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The first hearing of the second session of the 114th Congress on the topic of EB-5 was held in the Senate Judiciary Committee on Feb. 2, 2016. Witnesses included Nicholas Colucci, Chief, Office of Immigrant Investor Program, U.S. Citizenship and Immigration Services, and Stephen L. Cohen, Associate Director, Division of Enforcement, U.S. Securities and Exchange Commission. Their testimony can be found here.

The hearing was well attended, with eleven Judiciary Committee members participating.  Issues of program reform and program integrity topped the agenda. S.2415, the EB-5 Integrity Act, was discussed, as were other programmatic reform efforts including S.1501, the American Job Creation and Investment Promotion Reform Act of 2015. Mr. Colucci testified that regulations from his agency would be forthcoming on some key issues including possible revisions to the way in which the agency evaluates targeted employment area (TEA) designations. The EB-5 Investment Coalition released a statement in relation to the hearing.

The House Judiciary Committee will hold a hearing on EB-5 reform on Feb. 11, 2016, at 10:15 am EST.

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Photo of Laura Foote Reiff‡ Laura Foote Reiff‡

Laura Foote Reiff Co-Chairs the Business Immigration & Compliance Practice and is the Co-Managing Shareholder of the Northern Virginia Office. She also Co-Chairs the firm’s Labor & Employment Practice’s International Employment, Immigration & Workforce Strategies group. Laura focuses her practice on business immigration

Laura Foote Reiff Co-Chairs the Business Immigration & Compliance Practice and is the Co-Managing Shareholder of the Northern Virginia Office. She also Co-Chairs the firm’s Labor & Employment Practice’s International Employment, Immigration & Workforce Strategies group. Laura focuses her practice on business immigration laws and regulations affecting U.S. and foreign companies, as well as related employment compliance and legislative issues.

Laura advises corporations on a variety of compliance-related issues, particularly related to Form I-9 eligibility employment verification matters. Laura has been involved in audits and internal investigations and has successfully minimized monetary exposure as well as civil and criminal liabilities on behalf of her clients. She develops immigration compliance strategies and programs for both small and large companies. Laura performs I-9, H-1B and H-2B compliance inspections during routine internal reviews, while performing due diligence (in the context of a merger, acquisition or sale) or while defending a company against a government investigation.

Laura represents many businesses in creating, managing and using “Regional Centers” that can create indirect jobs toward the 10 new U.S. jobs whose creation can give rise to EB-5 permanent residence for investment. She coordinates this work with attorneys practicing in securities law compliance, with economists identifying “targeted employment areas” and projecting indirect job creation, and with licensed securities brokers coordinating offerings. She also represents individual investors in obtaining conditional permanent residence and in removing conditions from permanent residence.

Laura’s practice also consists of managing business immigration matters and providing immigration counsel to address the visa and work authorization needs of U.S. and global personnel including professionals, managers and executives, treaty investors/ traders, essential workers, persons of extraordinary ability, corporate trainees, and students. She is an immigration policy advocacy expert and works on immigration reform policies.

Admitted in the District of Columbia and Maryland. Not admitted in Virginia. Practice limited to federal immigration practice.
Photo of Kristen W. Ng Kristen W. Ng

Kristen W. Ng focuses her practice on business immigration and compliance matters, including legislative issues. She advises individuals and companies on a wide range of immigration matters, including nonimmigrant and immigrant employment-based cases, citizenship issues,) and investor cases (E-2 and EB-5). She provides…

Kristen W. Ng focuses her practice on business immigration and compliance matters, including legislative issues. She advises individuals and companies on a wide range of immigration matters, including nonimmigrant and immigrant employment-based cases, citizenship issues,) and investor cases (E-2 and EB-5). She provides immigration counsel to clients, including HR managers, high-level executives, and employees to ensure comprehension of each respective immigration process and procedure and to collaboratively produce the best immigration strategy and approach for each individual matter. In addition, she works on immigration reform policies and advocates for smart policies for clients.