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Posts Tagged ‘EB-5 Regional Center Pilot Program’
According to the USCIS, unlike I-526 denial due to Investor issues (ill-gotten funds, OFAC listed, illegal occupation, criminal conviction, etc.) where it is typically doubtful a second application will be successful, the EB-5 Investor may reapply for another project if the EB-5 applicant’s I-526 petition is denied for “Project” reasons (insufficient job creation, etc).
While most applications are returned by USCIS (unapproved) to petitioners with Requests for Evidence (RFE) an RFE is not a denial in the eyes of USCIS. It is simply a next step in the process of developing the petition. Each evidentiary issue in question is to be addressed by the applicant and then submitted back to USCIS for eventual approval.
Unlike a true Denial, most I-526 RFEs can be overcome. However, RFE issues that involve the regional center program or project may not be so easy to resolve. If they cannot be resolved the case could be denied altogether. In many cases it may be better to withdraw an I-526 petition endangered because of program or project issues and refile, rather than appeal or fight USCIS.
Last year the approval percentage for I-526 petitions was only 79 percent. No matter how carefully a specific EB-5 project is carried out many factors, both within and beyond the control of a specific EB-5 project can adversely affect the EB-5 project and its investors.
According to the USCIS, its Administrative Appeals Office (AAO) has jurisdiction over the appeals from decisions on most immigration petitions and applications that are entered by USCIS regional service centers and district offices.
There are numerous types of petitions and applications within the AAO’s jurisdiction, including employment-based immigration petitions, various waivers, legalization, and temporary protected status applications. The AAO produces appellate decisions that provide fair and legally supportable resolutions of individual applications and petitions for immigration benefits. These decisions provide guidance to applicants, petitioners, practitioners and government officials in the correct interpretation of immigration law, regulations and policy.
Once a case is denied, it is very hard to overcome the reasons for the denial and get it approved. This can delay the immigration process for up to a year. Furthermore, it is commonly held by industry insiders that AAO will never reach a different conclusion than the one originally reached by USCIS. In fact: AAO has never overturned USCIS’ final decision. Therefore, appealing the case to AAO is seen as futile and therefore not recommended.
Luckily, I-526 denials are not fatal. “Applicants always have the option of withdrawing a currently filed I-526 petition in order to correct problems. “Applicants should take action promptly to address reasons for the denial in order to preserve their rights. The file however, must be resubmitted and the process restarted costing the applicant valuable time, money, and energy,” according to Joe Sloboda, Vice President of Exclusive Visas, a Weston, Florida-based EB-5 consultancy.
The EB-5 process can be arduous and confusing. 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. It is not a world anyone should attempt to navigate without an experienced expert at their side.
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. 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 peace-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.
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
Immigration Attorney Anthony Korda Takes Final Step in his own EB-5 Process, Receives U.S. Citizenship
April 22, 2013 – For former British Barrister, Anthony Korda moving from England to the U.S. with his family via the EB-5 visa has been a five year journey. Mr. Korda’s EB-5 experience began as one of the first investors of the Jay Peak Ski Resort project in Vermont.
That journey concluded last Friday when Mr. Korda was sworn in, taking the oath of a U.S. Citizen. “Exclusive Visas salutes Antony Korda and congratulates him as a true EB-5 success story,” said Fred Burgess, President and co-founder of Exclusive Visas, a Weston, Florida-based EB-5 consultancy.
For Mr. Korda the EB-5 program was the answer to his vision of residing permanently in the U.S. – the same vision shared by all EB-5 petitioners. He invested $500,000 in the Vermont Ski Resort which used his investment to capitalize new infrastructure and as a result created the required 10 jobs.
Mr. Korda now permanently resides in Florida with his family where he practices immigration law and helps clients from all over the world find the best, safest American EB-5 projects to invest in. As an expert EB-5 consultant and an affiliated partner of Exclusive Visas, he has helped literally hundreds of immigrants over the past years receive their own EB-5 visas. And as an EB-5 petitioner himself Mr. Korda brings his unique perspective when addressing clients’ challenges associated with emigrating to the U.S. via the EB-5 visa.
“The EB-5 program has given us a new life and, yes, it’s given me a new business to go into,” Mr. Korda said. “And it’s an interesting one, too.”
The EB-5 visa is attractive for high net worth immigrants (willing to invest in a U.S. business) because it does not require having a close relative or a U.S. company willing to sponsor the immigrant, as required by conventional immigrant visas.
While the key features of EB-5 are easily stated the process can be arduous and confusing. 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. It is not a world anyone should attempt to navigate without an experienced expert at their side.
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. 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 peace-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.