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Preliminary Injunction Granted for EB-5 Regional Center Reauthorization in Behring Regional Center LLC v. Mayorkas et al

EB-5 Reauthorization

Judge Vince Chhabria approved Behring Regional Center's request for a preliminary injunction against USCIS. It ends Regional Centers’ "deauthorized" status.

This is a huge victory for the EB-5 sector. We will continue to monitor this and are pleased that the EB-5 Regional Centers in our portfolio do not have to be redesignated at this time.”
— Vivek Tandon, Founder of EB5 BRICS
LOS ANGELES, CALIFORNIA, UNITED STATES, June 28, 2022 /EINPresswire.com/ -- Judge Vince Chhabria approved Behring Regional Center's request for a preliminary injunction against USCIS. This decision exempts ALL EB-5 regional centers from being affected by how USCIS interprets the EB-5 Reform and Integrity Act of 2022.

This ruling ends the Regional Centers’ "unauthorized" status but the decision did not specify any changes or direction on how to move forward. Most likely, the further direction will result from negotiations with the government to reach a settlement.

See more EB-5 Reauthorization News

Background:
The EB-5 Integrity and Reform Act of 2022, part of an omnibus spending measure for FY 2022, increased the minimum investment criteria to $800,000 for targeted investment regions and $1,050,000 for conventional investments. However, as part of the Act, all previously designated EB-5 Regional Centers under the original program would need to "redesignate" under the new law.

Behring Regional Center sued the Department of Homeland Security on April 22, 2022 (Case 3:22-cv-02487-VC), requesting an injunction to prevent the requirement for redesignation. A hearing was held on May 10, 2022, in the federal court for the Northern District of California to consider a preliminary injunction or temporary restraining order (TRO) against this requirement.

After requesting additional documentation from both the plaintiff and the defendant, the judge, the Honorable Vince Chhabria planned to issue a decision in “early June”. A second hearing was held on June 2, 2022.

Source: Behring Regional Center LLC v. Mayorkas et al; Behring Regional Center LLC v. Mayorkas et al, Docket No. 3:22-cv-02487 (N.D. Cal. Apr 22, 2022), Court Docket

See other EB5 Visa News from 2022

About EB5 BRICS:
EB5 BRICS offers foreign investors the opportunity and instruments to gain permanent residency in the United States. Their team of experts partners with Regional Centers, business and tax law experts, and real estate and business management professionals to help clients achieve their goals of investment-based immigration to the United States. If you'd like to meet and discuss EB-5 immigration and EB-5 investments including Current Direct EB-5 opportunities and Regional Center EB-5 Projects (subject to program reauthorization), fill out the form.

Media Contact:
Vivek Tandon, Esq
EB5 BRICS, LLC
8383 Wilshire Blvd., Ste. 800
Beverly Hills, CA 90211
213.344.5941
https://www.eb5brics.com/

Securities offered through Sequence Financial Specialists LLC (Member FINRA/SIPC). EB5 BRICS, LLC is not a broker-dealer, does not offer securities and is not registered with FINRA or any other securities-regulating organizations. The CEO of EB5 BRICS is registered with Sequence. EB5 BRICS is not affiliated with Sequence. Information contained in this message may be privileged and confidential and protected from disclosure. If the reader of this message is not the intended recipient or an employee or agent responsible for delivering this message to the intended recipient. You are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this communication in error, please notify us immediately by replying to the message and deleting it from your computer. Sequence Financial Specialists LLC professionals are committed to acting in our retail client's best interest. For important information on Regulation Best Interest, including Form CRS and other disclosures, please visit our website at www.sequencefinancialspecialists.com.

Vivek Tandon
EB5 BRICS LLC
+1 213-394-5527
vivek@eb5brics.com
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