Feds Hit With 1st Challenge Over EB-5 Program Changes

Law360 (December 2, 2019, 8:08 PM EST) -- A Florida-based company that assists foreign investors has lodged the first challenge to the Trump administration’s overhaul of the EB-5 investor visa program, accusing the U.S. Department of Homeland Security of ignoring the economic impact of the changes.

In response to a final regulation increasing investment amounts and changing how high-unemployment areas for investment are designated, Florida EB5 Investments LLC said in a lawsuit filed in D.C. federal court that DHS violated the Administrative Procedure Act by failing to consider data on the economic consequences of the regulation.

“DHS did not adequately consider an important aspect of the problem, the substantial...

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