If you are considering the EB-5 visa as your best method to gain permanent residence in the USA you may need to act in the next three/four months to make certain of obtaining the visa.
Currently applications are taking approximately six months for your initial petition to be processed by USCIS and a further three to four months for either an adjustment of status or consular processing. If you want to be sure you have enough time to go through the process with a margin of safety you probably need to apply before the end of December 2011.
The program has faced closure before but Congress has granted typically last minute extensions. However, this time closure is due in the period of a run up to The Presidential election, this adds some uncertainty to the process.
There has been lots of talk that premium processing would be introduced for the EB-5 visa program which could reduce the processing time down from the current six months to a few weeks. While this is currently under continued discussion it could take many months to implement. Meaning it MAY NOT be available until late into 2012. This would leave many applicants exposed to perhaps not getting their petition adjudicated prior to the expiry of the program.
It is very important for you to carry out full due diligence before committing to a particular Regional Center program. A number of Regional Centers have received Requests for further Evidence (RFE), some have had refusals at the initial (I-526) stage and others, more alarmingly, have had refusals at the removal of conditions (I-829) stage.
If you would like to discuss the implications of this program, or would like impartial information about the various Regional Center programs, our network of consultants and attorney’s can provide a free in-depth personal consultation to you. We currently have over 250 clients and a 100% record success record.
Here is the latest information from the USCIS on the proposed changes to the EB5 program. This information come into Which EB5 only 10 minutes ago:
“USCIS is eager to implement all of the proposed enhancements to the EB-5 program that it first announced on May 19, 2011. USCIS is currently exploring how it can accelerate the implementation of premium processing, which customarily takes months due to the need to revise the applicable forms. USCIS is currently hiring economists and other experts that will enhance and accelerate the adjudication process and also help constitute the Decision Board that was first described on May 19.
Implementation of enhancements to the EB-5 program is a high priority for USCIS. Director Alejandro Mayorkas will provide more information about the status of the proposed enhancements and other action items for this program in his first Conversation with the Director this Wednesday, September 14, and in the national stakeholder engagement on Thursday, September 15″.
We will update everyone on the developments this week stemming from the September 14th & 15th meetings with USCIS and EB-5 stakeholders.
Over the past few months the time taken by USCIS to process the EB-5 visa at the I-526 stage has been getting longer. We have had reports from both applicants and attorneys that it has not been unusual for it to take up to nine months from the initial filing to the approval.
There have been a number of reasons put forward for these longer times, including the significant increase in applications by prospective Regional Centers as well as applications for I-526s and I-829s, which have flooded the system.
USCIS had recruited additional staff to cope with the increased number of applications however, training requirements for these staff inevitably led to further delays for a period of time.
Two recent developments may indicate processing times may be starting to return to previous more rapid turnarounds.
Recent proposals have referred to both premium processing as well as speedier processing times for several categories of EB-5 applications. If these measures are eventually enacted processing times should come down significantly.
Within the past two weeks certain Regional Centers have reported a significant number of I-526 approvals being granted for their backlog of applications. This is also an encouraging signal that the backlog of applications may be clearing.
One important observation that has been made to us by a number of Attorneys is the number of Requests for Further Evidence (RFE’s) that has been issued by USCIS over the past few months on I-526 applications. Although the number of points raised in these RFEs has seemed to depend on particular programs, one issue that seems to repeatedly come up relates to whether a program is in a properly defined targeted Employment Area (TEA) or not.
It is apparent that some Regional Centers have tried to challenge the accepted Governmental interpretations of TEAs. These challenges should be of concern to potential EB-5 immigrants as they may well become a problem both at the I-526 stage and most importantly at the I-829 stage.
If you are considering an EB-5 as your route to permanent residency in the USA contact WhichEB5 for further information and a free consultation.
Today we were provided a copy of new proposals from the USCIS regarding potential improvements in the EB-5 program.
One of the most anticipated proposals is “Premium Processing” for the EB-5. Although this is only a proposal at this time it could mean much faster processing times for our applicants.
Here is a direct quote from the notice we received this morning:
As many of you know, we at U.S. Citizenship and Immigration Services (USCIS) are reviewing our policies and practices to ensure our careful and thoughtful administration of our nation’s immigration laws. A hallmark of our review is our engagement with you; your ideas and comments inform our decisions as we strive to implement the best ideas.
Through our review, your input, and other analysis, we have identified needed improvements to a wide array of policies and practices. Some of these improvements have been implemented and many are to follow. We look forward to your feedback as we make continued progress on these improvements.
As part of our broad review, and echoing President Obama’s call to promote immigrants’ entrepreneurial spirit, we have focused on the Immigrant Investor Program, commonly referred to as the EB-5 Program. It is a program designed to attract investors and entrepreneurs from around the world to create jobs in America. In the two decades since its creation, the EB-5 Program has never met the annual cap of 10,000 visas.
We recognize the importance of the EB-5 Program and its goal of creating jobs. We recognize the importance of all of our policies and practices in realizing the goals of our nation’s immigration system. Thank you for working with us in service of those goals.
Alejandro N. Mayorkas
Director
***end quote***
We are very excited about the prospect of premium processingfor the EB-5 visa applicant. If you would like more information on how this may affect your interest in the EB-5 please do not hesitate to contact us.
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 U.S. Senate.
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 Menendez D-NJ (Senator Menendez went on to appear on NBC’s Meet The Press 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 Washington and to presenting some ideas for improving the effectiveness of the EB-5 program.
The weekend started with a flight from Florida to Boston, 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 Boston. I particularly enjoyed the State House as it was from here that the British ran the colony well before a famous Tea Party (For those of our readers who are new to American History, this Tea Party 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 Cape Air. 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 job creation. 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 Regional Center 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!
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.
