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The top EB-5 stories in 2024 could include processing, increased FOIA requests, and more denials and suspensions

Despite much faster post-RIA petition processing, many in EB-5 believe pre-RIA backlogs will command urgent attention in the coming year; however, regional center executive Greg Sheehan is hopeful there will be shorter processing times for all. Like many lawyers, Sheehan expects an increase in successful Freedom of Information Act requests for EB-5 data until a public-facing system provides this information. Immigration lawyer Ron Klasko wants more clarity on sustainment requirements and redeployment. Immigration lawyer Belma Demirovic Chinchoy warns investors to expect more petition denials due to project failures and fraud; we may also see suspensions and debarment of key players in regional centers, new commercial enterprises, and job-creating entities.

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