February 3rd, 2012 |
 This may at first seem a strange question, but when you look at the basics of what different groups want from the EB5 visa process, the implications of the question become more apparent.
Let’s examine what different organizations want from the EB5 visa process.
- The US government devised the program to create jobs in areas of higher unemployment in the USA. Each EB5 visa investment of $500,000 is intended to create at least ten jobs for US workers.
- The EB5 regional center may have different priorities depending upon its set up.
Generally regional centers, or the projects they are offering, need your capital to fund a particular project; however, the mechanics behind the operating philosophies of these centers can vary enormously. Some centers have been in operation from the start of the EB5 program and have a measurable track record. Some with many years experience across a range of business sectors.
Other centers have been approved much more recently by the United States Citizenship and Immigration Service (USCIS), and some of these were formed specifically because the funding for a particular project could not be raised through any of the traditional financing sources.
- You, the EB5 visa investor generally want the quickest safest route to achieve US permanent resident status for your immediate family and the return of your $500,000 capital in a specified period of time.
It cannot always be assumed that the requirements of the three groups i.e. The Government, The Regional Center and Yourself the EB5 applicant will necessarily converge, as can be seen from the following three examples.
The government’s key focus is job creation and there are certainly a number of EB5 programs that have an excellent track record in creating jobs. However, job creation in itself does not necessarily create a financially viable project and there are a number of examples of regional center projects that have created many jobs over several years that have yet to repay any investor funding.
The regional centers key focus is generally to raise funding to carry out a specific project, however, the range and quality of these projects can vary enormously. Some have already raised significant funding from one or more sources where, with others, EB5 investors may be the only source of funding.
The view the key players behind regional centers have of the immigrant investor can be very important. For some the EB5 applicant is simply a source of funding for a business proposal, whereas some regional centers also attach considerable importance to the needs and difficulties of the immigrant family and have a particular integrity tied into the whole process.
For more information on the philosophy, success and failure behind different EB5 regional centers contact the EB5 specialists at Which EB5 by email: info@whicheb5.com or by telephone at +1-561-771-1330
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Tags: eb5 investor, eb5 regional center, EB5 visa, immigrant investor, Immigration, permanent resident, US Government, Which EB5
Posted in Immigration | No Comments » |
January 31st, 2012 |
Today we cover part one of a two-part series on Tax Responsibilities of Lawful Permanent Residents. This is a very important subject for potential EB5 visa immigrants. The following information has been provided by Maurice M. Glazer a specialist in international tax and accounting; we welcome him to our team. Please give us your opinion of this information and do not hesitate to contact Maurice for advice. You can read more about Mr. Glazer at our “EB5 Visa Team” page.
 Tax Responsibilities of Lawful Permanent Residents
If it’s January it must be tax season…. Many U.S. citizens and lawful permanent residents of the U.S. (green card holders) move to another country and forget or choose not to file a tax return in the U.S. But be warned: The U.S. requires you to file a tax return accounting for your worldwide taxable income—and the statute of limitations never runs out.
In many cases, you may have few or no U.S. taxes to pay, thanks to exclusions and deductions that you may qualify for as an expatriate. But you definitely are required to file if you are a U.S. citizen or resident alien. Not filing can create major issues. For instance, if you live abroad for 10 years and then return to the United States, the penalties and interest you’ve accrued may be more than the actual tax.
The U.S. Internal Revenue Service (IRS) is working with the State Department and with the Immigration and Naturalization Service (INS) to improve compliance with the tax return requirement.
One bit of good news: A U.S. citizen or resident alien doesn’t need to file a tax return unless gross income for the year is over a certain amount. The amount varies depending on your tax status. (See box for details.)
Even when you’re required to file a return, you may be able to cut or eliminate your U.S. taxes, thanks to the foreign earned income exclusion, the housing exclusion and deduction, and the tax credit you get for any foreign taxes you’ve paid. For 2011, you can exclude from taxes up to $92,900 of income you’ve earned abroad. The housing exclusion and deduction are living expenses above $40.72 per day for 2011.
Legal ways to zero out taxes
Fortunately, there are also deductions from gross income that you can take. See Section 911 of the tax code for these. You can also deduct foreign housing costs that you paid, or that were paid on your behalf, which are above the base amount. You need to file these items on form 2555 or form 2555 EZ. According to the IRS, it’s important to file these forms even if you’ve earned less than the amount you’re allowed to exclude.
U.S. citizens and long-term permanent residents can also take a credit for taxes paid to a foreign government. This credit is explained in section 901 of the income tax code. You report the tax credit on form 1116.
Almost half of those filing non-resident tax returns show no tax liability because of these two codes, Sections 901 and 911.
Additional forms to complete
If you’re self-employed and no foreign social security is being withheld from your earnings, you must file a Schedule C with your U.S. tax return and pay U.S. self-employment tax on your net earnings (that is, after deducting your expenses). The self-employment tax is 15.3%. It is not reduced by the foreign earned income exclusion or by foreign tax credits.
If you own more than a 10% ownership in a foreign corporation, you are required to file a special form reporting that interest. If the corporation is making a profit, it will be a “controlled foreign corporation,” and you could owe U.S. tax on its earnings.
If you are a beneficiary or a trustee of a foreign trust (for instance, a fideicomiso), or you have a bank account with a balance over $10,000, you must also file a special form.
You can be fined up to $10,000 or more for not filing any of these forms—and since there is no statute of limitations, the fines can be levied many years from now when the IRS and Hacienda (Mexico’s tax department) finally start sharing information. You can also be liable for individual state income taxes.
Tomorrow we will cover: Changing citizenship to avoid taxes: Not advisable
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Tags: eb5, experience, green card, Immigration, IRS, permanent resident, permanent residents, resident alien, tax, tax responsibilities, tax specialist
Posted in Immigration | No Comments » |
January 26th, 2012 |
 The simple answer to this question is that if you fail to get an I-829 approval on your EB5 visa you face possible DEPORTATION from the USA; there are no guarantees that you will get an I-829!
Unfortunately, this is a point that is too often ignored or missed by people looking at the EB5 visa as their best option for obtaining permanent residence in the USA.
Some families assume, or are led to believe by regional centers or their agents, that once they have applied for the EB5 visa and been approved by the United States Citizenship and Immigration Service (USCIS) through an I-526 petition, all the hard work is over and they are permanent residents of the USA.
However, the important point to keep in mind is that entry into the USA on the EB5 visa is initially through a conditional green card issued for a two-year period.
In a specific time frame, towards the end of this two-year period, it is necessary to file an I-829 (removal of conditions) petition. Success at this stage sees the removal of these conditions and a permanent green card; failure at I-829 could result in deportation.
Although the conditions for removal seem straightforward there is no guarantee that they will be met.
These conditions relate to:-
• Sufficient evidence that each investment of $500,000 has been invested in line with the original I-526 application. This should not be taken for granted; there have been examples of a regional center moving funds to an alternate program which led to refusals at the I-829 stage.
• Sufficient evidence on the creation of ten jobs per investor in the approved targeted employment area.
There are a number of issues that can occur during the two-year period of the conditional green card that could compromise the likelihood of obtaining the I-829 petition and having the conditions removed.
To name a few:-
• Downturn in the industry in which the project operates
• Problems in the development or construction of a real estate project
• Problems in the viability of a project leading to the creation of insufficient jobs to satisfy the ten jobs per investor criteria.
The importance of seeing the entire picture prior to selecting the most appropriate regional center for your EB5 visa application is critical. Which EB5 have a 100% track record for several hundred EB5 visa clients across a number of regional centers. For independent EB5 visa information contact Which EB5.
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Tags: conditions removed, deportation, eb5, EB5 visa, green card, I-526, I-829, Immigration, permanent residence, permanent resident, regional center, Which EB5
Posted in Immigration | No Comments » |
January 25th, 2012 |
 A recent question we were asked concerned the expiration of the EB5 regional center pilot program in September 2012. The client was concerned that if he chooses a particular regional center program that was slow to fill-up he could risk the project not being fully funded by the end of the program.
This is an important question that raises a number of issues:-
- The EB5 visa regional center pilot program is due to expire in September 2012 unless it is extended or made permanent by the US Congress.
- Currently applications are being processed by The United States Citizenship and Immigration service (USCIS) in a time period that can vary from less than two months to over a year.
- This time period can be longer if an applicant receives a Request for Further Evidence Notice (RFE) by USCIS, particularly if USCIS need more information specifically on the chosen program.
Although there are a number of regional centers currently offering EB5 visa projects they are certainly not all created equally.
Some regional center programs are well proven, have a lengthy 100% track record and have extensive evidence of performance. In certain cases, applications have taken under two months to be approved by USCIS.
Others regional centers struggle to attract investors and raise concerns whether they will attract enough investor funding to be able to fully fund their project. Some of these regional centers need a very high numbers of investors, others only need a small number to fill up.
If a program fails to be funded prior to the expiration of the pilot program and cannot raise enough alternative funding at a difficult time on capital markets, there may be cause for concern that a project may not go ahead which places the EB5 visa investor in a potentially risky situation.
There are a number of reasons that programs can face problems filling their spaces, these include:-
• Their marketing or sales process
• An inherent problem with the project
• Is it simply not an attractive project
For further detailed information on the many EB5 visa regional center programs contact Which EB5 for independent and experienced advice on EB5 visa matters.
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Tags: eb5, eb5 regional center, EB5 visa, Immigration, pilot program, regional center pilot program, request for further evidence, RFE, uscis, Which EB5
Posted in Immigration | No Comments » |
January 23rd, 2012 |
 “I’m buying a green card”
Speaking with a potential EB5 visa client recently he made the statement above and followed it up with “I’m prepared to pay $500,000 for a green card”
It still amazes me, maybe it shouldn’t, that in certain countries around the world potential EB5 visa applicants believe that the EB5 visa process is about them buying a green card.
The gentleman I was talking to, the one who made the statements above, was convinced that, whatever his choice of EB5 program, he would never see his $500,000 again.
Let’s spell out the facts: The EB5 program is NOT a “Green Backs for Green Card” program no matter what certain anti-immigration movements would have you believe.
With careful guidance, adequate due-diligence and by making a decision based upon facts, you can and should expect to get your $500,000 back in a definitive time. In addition, you certainly should expect to not only get conditional green card but to have the conditions removed after about two years; meaning you get to keep your green card and are not forced to leave the USA because the regional center project you chose did not create the required number of jobs.
Let’s be clear here; with so many regional center projects fighting to get their hands on your $500,000 you need to be careful. You need to rely on some expertise from outside sources including established, independent EB5 consultants, and an experienced EB5 attorney BUT, you also need to keep a clear head yourself and take responsibility for the final decision about who you are going to trust with your $500,000. Not all EB5 projects are created equal, not all EB5 projects will make sense to you. Expect to go through some level of confusion as you look at project documents.
The EB5 pilot program is a job creation program for the USA. The US government would not have invested so much time and effort recently into making this program a success if it were simply a cash for green cards program. No one can guarantee you anything about the EB5 visa program (guarantees are specifically forbidden in the EB5 program) but I can assure you that the USA government, the ethical EB5 regional center operators and we at Which EB5 all want you to get and keep your green card AND get your $500,000 back within a reasonable time frame.
I am a first generation immigrant to the USA myself; I understand so many of the thoughts and motivations that go through your head once you have made a decision to make the USA your home. I made mistakes, I trusted advice from fellow countrymen (I can explain why that can be a very dangerous thing to do) and I have been through the USCIS immigration process; I can help you and will be glad to talk about things you should be paying attention to as you prepare for and make the move to the USA.
+Stephen Parnell 
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Tags: attorney, due diligence, eb5, EB5 visa, green card, green cards, Immigration, pilot program, regional center, US Government
Posted in Immigration | No Comments » |
January 11th, 2012 |
 Could the EB5 visa investment requirement of $500,000 be increased?
Ongoing uncertainty in many countries throughout the world has resulted in increased interest in immigration to the USA.
All over the globe political concerns including the uncertainty in Korea after the death of Kim Jong II, environmental concerns such as natural disasters in Japan and economic concerns such as the problems in the Euro zone make the USA seem an ideal oasis of calm by comparison.
The fact that recent USA labor figures show unemployment finally starting to decline emphasize that the US is beginning to put its problems behind it. The USA has many advantages including its transparent political system and world leading education system which have made it the preferred choice for so many families seeking to improve their family’s quality of life.
For many, the preferred route to achieve this has been the EB5 visa, it is one of the few readily available options that allows an entire family (applicant, spouse and unmarried children under 21) to get permanent residence in the USA in a relatively quick time.
Currently the EB5 visa requires an investment of $500,000 in what the United States Citizenship and Immigration Service (USCIS) terms a “Regional Center”. However, there has been commentary by certain leading political figures that the $500,000 investment, which has not been altered for over ten years, could be increased in September 2012. If you are considering the EB5 immigrant investor visa as the best method to achieve permanent residency in The USA, you may be interested in a significant point made by Senator Grassley of Iowa, who is the ranking member of the Senate Committee on The Judiciary. In his statement on reauthorizing the EB5 regional center pilot program, Senator Grassley made a number of points including:-
“I think it’s important to consider whether the dollar amounts should be raised. They have remained at $500,000 and $1 million since the early 1990s.”
The increased popularity of the EB5 visa makes such an increase a possibility, and in the event of such an announcement, it is likely there will be a rush of applicants to beat an increase. Such a rush would have consequences in terms of supply and demand of places. In theory there are over 200 regional centers offering programs qualifying for the EB5 visa, however, currently many of them are inactive.
Of those regional centers currently offering projects, a significant number have very limited experience and/or potentially very speculative programs which show only a few previous investors.
Many potential EB5 visa applicants require programs that can point to an unblemished record, including the following:-
1. A good record of applications progressing through USCIS system in a timely manner, (times can vary from under six months to well over a year).
2. A 100% record of I-526 success.
3. A 100% record of I-829 success. At this stage conditions are removed from the green card.
4. The return of the full $500,000 within a reasonable time period. Many feel this needs to be between four to six years.
Despite lavish claims made by a number of regional centers at the beginning of 2012 it seems that only one regional center will have fully met all these criteria. (Further factual information can be obtained from WhichEB5).
It is important to be aware that in 2011 a number of regional centers programs were investigated by USCIS and later closed. In other cases families had I-829’s rejected. It is important to be very careful when choosing a regional center program and look beyond the all too typical sales hype and false promises.
For those looking at the EB5 visa as the best route to settle your family in the USA, but wanting the widest possible choice of regional center programs, there may be regional centers, which although not fulfilling all the four criteria above, may be of interest depending upon your own specific requirements. Arrange a free briefing through WhichEB5 now and you can be updated on the options available and the latest news about the EB5 visa program.
Contact Chase Brodsky on +1-561-771-1330 or via email at chase@whicheb5.com – Request full details of EB5 Visa programs
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Tags: committee on the judiciary, eb5, EB5 visa, green card, I-526, I-829, immigrant investor, Immigration, immigration to the usa, investor visa, japan, kim jong ii, Korea, natural disasters in japan, permanent residence, regional center, regional centers, residency in the usa, senate committee, Senator Grassley, united states citizenship and immigration service, USA, uscis, WhichEB5
Posted in Immigration | No Comments » |
December 14th, 2011 |
 H-1B visa holders who are approaching the six-year limit on their visa may find they face a major problem in holding onto their jobs and maintaining their lives in the USA. Once an H-1B visa holder has reached the six-year limit, or if they are laid off, the ability to extend the H-1B visa is often gone. In many cases, unless the person can qualify for a different visa, it becomes necessary to leave the U.S. for a year to restore H-1B visa eligibility.
Even if the H-1B visa holder manages to hold on to the job and the visa sponsorship, it can take many years to get permanent residency status (green cards) despite years of waiting. It has been pointed out that if you are an Indian or Chinese professional with an advanced degree, due to the country-specific green card backlog in the EB-2 category, you are little better off than your fellow countrymen with a bachelor’s degree.
Students holding F1 visas also face problems given the current economy has created a difficult job market, particularly at a time when there are many highly qualified U.S. citizens and permanent residents available who do not need H-1B visa sponsorship. In some cases, overseas students are even having a difficult time to find an employer just to maintain eligibility to stay in the U.S. for the optional practical training period, let alone to find sponsorship for an H-1B visa or the green card.
With the help of the EB5 visa program, people in these difficult situations can get green cards. The EB-5 visa program has its own specific annual quota of green cards and at present there is no backlog. The only delay is the about one year that it can take to go through the entire EB-5 immigration process.
Once the EB-5 investor obtains conditional residence they have all the rights and benefits of a permanent resident. This means they are no longer dependent on the existing U.S. employer, or on finding employment with a U.S. employer, indeed they can even go into business for themselves.
The EB-5 visa can give freedom, more career options, competing on equal terms with U.S. citizens and permanent residents in the labor market and business world, and the security that allows you to stay in the U.S.
As long as you maintain your investment in a regional center that achieves its business plan and creates 10 jobs per investor you will receive permanent residence after the two-year conditional period.
The importance of obtaining independent impartial advice before considering relocation to the USA is critical. As a first step it is worth reading the only published consumer guide on the EB-5 process Green Card via the Red Carpet.
For more impartial information on the EB-5 visa contact EB5 Experts at Which EB5 via Email or telephone at +1-561-771-1330
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Tags: chinese, eb-2, EB-5 Visa, eb5, eb5 experts, F1, green card, Green Card via the Red Carpet, H-1B, Immigration, permanent residence, sponsorship, USA, visa
Posted in Immigration | No Comments » |
November 23rd, 2011 |
 The ongoing decline in Chinese housing values has had a surprising side impact with increased interest among wealthy Chinese entrepreneurs in immigration to the USA.
While many wealthy Chinese have shown interest in relocating to the USA, until recently the main reason for the move has been to enable their children to take advantage of the world-renowned Universities and Colleges in the USA.
However, concern about the fall in property values in China and concerns about their funds in China has seen added interest among affluent Chinese citizens keen to move to the USA.
For wealthier Chinese, the preferred route has been the EB-5 visa which requires the applicant to commit $500,000 into an EB5 Regional Center project. A substantial number of these regional centers have been approved by the United States Citizenship and Immigration Service.
There has been concern about a number of EB-5 cases involving Chinese applicants who received inadequate or no advice and selected a regional centers that later failed, thereby jeopardizing both the visa and the $500,000 of capital.
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.co or call us on +1-561-771-1330
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Tags: chinese, EB-5 Visa, Immigration, independent information, regional center, USA
Posted in Immigration | No Comments » |
October 27th, 2011 |
 A report in the economic section of The Times of India recently looked at the EB-5 visa as the fastest route to gain permanent residency status in The USA for the applicant and their immediate family.
The article quoted Stephanie Ostapowich of The United States Citizenship and Immigration Service (USCIS) as stating “The programme facilitates foreign entrepreneurs’ capital investment that creates or preserves US jobs by supporting the establishment of new commercial enterprises or help troubled US-based businesses in economically distressed areas.”
The article also quoted recent reports by the National Foundation for American Policy which tracks immigration data. The report stated that getting a Green Card for Indians who have received a university degree from the US can take many years given the large number of visa-seekers and the limited number of visas available. Indian Green Card seekers who have a degree from an American University typically apply in the EB3 visa category.
The EB-5 visa may be of particular interest to wealthy Indian families whose children wish to pursue a University degree and then a career in the USA. Permanent residency status can enable a student to immediately benefit from lower tuition fees and work wherever they like without restriction in the USA. However, the article contains some information which requires closer examination as it indicates investments in a certain program have been retained on average 28 months. This cannot be correct if those investments had been to secure an EB-5 visa. Processing and holding requirements would make it unlikely that funds could be returned before a minimum of four years from the initial inception.
The EB-5 visa requires a commitment of $500,000 in a Regional Center program; the United States Citizenship and Immigration service (USCIS) have so far approved nearly 200 such centers. However, their performance is extremely variable, some have a 100% track record where others are the subject of ongoing investigation by the authorities.
Many who are starting the EB-5 process have found it useful to begin researching the EB-5 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 Indian applicants in obtaining an EB-5 Visa.
To receive the latest independent information on the EB-5 contact Chase Brodsky at Which EB5
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Tags: eb-5, EB-5 Visa, EB3, green card, Green Card via the Red Carpet, Immigration, India, indian, National Foundation for American Policy, permanent residency, student, Times of India, uscis, visa, Which EB-5
Posted in Immigration | No Comments » |
September 5th, 2011 |
 A special message from Stephen Parnell – Joint Founder of Which EB5
September 5th 2011 is the 20th anniversary of my arrival here in the USA. The latter years of this period have been very good to me, in stark contrast to those early years when I made every mistake a new immigrant can make.
Some of you reading this blog have perhaps heard some of my own experiences as a first generation immigrant during our long telephone consultations. Some of you already know that a large part of my motivation in this business is to help you avoid the mistakes a new arrival to the USA can so easily make.
For those of you yet to spend time with me on the phone or in-person, discussing your immigration goals, I want to let you know that I have experienced a lot of the same feelings and fears you have about making the USA your home.
Arriving in a new country, particularly with young children (mine were 10 and 12 back in 1991), can be a very tough challenge.
Although I did not have the advantage of being able to utilize the most predictable path to permanent residence (the EB-5 visa), I have made it through all the trials and tribulations any immigrant could be expected to encounter. It is armed with that personal experience that I urge you to not miss out on the predictability the EB-5 program can offer you and your family. Call me or email me and I will be only too happy to arrange a free one-on-one consultation with you.
Remember, the EB-5 Visa Pilot Program is due to end on September 30th 2012 unless we are able to secure an extension or permanent program by that time. If you want to make sure you can take advantage of the current program you may need to file your application by the end of January 2012.
As a first generation immigrant to The USA, and now a proud American Citizen, it would be my pleasure to assist you in any way I can. I look forward to hearing from you.
Sincerely,
Stephen Parnell
info@WhichEB5.com
Telephone: +1.561.771.1330
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Tags: Immigration, stephen parnell, USA, Which EB-5
Posted in Immigration | No Comments » |
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