TOP IMMIGRATION ATTORNEYS
JINHEE WILDE Principal & Managing Partner Wilde & Associates LLC
Jinhee Wilde is the principal and managing partner of Wilde & Associates LLC, a boutique law firm focusing on business and investment immigration. Her 32 years of legal experience began first as a prosecutor for Chicago and then as the Inspector General designee, special counsel and attorney advisor for the U. S. Department of Agriculture. This government experience gives her a government lawyer’ s perspective to help her clients, which may explain her track record in both I-526 and I-829 filings with only three RFEs on Source of Fund on numerous cases filed since 2007. Wilde only represents the investor side of EB-5 and is independent from any regional centers. She is on the President’ s Advisory Council of IIUSA, active in AILA and is a frequent speaker at EB-5 conferences. Wilde received her Bachelor of Arts from the University of Chicago and J. D. from Loyola University of Chicago School of Law.
WHAT DO YOU THINK THE FUTURE OF THE EB-5 INDUSTRY LOOKS LIKE?
Congress’ original intent to create jobs and boost economic growth through EB-5 was a positive result of EB-5 that should be preserved. However, there is a risk congress or USCIS may throw the“ baby out with the bath water” without implementing much-needed integrity measures and making minor changes to restore EB-5’ s original intent to put resources into the rural and hardship urban areas. If some of the existing, shiny, mega office and hotel buildings in Manhattan and elsewhere were only allowed $ 1 million EB-5 investment( non- TEA), we may not have had the explosion of EB-5 investors, which has created such a huge backlog in visa availability.
WHAT TRENDS ARE YOU SEEING IN THE EB-5 INDUSTRY?
One alarming trend is the migration agencies pushing to sell the EB-5 projects that pay the highest finders fees and commission while utilizing inexperienced attorneys with the lowest fee to file the investors petition. It is normal for agencies to receive commissions of $ 120,000 or more for each EB-5 investor they find. Too often, EB-5 investors are not aware of the dynamics between parties and the fees being paid. Investors too often blindly subscribe to a project and use the lawyers given by the agents or the regional centers. In this structure, no one is accountable only to the investor without any conflict.
BERNARD WOLFSDORF Managing Partner Wolfsdorf Rosenthal LLP
Bernard Wolfsdorf is the managing partner at Wolfsdorf Rosenthal LLP, which includes 70 professionals in Los Angeles, New York and Shanghai. He successfully filed his first EB-5 case 25 years ago. With decades of experience, he and the firm have assisted thousands of clients from around the world with visa petitions filings, setting-up regional centers, preparing project documents, handling complex motions, appeals, removal proceedings and litigation. The firm’ s vast experience, together with his own personal immigration experience, provide a unique ability to connect with clients. Wolfsdorf is known for his informative blogs, webinars and public speaking on complex aspects of immigration law. Among many accolades, he has been named " Corporate Immigration Lawyer of the Year” since 2010 by Who’ s Who Legal. Best Lawyers / U. S. News and World Report also named him 2018“ Immigration Lawyer of the Year” for Los Angeles. Wolfsdorf is past president of AILA, where he received the " Service Excellence Award."
WHAT DO YOU THINK THE FUTURE OF THE EB-5 INDUSTRY LOOKS LIKE?
The EB-5 program is one of the most effective, beneficial programs for the U. S. economy and job creation. After 25 years, the program needs revitalization. Most important is the need to correct a drafting error to reflect the original Congressional intent that 10,000 investor families, not 3,000 investors and their families should be admitted annually. Good faith investors need a solution when the project fails to create sufficient jobs due to circumstances beyond the investor’ s control. Congress should recognize the benefits and provide solutions for thousands of investors who committed capital and must wait years, possibly risking their children aging-out.
WHAT TRENDS ARE YOU SEEING IN THE EB-5 INDUSTRY?
The industry is maturing in that institutional financial and developer entities have entered the field ushering in much needed corporate compliance structures, which provide better protection for investors. Whereas previously most of our clients were Chinese, we now see increased diversification with investors from India, Vietnam, Brazil, Turkey and numerous other countries as the program is becoming increasingly popular worldwide. Project offerings are improving in quality and the interests of the investor are better protected. With these changes, we anticipate that the minimum investment amount will increase substantially providing a window of opportunity for certain investors.
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