Join host Ali Jahangiri as he chats with Ignacio Donoso, Managing Partner at Donoso & Partners, LLC, about selecting advisors and creating strong relationships to drive successful EB-5 investments.
Ignacio Donoso: The EB-2 and EB-3 waiting list for India is really quite something. It is hovering in the decades. On paper it’s a ten year waiting list.
Ali Jahangiri: And now we’re able to file EB-5 to boost our EB-2 and EB-3s.
Ignacio Donoso: Yeah. Anybody who is on an EB-2 or EB-3 has had it up to here with the idea of an endless, very skilled worker visa and the promise of a permanent residency that never arrives. He says, okay, I have the wherewithal to make this investment and I’m going to move forward. It’s the ability to get on with your life.
Ali Jahangiri: This is The Voice of EB5 by EB5 Investors Magazine. Each week we sit down with experts in the EB-5 investment space to get valuable insights in the latest EB-5 news. Ignacio, welcome to The Voice of EB5. It’s a pleasure to have you on the live podcast today.
Ignacio Donoso: Thank you, Ali. It’s great to be here and thank you so much for inviting me. I hope that we can have a great session that helps explain to people some of the wonderful benefits of the new program.
Ali Jahangiri: Great. So a little bit of a background. You’ve been in the immigration space for quite some time. We’ve known each other for a while now. I know you worked at FosterQuan before. One of the top immigration lawyers in our magazine, actually. So over the last 18 years, you’ve been practicing law and Ignacio has advised a lot of companies. And since 2003, you represented a lot of employees, skilled workers, professors, researchers, professionals, and you helped them out with their immigration planning to the US. So I know you’re more diverse than just EB-5. Ignacio was also selected to serve many of the AILA committees, and you’ve worked as a liaison and a few other organizations across the US. You’re currently specializing in EB-5 because I see you a lot. I’m guessing that’s what you do a lot, and I kind of want to hear more about your practice. But Ignacio is one of our well educated attorneys that has been our Top 25, and I welcome you to the podcast.
Ignacio Donoso: Thank you so much. Thank you for the introductions.
Ali Jahangiri: Absolutely. So there’s a lot of attorneys in the space, as we know. And where does your specialty lie in the space of EB-5?
Ignacio Donoso: Well, in relation to EB-5 in particular, I’ve represented both regional centers and investors, and really the strength of my practice is how deep it is, how robust it is, because I’ve seen so many facets of what the Immigration Service can do with an EB-5 case. So we have the ability to compare projects on an ongoing basis, both at the I-526 and the I-829 stage, which we then feed into our preparation of new cases. Whenever we see a trend emerging, we take that into account. It also means that we have the ability to comment to our clients how things are evolving and where are the inflection points that they can anticipate in their visa journey.
Ali Jahangiri: So are you – most of your clients, the actual investors, or is it the developers?
Ignacio Donoso: Most of my clients are the actual investors, yes.
Ali Jahangiri: So you’re in the business of a lot of 526 work, correct?
Ignacio Donoso: 526s, 829s. That’s right.
Ali Jahangiri: Do you also follow the lawsuits as well? The mandamus…
Ignacio Donoso: Well, mandamus is different. We do have a fair number of mandamus cases. We don’t do some of the federal court litigation that’s been going on. It’s not something that we pursue. We typically refer that out to the firms that are really stronger in that field. I think it’s the right approach.
Ali Jahangiri: So most of your work is helping with a lot of the investors file their forms.
Ignacio Donoso: Yes. Really, it’s the relationship because these things take forever, right? This is not a short process in the best of circumstances. Even with the new program running at best as it can, this is a five year cycle. We basically build the relationship with the client from when – from the moment they tell us that they want to pursue this and we analyze it from the client’s perspective, what’s best for you, what’s best for your family, what’s best for your children. If this is the right solution at this time, you know, who are the target people in your family that are going to lead the way? What’s the sequencing of the visas for the whole family? Source of funds is a major part of that initial conversation.
Ali Jahangiri: It’s been ten years since you’ve owned your firm. Are you practicing mostly EB-5 or is it like half of the practice, EB-5?
Ignacio Donoso: It’s really mostly EB-5, but everything else under the sun for me means investor immigration. What I focused on for most of my career as an immigration lawyer is investor immigration. So start ups, EB-2s, Ls, EB-1Cs, EB-1 extraordinary ability visas for entrepreneurs. Certainly we’ve done visas for athletes, artists, people in the media, journalists, researchers, you name it. But we tend to have a very strong clientele among entrepreneurial families.
Ali Jahangiri: Where is the office located and who’s a part of your team?
Ignacio Donoso: Head offices are in Washington DC, and we have approximately 14 staff members in Washington and we have satellite offices in Toronto for our Canadian visa work. And we also have a satellite office in Delhi for both EB-5 and L visas. EB-1Cs, EB-1As for Indian born professionals.
Ali Jahangiri: What does a satellite office in India do? How does that work?
Ignacio Donoso: You probably know that in India, as a foreign lawyer, you cannot practice law. You have to hire a local lawyer. And we’ve got – we’ve had the good fortune of working with two wonderful lawyers for many years now that have been part of our team in India, in Delhi. So as part of our team, we rely on them for giving us 24/7 services. So it’s the handshake between India time and Eastern time or North America time. So not only in terms of technical skills and client relations, client liaison, but just in general and supporting the team here in the United States.
Ali Jahangiri: So your Indian lawyers are working with source of funds and other issues. So are you aware that the Indian tax to pull money out or the fee to pull money out is increasing, right? It’s 5% till the end of this month. Is it?
Ignacio Donoso: I don’t write the rules. I just warn people about. So we had an article, you know, several weeks ago about this issue and we’re telling all of our clients or prospective clients yet, please take this into account. This could impact your pocket book. This is really where it hurts.
Ali Jahangiri: It’s 5% right now, but what is it going up to?
Ignacio Donoso: It’s going up to I believe 20%.
Ali Jahangiri: That’s insane.
Ignacio Donoso: Yeah. This is serious. This is, you know, you can get it back in principle, but upfront, you have to disperse this money out of your own pocket.
Ali Jahangiri: How do you go about creating ways to lower that number? Is there maybe a swap or something available? Is there any other way to do it?
Ignacio Donoso: No, I think for the time being, the best approach is to understand that if you take steps before the new tax takes effect, then you don’t have to worry about swaps or, you know, novel investment products. At the end of the day, the core rule could be interpreted more broadly. We don’t know yet, but for the time being, it’s crystal clear that if an investor moves money before the new tax enters into effect, then it’s 5% instead of 20%.
Ali Jahangiri: Got it. Now, what other countries do you focus on besides India? You said you do the Canada program.
Ignacio Donoso: We do, yeah. But that’s a completely different conversation. But we do.
Ali Jahangiri: It is. But I’m just curious where, kind of, the Donoso firm lies. you got it in India, you got some Canadian immigration, right?
Ignacio Donoso: You see, Canada has had a prominent relation with India and China as a destination for immigrants for many, many years.
Ali Jahangiri: And then within the rest of the folks who are in DC – what do they do? They work on a certain country or certain language?
Ignacio Donoso: We’ve always had a strong bench or a deep bench of lawyers and paralegals that they’re native Mandarin speakers because many, many of our clients are from China. And we’ve, you know, we built relationships with agents in China who are still operating under the new program. And that’s important to be able to manage those clients, those relationships. So we’ve always had a lot of strength in our team for Chinese speakers.
Ali Jahangiri: So you do in Latin America as well.
Ignacio Donoso: Yes. And I don’t want to get ahead of myself, but we’re looking at opening a satellite office in in Mexico City. That’s going to be by the end of 2023. We should have one, but that’s still in the works. Not formal. Not formalized yet.
Ali Jahangiri: Why Mexico City? Why not Buenos Aires?
Ignacio Donoso: I think the volume of potential clients across the investor immigration space from Mexico has always been consistent. It goes a little bit up and down, but it is quite consistent. I’ve always had a helpful practice. There are wonderful clients and we’ve been talking to a wonderful, reputable law firm in Mexico City about closer ties. So this is just the fruit of what’s been going on for the last 12 months.
Ali Jahangiri: I’m missing any other countries that you guys service?
Ignacio Donoso: Well, we’re always looking to expand. We’ve had wonderful clients from Canada. We’ve had European clients from United Kingdom. I mean, I could go on and on and on. I’m like many, many firms that work in the EB-5 space. Their client roster is really extraordinarily international.
Ali Jahangiri: Who sends you the clients generally? Is it – do they call you directly or do you work with the agents network?
Ignacio Donoso: During the initial part of the EB-5 program until the lapse in 2021, we had one very strong set of relationships with foreign agents. Many of those agents under the new legislation have asked us how to comply with the registration requirements under form 946Ks. Those relationships can continue. It’s just that the market is always changing. And from our perspective, if you take care of clients, keep at it and make sure that people do the best they can under the circumstances, you know, it just builds that long, broad network that you want.
Ali Jahangiri: So for someone who’s kind of new in listening to this, for new developers, listening in on the podcast, how is the relationship between you and the investor as compared to you and the developer? Do they just say, hey, Ignacio, here’s a deal we want to do? Can you do the paperwork? Do you typically know the projects or are you pretty far from the actual EB-5 projects, or are you more helping the investor pick whatever they want to pick?
Ignacio Donoso: Sometimes investors come in bundles. This is very, very typical of all immigrants that they group together. And sometimes that means that a group of individual investors will come to my firm and say, well, we found this project and we want to move forward as fast as possible. But frequently part of the conversation is moving forward as fast as possible. Yeah. And so in that situation, we don’t do a project analysis unless it’s called for. We will do, you know, a threshold level analysis. Other times the client says, I need to get your company to analyze several projects and talk to me about whether you think this is the right approach. And by the way, here’s my resume and my wife’s resume. And I’d like you to also look at other visa options in addition to EB-5. So it’s kind of like a 360 degree whole family approach. And, you know, that’s par for the course for our firm. Other times we have agent relationships or regional center relationships where they would say, Ignacio, we will send you cases because they trust the credibility, the accuracy of the analysis and the efficiency of the firm.
Ali Jahangiri: I see. So it kind of comes from a very different place.
Ignacio Donoso: Yeah. I mean, from an agent’s perspective, the key is quality and speed from a regional center perspective. The key is quality, speed and transparency, I should say. The agent also wants transparency. They don’t want the law firm that’s handling an important client’s case and every client is an important client to disappear, to not do things expeditiously or to give the client, you know, shallow advice, mistaken advice. This is a challenging field. If it was a cakewalk, I would be having a different conversation with my clients. But it’s challenging technically. It’s challenging in terms of all the moving parts. It has such a strong component of corporate work, corporate documents and banking documents, contracts not typical of other immigration fields. So because of the additional moving parts like that, people want pretty, you know, pretty robust analysis.
Ali Jahangiri: It’s broad services too – very broad – anywhere from looking at a project to, I’m sure, wiring money from another country. It’s very broad stuff. What do you think it’s going to look like in the next, call it 24 months with EB-5? Next 36 months. What do you think it’s going to look like?
Ignacio Donoso: It’s going to be a mad dash. It’s going to be the Cannonball Run. How fast can we get across the country? Cannonball Run is a movie from the 1970s. I think it still continues today. But the original Cannonball Run was basically, I think a bunch of 1970s movie stars were all like household names, getting in cars, running, rushing across the country. Who could get there first? And the reason why I mention that is because we’re all waiting for that first visa approval under the new program. And once that happens, it’s going to be a mad dash because there’s an unusual and unhelpful level of uncertainty today, entirely self-inflicted by our dear friends at the Immigration Service who’ve, you know, been circling the wagons, talking to themselves, not analyzing cases, not issuing decisions to the public for the last 12 months. And the public is getting exasperated and the program looks like it’s, you know, basically either grinding to a halt, perhaps you can call it a black box, perhaps you can call it a waste of time. The case is it’s an issue for investors and investors want certainty. They deserve it at the investment thresholds that they’re paying at the visa fees that they’re paying at the filing fees that they’re paying. Yes, they deserve certainty. Not a guaranteed result, but certainly a reasonable expectation of delivery of a decision.
Ali Jahangiri: How much is that following now?
Ignacio Donoso: You know, in round numbers, you’re looking at $3,500 for the 526 and just under $4,000 for the 829. And in round numbers, that’s going to bump up to $20,000 between the 526 and the 829 in the future. That’s one case from one family. Regional center fees are going through the roof with new amendments passing in round numbers, $47,000. And then there’s the annual regional center fees, which are kicking in on April 1st, if I’m not mistaken. There’s a whole bunch of fees that are being added.
Ali Jahangiri: April 1st is that when they’re supposed to kick in?
Ignacio Donoso: Yeah. Think so?
Ali Jahangiri: That’s an important date.
Ignacio Donoso: Yes, it is.
Ali Jahangiri: So the fees are increasing to what?
Ignacio Donoso: There is an annual regional center fee under the Reform and Integrity Act, and that regional center fee is $20,000 for regional centers and more than 20 investors, $10,000 for regional centers with 20 or fewer investors. And that is now due April 1st. So we are just a couple of days away from regional centers having to kick in some money to the kitty so the integration service can run. Fraud detection and security background checks.
Ali Jahangiri: That’s not fun.
Ignacio Donoso: No, no. But with more zeros.
Ali Jahangiri: Oh, no. Something to be happy. Happy day.
Ignacio Donoso: That’s all the regional centers. So that’s a different animal. But the one that bothers the general public is are the fees for inaction.
Ali Jahangiri: That’s interesting. So what’s going to be the biggest issue in the next 2 or 3 years is going to be the fact that the dollar has gone up and other currencies have gone down. Do you feel like that’s a major issue?
Ignacio Donoso: Dealing with the dollar is a big challenge. For example, Mexico’s exchange rate with the dollar has improved significantly in the last 12 months.
Ali Jahangiri: It depends on the country, right? So because those countries…
Ignacio Donoso: And then that has a double effect, right? Because for people to take the example of Mexico, for people from Mexico who want to pursue an EB-5 investment or any investment in the United States, this is wonderful. They’ve just saved themselves 10% or even more in comparison to 12 months ago. But at the same time, there are people in Mexico who will say, well, things are okay here. Perhaps we don’t need to rush and move to the United States. So everything cuts both ways depending on the family macro level issues. I think the war in Ukraine is a huge issue. It’s just a normal human reaction to hedge your bets. And that’s the dominant trend when you see a war raging somewhat unpredictably in Central Europe. Of course, there are people who are going to look at exactly that situation and say this means that we need to take action. And there are others that will say, and I think the dominant trend is to say we need to slow down and see what happens. So that is kind of a brake on not just the program, it’s everything across the economy, whether it’s international travel or investment of any kind. So once that’s settled and got, God willing, it will be settled and there will be peace again in Europe, then I think the world economy will react positively to that.
Ali Jahangiri: Yeah, because the money down, like your neighbor, Buenos Aires and Argentina, that money has been devaluing quite a bit.
Ignacio Donoso: Very good point. I think another, let’s say more domestic level issue is the pervasiveness of visa waiting lists. They are driving people into the EB-5 program who are people that were really dedicated to the EB-2 and EB-3 program, or now even the EB-1 program, whether it’s EB-1A, extraordinary ability or EB1C, multinational managers, the folks that were well on track in these established permanent residency programs through employment are taking a serious look at the EB-5 program to determine whether it’s an alternative that they want to pursue, partly because they’ve been able to make enough money either abroad or in the United States. God bless them for that. This is good for the world, right? Seeing people accumulate capital of this type is fantastic. It means that economies throughout the world are getting economic growth.
Ali Jahangiri: When you say concurrent filing – when I hear that, what does that mean when they talk about that?
Ignacio Donoso: I don’t use concurrent filing, I use simultaneous filing. That’s the normal way of talking, right? Concurrent is immigration lawyer jargon. It’s a really simple idea. Every green card program in the United States has two key moments. One is the request for the green card and the other is the delivery of the Green Card. There are two moments. Two different applications in the family system is form I-130 immigrant petition for alien relative, in the EB-5 system under a regional center investment, it’s form I-526E petition for a regional center investor. That is a request to the US Immigration Service to grant permanent residency through investment to a group of people, one person and their dependents. If that application or petition, as it’s called, is up true, the next question is where are you eligible to receive delivery of that permanent residency card and adjustment of status form I-45 is one option available to people who are lawfully in the United States and don’t have certain immigration violations. So you have to be number one in the United States at the time.
Ali Jahangiri: Is that I-45 exclusive to EB-5?
Ignacio Donoso: No it’s not. It’s completely generic to all immigrant visas or permanent residency visas.
Ali Jahangiri: Can you apply for like an EB-1 and an EB-5 at the same time?
Ignacio Donoso: Yes.
Ali Jahangiri: So can you file for a L-1 and a that’s a non-immigrant visa, right? The L-1?
Ignacio Donoso: Correct. Temporary.
Ali Jahangiri: Temporary. File for a temporary and a permanent at the same time?
Ignacio Donoso: Yes, you can.
Ali Jahangiri: That’s what simultaneous means when you can apply for everything at the same time?
Ignacio Donoso: Well, there’s different levels. Of simultaneity. You can’t file a temporary work visa to the United States and request permanent residency to the United States at the same time. Now, the actual timing of entries and exits may be impacted by the fact that you’re applying for, let’s say, one type of visa, but one temporary visa in comparison to another visa. Let’s give a really dramatic example. You apply for a visitor visa, a B visitor visa or tourist visa at the US consulate in your home country, and you simultaneously file a marriage based permanent residency petition because you married an American citizen. And that particular example has a problem attached to it, which is called the immigrant intent rule. You cannot have intention to come and live in the United States if you’re requesting a visitor visa. Completely different situation if you’re requesting an L visa. It’s a dual intent visa. It just doesn’t matter what your intention is. So you can request permanent residency. Any permanent residency through the employment or family based system if you’re requesting an L visa because it’s a dual intent visa, the visa is indifferent to whether you want to live in the United States for a few years or for the rest of your life. So this is some of the planning and scheduling that we do with our clients.
Ali Jahangiri: So I want to understand that the concurrent or simultaneous, does that involve – when people say that, do they talk about that being for permanent visas or are they talking about that for anything?
Ignacio Donoso: Yes, it’s a good question. So usually when we talk about concurrent filing or simultaneous filing, we’re talking about filing one permanent residency petition with a request for adjustment of status. And those are typically used that’s concurrent or simultaneous filing.
Ali Jahangiri: So that’s EB-5. And then what’s adjustment of status?
Ignacio Donoso: Adjustment of status is, is the request by a person who’s physically present lawfully in the United States to have their green card delivered in the United States without having to go home to their local US consulate in their home country. When somebody talks about concurrent filing, that’s what they’re talking about or simultaneous.
Ali Jahangiri: So it means I’m currently in the United States with an H-1B and I file my EB-5.
Ignacio Donoso: Yes. So one of the things about concurrent filing is that you have to be lawfully in the United States. And there’s a lot of details.
Ali Jahangiri: Let’s assume all of it’s lawful. But my question to you is, H-1B is only X number of years. What if that ends and I have to go back?
Ignacio Donoso: It could happen.
Ali Jahangiri: So the concurrent really doesn’t make a difference. Towards the end of my EB-5 about to get my 829 and I’m in H-1B.
Ignacio Donoso: The thing about concurrent filing – and you make a really good point, when does it really change people’s lives? And I would argue if it’s actually right now is when it’s most interesting for somebody. Let’s give the example of somebody who is now on age status. And just to make it interesting, let’s assume that this person was born in India and has an EB-2 and an EB-3 employment based permanent residency petition approved. So they’re working lawfully in the United States to options of getting permanent residency. Both of them, however, are subject to really long waiting lists. So this particular candidate or potential investor is looking at EB-5 to determine whether quantitatively and qualitatively it’s going to be an improvement over the current situation because they already have two permanent residency options and a very helpful work visa. So we look at concurrent filing and we say two things. Number one, are they lawful? Yes, they’re lawfully in the United States. Number two, is there a visa waiting list for a visa for this particular person? And the answer is no, there’s not. So. That person is eligible to file not only the I-526 immigrant application through a regional center investment, they’re eligible to file concurrently or simultaneously form I-485 adjustment of status, which does three really important things. Once you file it, that person can remain in the United States regardless of their temporary visa status, regardless of their age status. So suddenly they are free from the age system. I’m not saying the age system is a bad system. I’m just saying that perhaps their life goals or their career goals involve starting your own business or working for many companies as a consultant. Whatever the case is, you are now eligible to remove yourself from the age system if that’s what you want. You don’t have to be tied to an age to remain in the United States. Number two, you have access to a temporary work permit under the adjustment of status, and that’s a temporary work permit is really interesting because I call it an open work permit. So you can work as an employee part time or full time. You can work as a consultant part time or full time, or you can own your own business. Now, you cannot do that with an H. You’re going to have a series of hoops, many hurdles to be able to pull that off with an H visa, but with an open work permit or I-765 EAD employment authorization document under adjustment of status, suddenly all those doors are open.
Ali Jahangiri: So at this point I’d like to say come see Ignacio for help because I’m lost right now.
Ignacio Donoso: It’s too much.
Ali Jahangiri: You said someone is under EB-2 or EB-3 and then they wanted to get in front of the line, so they also file the EB-5. That’s what we were talking about in the first fact pattern. So why are you bringing in H and all this other stuff? So your example was EB-2 and EB-3 and you can currently file an EB-5. Does that mean that I get my EB-5 process faster? In that case, if my EB-2 and EB-3 were ready to go and I was just waiting in line, does that mean I get a fast EB-5?
Ignacio Donoso: Yes, it’s a massive boost.
Ali Jahangiri: What does that mean? Does that mean automatically? As soon as I put my investment in, I got it. If I’ve been in the EB-2 and EB-3 line for six years.
Ignacio Donoso: Let’s take a typical example of somebody on EB-2 or EB-3. They are working in the United States on H-7, so that’s where the H came into the picture.
Ali Jahangiri: Okay, so they need an H to work. EB-2 and EB-3 need an H to work.
Ignacio Donoso: You don’t need for practical purposes. Companies that hire you on H status like your work, they’re going to sponsor you need EB-2 or EB-3.
Ali Jahangiri: Let’s just put a real example. I’m on my EB-2 with year seven or EB-3. That’s year seven and I just filed my EB-5 this year. What does that mean?
Ignacio Donoso: So you’re already past your six years of initial age status and you are getting the benefit through I-45 concurrent funding with I-526 EB-5 petition of basically spinning away from that relationship you have with your employer. Maybe it was a good relationship, but you’re growing, right, as a professional. You want to do something else, when your career, as I mentioned, it allows self-employment.
Ali Jahangiri: Can I get my green card faster by filing the EB-5 if I’m on the EB-2 track?
Ignacio Donoso: Well, this is – this goes back to what I said earlier. Remember what I said?
Ali Jahangiri: I sound like an investor now. Can I get my green card faster?
Ignacio Donoso: The answer is a cautious yes. So remember what I mentioned, the Cannonball Run or Cannonball Rally? The reason I said that when we start getting calls, the people react. And right now, if somebody says, Mr. Donoso, you’ve been at this for many years now and you have a wealth of knowledge, when do you think if I filed my visa petition today in the EB-5 program, will I get a decision? And I’m like, my friend, the Immigration Service is an unpredictable regulatory agency. The best guess that I can give you, give them my wealth of experience is two years. Heard a lot of things what you said though. So one of them was “guess.” My friend, I cannot tell you something I don’t know. I have no data point, no experience with the legal system. That would give me an answer. That answer you in concrete terms. And our dear friends at the Immigration Service, the regulatory agency, have steadfastly refused to either tell us what, for example, priority processing or rural petitions means, or give us an example of how long it will take. So I believe today there was a news item promoted by a regional center saying that either they or somebody that they were aware of received project approval for a rural project in approximately nine months.
Ali Jahangiri: That might be just a rumor. We don’t know, right?
Ignacio Donoso: I have no idea whether it’s true or not. But this is how rumors get started.
Ali Jahangiri: Well, I think I understand now. So basically I become closer to the front of the line. If I find an EB-5 while I’m here on an EB-2 or EB-3.
Ignacio Donoso: That’s it. So the EB-2 and EB-3 waiting list for India is really quite something. It is hovering in the decades. On paper it’s a ten year waiting list.
Ali Jahangiri: And now we’re able to file an EB-5 to boost our EB-2 and EB-3s.
Ignacio Donoso: Yeah. Anybody who is on an EB-2 or EB-3 has had it up to here with the idea of an endless, very skilled worker visa and the promise of a permanent residency. It never arrives, says, okay, I have the wherewithal to make this investment and I’m going to move forward. It’s the ability to get on with your life. You’re looking at a family that, number one, they’re skilled. These are all skilled workers. So they’re highly educated. Ambitious people have been able to make it with whatever employer is sponsoring them in the United States, which means that they’ve proven themselves apt or there’s a good – it’s a good fit with the US labor market. Right. Yet they’re not getting a break. They’re told, okay, you applied in 2016. The waiting list is ten years and I’m undercounting the waiting list by several decades. Depending on who you ask.
Ali Jahangiri: I think I need session – part two of Ignacio Donoso’s immigration. If I start getting this deep, I’m going to start learning a lot.
Ignacio Donoso: This is good stuff. This is the decision making that people go through and God bless them, they are so informed.
Ali Jahangiri: No, it’s good because I never knew what concurrent filing actually was. I hear it all the time. I’m like, what does that mean? So I’m glad we had this talk. I think I’ll bring up another hot buzz term for you next time on the podcast.
Ignacio Donoso: Hopefully we’ll have actual concrete results. We’re going to have a stakeholder call in April from the Immigration Service, so we’re going to get news from the Oracle.
Ali Jahangiri: Yeah, we’ll continue to Donoso part two. All right.
Ignacio Donoso: Thank you.
Ali Jahangiri: Thank you so much for everything.
Ignacio Donoso: Take care.
Ali Jahangiri: This has been the voice of EB5 by EB5 Investors magazine. To learn more about this episode, please visit EB5Investors.com/podcast. To stay up to date with the latest EB-5 discussions, be sure to subscribe to the show wherever you listen to the podcast and if you like the show, please consider leaving us a five star review. It helps us out a lot. See you next week.