
  • A Rule by Any Other Name: Redployment and “Clarification” Gone to Far: by Erin Luschsinger (Corber), Associate Attorney, Trow & Rahal PC
  • Litigation Succes Story – Mirror Lake Vilage, LLC v. Wolf: After Years of Fighting “At Risk” Finally Means At Risk: by Daniel B. Lundy. Partner, Klasko Immigration Law Partners 
  • EB-5 by the Numbers in the Era of New Regulations: by Lee Li, Director of Policy Research & Data Analytics, IIUSA 


  • IIUSA & FOIA – Compelling Information Through the Court: by Ashley Sanislo Casey, Director of Education & Professional Development, IIUSA 
  • IIUSA Goes Virtual Continuing to Deliver Members Business Development and Educational Value in the Stay-at-Home Era: by McKenzie Penton, Director of Events & Business Developmnet, IIUSA 







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