For Immediate EB-5 Visa Information
Which EB5
Can the U.S. Senate help improve the EB-5 Program?
July 20th, 2010

I don’t usually write about personal experiences in this blog but I must make an exception and tell you about my weekend trip to Martha’s Vineyard to lunch with members of the .

This weekend I had the pleasure of being invited to have lunch in Martha’s Vineyard with a group of very influential people. Among the group that numbered about forty were Senator Chuck Schumer D-NY, Senator Jack Reed D- RI and Senator Robert D-NJ (Senator went on to appear on NBC’s the next day).

Apart from the chance to visit such a beautiful, very hot, destination, a destination that has been frequented by political figures for many years, I was looking forward to having the opportunity to speak with the Senators in a more intimate atmosphere than the usual meetings I have attended from time to time in and to presenting some ideas for improving the effectiveness of the program.

The weekend started with a flight from Florida to , a city I have not visited for any length of time before. Arriving a day before the meeting with the Senators I was able to see some of the historic sites of . I particularly enjoyed the as it was from here that the British ran the colony well before a famous (For those of our readers who are new to American History, this has absolutely nothing to do with a current movement you may hear about on the news) signaled the beginning of the end of British rule here in the USA. Being born in the U.K. and later becoming a naturalized American, this was of great interest to me.

Air Conditioning on a Cesna

As the lunch meeting in Martha’s Vineyard was set for 12.00 mid-day on Saturday I had arranged to fly from Boston to MV on . The experience flying on an 8-seater, 30 year old Cessna is something quite unique. Just how unique? I have inserted a photo showing the air-conditioning on this flight!

In case it is hard to see I should just explain that the pilot is holding open the window while we are making our way to the take-off point; this allows the passengers to breath! To be fair, the temperature outside was approaching 40 degrees Celsius (100 F).  I must also point out that not only were the flights on Cape Air smooth and professional in every way, they were quite enjoyable once one has overcome the typical thoughts associated with self preservation.

Arriving early in MV I had an opportunity to explore a little. I was taken aback by the beauty of the place and can understand why it is the chosen summer destination for so many.

As the lunch party started to arrive I was led to my seat on a table just to the right of Sen. Chuck Schumer D-NY. Leading the speeches was Senator Robert Menendez D-NJ who presented a well balanced delivery covering many topics of importance. Sen. Schumer also spoke eloquently on multiple subjects. Interjections by other guests followed and questions from some of the attendees were also voiced.

I took the opportunity to speak with Sen. Menendez regarding my involvement in, and passion for, the success of the EB-5 program.

My main focus was on the desire for premium processing for the I-526 immigrant investor petition. With premium processing available for many other types of petitions it does not make any sense to me that we make perhaps our most desired class of immigrant, those investing $500,000 to $1,000,000 into the U.S. economy, wait up to four months to know if their petition has been successful. I did emphasize that the staff of the USCIS EB-5 unit have done an outstanding job for us, the EB-5 stakeholders, and we would like to implement an improvement to the program that would also benefit that department. This move alone would, in my opinion, lead to increased use of the visa, more certainty for the applicant, an increase in international investment in the U.S. economy and of course greater . Sen. Menendez was sympathetic to my point and suggested I follow-up with his Chief of Staff (Danny O’Brien) with further details and proposals.

I then had an opportunity to speak with Sen. Jack Reed of Rhode Island. Once again I voiced my enthusiasm and desire to keep the EB-5 program heading in the right direction. Along with the need to implement premium processing we talked about the potential benefits to the State of Rhode Island of establishing a there. The Senator appeared interested in exploring this further and suggested we bring the point to his attention once the Governor’s race in RI has been settled.

I must say that I felt it very beneficial to have an opportunity to meet with and discuss these topics with such distinguished guests. If we, as advocates of the EB-5, can make representations to those with an opportunity to champion the concerns of EB-5 applicants in Washington I believe it is what we must do to preserve both the integrity of and future success of the EB-5 program.

I concluded my trip to New England with a visit to Harvard on Sunday morning. At least now I can say “I went to Harvard” even if it was only for a day!

 
Tags: , , , , , , , , , , , , , , , , , , , , , , , ,
Posted in Immigration | No Comments »
Proposed additions to the EB-5 program? Are they a disaster waiting to happen?
March 25th, 2009

Concern over housing losses and an attempt to stop home values declining have lead to a debate over an idea to have immigrants buy houses to gain a .

Last Thursday John Mauldin, president of Millennium Wave Advisers and author of the popular “Thoughts from the Frontline” e-letter floated an idea that, “give immigrants a pathway to if they buy a house”.

The report from goes on to say:

The economic benefits of this concept are potentially powerful:

  • An inflow of foreign money into the U.S. economy, which will both boost the dollar and the economy because of related spending.
  • Help sop up the supply of excess homes on the market, which will help put a floor under prices and revive the construction industry, creating jobs.
  • Help shore up America’s middle class. This assumes most immigrants with the money to buy a home are educated, white-collar workers who can help do what immigrants have done throughout U.S. history – energize the country as they pursue the dream.

The article on Yahoo (see the entire piece here) continues:

Mauldin doesn’t support giving financial incentives to immigrants or making citizenship automatic with a home purchase. We discussed whether this idea could ever fly politically. Mauldin believes that many Americans would welcome hard-working individuals into their neighborhoods to put a floor on their own housing prices and make the local economy thrive”.

You can watch the interview here:

My question to the media is:

 ”Why are we even discussing this program when we have a perfectly viable in place that is so under utilized?” A program that not only accomplishes the above goals but also CREATES JOBS FOR AMERICAN WORKERS while providing low-cost funds for infrastructure and other projects, a complete win-win for the U.S. Government and the American taxpayer.

Let’s not mess with the EB-5 program or any derivative of it that even considers the remote possibility of taking away the job creation element of the program. Our EB-5 program should be seen as an “Economic Development Program” first and an immigration program second. We are not going to win over any support (it is not exactly overflowing from DC now) if we seek to remove the employment creation element of the EB-5 program.

A bit of a rant today but I feel so strongly that we need to utilize this outstanding program and we simply are not. First step on my agenda; let’s get a 5-year extension to the current EB-5 regional center program that will give wealthy foreigners the confidence to once again look at the as THE place to invest their money. Money we, the American taxpayer, can use to carryout some of those badly needed infrastructure projects the politicians are talking about each Sunday on and .

Would like to hear what you have to say so please reply using this blog, Twitter or Skype.

Stephen Parnell

 
Tags: , , , , , , , , , , , ,
Posted in Immigration | No Comments »

WhichEB5.com, its owners and associates, do not function as attorneys or legal counsel and do not attempt to interpret immigration law and do not provide or offer legal advice or legal services or investment advice. Anyone considering an Investment based Visa should seek independent professional advice. The information on this site is intended to be general on the subject of the EB5 investment visa green card program and should not be relied upon for any specific situation. Any reference to designated regional centers on this website is posted as reference material only. For legal advice, please contact one of our attorneys. Prior results do not guarantee a similar outcome. Results depend upon a variety of factors unique to each person. Which EB5 is a service of Ireeco LLC 1515 N.Federal Hwy. Suite 300 Boca Raton Florida 33432 USA Telephone: +1-561-771-1330.