December 9th, 2011 |
 At a recent Senate Judiciary Committee Senators from both Democrat and Republican sides of the House got together to discuss Bill S-642, a proposal to make the EB-5 Regional Center program permanent. During the one-hour plus discussions (see video of the proceedings here) testimony was heard from, among others, the most ardent supporter of the EB-5 program, Senator Patrick Leahy. Regular readers of this blog will recall that I had the pleasure of meeting with Senator Leahy at a breakfast in Washington in 2009. Senator Leahy presented the most compelling reasons as to why this program should be made permanent.
The overall tone of the hearing, in my opinion, was positive. In general, any less-than-positive remarks were confined to tightening-up the rules of the program to make sure, among other things, that the jobs created by the program are going to American Citizens and permanent residents as opposed to those that might not have work authorization in the USA.
Among other supporters of S-642 is Senator Chuck Schumer who, despite not attending the hearing, did issue a statement containing the following quote:
….That’s why I am proud to be sponsoring S-642 with Senator Leahy to permanently authorize the EB-5 program. We need to permanently authorize the EB-5 program as soon as possible, and we should not tie the reauthorization of the EB-5 program to any other program. If all of us agree that this is a good program, let’s all cosponsor and pass S-642.
We, at Which EB5, applaud the message that the Senators are sending.
My opinion from watching the proceedings is that we will secure a permanent reauthorization of the EB-5 Regional Center program. However, if I were to take a view that some changes might be made to the program I would have to say that it might, just might, be that the amount required to participate may increase above the current $500,000 level. Just my humble opinion.
If you would like to discuss any aspect of the EB-5 Visa Program please contact Which EB5 via email or telephone +1-561-771-1330
+Stephen Parnell
|
| |
Tags: eb-5, EB-5 program, EB-5 Visa, regional center, S-642, Sen. Patrick S. Leahy, Senate, Senator Chuck Schumer, USA, washington, Which EB-5
Posted in Immigration | No Comments » |
November 30th, 2011 |
 We very rarely include press releases on the WhichEB5 site as experience has shown there is a significant risk in doing so of only telling half a story.
Not a day seems to go by without receiving a press release from a regional center with an announcement about the benefits of its latest program. Quite often these press releases will be later used by various attorneys and consultants on their web sites.
Our belief is that these pieces are there to promote a particular project and to recruit applicants to their program. All too often, and not surprisingly, they fail to show any potential weakness of the project.
Inevitably all EB-5 programs are a mixture of stronger and weaker points that need to be most appropriately matched to your own specific requirements. Trying to match these requirements to a one-sided viewpoint of a press release can lead to missing out on important information which could affect your decision.
It is critical that you receive information providing both the positive and negative aspects of regional center programs.
For the latest information on this subject or for further independent information on the EB-5 visa please contact us at info@WhichEB5.com or call us at +1-561-771-1330
|
| |
Tags: eb-5, independent information, press release, regional center, Which EB-5
Posted in Immigration | No Comments » |
November 29th, 2011 |
 This is a question we often hear from potential EB-5 applicants both inside and outside China.
With the majority of EB-5 applications coming from China, it may not at first sight be particularly surprising that a number of EB-5 regional center programs are filled almost exclusively by Chinese applicants.
In itself this does not mean there is any particular problem, however, the failure of a few EB-5 programs which has caused problems for their mainly Chinese investors is an indication of the need for caution.
There are a number of EB-5 regional center programs which have been almost exclusively marketed in China through local Chinese agents. There have been several reports that the presentation and sales material for some of these programs makes misleading claims.
The problem is if these claims hide a shortcoming in a particular program (for example insufficient jobs may be created) the applicants may not obtain or maintain their visa, they could also lose some or all of their capital.
The sheer number of Chinese investors who are reliant on Chinese agents to suggest the most appropriate program is a concern. Some agents focus primarily on the size of their commission payment and not the best needs of their client when giving advice.
The strict censorship regulations in China can make it potentially difficult for Chinese EB-5 applicants to receive all the independent and impartial advice available on the EB-5, therefore they do not always have all the information to hand before making a decision.
For the latest information on this subject or for further independent information on the EB-5 visa and/or details of our Chinese associates please contact us at info@WhichEB5.com or call us at +1-561-771-1330
|
| |
Tags: china, eb-5, regional center
Posted in Immigration | No Comments » |
November 28th, 2011 |
 As we approach the end of the year it is normal for people all across the world to be busy with typical holiday time preparations and as such we normally see a marked downturn in new client contact. However, this year, in contrast to previous years, we are seeing continued strong demand for advice and guidance on all aspects of a potential move to the USA using the EB-5 Visa program.
A variety of factors are apparently at play here:
- Continued trouble, both financial and political, around the world
- A recent rally by the US Dollar that may continue, at least for a while, in light of the Euro debacle – This is seen by many as a sign that a move to the USA should be considered now and not later when the cost of exchanging local currency into $500,000 could potentially increase
- Recent figures from the United States Citizenship and Immigration Service (USCIS) that the number of applications for the EB-5 Visa continues to climb, with the thought, that at some point in the near future, we might reach the annual maximum of 10,000 Visas
- Continued focus on the EB-5 program by Alejandro Mayorkas – Director, U.S. Citizenship and Immigration Service. Director Mayorkas is devoting considerable effort into streamlining the EB-5 program and he continues to make progress in that direction leading to increased awareness of the benefits this program offers potential immigrants
These are just some of the reasons we continue to see a very bright future for the EB-5 program. However, recently you may have noticed, in our blog postings that we continue to warn of the dangers of NOT obtaining experienced advice when considering the EB5 as your path to a new life in the USA. I would like to reinforce that warning again today. We continue to see new so-called experts enter the arena offering advice on the EB-5 program. All I can say is please ask anyone you may be considering as an EB5 consultant or advisor:
- How many clients they consult with each month
- How many successful I-526 petitions do they have
- Do they have any successful I-829 petitions
- How many Regional Centers have they successfully guided clients through
- How long have they been advising on the EB-5 program
- Which experts do they use to provide legal, investment, accounting and currency exchange advice to their clients
If you cannot get satisfactory answers to those questions please call +1-561-771-1330 or email info@WhichEB5.com for advice – We look forward to adding you to our long list of clients
|
| |
Tags: advice, advisor, Alejandro Mayorkas, consultant, eb-5, EB-5 Visa, eb5, I-526, I-829, immigrants, investment, legal, regional center, USA, uscis, Which EB-5
Posted in Immigration | No Comments » |
November 14th, 2011 |
 There is a well-known saying; “Imitation is the sincerest form of flattery” Which basically means that if people copy you they are paying you a compliment. Unfortunately, this may not always be true, as has become clear in the business of providing advice to would-be EB-5 visa applicants.
Some time ago we published a book on the EB-5 visa titled “Green Card via the Red Carpet” and we have since written a series of articles and blogs covering consumer implications behind the EB-5 visa process.
We have noticed over the years that some of the content of our book and articles have been copied by various other companies to advertise their service or product. Just recently, a new entrant into the EB-5 advice business has published an article stating that EB-5 applicants should only seek advice from “experienced” EB-5 consultants; we would like to thank them for that endorsement as they are obviously referring to Which EB5.
As we do not recommend any specific regional center, but instead seek to independently educate potential EB-5 applicants on the positives and negatives of different options, we are concerned that other companies are misleading potential applicants by using our work out of context.
If you are looking into the EB-5 Regional Center visa program, you can meet with us either at one of our discovery day seminars, face to face at a private meeting, on the phone or Skype, you can ask any questions and get information about the program and the points that are all too often not explained.
To arrange a meeting please contact us via email at info@WhichEB5.com
|
| |
Tags: advice, consultants, eb-5, EB-5 Visa, experianced, Green Card via the Red Carpet, regional center, Which EB-5
Posted in Immigration | No Comments » |
November 11th, 2011 |
 Every program has its own set of strengths and weaknesses and one group of programs that has specific potential issues are the slower filling regional center programs.
These centers may be relatively new and unproven i.e. they have not yet obtained an I-526 approval.
A regional center may have been established to raise funds for a specific development project however, the owners may have severely underestimated the skills required to attract subscribers. They may have spent some money on glossy sales material and made marketing trips to China but a lack of a successful track record may make for a very slow rate of client interest.
Potential clients of these regional center projects face a number of risks including:
- If the program fails to attract enough money will the project go ahead?
- Will the required number of jobs be created?
- Are there a number of places that must be filled before it is practical for the project to go ahead?
- Will the slow filling of the program lead to delays in their visa application?
Many who are starting the EB-5 process to achieve permanent residency status in the USA (green cards) have found it useful to begin their research by reading a consumer orientated guide on the EB-5 visa pilot program such as Green Card via the Red Carpet.
|
| |
Tags: eb-5, EB-5 Visa, Green Card via the Red Carpet, I-526, pilot program, process, projects, regional center, slow
Posted in Immigration | No Comments » |
November 10th, 2011 |
 We have issued a number of ongoing warnings about the need to be extremely careful in selecting the most appropriate regional center program that matches your specific priorities and requirements and the need to take expert independent advice as part of your due diligence strategy.
The issues with the Mamtek Moberly project have been extensively reported in an article in the Columbia Daily Tribune and one of the major concerns is the alleged report that the program had attracted a number of Chinese clients who had apparently committed capital to a program that now looks unlikely to go ahead.
It cannot be stressed enough that potential EB-5 applicants should get independent expert advice before selecting an EB-5 regional center project. There are potential dangers in buying directly from regional centers and / or agents who are making sales presentations in China without carrying out detailed research first on all aspects of the program being sold.
There are a number of concerns currently being looked into regarding the problems with the Mamtek Moberly program. For updated information on this or any other EB-5 Visa issue please contact the partners at Which EB-5
|
| |
Tags: china, chinese, eb-5, EB-5 Visa, mamtek, Moberly, regional center
Posted in Immigration | No Comments » |
November 7th, 2011 |
 For those applying for permanent residence in the USA via the EB-5 regional center visa program the process certainly seemed a lot simpler a few years ago. For a start there were only a handful of regional centers to choose from in 2007 where today there are about 200 approved by United States citizenship and Immigration service (USCIS) to offer programs.
Despite concerns at the time that those early investors were entering unchartered waters all those first few centers have remained in business several years later.
Nowadays the EB-5 visa has given birth to a whole industry, but all is not always as it seems. Sales and marketing hype has become an increasing feature with promises and guarantees made that are unlikely to always be kept. A number of regional center programs have been terminated by USCIS not long after opening but having already recruited unfortunate Chinese clients.
A few people who used to champion the protection of the EB-5 applicant and warn about the dangers of the sales people have themselves become sales people sometimes selling their own products in China.
It has become ever more important to get detailed impartial, independent information from experienced experts before choosing the EB-5 regional center programs that best matches your own specific requirements.
Many who are starting the EB-5 process to achieve permanent residence status in the USA (green cards) have found it useful to begin their research by reading the only published consumer guide on the EB-5 visa pilot program Green Card via the Red Carpet.
To receive the latest independent information on the EB-5 visa contact Which EB5
|
| |
Tags: chinese, eb-5, EB-5 Visa, experianced, green card, Green Card via the Red Carpet, impartial, independent, permanent residence, regional center, USA, uscis, visa, Which EB-5
Posted in Immigration | No Comments » |
November 4th, 2011 |
 If you are thinking of immigrating to the USA but are concerned about the country’s economic position, and worry if the country is in terminal decline, you may find an article in Britain’s Daily Telegraph interesting.
Ambrose Evans-Pritchard, International Business Editor of the Telegraph makes a strong case that although the USA may have hit a difficult period, there is a strong likelihood the USA will continue as the strongest economic power.
The article refers to a number of experts including Francisco Blanch of The Bank of America, Harold Sirkin of The Boston Consulting Group, Sandra Pianalto Chief of the Philadelphia Fed, and Charles Dumas and Diana Choyleva from Lombard Street Research and authors of The American Phoenix.
The article includes a number of interesting points about the many advantages enjoyed by the USA including having many of the best Universities in the world and concludes that America may well recover its preeminent position in the world.
To read the article go to:- http://goo.gl/MBOi5
Many who are starting the EB-5 process to gain permanent residency status in the USA (green cards) have found it useful to begin their research by reading the only published consumer guide on the EB-5 visa pilot program Green Card via the Red Carpet.
Which EB5 has a 100% track record in assisting applicants in obtaining an EB-5 visa.
To receive the latest independent information on the EB-5 contact Chase Brodsky at Which EB5
|
| |
Tags: America, eb-5, EB-5 Visa, Green Card via the Red Carpet, pilot program, USA, Which EB-5
Posted in Immigration | No Comments » |
|
