Golden Gate Global and Other Leading EB-5 Regional Center Operators File Suit Against USCIS

“We are putting our different business interests aside and joining forces to reach the common goal of protecting our clients’ rights and continuing to provide needed capital for economic development projects,” said the plaintiffs in a joint statement. “Through this action, we seek to protect the viability of this highly successful economic development and job-creating program, the regional centers that facilitate the program, and the foreign investors who participate in the program. We believe Congress intended to allow regional centers to immediately get back to the business of EB-5 – while at the same time working to bring themselves quickly into compliance with the new integrity and other requirements of the RIA. In fact, there is consensus within the EB-5 industry that Congress intended to have the Regional Center program back in business as soon as the RIA was in effect on May 15, 2022.” 

Collectively, these five long-established operators manage 26 regional centers across 21 states. Over the years, they have facilitated $5.3 billion in EB-5 investments, developing 143 projects across the country, and they are responsible for the creation of more than 190,000 jobs for U.S. workers. The EB-5 program has an overwhelmingly positive impact on the U.S. economy. According to the data collected and analyzed by IIUSA, between 2008 and 2021, the EB-5 Program helped generate $37.4 billion in foreign direct investment to create and retain U.S. jobs for Americans, all at no cost to the taxpayer.

To that end, the plaintiffs have funded the filing of an amicus curiae brief by IIUSA in a separate action against the USCIS by the Behring Regional Center currently pending in the District Court for the Northern District of California. “We believe a global ruling in the Behring case could serve the industry at large and is worthy of our support,” the plaintiffs added in their joint statement.

About Golden Gate Global
Golden Gate Global is an award-winning regional center operator headquartered in San Francisco, California. Established in 2011, Golden Gate Global has been offering EB-5 visa opportunities through institutional quality real estate projects with partners such as Lennar Corporation, JMA Ventures, Sacramento Kings, and Signature Development Group to EB-5 investors from all over the world. Golden Gate Global enjoys a 100% USCIS project approval rate and has been successful servicing over 1,300 EB-5 investors. For more information, please visit www.3gfund.com.

For more information: +1 (415) 986-8888 / [email protected] / www.3gfund.com

SOURCE Golden Gate Global

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