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Posts Tagged ‘EB-5 Visa 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.
U.S. Economic Demand Drives H1-B Visa to its Annual Limit in Less Than Two Weeks. Is EB-5 Next?
The tax deadline is not the only major event taking place within the U.S. on April 15, 2013. USCIS announced this week that it anticipates that the annual quota or “cap” of H-1B Visa Petitions to be exhausted by April 15th as well – less than 2 weeks after the April 1 open filing date.
The fact that the H-1B quota was reached as soon as USCIS started to accept applications demonstrates the continued interest that foreign professionals have in working in the US, said Anthony Korda a Naples, Florida immigration attorney with Korda, Zitt and Associates.
A similar cap on EB-5 was proposed (amongst Chinese investors) but seems to have been skirted with EB-5 visas expected to hit just below their limit of 10,000 per year.
While the EB-5 program is reserved for foreign investor immigrants who invest at least $500,000 in a U.S. business that produces 10 jobs, the H-1B program allows U.S. businesses to employ foreign workers in specialty occupations which typically include scientists, engineers, and computer programmers.
For the first time since the financial crisis, U.S. employers are expected to reach a limit on the yearly allotment of applications for coveted skilled-worker visas – a sign of the strengthening economy. “This is an economic bellwether. We are seeing dramatic surges in placing immigrant investors and hiring professionals,” according to Joe Sloboda, Vice President and co-founder of Exclusive Visas, a Weston, Florida-based EB-5 consultancy,
U.S. companies sponsor up to 65,000 foreigners each year for the H-1B visa with another 20,000 visas reserved for foreign nationals who received advanced degrees from U.S. universities.
H1-B visas have not maxed out since 2008 in the wake of the weak economy according to a USCIS website report. However, demand for the program has increased in the past two years as companies accelerated hiring overall.
Many industry insiders expect the relatively young EB-5 program (1990) – which in its short history is yet to max out its annual quota– to reach its maximum in the next year or two. The EB-5 program has doubled each year for the last two years. “If that kind of growth continues we will be way past its quota in the short term,” said Mr. Sloboda.
The rising demand comes as the Senate moves closer to broad immigration reform that would overhaul a series of (work and investment based) visa programs which could increase the number of H-1B visas granted each year and make the EB-5 Pilot Program permanent.
In light of the limitation of H-1B visas many expect demand to increase for EB-5 visas as an alternative to the employment based visa. “For many, the EB5 Investor Visa Program represents the best option and may be the only alternative to enable them to live and work in the U.S.,” Mr. Korda said.
For more information please contact Exclusive Visas. 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 associted 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 peace-of-mind while making the best of the EB-5 opportunity.
Click here to contact an Exclusive Visas EB-5 consultant now