On Sep 14 2017 by H. Ronald Klasko
Klasko 2017 EB-5 Seminar
There is a lot going on in the EB-5 world. As in past years, the annual Klasko EB-5 Seminar on October 13 will provide an in-depth analysis of the hottest complex and cutting‑edge issues that our EB-5 lawyers have dealt with in our client representations during the last year.
This year, we will cover 10 specific issues of greatest interest to our clients in 20 minute discussions with 2-3 panelists on each topic. This format will enable us to explore in detail virtually all of the hottest topics in EB-5. We will forego the basics (with the exception of an optional fundamentals program first thing in the morning) in order to focus on specific issues that we see in our representation of a wide variety of regional centers, developers, investors, receivers and other entities involved in the EB-5 industry.
The topics will include 2 panels on RFE trends – – one relating to investors and the other relating to projects. The investor RFE panel, as well as a separate panel on currency export issues, will focus on alternative currency export solutions that we have developed for Chinese investors, as well as our strategy in responding to RFEs relating to currency export issues. The project RFE panel will focus on 3 of the most frequent sources of RFEs in 2017 – – at risk and debt arrangements; bridge financing; and capital stack issues.
The June 14 amendments to the USCIS Policy Manual have changed the advice we give to our clients – – both defensive and proactive – – in two major contexts. These include redeployment of investment funds in order to meet the sustainment of investment requirement and the extent to which loan prepayments, project changes and diversion of capital to other projects do and do not constitute material change. The material change panel will also discuss when disclosure of changes is advisable and how to respond to RFEs and NOIDs alleging material changes.
Our firm is increasingly being asked to assume representation of projects gone awry. This includes projects that have been the subject of fraud, financial failure and significantly changed plans. Very often, these scenarios result in USCIS taking action to terminate the regional center, which is sponsoring the failed project. Two of our panels will focus on these related issues. On one panel, we will share our experiences in successfully responding to Notices of Intent to Terminate regional centers. On the other panel, we will discuss our representation of receivers and our strategies in helping investors in failed projects achieve their immigration goals.
Members of the Klasko Compliance Team will provide their experiences and advice in representing clients who are the subject of regional center audits and project site visits. One panel will also discuss what to expect both at consular conditional immigrant visa interviews and at the increasing number of I-829 interviews. The Compliance Team will also have a separate panel on the importance of ongoing compliance during the often 10+ year life of a project both as a marketing tool and as a way of protecting all parties, including investors.
Finally, the last 90 minutes of our seminar will be focused on marketing issues, with special emphasis on China, Vietnam, India and other emerging markets. Our panels will include members of the Klasko team involved in each of those markets, as well as others involved in the marketing process – – agents, regional centers, broker/dealers and others. The market has clearly changed within the last year, and we will bring everyone up to date on the latest market conditions, including how projects need to be structured differently than in prior years in order to meet the marketing demands of 2017 and beyond.
Our lunch panel will be focused on legislative and regulatory changes that we expect to see in the near future. I am very pleased that I will be joined by Dan Healy, Founder and CEO of Civitas Capital Group; Angel Brunner, Founder & President of EB-5 Capital; and Adam Greene, Senior Vice President of The LCP Group and President of Live in America EB-5 regional centers. All of us have been intimately involved in the legislative and regulatory process, and we will share our perspectives both on where we are now and what we foresee on the horizon.
In addition to Angel, Dan and Adam, we are most pleased to welcome an all-star list of guest speakers, including Ginny Fang, CEO of Golden Gate Global Regional Center; Robert Roe, Vice President of New York Immigration Fund; Anna Chen, Managing Director of CIBA (a top Chinese migration agency); Ronnie Fieldstone, EB-5 corporate/securities attorney at Saul, Ewing, Arnstein and Lehr; Reid Thomas, Executive Vice President of NES Financial Corporation; John Leo, Founder, President and General Securities Principal of Primary Capital; Steve Forster, General Manager of EB-5 Market Connect; and Russell Scarcella, Director at Exiger, Inc.