IIUSA Virtual Industry Forum UpdateNovember 17, 2020
The IIUSA Virtual Industry Forum will continue this week, with guest of honor Charles Oppenheim, Chief of Visa Control and Reporting Division at the U.S. Department of State (DOS) presenting on Thursday. Mr. Oppenheim has participated at numerous EB-5 industry events over the years and graciously provides insights into trends he sees.
Among other responsibilities, Mr. Oppenheim’s most visible work is the publication of the DOS Monthly Visa Bulletin. This document is published mid-month for the subsequent month, and is used to ensure that numerical limitations are adhered to throughout the year. CMB has provided insights and updates on past Visa Bulletins, including the November Visa Bulletin.
Mr. Oppenheim has historically provided his predictions for what the Visa Bulletin will look like in the next six to twelve months. During an IIUSA Webinar Event in June 2020, Mr. Oppenheim foresaw that the DOS would likely struggle to fully open Consulate posts around the world for the remainder of the Fiscal Year 2020. Additionally, Mr. Oppenheim was the first to forecast that the unused visa numbers for the EB-5 category in Fiscal Year 2020 would be more than offset by the number of unused family-based visas that would roll across in FY 2021.
Although Mr. Oppenheim is the first to admit that the information he shares ahead of time are simply predictions – and may very well be wrong – his perspectives are insightful and give a glimpse into the DOS’s expectations for visa usage during the upcoming year. With the challenges caused by the COVID-19 global pandemic, Mr. Oppenheim may very well continue to provide the entire EB-5 industry with some insightful predictions this Thursday during his presentation to this year’s IIUSA Virtual Industry Forum.
CMB EB-5 Regional Centers engages Prevail Capital, LLC, a broker-dealer registered with the SEC and a member of FINRA and SIPC, to be the administrative placement agent for all CMB EB-5 limited partnerships. If you would like to learn more about the EB-5 Investor Visa Program, please contact us today.