DALLAS, TX – Civitas Capital Group, a Dallas-based alternative investment manager offering niche opportunities in U.S. real estate, announced its 13 regional centers across the U.S. remain compliant in the wake of USCIS’ recently issued alert that “interprets the provisions related to sanctions, including terminations, debarments, and suspensions, for noncompliant regional centers.”
On July 16th, USCIS (U.S. Citizenship and Immigration Services) issued guidance on new provisions in the Immigration and Nationality Act (INA) that cover consequences for noncompliance under the EB-5 Reform and Integrity Act of 2022 (RIA).
One of the new compliance requirements under the RIA is the establishment of the Integrity Fund. The Integrity Fund is primarily intended to allow USCIS to administer the EB-Program including the detection and investigation of fraud and other immigration related crimes as well as ensuring overall EB-5 Program compliance.
The Integrity Fund is funded through an integrity fee (the “Integrity Fee”) paid by each regional center that is due by October 1st of each year. USCIS said that it intends to issue a Notice of Intent to Terminate (NOIT) to regional centers that do not pay this fee on time.
Civitas has complied with the RIA by paying the Integrity Fee for its regional centers for fiscal year 2023 and fiscal year 2024.
Dan Healy, CEO of Civitas, said he’s extremely proud that Civitas has avoided the potential disruption a NOIT could cause a regional center. “Civitas paid its bills on time,” Healy says, “and therefore we are not affected by the widespread issuance of NOITs that is greatly affecting the EB-5 industry right now.”
Exactly how many regional centers recently have received NOITs is unclear. But Ron Klasko, Chairman of Klasko Immigration Law Partners, estimates that more than 100 — and possibly as many as 200 — regional centers have received notices of intent to terminate based on unpaid fees or fees alleged to have been paid in the wrong amount.
Jeff Kiser, Director of EB-5 Investor Relations for Civitas, says that those seeking citizenship through the EB-5 Immigrant Investor program should always conduct proper due diligence when investing. “It’s the most basic level of professionalism for a regional center to pay its fees on time,” Kiser says. “We always encourage potential EB-5 investors as well as existing EB-5 investors to insist that their regional centers remain compliant with all USCIS program requirements.”
Kiser added that if an investor discovers their regional center is currently facing a Notice of Intent to Terminate from USCIS, they should discuss their options with an immigration attorney.
As always, if potential EB-5 investors have questions about the EB-5 program, they can reach out to Civitas’ investor relations experts via email at [email protected].
ABOUT CIVITAS CAPITAL GROUP
Civitas Capital Group is a nimble alternative investment manager, founded in 2009, offering compelling, niche opportunities in U.S. real estate. Civitas exists to create opportunities that enrich our communities, investors, and employees alike. Driven by relentless creativity, Civitas digs deeper to uncover opportunities that others miss. Follow Civitas Capital Group on LinkedIn.
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