Immigration lawyer H. Ronald Klasko thinks several factors this fiscal year could mean not all 10,000 EB-5 visas may be used: long processing times and the closure of U.S. consulates around the world due to the pandemic are among the key reasons. Klasko sees filing multiple-plaintiff mandamus complaints as an answer.
Immigration lawyer Klasko points out the unfortunate irony: even though EB-5 demand is far greater than the supply of just 10,000 visas per year, this fiscal year may see large numbers of EB-5 visas not being issued and “lost forever.”
Klasko offers two possible solutions for this problem. The first, which he says is very unlikely, would be for USCIS to, of their own accord, expedite EB-5 processing.
The second solution is litigation — one that Klasko’s firm will be “pursuing imminently” as the fiscal year closes at the end of September. He states that his firm will file three or four multiple-plaintiff mandamus complaints — an attempt to have a court order USCIS to process unreasonably delayed petitions. The complaints ask for adjudication before the fiscal year end, after which unused visas will be lost. They will also refer to the Executive Order which “indicates a clear intention to give priority to EB-5.” Lastly, he says the complaints will include as many investors as possible as relief will only apply to named plaintiffs.
Read the Klasko blog “How to Prevent EB-5 Numbers from Being Lost Forever”
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