January 24th, 2012 |
 A couple of weeks ago we heard from a particular family who were looking at the EB5 visa as their best method of obtaining permanent residency in the USA. They had a number of questions to ask and during the course of our conversation it became clear they had learnt about a particular EB5 visa program through friends in their home country.
The regional center in question had strong contacts with this particular country but was a new and unproven center with no record of visa approvals. Unproven centers maybe a concern given there is often little statistical information to factor into due diligence considerations.
As first generation immigrants we can understand why sometimes potential immigrants place emphasis on working with people who come from their home country, perhaps on the basis that they have experience of the journey they are planning to take. However, looking at the regional center project this family was considering it became clear that they had not been given all the information necessary to make a judgment.
Apart from having no track record the regional center had other critical issues.
• The project in question may or may not have been a viable business proposition, from an immigration perspective it needed to satisfy certain standards including creating approved jobs. Failure to do so could lead to eventual deportation from the USA.
• The project had an ambiguous exit strategy. This raised questions such as when or indeed if they were likely to see the return of the $500,000 they would need to invest to make their EB5 visa application.
• It is also interesting to compare current processing times between various regional centers. We are aware of one long-established regional center that currently is having applications approved in six weeks where a number of new small and un-established centers are still waiting for their I-526 applications to be approved over a year later!
It could take several years before an EB5 visa holder realizes that they have made a bad decision in their choice of a regional center project.
Assuming an applicant does get approval for the visa it could be at least two years before they become aware of a problem and later find they have not been approved for the all-important I-829 (removal of conditions) petition. (This is required after two years and approval is dependent on the funds being invested in accordance with the original application and the creation of ten jobs as laid out under USCIS requirements)
In some cases it could be even longer, maybe five years, maybe ten years or longer before investors realize they may not see the return of some or all of their $500,000 investment. Bottom line, it is critical to get independent and impartial EB5 visa information when considering this visa.
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Tags: due diligence, eb5, EB5 visa, exit strategy, I-526, I-829, immigrant, immigrants, impartial information, permanent residency, regional center, removal of conditions, track record, USA, uscis, WhichEB5
Posted in Immigration | No Comments » |
November 2nd, 2011 |
 It seems that hardly a day goes by without the announcement of yet another regional center program that has been approved by The United States Citizenship and Immigration Service (USCIS). With the number of approved centers likely to head any day beyond the 200 figure some may feel that choice is a good thing, after all choice is very much the American way.
Although the choice certainly offers many options for the prospective EB-5 applicant it also raises some potential problems. The EB-5 is after all a visa requiring longer term considerations such as:-
• Will the all-important ten jobs be created?
• Will I get my I-829 or face potential deportation after living in the USA for two years?
• Will I get my $500,000 back?
New regional centers cannot refer to a measurable track record on any of the above issues and are not able to be easily compared against programs from existing regional centers. However, not all the established regional centers have been trouble-free either. One of the longest established and largest regional center programs has had refusals at the I-829 stage and has a long-standing request for further evidence (RFE) on one of its more recent programs.
There are regional centers that have an excellent track record and newer ones that maybe worthwhile prospects, the importance of doing in-depth due diligence cannot be under estimated.
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 the only published consumer guide on the EB-5 visa pilot program Green Card via the Red Carpet.
WhichEB5 has a 100% track record in assisting applicants from all over the world in obtaining an EB-5 visa.
To receive the latest independent information on the EB-5 contact info@WhichEB5.com
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Tags: due diligence, eb-5, green card, I-829, regional center, removal of conditions, USA, uscis, visa
Posted in Immigration | No Comments » |
July 28th, 2011 |
Those looking at the list of EB-5 Regional Center programs a few years ago were limited to 10 or so options whereas today the number of approved Regional Centers exceeds 150 and continues to grow as if on steroids!
It was certainly a less complex job to select the most appropriate option from 10, rather than 150, particularly as all is not as it seems at first sight.
Many of the 150 plus Regional Centers are currently not offering programs, others have no measurable statistics to draw comparisons on and others have not yet developed a critical mass of applicants, therefore requiring careful review when considering projects.
The amount of information available on the EB-5 has also grown, but much of this information is marketing and sales based. The information often fails to provide prospective applicants with an independent perspective and does not point out the negative aspects, as well as the positive issues.
Every day we read through a mass of information released by a variety of sources on the EB5 that may be of interest if you are considering the various Regional Center programs. Among the most interesting is the progress or otherwise of the Programs set up in the earlier days, have they repaid clients? What is there I-829 record? (Removal of conditions), have there been complaints? Etc.
For the latest information contact Chase Brodsky at Which EB5
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Tags: complaints, eb-5, eb5, I-829, information, regional center, removal of conditions, statistics
Posted in Immigration | No Comments » |
May 26th, 2011 |
 This can be broken down into the following stages:-
1) I-526 Immigrant investor status. Form I-526 Petition for Alien Entrepreneur is filed with the California Service Center. This petition requests the (United States Citizenship and Immigration service) USCIS to certify the applicant and the investment as eligible for EB-5 visa status.
2) I-485 or Embassy interview. Upon approval of the I-526 petition, (a) if you are in the United States on a non-immigrant visa, your attorney will file for Adjustment of Status by sending form I-485 and supporting documents to the USCIS regional processing center (b) if you live outside the US you must wait for notification from the Embassy in your home country to prepare documents for the visa interview.
3) Conditional Green Card. Upon approval of Step 2, you receive a form evidencing the approval as well as a travel documents. You will also receive the temporary green card in the mail. If you are outside the US you must enter the country within six months of the date of the Embassy approval. Your green card status will be placed in your passport at the port of entry into the USA.
4) I-829 Permanent Residency (Removal of Conditions). After holding your conditional green card for one year and nine months, your attorney will need to file for Removal of Conditions using Form I-829. This procedure enables the USCIS to verify that you have maintained your approved investment for the required two year period and that the project into which you invested has been started and the required ten jobs have been created.
Much more information on the EB5 visa is obtainable in Green Card via the Red Carpet an independent consumer guide to the EB-5 visa process.
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Tags: adjustment of status, alien entrepreneur, application procedure, california service center, eb-5, eb5, green card, Green Card via the Red Carpet, I-485, I-526, I-829, removal of conditions, USA, uscis, visa
Posted in Immigration | No Comments » |
May 12th, 2011 |
 We were speaking to an EB5 visa client of ours a few weeks ago. He had sought our advice and applied through a well thought of EB5 Regional Center Program, we asked him about his experiences now that a few years had pasted by since his decision to use the EB5 visa. His reply was it had done exactly what we said it would. He had relatively quickly obtained his I-526 approval and his I-829 (removal of conditions) had been approved. His income payments had been exactly what he had been told and had been paid on schedule.
He was clearly a happy man and had got exactly what he had expected.
Unfortunately not everyone who has used the EB5 visa is equally happy, sometimes it is because they fall for exaggerated promises from agents, consultants and regional centers rather than concentrating on the basics:-
- Will I get my I-526approved?
- Will I get my I-829 approved?
- Will I get my interest and the return of my money on time?
EB-5 Regional Centers and Programs vary so much and so does the advice given and who it is given from. For example: We know of one adviser, working in a senior position for a high profile EB5 visa consultancy, who has been censured and received a permanent bar from membership by the New York Stock Exchange Division of Enforcement.
It is very important to know who you are been given information by and what exactly is the track record of not just the regional center operators but also any company or individual involved in advising you on the complexities of the EB5 visa.
For more information contact the partners at Which EB5 Visa.
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Tags: agents, consultants, eb5, I-526, I-829, regional center, removal of conditions, visa
Posted in Immigration | No Comments » |
July 30th, 2010 |
 The family had spent some considerable time investigating options for immigration to different countries with their short list comprising Australia, Canada and the United States. They had concerns regarding the climate being too cold for much of the year in Canada and felt Australia was less central for their business requirements than the USA, deciding that California was the best match for their needs. Once they had determined that California most suited them they had spoken to an Attorney regarding visa options and she had put them in touch with WhichEB5 to take them through the various regional center programs. The family was particularly concerned that once they received the visa there should be no problems at the two year stage (the removal of conditions) so were very insistent that the center should have a proven and straightforward record of job creation. They also did not want a project that could have difficulty obtaining subscribers, in case it did not reach a critical mass and then failed to go ahead. Finally exit strategy and the return of their funds was an important consideration. These specific requirements considerably narrowed down the range of options and after discussing these with them over a number of internet phone conversations, a meeting was held at our office and subsequently they visited three regional centers. Their final decision was based on these visits with the chosen center particularly impressing them, as they felt as an ongoing program it was well proven and minimized as far as possible risk factors. The family has now successfully relocated to California. We have continued to keep in touch and checked out issues that have cropped up with him for the benefit of new investors.
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Tags: attorney, california, Canada, eb5, exit strategy, Immigration, job creation, regional center, removal of conditions, USA, visa, Which EB-5
Posted in Immigration | No Comments » |
July 21st, 2010 |
 An Irish family who had significant agricultural holdings had been monitoring the progress of the EB-5 visa for several years. They had originally purchased property on the east coast of Florida and taken lengthy holidays to see how they would adjust to the American way of life. They then purchased other properties for rental, taking advantage of the bottoming of the property market and to build an earnings portfolio for eventual relocation. They required a visa route that offered permanent residency and green cards for all the family, and wished to increase their property portfolio once they had resettled in Florida. After a detailed briefing with us they decided the EB5 pilot program was the most appropriate option and looked into the various programs in more detail. They emphasized that they required a program which had not suffered from long delays caused by requests for further evidence (RFE’s), they were also concerned that the program had been operating for several years, complied with job requirements and had a clear and specific exit strategy. After investigating the alternatives and narrowing them down to two options they opted for a project which to date has a 100% track record of approval. Following clarification on a number of issues they invested $500,000 – there where additional administration and attorney fees. The family required an Attorney based in Florida with a track record of working on EB-5 applications and also had a number of questions for us regarding possible locations to resettle in, the schooling system, removals, property, transfer of pets, health coverage etc. The I-526 approval took three months and the couple were then interviewed at the U.S. Consulate and granted visas.
Read more EB-5 Success Stories here
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Tags: attorney, consulate, eb-5, exit strategy, florida, green card, I-526, Irish, permanent residence, Relocation, removal of conditions, visa
Posted in Immigration | No Comments » |
July 12th, 2010 |
 A British couple, who had spent many happy holidays with their children in Orlando Florida over the past twenty years, had been looking at ways they might be able to retire permanently in the U.S. but were concerned that their only options apparently related to the E2 and L1 visas (which do not allow or guarantee permanent residence). They were also concerned that the attorneys they spoke with, focused only on the legal aspects but were not really listening to their personal requirements, including their wide ranging concerns on their retirement in America. I-526 approval took several months and the couple were then interviewed at the U.S. Consulate in London and granted immigrant visas. The couple have subsequently had their I-829 removal of conditions granted and have settled very happily in the Florida way of life playing a lot of tennis and golf and making friends has as they say “made them more active and busier than they were in the UK “.
Read more EB-5 Success Stories here
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Tags: attorneys, british, E2, eb-5, I-526, I-829, L1, permanent residence, removal of conditions, retire, visa
Posted in Immigration | No Comments » |
June 14th, 2010 |
When you are looking for a Consultant to guide you through the EB-5 investor visa options you need to look beyond their sales claims and instead focus on key basic issues. From our experience, working for a number of years on EB-5 visas and successfully working with over 150 families, EB5 consultants should at least possess the following characteristics otherwise you may be making unnecessary and dangerous risks with your $500,000 capital, as well as risking deportation if your approval fails at the I-829 removal-of-conditions stage. Over the next three days we will be looking at those qualities, namely:
• Impartiality
• Credibility
• Transparency
Today we will look at: Impartiality
Some Consultant’s advise both regional centers as well as individuals seeking impartial advice on the positives and negatives of regional centers; this may create a potential conflict of interest.
If a consultant is advising regional centers on how to best market or sell their programs it is hard to see how, at the same time, a consultant can claim to impartially recommend a range of different programs to individual clients.
Another issue relates to finder’s fees which regional centers pay to Consultants and sometimes to Attorneys, these can vary substantially. In certain cases these may include an ongoing percentage of interest payments.
A further issue can relate to Consultants having sole representation of a particular centers product. Again, in particular circumstances this may result in a conflict of interest.
Make sure your EB5 consultant is independent.
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Tags: consultants, eb-5, eb5, I-829, investor visa, regional center, removal of conditions, visa
Posted in Immigration | No Comments » |
May 11th, 2010 |
We have, for several months, been concerned about a number of developments regarding some of the regional centers offering EB-5 programs. We therefore decided, after finishing our book Green Card via the Red Carpet, to spend a number of weeks conducting further in-depth research into the various regional center immigrant investor programs.
As immigration advocates who have successfully worked with over 150 EB-5 applicants from many countries, our view is very clear. Would-be EB-5 investors generally wish to focus on successfully obtaining green cards, maintaining their green cards visa status, and finally obtaining the return of their $500.000 investment. Additionally some seek a sizable return on their $500,000 investment, but generally not at the risk of jeopardizing their original capital or risking the failure of removal of conditions and potential deportation.
Our weeks of follow-up research however have highlighted many important issues which we intend to cover in short blog style articles over the next month including –
- The need to be given the facts rather than a sales presentation.
- Why you need to be taking advice from EB5 consultants who work only with potential immigrants, rather than consultants who also offer services to the regional centers themselves; providing a potential conflict of interest.
- How to be aware of the limitations of certain information – for example: What, realistically, are you likely to learn from a video interview with the head of a regional center? – it’s unlikely to focus on any bad press!
- The need to be aware of the background of the people you are dealing with. We have identified some issues which should be of real concern if you are investing $500,000 of your hard earned money, particularly if those giving you advice have had previous problems with the authorities – our research has indicated some who have!
- The need to be aware that you, like others before you, can fall victim to tactics more in keeping with a car salesman that someone really interested in your families’ welfare. We are sadly aware of immigrants investing in certain programs where the sales talk sounded great but previous investors have not received their $500,000 back and others who did not have their conditions removed after twenty one months and now face deportation.
There can be enormous questions posed when many of the investors in a program do not speak English and are totally reliant on commission earning intermediaries who may be focusing on the center paying them the highest fee.
Another potential disaster is incorrect information – we have been appalled by some of the inaccuracies we have come across, including disturbingly, some from Attorneys.
Just as bad are the cases of Attorneys and Consultants who have led potential clients to believe that they are experts on the EB-5 visa and then approach us (often anonymously or using an alias) for the information to give the clients. We have been clamping down on this practice as having worked with immigrants for many years, and being immigrants ourselves to the USA; we understand all too well the reliance placed upon accurate and independent advice. You just have to make sure the information you are getting is just that, accurate and independent.
Does this mean everything you are likely to be told is flawed, or that the risks may be too great? Well, on the positive side, we have examples of a few regional centers that do not need to actively market and do not need the sales talk. They have not only successfully worked with EB-5 immigrant investors all over the world, they can also point to the fact that unlike many who rely on sales talk, they have actually returned investors $500,000 and the families are now happily established in the USA living their American dream.
We intend to cover all these issues in our forthcoming series of blogs and can talk this through with you over the phone or at our office. For more details please use the form on this blog or contact us via email from our website www.WhichEB5.com
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Tags: accurate, advice, American dream, attorney, bad press, commission, consultants, deportation, eb-5, eb5, Green Card via the Red Carpet, highest fee, immigrant investor, immigrants, incorrect information, independent, investors, regional center, removal of conditions, USA, video interview, visa, Which EB-5
Posted in Immigration | No Comments » |
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