USCIS and the EB-5 ProgramFebruary 2, 2021
USCIS and the EB-5 Program Nomination Homeland Security
Biden Nominates Alejandro Mayorkas as Secretary of Homeland Security
President Biden continues to signal a return to pre-Trump immigration policy with his nomination of Alejandro Mayorkas as Secretary of Homeland Security. Mayorkas’ confirmation continues to move forward as his nomination passed committee and is expected to be confirmed by the full Senate soon.
Mr. Mayorkas, himself a Cuban-born immigrant, has a significant history with the U.S. Citizenship and Immigration Services (USCIS) and with the EB-5 Program. Mr. Mayorkas served as the Director of the USCIS and later as the Deputy Secretary of Homeland Security under President Obama.
Prior to his nomination as Secretary of Homeland Security earlier this month Mr. Mayorkas had returned to private practice providing legal services to well-known clients such as Airbnb, Cisco systems, T-Mobile, MGM Resorts, Twitter and Northrup Grumman.
Should Mr. Alejandro Mayorkas be confirmed as the Secretary of Homeland Security, this will likely be an important step in President Biden’s shift to a more open immigration policy. President Biden has already signaled his intention to expand and streamline immigration to the United States. It remains to be seen how quickly or fully the Biden administration will move to change Trump era policies, but President Biden has issued numerous executive orders and policy guidelines that indicate his willingness to return to a pre-Trump expanded immigration policy. Significantly, President Biden has revoked the travel ban implemented by former President Trump that restricted travel and immigration to the U.S. from several Muslim-majority countries
CMB welcomes the Biden Administration’s fresh look at U.S. Immigration Policy. The CMB team continues to monitor events and legislative proposals that may effectuate immigration reforms especially those that have a potential to impact the EB-5 program.
CMB 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 partnerships.