|
|
October 7th, 2011 |
There has been a mixed selection of news on the EB-5 this week with good news concerning a consistent stream of EB-5 immigrants receiving I-829 approval. Bad news regarding alleged potential problems with one program and no news regarding the extension of the EB-5 regional center pilot program or the introduction of premium processing.
Good News
There has been a regular ongoing stream of clients receiving I-526 approvals which is always important. Additionally for those clients we worked with several years ago, there has also been an ongoing stream of I-829 successes. (The I-829 stage removes the conditions from visas and provides permanent green cards). As one client who received news of I-829 success commented, “the program we selected has done exactly as stated and we are delighted our relocation to The USA has worked out so well for us”.
Bad News
There has been bad news this week reported by CBS Money Watch regarding alleged issues with a particular program that had been promoted in China on a Chinese website. Currently the Attorney General in the State concerned is reported to be looking to see if any civil or criminal laws have been violated. We will keep you informed of developments on this issue.
No News
There continues to be no definitive news regarding an extension of the EB-5 Regional center program beyond September 2012 or indeed the introduction in the near future of what is termed premium processing which would greatly shorten the application process. Given the lack of news on these points those of you currently considering the EB-5 visa as your best method of achieving permanent residence in the USA may wish to act sooner rather than later.
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.
For more completely free information about the EB-5 visa contact Chase Brodsky at Which EB5.
|
| |
Tags: Attorney General, bad news, CBS Money Watch, china, civil laws, criminal law, EB-5 Visa, good news, Green Card via the Red Carpet, I-829, no news, permanent residence, pilot program, problems, September 2012, USA, Which EB-5
Posted in Immigration | No Comments » |
August 19th, 2011 |
 If you are considering investing $500,000 of your hard earned money in one of the many regional center programs you would certainly hope that the centers would be able to tell you what will happen to your investment if you are unsuccessful in obtaining your visa, or indeed are there contingency plans in place if the program invested in runs into problems.
Unfortunately, many EB-5 investors have failed to consider these questions as they have been dealing with advisers andor regional centers more focused on making their commission and selling their product rather than going into the all important small print and background details.
There are many questions that need answering such as:-
- Will your investment be escrowed prior to your application be granted, if not what are the safeguards?
- What happens if you’re I-526 application is denied? Not all regional centers will refund your administration fee or indeed your investment in this scenario.
- What happens if a program fails to find the required number of investors?
- USCIS requires your $500,000 to be at risk; however some regional centers have said the investment can be guaranteed?What is happening here and how much risk is necessary?
- What happens if you believe your funds have been placed into escrow; however they are withdrawn and used for other purpose? A court case regarding such a scenario is due to be heard in the next few months (such a situation should be avoidable).
- What are the issues to be aware of in relation to the exit strategies (return of your investment) between different programs? Currently these strategies range from a specific four year term to ambiguous references to thirty years. However all too often this is not sufficiently spelt out to the EB-5 applicant.
These are questions that do need answering. Although the vast majority of EB-5 applications have been successful there have been a few examples of investments not being returned immediately a center program has been withdrawn or failed. It is important that you are made aware of these.
There are not necessarily yes or no answers to all of these questions. The role of a truly independent and properly experienced adviser can be very important to guide you through all these and indeed many other points.
The EB-5 visa requires a $500,000 investment in a United States Citizenship and Immigration center (USCIS) Regional Center Programs. The track record of these programs varies considerably and investment terms can be as little as four years. It is vital you obtain independent information from experienced advisors prior to making a decision on Regional Center programs.
If you would like more information on these visa options and a free consultation contact Which EB-5 for an in-depth personal consultation.
|
| |
Tags: eb-5, I-526, investment visa, problems, refund, regional center, uscis, Which EB-5
Posted in Immigration | No Comments » |
June 28th, 2011 |
The EB-5 Immigrant Investor Visa provides permanent residence (Green card) status in the USA for the applicant, their spouse and their unmarried children under 21.
Green Card status provides flexibility to study, retire, work or run a business and live anywhere in the USA. There are no educational or language requirements.
The United States Citizenship and Immigration service (USCIS) has approved approximately 135 entities called Regional Centers to offer projects that qualify for this visa.
These Regional Center projects are required to create at least ten jobs per investor and to qualify for the $500,000 investment need to be in specific rural or Targeted Employment Areas (TEA).
The minimum investment is $500,000 and associated administration, legal and filing fees will amount to approximately $60,000.
Several thousand immigrants have successfully relocated to the USA through the EB-5 visa program. However, there have been a small but important minority who has experienced problems, including loss of some or all of their investment. In addition some face potential deportation from the USA.
Regional Centers generally offer three types of project:-
- Loan based investments, generally for a specific number of years.
- Equity based investments in property, generally with a less clear exit strategy (when you get your investment back) i.e. dependant on the market at the time.
- Equity based trading businesses which may be affected by trading conditions; again their exit strategy is generally dependent on market forces.
Many previous EB-5 visa immigrants have placed an importance on a centers previous record of success and a clear exit strategy.
Unfortunately exaggerated sales claims can be a potential issue with a number of the programs and whilst the majority of participants have been successful and earlier clients, in specific programs have had their $500,000 investment returned in full, a few have had real problems.
To find out the advantages and disadvantages of the EB-5 Regional Center Program it’s well worth reading Green Card via the Red Carpet.
|
| |
Tags: deportation, EB-5 Visa, facts, green card, immigrant investor, permanent residence, problems, regional center, TEA, USA, uscis, visa
Posted in Immigration | No Comments » |
June 24th, 2011 |
 Many factors can be considered important if you are applying for a visa to live in the USA.
High on the list would be accuracy of the information you are given. I was chatting to a French family at a party in Siesta Key FL last week and they were telling me about their move from Marseilles to Sarasota a few months before. The family had settled into their new lifestyle very well and were loving life in the USA.
We talked about the E2 visa they had used to relocate to Florida and I asked about their plans when their children turn 21. They looked puzzled and seemed not to recognize the potential immigration issue that arises when children reach the age of 21. It turned out that no one, including their Attorney, had highlighted to them some of the potential problems with the E2 visa, including that children may have to leave the USA when they are 21.
Over the past few years I have come across other examples of immigrants to the USA not being aware of all the necessary facts. This problem is puzzling in that Immigration Consultants and Attorneys must know about these issues, and yet sometimes fail to highlight them to the families involved.
Above all, the consequences are devastating for the families involved. They may find their family structure at risk of being split up after a few years if one or more children have to leave the USA as a result of visa issues.
It has been reported that the E2 is not the most appropriate visa for families seeking permanent residence in the USA. Other options such as the EB-5 visa may be more appropriate. Whatever visa route a family may take, being provided with all the information by a competent professional is of the upmost importance.
Given the cost and upheaval of making a permanent move to another country the last thing a family wants to find out after they have relocated there is that they face being deported back after a few years because of a fact they were not aware of.
For an independent overview of all your immigration choices contact Which EB5 who will arrange a free consultation for you with a leading immigration attorney.
|
| |
Tags: consultants, E2, florida, immigrants, immigrating to the USA, immigration attorneys, problems, visa, Which EB-5
Posted in Immigration | No Comments » |
July 13th, 2009 |
Each year we deal with several hundred applicants who are looking at the EB5 route to obtain permanent residence in the USA. Their reasons vary – however, the majority fall into a small number of key groups and we continue to look at these groups in more detail.
We have already examined the families looking to retire to the States via the EB-5 and those having problems with remaining in the USA on the H-1B. Today we are looking at those that already have the E2 or L1 visa, but are experiencing problems and are planning to apply for the EB-5.
There are many individuals and families in the United States on non immigrant visas such as the E2 or L1 that only allow the recipient to stay for a limited period.
Among the problems these visa holders can face are:
• The business they bought is not delivering sufficient turnover or employing sufficient staff for visa renewal.
• The owner of the business is not well enough to continue operating the business.
• The owner of the business wants to retire but cannot remain in the USA if they no longer maintain the business.
• The owners’ children turn 21 and face having to leave the country as they are no longer covered by the visa.
• The owner did not really want to have to run a business but was not advised of other options.
The E2 in particular has proved a problematical visa for the reasons above.
Comments from a Consular Office
“I would also like to point out that a non immigrant (E2) visa is not a good option for someone who intends to reside permanently in the United States. If the investor retires or sells their investment, his or her visa status lapses and he or she must leave the US. Only single dependent children under 21 are eligible for visas to accompany their investor parent, and when these children turn 21 they lose their status as a dependent and their visa. The more secure option for those that have the necessary capital is the permanent resident (green card EB-5) investor visa. In this case the required investment is one million dollars, or under certain circumstances $500,000.” John Caulfield, Consul General, US Embassy London.
In this blog series on who should be interested in the EB-5 we will look into some cases studies of those who used the EB5 instead of or due to renewal issues with the E2 or L1. To stay up to date don’t forget to subscribe to our blog (you can do that at the top of this page) or for more personal attention contact the partners at Which EB5 using this link.
|
| |
Tags: E2, eb-5, eb5, green card, H-1B, L1, problems, united states, USA, visa, Which EB-5
Posted in Immigration | No Comments » |
|
|
|
|
|
|
|
