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EB-5 News Archive for December, 2010








South Dakota governor lauds construction at beef processing plant

December 30, 2010 @ 2:10 pm
Posted by Exclusive Visas

South Dakota governor lauds construction at beef processing plantSouth Dakota Governor Mike Rounds says the resumption of construction at a multimillion-dollar beef processing plant near Aberdeen could have positive effects on the state as a whole, the Daily Republic reports.

The governor said that the announcement that construction on the $70 million plant will resume is important as the owners of the facility expect it to process 390,000 head of cattle each year.

"That’s a lot of beef and a lot of prosperity for South Dakota cattle producers, the people who will be working here and all of the people here in our state,” said Rounds, who will leave office next month because of term limits. “It means South Dakota cattle producers will now have an in-state processing plant."

Part of the funding for the project is reportedly coming from Asian investors who are participating in the federal EB-5 visa program, the news source said. Through this program, foreign nationals can obtain U.S. green card eligibility if they make an investment of $1 million (or $500,000 in some areas) in an American company or project that creates or maintains at least 10 full-time jobs.

Governor Rounds said that the EB-5 visa program would provide an additional $50 million in financing from the foreign investors.
 

USCIS seeking more information on California EB-5 regional center closingSome Victorville, California city officials are saying it's a good sign that the U.S. Citizenship and Immigration Services (USCIS) wants further documentation related to the city's EB-5 regional center, the Victorville Daily Press reports.

The officials feel that the request could mean the city will be allowed to continue raising funds through the federal EB-5 visa program.

"On the face of it, it sounds positive," Jim Kennedy, who joined the council earlier this month, said of the news.

Through the EB-5 visa program, foreign nationals can obtain U.S. green card eligibility by making an investment of $1 million (or $500,000 in some areas) in an American project or company that either creates or maintains at least 10 full-time jobs.

The recent request by the USCIS came in response to the city's appeal of the agency's decision to terminate Victorville's EB-5 program, which the city is hoping can fund its wastewater treatment plant. The letter reportedly seeks information proving that the city has met the program's job creation requirements, the news source said.
 



How to utilize the EB-5 visa program by investing in a troubled business

December 29, 2010 @ 1:32 pm
Posted by Exclusive Visas

How to utilize the EB-5 visa program by investing in a troubled businessOne of the ways for foreign nationals to obtain U.S. green card eligibility through the federal EB-5 visa program is to invest in a troubled business, according to the U.S. Citizenship and Immigration Services (USCIS).

In order to qualify in this instance, foreign nationals must invest in a business that has existed for at least two years and incurred a net loss for the 12 to 24-month period prior to filing the Form I-526 Immigration Petition.

The loss during the 12 to 24-month period must also be equal to at least 20 percent of the business's total net worth prior to incurring the loss, according to the USCIS website.

In addition, the investment must at least maintain the number of jobs at the business for a period of at least two years. The investor also needs to be involved in the daily management of the business, with the positions of corporate officer and board member as two examples given by the USCIS.

Finally, foreign nationals should understand that they need to invest $1 million (or $500,000 in some target areas) in the troubled business in order to qualify for the EB-5 visa program.
 

More states looking to follow Arizona on immigration reformRandy Terrill, a Republican lawmaker from Oklahoma, is one of many state legislators across the country drafting measures that would either match or go further than Arizona's controversial law on immigration, Bloomberg reports.

Terrill is reportedly working on legislation that would allow authorities in Oklahoma to take the vehicle of anyone who is found to be harboring an illegal immigrant as a passenger, regardless of whether or not smuggling is suspected.

The measure would reportedly characterize undocumented immigrants in the U.S. as "human contraband," according to the news provider.

Approximately 300 bills related to immigration were introduced to statehouses in 2005, according to Ann Morse, director of the Immigrant Policy Project for the National Conference of State Legislatures. Morse told the news source that in each of the last two years, that number has increased to about 1,500. She said she expects the number to go even higher in 2011.

"Every indication I get is, they're not done," Morse told the news provider.

Regardless of whether these laws are ultimately enacted, foreign nationals can still obtain U.S. green card eligibility by using the federal EB-5 visa program. Through this program foreigners can obtain the eligibility by making an investment of $1 million (or in some areas $500,000) in an American project or company that creates or maintains at least 10 full-time jobs.
 



California city plaza project seeks to utilize EB-5 visa program

December 28, 2010 @ 1:54 pm
Posted by Exclusive Visas

California city plaza project seeks to utilize EB-5 visa programAfter being delayed by scandal and the struggling financial market, California's Temple City Plaza project may be receiving assistance from the federal EB-5 visa program, the Pasadena Star-News reports.

According to the news provider, the project is currently expected to be a commercial development with a price tag between $20 and $30 million.

Randy Wang, the owner of the property, obtained EB-5 regional center status in October from the U.S. Citizenship and Immigration Services (USCIS). This is the first step in the process that would allow the project to receive financial support from foreign investors.

Through the EB-5 visa program, foreign nationals can obtain U.S. green card eligibility by making an investment of $1 million (or $500,000 in some areas) in an American project or company that either creates or maintains at least 10 full-time jobs.

An EB-5 regional center is defined by the USCIS as "any economic unit, public or private, which is involved with the promotion of economic growth, improved regional productivity, job creation and increased domestic capital investment."

"Given we're in a down economy," city manager Jose Pulido told the news source, "this is an alternative funding source."
 

EB-5 Investor Visas - Permanent U.S. Residency with the EB-5 Program

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