TOP EB-5 INDUSTRY RISING STARS
MATTHEW T. GALATI Senior Associate Green and Spiegel LLC
Matthew T. Galati is a senior associate in
Green and Spiegel LLC’ s Philadelphia office, where he leads the firm’ s EB-5 and Grenada Citizenship-by-Investment functions. Green and Spiegel was founded in 1962 and is one of North America’ s oldest immigration law firms. The firm offers comprehensive immigration solutions on both sides of the U. S. and Canada border.
Since the beginning of his career, Galati has been responsible for the filing of hundreds of EB-5 petitions. He also routinely counsels entrepreneurial clients on the treaty trader and investor e-visas, intracompany transferee L-1 visas and EB-1 visa alternatives. Galati is an active member of AILA, where he serves on the Philadelphia Chapter’ s Executive Committee. He has authored dozens of industry-related articles and is quoted in national media. Galati has presented on the EB-5 program coast-to-coast and throughout Asia. He was twice named as a SuperLawyers Rising Star in the field of business immigration.
WHAT TRENDS ARE YOU SEEING IN THE EB-5 INDUSTRY?
I see more investors looking at EB-5 with frustration fueling their investment motives. Major parts of our employment-based visa system are dysfunctional, the most egregious is the perennial shortfall of H-1B visas and the prohibitively-long waiting times affecting applicants from certain countries in EB-2 and EB-3 categories. With the exception of China, a parent gifting the investment funds to a child early enough in the latter’ s college career can secure residency upon graduation. In China, more investors are looking to the E-2 through Grenadian citizenship to minimize the disruption of visa retrogression.
WHY DID YOU GET INVOLVED IN THE EB-5 INDUSTRY?
My grandfather immigrated after docking in New York Harbor, and my wife immigrated after an interview with me at her side in a USCIS office, so I have a deep personal connection with my clients’ circumstances. Regarding EB- 5, I was fortunate to work with some of the industry’ s brightest minds early in my career. Their passion for this program fueled mine. It is rewarding knowing that I am representing a family so they can achieve the American dream, while at the same time raising the economic outlook for my fellow Americans.
RAYMOND G. LAHOUD Chair, Immigration Law Practice Norris McLaughlin & Marcus P. A.
Raymond G. Lahoud is chair of the Norris
McLaughlin & Marcus P. A. Immigration Law Practice. His EB-5 experience spans every aspect of the program including: formations and management of regional centers and representation of investors from across the world, including the Middle East, Asia, Europe, Central and South America, Australia and Europe. His experience of direct and regional center investments includes travel to several Middle Eastern, European and Asian countries to present educational sessions for possible investors. Lahoud offers leadership and counsel with economic development organizations, municipalities, developers, quasi-government entities and planning commissions to implement and market the EB-5 program as an alternative funding source for public and private projects. When a client seeks EB-5 related work – whether it be an individual proposing a possible EB-5 project or wanting to create a regional center or an investor from any country, Lahoud directs the process from start to finish.
WHAT DO YOU THINK THE FUTURE OF THE EB-5 INDUSTRY LOOKS LIKE?
The EB-5 program is likely to experience much-needed reform, which will include measures such as addressing the need to increase the minimum investment thresholds for potential EB-5 investors, both those in TEAs and those outside of TEAs, and allow for annual increases in the threshold that are beyond the minimal inflation rate. Further, the future of the EB-5 program will likely include increasing federal scrutiny, investigations and minimum qualification thresholds given the recent unfortunate increase in the number of EB-5 fraud related matters.
WHAT TRENDS ARE YOU SEEING IN THE EB-5 INDUSTRY?
Until recently, the EB-5 program was relatively unknown and limited geographically both in and outside the United States. Over the last few years, the benefits of the EB-5 program have become increasingly well-known throughout the Middle East, Australia, South and Central America and in many African countries. Additionally, American businesses, local municipalities, universities, colleges, developers, economic and planning groups and agencies have become increasingly knowledgeable and willing to participate in the EB-5 program through regional center investments. These organizations understand that the EB-5 program is a more efficient and inexpensive way to fund all types of public and private projects.
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