Where Is the Global Migration Market Heading in 2024?
By Mona Shah, Esq. and Rebecca S. Singh, Esq.
The year 2023 started with a bang in the EB-5 space—with the industry in full swing, inuring itself with the post-Reform and Integrity Act (“RIA”) changes, such as more stringent compliance, along with complex new F, H, and K forms from U.S. Citizenship and Immigration Services (“USCIS”). 2023 saw in-person marketing events reminiscent of 2018, though there was a marked difference: the rural phenomenon and the return of China.
Some of 2023’s fireworks started early on: For example, public outrage over proposed fee hikes from USCIS made it clear even in January that the months ahead were going to be challenging. Yet 2023 ended with more of a nod than a whimper, given the industry’s feats … including a lobbying effort that elicited a carveout in a particularly thorny piece of Florida legislation. That does not, however, preclude concerns over the ambiguous deadline for public comments on the fee proposal, the return of the Equal Access to Green Cards for Legal Employment (“Eagle”) Act, and the Supreme Court’s word on the Chevron deference, all potential obstacles for 2024 that summon up remembrances of past, unresolved puzzlements.