WASHINGTON, DC – On September 21, 2018, Invest in the USA (IIUSA), the non-profit trade association of the EB-5 Regional Center industry, filed an Amicus Brief in support of the plaintiffs of federal litigation (Case No.: 18-cv-1732-TSC) that seeks relief to the growing visa backlog for the EB-5 visa category.
“IIUSA supports the litigation to relieve the EB-5 visa backlog issue in order to keep this economic development program alive and well for the future,” said IIUSA Interim Executive Director, Aaron Grau. “There is a legal solution to provide significant relief to the thousands of well-intentioned immigrants waiting in line to not only bring their families to the U.S., but to make meaningful financial investments into communities all around the country.”
The brief augments the plaintiffs claim that a simple and legal solution to the visa backlog issue that provides immediate relief is for derivatives of EB-5 investors to not be counted towards the annual per country cap. “Derivatives” refers to the spouse and children under 21 years of age of the immigrant filing for and making the investment for the EB-5 visa.
IIUSA President Robert Kraft said, “It was important that we file this brief in order to have IIUSA’s support of visa relief on record for the court, our members, and EB-5 investors and their families. Finding a workable solution to the visa backlog would be of benefit to not just the EB-5 industry, but the entire country, as it makes available more visas which in turn means more investments to important local economic development projects across the U.S.”
IIUSA is committed to securing a long and sustainable future for the EB-5 Program so it can continue to deliver on its promise and purpose to transform communities with revitalization and American job creation through foreign direct investment.
The Amicus Brief is available in full on IIUSA’s website here.
Founded in 2005, IIUSA is the national not-for-profit trade association for the EB-5 Regional Center industry with a mission of advocacy, education, industry development, and research. The organization represents more than 240 Regional Centers and 180 Associate members, collectively representing big and small projects, urban and rural economic development, and industry sectors ranging from real estate and manufacturing to energy and infrastructure.
IIUSA’s members are engines of economic growth and job creation, accounting for a vast majority of capital flowing through the Program. Learn more at IIUSA.org