New USCIS EB-5 Changes Increase Program Transparency and Speed

As president of Hesemann & Associates, Mark Hesemann helps developers, landowners, and investors finance real estate projects. Mark Hesemann has extensive experience in financing development projects through the U.S. Citizenship and Immigration Services investment immigration program (USCIS EB-5). This longstanding federal program provides foreign investors with the opportunity to obtain a green card, provided they meet certain criteria.

In early 2014, a new USCIS program director, Nicholas Colucci, was appointed, and he refocused the agency’s attention on increasing transparency and expediting the EB-5 application and approval process. Currently, the processing of the initial I-526 petition, which helps determine the legality of the investment source, takes a lengthy 10 months on average. The new director is also seeking to increase due diligence capacities by hiring well-qualified securities and immigration lawyers and economists. The end result promises to be a streamlined USCIS EB-5 application and approval process that will benefit investors, U.S. workers, and the American economy as a whole.

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