EB-5 Visa Throwdown: Rural vs High Unemployment Projects
Much goes into the critical decision of whether an EB-5 investor should invest in a Rural Project or a High Unemployment Area project, all else being equal. The fact that we are working with incomplete and lagging data makes this analysis difficult. The fact that all is not equal adds to the complexity.
On November 13, 2024, Carolyn Lee moderated a friendly and entertaining debate with industry experts Ben Cummings (Founder and Senior Advisor, Birch Capital LLC), Girish Patel (Principal and Co-Founder, Green Card Fund), and Sebastian Stubbe (CEO, Pine State Regional Center) representing Rural Projects one on hand, and High Unemployment Areas on the other.
The guests highlighted the key distinctions, dispelled misconceptions, and no doubt fleshed out some common ground.
02:50 Introduction to Ben Cummings (Birch Capital LLC)
04:49 Introduction to Girish Patel (Green Card Fund)
07:10 Introduction to Sebastian Stubbe (Pine State Regional Center)
09:40 The Trump Administration: Rural Projects vs High Unemployment
17:40 Are Rural Projects a Riskier Investment?
22:47 HUA From an Investment Perspective
31:46 Concurrent AOS Filing: HUA vs Rural
50:58 To What Extent is it the Regional Center's Job to Determine the Existence or Timing of a Visa Incentive for the Project Offering?
56:27 Contact Information
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About Carolyn Lee PLLC:
Carolyn Lee PLLC is a boutique US law firm specializing in investment immigration, founded by Principal Carolyn Lee.
With a commitment to excellence and a 15+ years legacy, Carolyn Lee has assisted regional centers, developers, funds, and investors in mobilizing over $2.5 billion in EB-5 capital.
Carolyn has served four terms as Chair of the American Immigration Lawyers Association (AILA) National EB-5 Committee, and served as Chair, Vice-Chair, or Co-Chair for six years. In these capacities, Carolyn has authored key EB-5 legislative commentary. Her current advocacy focuses on long-term EB-5 program reauthorization and expansion.
Carolyn Lee is Legislative Counsel to Invest in the USA (IIUSA), the premier EB-5 trade association that represents the interests of stakeholders participating in the Regional Center Program. As IIUSA's Legislative Counsel, Carolyn advised on and drafted key portions of the 2022 EB-5 Reform and Integrity Act (RIA), particularly provisions relating to investor protection.
Thoroughly versed in the nuances of the RIA, Carolyn advises on RIA compliance for regional centers and new project requirements, as well as on new investor lawful source of funds.
Building on her knowledge of EB-5 project structuring, Carolyn has developed the "E-2 Hybrid" structure, blending traits of the E-2 and EB-5 visas.
Carolyn Lee has been listed among The Best Lawyers in America, Who’s Who Thought Leaders – Corporate Immigration, and Top 25 Immigration Lawyers. Her awards include Outstanding 50 Asian-Americans in Business Award, AILA’s Joseph Minsky Young Lawyer Award, and AILA Presidential Commendation.
A Cornell Law School graduate, Carolyn Lee is a member of the New York State Bar and admitted to the U.S. District Court for the District of Columbia.
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Disclaimer: This video is only intended to be informative. It is not intended as, and does not constitute, legal advice and does not create an attorney-client relationship with Carolyn Lee PLLC. An attorney-client relationship is formed only by an engagement signed by a client and Carolyn Lee PLLC. No part of this video may be recorded or presented without our express written consent.