SAN FRANCISCO, April 27, 2022 — California-based immigration by investment company Golden Gate Global (GGG) has reached a significant milestone as 2021, marking the company’s 10th anniversary. To commemorate this meaningful stage with the EB-5 community, GGG seized the opportunity of the first in-person Invest In the USA (IIUSA) EB-5 Industry Forumin 2 years to host a reception at the event. In the gathering hosted by GGG, the most experienced EB-5 attorneys, consultants, and other professionals from around the world were able to catch up in person on their recent developments and share the common excitement about the future potential of the EB-5 Regional Center Program.
Centered around creating permanent full-time jobs in qualifying high unemployment or rural areas, the EB-5 Immigrant Investor Program provides the opportunity for qualified foreign investors to earn a conditional green card and eventual permanent residency in the United States through a minimum $800,000 investment.
The IIUSA association is dedicated to the advancement of the EB-5 program through the regional centers. The event is the industry’s premier business development and educational platform developed to connect attorneys, regional centers, project sponsors, foreign intermediaries, and service providers. EB-5 job-creation and economic development financing will have a critically important role to play in national economic recovery efforts in the post COVID-19 era.
Golden Gate Global also sponsored the 13th annual IIUSA EB-5 Industry Forum in Orlando, FL through April 13, 2022 to continue, with fellow members and industry partners from around the world, the EB-5 Regional Center Program’s pursuit of a pathway to permanent residency for immigrants governed by the United States Citizenship and Immigration Services.
U.S. Congress recently approved new legislation that both modifies and extends the EB-5 Regional Center Program through September 30, 2027. Changes are widely anticipated to provide more stability, accountability, transparency, and predictability for EB-5 applicants and industry stakeholders. Investors are looking forward to more peace of mind when choosing a project to invest their funds knowing that the new regulations passed by the U.S. Congress will tighten controls of the regional center program increasing transparency for investors.
The 2022 IIUSA Annual Industry Forum included two days of panels and events focused on EB-5 industry best practices and interpretation of the newest EB-5 legislation that was passed as part of the latest omnibus bill and signed into law by President Biden on March 15, 2022.
Eren Cicekdagi (Golden Gate Global), Osvaldo Torres (Torres Law), James Sozomenou (Signature Bank), and Joseph McCarthy (American Dream Fund) held a panel that discussed “EB-5 Regional Center Program Integrity Reform and Compliance”.
The conversation focused on the main new integrity measures that were grouped into these broad categories:
- Establishment of new Regional Centers
- Record Keeping and Audits
- Regional Center Annual Statements
- Business Operations and Fund Administration
- Compliance with Securities Laws
- Sanctions and Effect of Violation
“We in the EB-5 industry facilitate opportunities for qualified international investors to play an essential role in revitalizing high unemployment and rural towns, cities, and regions within the United States while providing an important path for immigrant investor families seeking the American Dream,” added Eren Cicekdagi. “In the wake of the COVID-19 economic downturn, EB-5 investments will work to generate new jobs and breathe life and optimism into American communities seeking real and measurable economic recovery.”
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