EB5 Investors Magazine "Top 25 Awards Edition" Volume 8 Issue 1 | Page 35

TOP IMMIGRATION AT TORNEYS ROHIT KAPURIA R ohit Kapuria, an attorney at Saul Ewing Arnstein & Lehr LLP, regularly represents EB-5 lenders, borrowers, banks, regional centers, real estate developers and migration brokers. Kapuria’s practice is a dual hybrid of corporate securities and EB-5 immigration law. He has worked on over 500 EB-5 transactions, with a combined capital development cost in excess of $7.5 billion. Kapuria currently represents close to 25% of the Indian born EB-5 investor market. He is also very active in Opportunity Zones representing clients around the U.S. in such transactions. Kapuria can speak several languages and is fluent in Hindi, Urdu, Punjabi and Hausa. HOW DO YOU THINK THE EB-5 PROGRAM SHOULD BE REFORMED? IMMIGRATION ATTORNEYS EB5 INVESTORS MAGAZINE out the spread of attractive EB-5 offerings. However, the COVID-19 pandemic added further stressors on this issue. The goal should be to get a legislative bill passed extending the program. EB-5 is a powerful legislative tool to buttress up the unemployment lags the U.S. is facing under the pandemic. WHAT NEW TRENDS ARE YOU SEEING IN THE EB-5 INDUSTRY? There has been a shift towards “COVID resistant” asset classes such as multi-family, industrial warehousing and similar boxed developments. That being said, while the hospitality sector has taken a beating in the short term, there is optimism for hospitality projects that are not due to enter the market supply for at least the next year or two. We are working on some attractive developments that are projected to trend upwards as the tourism begins to, hopefully, do a positive reset. Right now, there needs to be a more even playing field to allow for EB-5 projects all around the country. Prior to Nov. 21, 2019, there was a rift between the urban and rural projects, and one of the arguments was that the revised regulations would balance CAROLYN LEE C arolyn Lee is the Founder of Carolyn Lee PLLC, a U.S. immigration law firm concentrating exclusively on investment immigration. Lee represents regional centers, developers, funds, and investors, helping U.S. project clients raise $2.5 billion in EB-5 capital over 15 years and thousands of investor families around the world. A key focus is crafting E-2 visa solutions for global investors following citizenship-by-investment (CBI) acquisition. Lee is the four-term Chair of American Immigration Lawyers national EB-5 Committee and is Legislative Counsel to Invest in the USA. Lee is an international speaker and authors extensively on U.S. investment immigration. IMMIGRATION ATTORNEYS EB5 INVESTORS MAGAZINE WHAT NEW TRENDS ARE YOU SEEING IN THE EB-5 INDUSTRY? I’m seeing the same trends as last year – the optimistic and the opportunity-focused players marching boldly into new avenues. I see a rise in citizenship-by-investment and U.S. investment immigration taking their place alongside other options available to the global citizen. We are competing for these investors in a worldwide market and that’s how we should view our investment programs. HOW DO YOU THINK THE EB-5 PROGRAM SHOULD BE REFORMED? We need long-term reauthorization. The Grassley-Leahy integrity bill gets us there and delivers the strongest investor protections and regional center governance provisions we’ve ever had. This is the way. EB5INVESTORS.COM 35