EB-5 administration leader JTC has joined advocacy organization AIIA to strengthen its lobbying efforts for the EB-5 Immigrant Investor Program.
SAN JOSE, Calif., April 22, 2024 /PRNewswire-PRWeb/ -- JTC has announced its support of and membership in the American Immigrant Investor Alliance (AIIA), a non-profit organization advocating for investors in the EB-5 Immigrant Investor Program. As one of the biggest names in EB-5, JTC's support of AIIA adds to the organization's growing influence as it pursues a better-functioning immigration system.
The EB-5 Immigrant Investor Program is a government initiative that allows foreign nationals to pursue permanent U.S. residency by making investments that create U.S. jobs and impact underserved areas. EB-5 has directed billions of dollars of investment to U.S. communities, but for many years was plagued by fraud and abuse, as well as uncertainty around the program's future due to periodic lapses in authorization for the Regional Center program, which allows investors to pool investments in large-scale projects.
The EB-5 Reform and Integrity Act of 2022 instituted new integrity measures to protect investors from fraud, but industry stakeholders say improvements are still needed to address issues like slow adjudication times from United States Citizenship and Immigration Services (USCIS) and future potential lapses in authorization for the Regional Center program. By bringing together investors and issuers under a common advocacy organization, it may be possible to achieve permanent authorization and pressure USCIS to address issues in areas such as visa wait times.
JTC is a global financial services leader offering solutions for both institutional and private clients, including fund, corporate, banking, tax compliance, and private office services. With a team of more than 1,700 across 32 offices worldwide, JTC has continued to build on its 36-year history, which includes providing services to 8 of the 10 largest global investment banks and 20% of FTSE 100 companies. In North America, JTC provides purpose-built solutions to institutional and private clients, allowing US-based clients to expand overseas and international clients to enter US markets.
As the leader in EB-5 administration for many years, JTC has pioneered best practices that have since become legislatively-mandated. Offering a range of services including escrow, fund administration, cosignatory, and more, JTC provides RIA-compliant solutions for Regional Centers that can simplify processes and increase efficiency while helping build investor confidence through increased security and transparency. Thanks to its global presence, JTC also offers services beyond typical EB-5 administration, including wealth management and trust services for investors.
The American Immigrant Investors Alliance (AIIA) is a Washington, D.C. based 501(c)(4) nonprofit advocating for the interests of EB-5 investors from around the world. AIIA is dedicated to informing, educating, and advocating on behalf of all EB-5 investors, with the goal of giving immigrant investors a real voice in U.S. politics by advocating for a more equitable and transparent immigration program. AIIA is most notable for its efforts in lobbying for the grandfathering clause during EB-5 reauthorization, advocating for greater data transparency within the EB-5 space through Freedom of Information Act litigation, and a diverse member base from all over the world.
"JTC is proud to support AIIA and its mission of protecting EB-5 for the investors who make this initiative possible," said Jill Jones, General Counsel, ICS USA at JTC. "By bringing together industry stakeholders with a common goal, we can ensure that EB-5 and the Regional Center program can continue to impact communities and help immigrant investors pursue the American Dream well into the future."
To learn more, visit JTCGroup.com/eb-5.
About JTC
JTC is a publicly listed, global professional services business with deep expertise in fund, corporate and private client services. Every JTC person is an owner of the business, and this fundamental part of our culture aligns us with the best interests of all our stakeholders. Our purpose is to maximize potential, and our success is built on service excellence, long-term relationships and technology capabilities that drive efficiency and add value.
In the US, JTC provides a full suite of bespoke Fund Administration solutions across multiple asset classes (private equity, real estate, venture capital, debt, impact, Opportunity Zones, insurance dedicated funds) in the US and abroad. As the industry leader in Specialty Financial Administration, JTC offers purpose-built solutions for markets characterized by high administrative and regulatory complexity, elevated transaction security needs, and challenging compliance requirements, including EB-5, 1031 Exchange, and Delaware Statutory Trusts. Along with our Private Client, Trustee, and Corporate Services divisions, JTC's US Institutional Client Services team combines sector-specific expertise with industry-leading technology to be a true partner in growth for our clients.
To learn more, visit JTCGroup.com.
Media Contact
Laura Kelly, JTC, 408-367-0826, [email protected], www.jtcgroup.com
SOURCE JTC
Share this article