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DHS argues against investor lawsuit that demands reserved visas for pre-RIA investors

Chinese EB-5 investors who, prior to the Reform and Integrity Act (RIA), invested in a Philadelphia transportation project have filed a lawsuit claiming they should qualify for reserved infrastructure visas, as per the RIA. The Department of Homeland Security (DHS) counters that USCIS guidance clarifying a rule cannot be challenged in court. DHS also states that there is no indication in the RIA that Congress wanted the new rules to apply retroactively to investments, and that $500,000 investments don’t meet RIA requirements.

Law360 article (subscription required)

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