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








Practice Alert: NVC Processing of Chinese EB-5 Immigrant Visa Applications

February 4, 2015 @ 2:25 pm
Posted by Exclusive Visas

AILA was advised by the National Visa Center (NVC) that appointment notices for Chinese EB-5 applications may indicate that applicants must bring original documents, even if NVC already had original documents. NVC emphasized that those applicants who require original documents from the NVC file are not penalized and that applicants should attend the interviews regardless of whether they have all of their original documents. In cases where originals are unavailable at the interview, the file will be shipped to Guangzhou after the interview, instead of before it. Questions or concerns about a particular application can be addressed directly to the U.S. consulate in Guangzhou at GuangzhouIVform@state.gov.



Klasko Immigration Law Partners, LLP Launches EB-5 Compliance Sector

January 30, 2015 @ 1:47 pm
Posted by Exclusive Visas

Firm Expands Its Internationally Recognized EB-5 Immigration Practice to Include an EB-5 Compliance Sector

Klasko partner Daniel B. Lundy has been tapped to head the compliance sector at the firm.

 

As posted by PRWEB, Philadelphia, PA (PRWEB) January 30, 2015

Klasko Immigration Law Partners, LLP, named one of America’s top Immigration Law Firms by U.S. News and World Report, has launched a compliance practice to complement its world-renowned EB-5 visa practice headed by firm chairman H. Ronald Klasko. Mr. Klasko was recently recognized again by EB-5 Investor Magazine as one of the top 25 attorneys in the U.S. for EB-5 matters.

Klasko partner Daniel B. Lundy has been tapped to head the compliance sector at the firm. Like Mr. Klasko, Mr. Lundy is a seasoned EB-5 attorney and is also recognized as one of America’s top 25 EB-5 attorneys by EB-5 Investor Magazine.dan lundy

The U.S. Immigrant Investor Program, or “EB-5” as it is commonly known, is a visa program for investors and entrepreneurs who make investments of $500,000 or more into projects and enterprises in America that create jobs for qualifying workers. Government-designated regional centers pool investor funds for deployment into such ventures, which are typically large-scale, multi-year, multi-million dollar real estate development or infrastructure projects. In turn, each immigrant investor must demonstrate that his/her investment has created at least 10 full-time permanent jobs in the U.S. in order to qualify for a green card through the EB-5 Program.

Verifying job-creation for each investor requires a team of dedicated legal, business, economics and accounting professionals who understand the complexities of EB-5, and are prepared to chart the course for clients from project proposal, through job-creation, to documentation and eventual permanent residence for the immigrant investors. Klasko has added a compliance team to its already extensive EB-5 practice sector to do just that.

On February 10, 2015, Klasko Immigration Law Partners, LLP will host a complimentary one-day seminar for real estate attorneys, developers and regional centers at The Hub Cira Center in Philadelphia: “Marketing and Compliance: A Guide for Regional Centers and Developers”. The program begins at 8:00 am with registration and continental breakfast, and finishes at 4:00 pm with a networking cocktail reception immediately following. Attendance is limited and RSVPs are encouraged by Friday, February 6, 2015.

For more information on the seminar, or on the firm’s EB-5 compliance practice, please go tohttp://www.eb5immigration.com or http://www.klaskolaw.com or contact Mr. Lundy directly at: dlundy(at)klaskolaw(dot)com.



Brazil and EB-5 by the numbers

December 19, 2014 @ 10:22 am
Posted by Exclusive Visas

By Renata Castro, Project Manager at Exclusive Visas        

In recent years I have been repeatedly asked about official numbers for EB-5 pertaining to Brazilian Investors’ I-526 filings. It shouldn’t come as a surprise – as the number of EB-5 offerings increased radically, and the cost (and availability) of raising EB-5 in China became more and more pervasive, EB-5 Regional Centers, Projects, Franchises, and Immigration attorneys alike began  pursuing a new frontier for their EB-5 related marketing efforts.

Brazil, for several reasons, has been a strong contender to other more established EB-5 markets, for a few reasons:

  • Brazilians (unless those with dual citizenship) do not qualify for E-2 visas;
  • Brazilians have also been eliminated from the green card lottery recently;
  • Growing political turmoil in Brazil, paired with a long history of mismanagement of public funds and corruption;
  • Violence; among other things.

EB-5, when Exclusive Visas first visited Brazil around three years ago, was relatively new to Brazilians. I recall spending countless hours translating conversations between prospective EB-5 investors and immigration attorneys that were mostly related to the basics of EB-5. Now EB-5 investors are much more sophisticated, asking questions that are more elaborate, resulting from a year-long (usually) exploration of EB-5 as a viable immigration option (not necessarily a review of projects).

The numbers, as shown below, can be interpreted as a strong indicator of a few trends, which I will discuss below:

Receipts, Approvals, and Denials for Brazil – Fiscal Year 2005 to 2014[1]

FY

Receipts

Approvals

Denials

2005

2

0

2

2006

1

1

0

2007

2

1

1

2008

7

0

0

2009

8

11

1

2010

10

5

1

2011

11

6

2

2012

18

13

1

2013

19

9

0

2014

47

17

3

Grand Total

125

63

11

Report Date and Data Queried: November 18, 2104 Data type: Receipts, Approvals, and Denials by Fiscal Year with a country of birth of Brazil, Form Type I-526.

 It’s important to analyze this data not in light of numbers from China, which is a mature and organized EB-5 market. Brazilians have the ability to hit double digits in EB-5 petitions very soon, and here’s why I am placing on my bets on this blooming EB-5 market:

  • In spite of the exchange rates terrible turn for the worse from 2012 to 2014, EB-5 petitions have doubled. In 2012, US$ 1 = R$ 1, 79. In 2014, US$ 1 = R$ 2,80. It costs almost double for Brazilians to do EB-5 today than it did in 2012, and yet numbers continue to rise.
  • Although there are a considerable number of denials, they are likely from direct EB-5 petitions. EB-5 investors from Brazil tend to explore direct EB-5 more aggressively than their Chinese counterparts, however, a growing number of more educated EB-5 investors has come to realize that Regional Center –affiliated projects tend to offer a higher likelihood of approval.
  • Inquiries from Brazil have continue to grow, as reported by Regional Centers and Franchises across the USA
  • EB-5 capital out of Brazil tends to come at a lower cost for projects as there aren’t any intermediaries.
  • Brazilian investors tend to visit projects in the USA prior to making an investment decision. This causes considerable delays in the process, for practical reasons. 

For periodic updates on Brazil’s EB-5 interests, and other up and coming EB-5 markets, subscribe to Exclusive Visas’ newsletter.



New USCIS Data Shows Remarkable Growth for EB-5 Program

December 17, 2014 @ 9:52 am
Posted by Exclusive Visas

IIUSA analysis points to staggering increase in qualified funds raised and projected job creation.

 

As posted in (PRWEB) December 17, 2014

iiusa_logoThe Association to Invest in the USA (IIUSA), the national not-for-profit industry trade association for the EB-5 Regional Center Program (the “Program”), recently released its analysis of U.S. Citizenship and Immigration Services (USCIS) data demonstrating significant growth of the EB-5 program in FY2014.

Under EB-5, a program created by Congress with broad bipartisan support, foreign nationals who invest between $500,000 and $1,000,000 dollars in approved U.S. businesses are eligible for permanent residency if the U.S. government confirms that their investment created at least 10 American jobs within two years of the investment.

According to IIUSA analysis, the number of investors seeking to participate in the Program in FY2014 increased by 72 percent compared to FY2013, and the number of investors requesting approval for permanent residency based on demonstrated job creation has more than doubled.

Specific data points of interest include: 

    • In FY2014, USCIS received 10,928 I-526 petitions to determine eligibility for the EB-5 Program, compared to 6,346 I-526s received in FY2013.
    • USCIS approved 5,115 I-526 petitions in FY2014 – representing approximately $2.6 billion in capital designated for investment in U.S. job-creating projects
    • In FY2014, USCIS received 2,516 I-829 petitions to remove visa conditions based on demonstrated job creation compared to 1,217 I-829s received in FY2013
    • USCIS approved 1,603 I-829 petitions which represents at least 16,030 American jobs created by EB-5 capital

“The numbers released by USCIS point to astounding growth of investors participating in the EB-5 Program as well as investors demonstrating jobs created by EB-5-funded projects,” said IIUSA Executive Director Peter Joseph. “The increase of approved investors in the past year, compared to those from 2008 when our country was entering its devastating economic downturn, is nearly 800 percent; and the number of completed projects in FY2014 has similarly skyrocketed. Public and private developers alike have found EB-5 to be immensely valuable in bringing jobs and industry to the U.S., and these are the numbers to prove it.”

IIUSA’s analysis also notes that 1,266 I-526 and 178 1-829 petitions were denied, demonstrating the rigorous scrutiny and oversight exercised by USCIS as well as the risk required by law for those participating in the EB-5 program.

“USCIS has taken important steps in the last year to improve its ability to evaluate petitions and projects and strengthen the integrity of the program,” said Joseph. “IIUSA will continue to advocate for integrity measures as well as Congressional reauthorization of the program that continues to bring much-needed capital and job creation to communities across the country.”



USCIS Invitation: EB-5 Immigrant Investor Program Regulatory Changes

April 16, 2014 @ 12:21 pm
Posted by Exclusive Visas

U.S. Citizenship and Immigration Services (USCIS) invites you to participate in a stakeholder teleconference on Wednesday, April 23, 2014, from 2:30 p.m. to 4 p.m. (Eastern) to discuss future regulatory changes for the EB-5 Immigrant Investor Program.USCIS-Selects-Philadelphia-Organizations-to-Promote-Citizenship

USCIS is beginning work on revised EB-5 regulations. Regulatory revision has been identified as an important step for the future of the EB-5 Program and is an agency priority. We invite EB-5 stakeholders to provide feedback on EB-5 regulations as we work toward making regulatory improvements to strengthen the efficiency, predictability, and integrity of the EB-5 program.

During this engagement, USCIS officials will listen to your feedback and input on changes to the EB-5 regulations. Feedback and input can be related to:

  • Methods to combat fraud and abuse
  •  How to improve upon current regulations
  •  Substantive eligibility requirements
  •  Procedural filing requirements

For those unable to attend, we will hold a follow-up discussion in the USCIS Idea Community. We encourage you to become a part of the discussion starting on April 24, 2014.

To register for this session, please follow the steps below:

  • Visit our registration page to confirm your participation
  •  Enter your email address and select “Submit”
  •  Select “Subscriber Preferences”
  •  Select the “Event Registration” tab
  •  Be sure to provide your full name and organization
  •  Complete the questions and select “Submit”

 Once your registration is processed, you will receive a confirmation email with additional details.

If you have any questions regarding the registration process, or if you have not received a confirmation email within two business days, please email us at Public.Engagement@uscis.dhs.gov.

 We look forward to engaging with you!  

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