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EB-5 News Archive for the ‘EB-5 Legislation News’ Category








IIUSA issues statement on EB-5 Program Report issued by Inspector General

December 27, 2013 @ 4:45 pm
Posted by Exclusive Visas

IIUSA, the trade organization that represents several EB-5 Regional Centers throughout the United States, has issued a statement in response to the findings made by the Inspector General on the EB-5 program, and addressed to the director of USCIS, Alejandro Mayorkas.

To read IIUSA’s response, click here



The 6 Basic Steps to Obtaining Permanent Residency Under EB-5

August 28, 2013 @ 9:15 am
Posted by Exclusive Visas

Like every immigration program, the EB-5 program is a complex and intricate process with a lot of paperwork and many deadlines that must be met. Most EB-5 investors choose to work with experienced EB5 consultants and immigration lawyers to help the process go as efficiently as possible. These investor visas require that immigrants invest a minimum of $500,000 in an enterprise in the US that will provide at least 10 full-time jobs. Here are the steps involved in obtaining permanent residency under EB5.

1. Determine How You Want to Invest Your EB5 Funds

Most EB-5 investors choose to work with an established Regional Center project rather than starting their own business from scratch. Investing in a Regional Center located in a designated Targeted Employment Area (TEA) only requires the minimum investment of $500,000. There are over 200 Regional Centers in a broad range of industries so most EB-5 immigrants are able to find an investment to suit their interests.

2. Place Investment Funds in Escrow

When the investor has chosen a project, he or she must execute an escrow agreement to satisfy financial institution screening processes before depositing funds. Once the financial institution screening is successfully completed, the investor may then wire $500,000 to the escrow account, plus any syndication fees that may be required by the particular Regional Center project.

3. Complete Your I-526 Petition

After depositing the funds in escrow, the EB5 immigrant will be provided with the necessary documentation for completion of the I-526 form. This document demonstrates that the investor has invested the required amount of capital in a suitable project and that the funds were acquired lawfully. At this point, those obtaining EB-5 investor visas usually work closely with an EB-5 consultant or immigration lawyer to prepare the form properly and submit it for review. Final submission of the I-526 is to the United States Citizenship and Immigration Services (USCIS).

4. Apply for Your Conditional Green Card

After the EB-5 investor receives approval for his or her I-526, it’s time to apply for lawful residence with a conditional green card. This conditional green card will be valid for two years.

5. Apply for Permanent Residence After Two Years

Assuming all requirements have been met, including job creation requirements, the holder of the conditional EB-5 green card may apply to have those conditions removed so that he or she can obtain permanent residence. This is done after having the conditional green card for two years.

6. Apply for Citizenship Within Four Years, Nine Months of US Entry

Holders of EB-5 visas may apply for United States Citizenship within four years and nine months of moving to the US if they so choose.

Moving to the US under the EB-5 program is a detailed and lengthy process, yet it benefits both immigrant investors and the US economy by stimulating economic growth and providing needed jobs, particularly in economically disadvantaged areas.

Click here to contact an Exclusive Visas EB-5 consultant now



Experts Recommend Regulating Chinese Entry and Exit Agents

July 31, 2013 @ 1:11 pm
Posted by Exclusive Visas

Those in China wishing to utilize the EB-5 Foreign Investor Visa (on any other U.S. visa for that matter) usually begin by contacting a private immigration agent in China.  While these agents (also known as entry-and-exit-agents) are neither attorneys nor experts in the U.S. immigration system, they have become integral in the process of Chinese immigration to the U.S. through the EB-5 visa.

But when asked exactly what services they perform in the immigration process many private immigration agents can’t (or won’t) give a clear answer, according to Liu Guofu, an immigration law professor at the Beijing Institute of Technology, in a recent report.

The apparent lack of understanding by private Chinese immigration agents, especially when it comes to the EB-5 Immigrant Investor program, has already caused serious harm to many Chinese EB-5 petitioners.

According to EB-5 industry insiders, many Chinese agents have strongly recommend bad projects (e.g. the fraud laden Chicago Metro Regional Center and North Dakota Wind Farm projects) not as a result of any real due diligence and research; not based on their likelihood of fulfilling the EB-5 requirements for a permanent green card; not based on a potentially successful return on investment but rather the promise of high commissions for the agents themselves.

As a result hundreds of investors have been denied an EB-5 green card (and potentially lost their investment) and have been relegated to the back of the line if they even choose to go back into the EB-5 program.

According to Professor Liu’s report, clear parameters and policies need to be developed so that the agencies can fall under the supervision of the government.

The new regulations recommended are intended to simplify the immigration process for both foreigners and Chinese. The regulations allow for Private Immigration Agents to be hired to help with documentation involving visas or residential permits, according to Chinese immigration experts.

But, Professor Liu says the expert recommendations don’t go far enough and says even more specific rules are needed to define what activities are legal for these agencies. He suggests that China’s public security and foreign affairs ministries, as well as related government departments, work out a regulation on the management of entry-and-exit agents.

Since they are not regulated there are many underground agents participating in the process according to Professor Liu.  He suggests the best way to manage them is to bring them under government supervision.

“By giving these agents a legitimate status, it can improve the efficiency of public security authorities and foreign affairs authorities,” Professor Liu said.

There is support for the recommendations. “These agencies only process documents. They have no other rights or duties and are often unclear about what actions they can take on behalf of their clients,” said Qi Lixin, chairman of the Beijing Entry and Exit Service Association. “The lack of specific rights and duties for these agencies has resulted in a massive legal gray area,” he said.

According to Joe Sloboda, Vice President and co-founder of Exclusive visas, a Florida-based EB-5 consulting firm, the call for regulating Immigration brokers just illustrates how much lies in the balance for those in China wanting to come to the U.S. via EB-5. “It also reinforces how important it is to work with competent and trustworthy experts when pursuing an EB-5 visa. Following bad advice can be devastating to both the EB-5 petition and investment,” said Mr. Sloboda.

Exclusive Visas brings together all the elements of the EB-5 program, manages timelines, and gives the client the broadest likelihood of success. From petitioning the USCIS to assisting the client in choosing a credible project to invest in, Exclusive Visas sees to it that the investor has all the information necessary to give them peace-of-mind while making the best of the EB-5 opportunity.

“Simply put, the importance of accurate advice from knowledgeable experts cannot be overstated in providing EB-5 investors with the best environment for making informed choices,” Mr. Sloboda added.

Contact Exclusive Visas Today for more Information on the EB-5 Program



SEC Eliminates Ban on EB-5 Regional Center Advertising and Solicitations

July 16, 2013 @ 9:30 am
Posted by Exclusive Visas

June 10, 2013 – The ban on general solicitation and general advertising for certain types of private securities offerings – namely EB-5 Regional Centers (RC) – was lifted by the Securities and Exchange Commission (SEC) last week. The new rule was adopted as part of the Jumpstart Our Business Startups (JOBS) act.

Currently Regional Center projects attempting to raise capital through the sale of investment positions must register their offering (considered a security) with the SEC which once registered triggers prohibitions against general solicitation and/or general advertising (as it does with all securities offerings).

To lift the ban on general solicitation under the new rule RCs are required to:

  • provide advance notice of sale 15 days prior to and at the conclusion of an offering,
  • provide additional information about the issuer and offering, including investor details,
  • state the use of investment proceeds and methods for verifying accredited investor status,
  • and include legends and disclosures in written solicitation materials.

Full adoption of the rule is subject to a 60-day public comment period.

The new rule is expected to positively impact EB-5 investment practices by granting RCs more freedom to generally solicit and advertise under certain terms and conditions, as long as all purchasers in the offering are accredited investors.  The ruling allows Regional Centers to advertise projects via website advertisements, newspapers, radio, internet posts, and email.

“This is good news,” said Fred Burgess, President and co-founder of Exclusive Visas, a South-Florida EB-5 consultancy.  “The current rules have been extremely confining for both RC projects and EB-5 investors because the rules banned the distribution of information via advertisement and solicitation. The new rule promotes the distribution of RC information (under certain conditions) via advertising,” said Mr. Burgess.

While the new rule should enhance the program’s quality and accessibility for EB-5 investors, they also remind us how important it is to have professional, trustworthy advice when navigating the process.  EB-5 is not a world anyone should attempt to navigate without an experienced expert at their side,” Mr. Burgess said.

An Exclusive Visas Expert EB-5 Consultant will cut through the confusion for the investor by explaining how the program works and what can be expected from the new ruling. Exclusive Visas brings together all the elements of the program, manages timelines, and gives the client the broadest likelihood of success.

From petitioning the USCIS to choosing a credible project to invest in, Exclusive Visas will see to it that the investor has all the information necessary to give them piece-of-mind while making the best of the EB-5 opportunity.

Don’t wait another day. Click here to contact an Exclusive Visas EB-5 consultant now.



Six New Regional Centers Approved

July 15, 2013 @ 4:11 pm
Posted by Exclusive Visas

Regional Center Approvals Already Triple Last Year’s Total Growth

 

USCIS 1USCIS approved another nine new regional centers in June bringing the total regional center approvals for 2013 to 58 (for a total of 309 RCs). “EB-5 funding continues to grow in popularity as a result of the program’s growing credibility. That’s good for EB-5 petitioners who are given more and better choices as a result. But all those choices also underscore the importance of reliable and trustworthy guidance throughout the complexities of the EB-5 process,” said Fred Burgess, President of Exclusive Visas, a South-Florida based EB-5 consultancy.  

The new centers are located in California, Louisiana, and Texas. Please contact Exclusive Visas for more information on these or any other EB-5 Regional Centers.

  • California
    • American Greenland Regional Center
    • American Vantage Regional Center
    • Golden Bear Regional Center
    • Lake Elsinore Regional Center
  • Louisiana
  • Texas
    • Ameri-Link Capital Regional Center

The complete list of Regional Centers is available at the USCIS site.

Contact Exclusive Visas for EB-5 Regional Center Information Today

An Exclusive Visas expert EB-5 consultant will supply the investor with trustworthy information on the EB-5 program and its Regional Centers. Exclusive Visas handles all issues associated with the program and brings together all its elements giving the client the broadest likelihood of success.

From petitioning the USCIS to choosing a credible project to invest in, Exclusive Visas will see to it that the investor has all the information necessary to give them piece-of-mind while making the best of the EB-5 opportunity.

Click here to contact an Exclusive Visas EB-5 consultant now

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

EB-5 consultants from Exclusive Visas assist foreign investors looking for EB-5 visa options to obtain U.S. residency. Each EB-5 consultant is experienced in EB-5 investor visa procedures.

2149 N Commerce Parkway Weston, FL
Phone: (954) 727-9800