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What does TRO mean in the EB-5 space?

I am a real estate developer trying to raise capital through the EB-5 program. I just finished speaking with a regional center. They told me they are currently on hold of any new businesses until they see if the TRO is issued in the new regulations. What does TRO mean? How would that impact my capital raising effort?

Answers

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    Stephen Berman

    Immigration Attorney
    Answered on

    TRO means temporary restraining order.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    It stands for a Temporary Restraining Order, in this case, it is an order to halt the regulations that went into effect in November increasing the investment amount, changing the Targeted Employment Area designations, and failing to address processing times and visa backlogs.

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    Belma Demirovic Chinchoy

    Immigration Attorney
    Answered on

    The regional center is probably referring to the lawsuit challenging the implementation of the new EB-5 regulations. If you are serious about raising EB-5 capital, I would suggest you look for another regional center partner.

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    Vaughan de Kirby

    Immigration Attorney
    Answered on

    There is a legal action challenging the action by USCIS to raise the investment amount to $900,000. This regional center may be waiting for a Temporary Restraining Order. However, it appears the court is reluctant to issue this order.

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    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    TRO stands for Temporary Restraining Order. It is a preliminary injunction requested by the plaintiffs asking the judge to enjoin or stop the implementation of the new rules. A news article published today indicated that the federal district court judge in this matter is reluctant to issue such an order.

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    Phuong Le

    Immigration Attorney
    Answered on

    It means a temporary restraining order. There has been a lawsuit to block the new EB-5 regulations from becoming effective. For the time being though, I would not hold my breath hoping the lawsuit will succeed and would operate under the assumption that the regulations be effective moving forward.

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    TRO is a temporary restraining order. There is a lawsuit trying to block the new regulations. From what I heard, the judge is not very impressed with the argument. So realistically, the TRO does not look like to it be approved.

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