 |
 |
 |
Posts Tagged ‘EB-5 program’
Some EB-5 applicants cannot resist preparing their own EB-5 petitions. They research the program on the web, download the required documents from the USCIS site, prepare the application, collect the documentation, and finally submit their work to USCIS.
According to the United States Citizens & Immigration Services (USCIS) of the 4,176 applications for conditional permanent residency made in 2012, 775 were denied.
And even though USCIS does not provide reasons for application denials, according to industry insiders many denied I-526 petitions have something in common: They were prepared by the petitioner.
The EB-5 visa is widely known as one of the most complicated, and expensive U.S. visas to obtain. It’s hard to understand why an applicant would chose to prepare their own EB-5 application. They are about to make an investment of $500,000 or more, move to another country (with their family) and start a new life.
“If there was ever a time for experienced, professional help in preparing a visa application to a successful outcome, it’s when there’s $500,000 on the table and permanent U.S. residency is at stake,” Said Joe Sloboda, Vice President of Exclusive Visas, a Weston, Florida-based EB-5 consultancy.
“It is not prudent to make such a large investment of time and money, without the advice of a competent experienced professional,” according to Mr. Sloboda. Professional fees are a small price to pay to protect the petitioner’s investment and future, he said.
Because the EB-5 visa is one of the most difficult visas to file, in all likelihood an I-526 application will probably be denied if the applicant has prepared the documents and business plan, themselves. Once a case is denied, it is harder to overcome the denied reasons and get it approved. This can delay the entire immigration process.
Hiring an EB-5 consultant in the first place can actually save both time and money. “Fixing a petition typically ends up costing applicants more than if they hired professionals in the first place due to the added burden of reviewing and fixing the petition,” Mr. Sloboda added. And there are no guarantees. The original application may be so problematic that it cannot be solved thereby ruining the applicants chances of a successful petition in the future.
The EB-5 process is not a world anyone should attempt to navigate without an experienced expert at their side. The entire process is a vast combination of timelines, deadlines, tax returns, supporting documentation, and due diligence involving, immigration attorneys, the USCIS and the SEC.
An Exclusive Visas Expert EB-5 Consultant will cut through the confusion for the investor by explaining how the program works generally and specifically for the candidate and what can be expected from the newly proposed reforms. 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.
The EB-5 visa program offers permanent U.S. residency to participants granting nearly all the benefits of U.S. citizenship including access to education and the ability to live anywhere in the U.S. While the program itself is sound the investment world can be unpredictable and often uncharted.
The EB-5 Regional Center visa requires the petitioner to make investments into a U.S.-based commercial enterprise that will create American jobs as a result of the investment. Under the program’s terms an investor can receive a permanent visa for themselves and each member of their family (under 21 years of age) often in as little as four (4) months. The EB-5 visa is the fastest and least complicated way to obtain an American Green Card.
One of the most attractive advantages of investing in an EB-5 Regional Center is that it is a practically hands-off investment. While the program is monitored by both USCIS and SEC to maintain program integrity for investors that protection can only be extended up until the investment is made. Because EB-5 regional center investments are “at risk”, there are no guaranteed returns. It is important to note that just because a regional center is approved by the USCIS (and appears on its website) does not automatically signify it is a good project to invest it.
The key to minimizing risk and making the program as safe as possible for the applicant lies in the applicant’s due diligence and advisement. Investors must do their own due diligence when looking for a regional center that will lead them to becoming a United States permanent resident, create jobs, and produce a return on investment.
According to Joe Sloboda, Vice President and co-founder of Exclusive Visas, “intense due diligence combined with trustworthy expert advice are requisite in creating the safest environment possible and the likelihood of success.”
It is important to distinguish between more speculative and risky EB-5 visa programs and those that are more proven and well thought out. Most issues can be addressed by having a credible EB-5 consultant advising the investor.
Advice from experienced experts who have fully researched proposed regional center programs is imperative if the applicant is to have the best chance of meeting their goal. In addition to researching regional center projects, Exclusive Visas brings together all the elements of the program, manages timelines, and gives the client the broadest likelihood of success.
An Exclusive Visas Expert EB-5 Consultant will cut through the confusion by providing trustworthy information on how the program works generally and specifically. From petitioning the USCIS to assisting the client in choosing a credible project to invest in, Exclusive Visas will see 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.
Contact Exclusive Visas Today for more Information on the EB-5 Program
The popularity of the EB-5 program has increased dramatically since 2007. Then, there were only 11 Regional Centers, but over 220 exist today. Applications for EB-5 visas have increased by 350% since 2007. Because 10,000 EB-5 visas are allocated annually, the EB-5 Program still represents an important opportunity for US real estate and business interests. At Exclusive Visas, our focus is on assisting immigrant investors under EB-5 with the immigration process.
I-526 Application Processing
Because of the increased number of EB-5 applicants, adjudication of I-526 forms is taking longer. What once took six months now takes 10 or 12 months. One reason for this is a delay in establishing new Regional Centers. This sometimes results in delayed adjudication of I-526 petitions due to new Regional Center projects not having been reviewed by United States Citizenship and Immigration Services (USCIS).
Early Investors and Later Investors
In the experience of immigration attorneys, the USCIS takes the most time to process I-526 forms from the first EB-5 investors in a Regional Center project. After several investors have been approved for a project and the USCIS is more familiar with an investment project, remaining I-526 petitions for those projects tend to be processed faster. Choosing an established Regional Center project may help speed processing times for EB-5 applicants.
EB-5 Processing Unit Moving from California to Washington, DC
EB-5 administration is moving from California to Washington in mid-2013. This is part of a responsibility realignment under USCIS Director Alejandro Mayorkas. Once the DC office is operational, it will handle I-924, I-526, and I-829 processing. The new office should be evaluating cases by June 2013, but until that time, petitioners and applicants will work through the service center in California.
EB-5 Consultants Keep Applicants On Track Amid Changes
With the increased popularity of the EB-5 program, the increase in the number of Regional Centers, and the transition of processing to Washington, new EB-5 applicants may feel overwhelmed and confused. Most work with immigration lawyers or EB-5 consultants to help them through the process. At Exclusive Visas, our team of EB-5 experts and immigration attorneys has the experience and knowledge necessary to help applicants successfully navigate the EB-5 process.
USCIS began collecting a $165 processing fee from foreign nationals seeking permanent residence in the United States on Feb. 1, 2013. The fee is required of all EB-5 applicants. The new fee is in addition to other fees charged by Department of State associated with immigrant visa applications.
“Any individual who on or after February 1, 2013 receives an immigrant visa package from a United States consulate or embassy abroad (including Canada and Mexico) must pay the USCIS Immigrant Fee,” according to the USCIS web site. Additionally, petitioners will not receive their permanent green until the fee is paid.
The fee covers administrative costs and the cost of producing and delivering the permanent resident visa. USCIS processes approximately 36,000 immigrant visa petitions per month.
Visa applicants may pay the fee online (through USCIS’ website) between receiving their visa package from DOS and departing for the United States. Specific information on how to submit payment is to be provided to applicants at the consular interview.
For more information please visit USCIS Immigrant Fee webpage or USCIS.gov.