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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 10th, 2011 |
The increasingly popular EB-5 visa can provide permanent residence in the USA for the applicant, their spouse and their unmarried children under 21. The favored EB-5 visa option is the Regional Center Pilot Program which requires a minimum investment of $500,000 through a Center approved by the US Government.
In a series of blogs this coming week we will answer some more of the questions frequently asked by those who are considering relocating to the USA in the next year. (The visa is what is termed a pilot program and is currently due to end in 2012).
Why is processing time with the USCIS taking so long?
Processing time from the moment the investment is made depends on four key stages, of which two are dependent on USCIS (United States Citizenship and Immigration Service).
- The track record and/or experience of the EB-5 immigration attorney selected; their track record can vary considerably.
- The regional center program selected. Some programs have a greater risk of being served a Request for Further Evidence (RFE) which can add considerably to the processing time, whereas others have fewer issues for USCIS to question.
- The processing time once the application reaches USCIS. This is currently in the region of 6 months (December 2010) but has been as low as 2 months. Staff availability and training at the USCIS service center processing applications are factors in the current longer processing time.
- The other important factor affecting processing time is where you are residing once the I-526 is approved. For those already in the USA, (probably on a non permanent visa) the applicant usually files for an adjustment of status however, if you are residing overseas and will need to seek an interview at the US Consulate in your country processing times can vary.
More questions concerning the EB-5 visa tomorrow.
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Tags: adjustment of status, eb-5, I-526, immigration attorney, investor visa, permanent residence, pilot program, processing times, questions, request for further evidence, US Consulate, USA, uscis, visa
Posted in Immigration | No Comments » |
March 1st, 2010 |
 It is interesting to look beyond the headlines used to promote regional center programs.
Here are some example headlines we found and the reasons you need to explore deeper to expose ALL the details before you choose a regional center for your EB-5 visa.
1. “The only Designated Regional Center in the U.S. controlled and supervised by State Government.”
The Regional Center investments that operate under the banner of a state can sometimes confuse prospective investors in terms of the implications of this status. For example, has the “State Government” any responsibility for repayment of the investment? Some investors assume such designation may offer a safety net. Another question might be: What role does the state government play in the exit strategy regarding the then value of the investment?
Some regional centers, at different times, have made this claim. One program that operated under a State banner is reportedly the subject of litigation. This could raise raises questions as to how far the “state” supervised the program.
2. “A 100% success record for EB-5 Visa approval and faster approval times.”
Many centers have a 100% successful track record, at least at I-526 stage. As regards faster approval times; centers generally get approvals within the USCIS average time lines however, for specific reasons relating to “Requests for Further Evidence” RFEs, and the nature of some programs, some centers have had longer approval times.
3. “In 2009, a total of 4,218 wealthy investors from outside the U.S. successfully applied for and received an EB-5 visa. But many are left asking what has accounted for the recent interest the program has been receiving”?
Firstly a few points regarding these figures which may seem a little pedantic but are important for reasons that can be explained.
The figure quoted includes the spouse and children of the investors; it does not mean there were actually 4218 individual investments in regional centers. - Many investors have a spouse and at least one child so the number of actual investors is nearer a third of the total number of visas. Secondly, the figure for 2009 contains a substantial number who invested in 2008; delays in processing carried these over into 2009.
The main change to be aware of in the figures for 2009 is actually the nationality of investors, with a greater proportion of Chinese investors in particular. China has seen a significant sales focus by a number of regional centers and their agents based in China. This has meant certain programs have mainly Chinese investors whose particular motivation and awareness may have implications.
4. “The regional center returned my investment in three years.”
Three years is generally unrealistic given current review times. That is unless the client is selling out at the moment their I-829 petition is approved. This could be extremely dangerous
Andrew Bartlett and Stephen Parnell are authors of Green Card via the Red Carpet. You can read excerpts of the book at our book website and/or contact the authors via Which EB5.
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Tags: andrew bartlett, china, Chinese investors, eb-5, exit strategy, Green Card via the Red Carpet, I-526, I-829, investors, litigation, regional center, request for further evidence, RFE, state government, stephen parnell, uscis, value of the investment, visa, Which EB-5
Posted in Immigration | No Comments » |
January 7th, 2010 |
 Enrollment for this school year is only seven months away After conferring with a number of specialist EB-5 immigration attorneys we have calculated the current average times for I-526 approvals from the USCIS is about 3 months, with consular processing running at an additional 4-6 months. This is a total of 7 to 9 months before you can enter the USA using your EB-5 visa.
If you are planning to apply for the EB-5 visa and require approval in time for your children to start school/college in the USA at the start of the school year August 2010, you need to act now.
Some regional center programs, can for specific reasons, RFE’s – requests for further evidence etc, be faster than others.
If timing is important to you and you want your children to start school or you have children turning 21 in the next year please contact us urgently for further information info@WhichEB5.com
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Tags: consular processing, eb-5, eb5, I-526, immigration attorney, regional center, request for further evidence, USA, uscis, visa
Posted in Immigration | No Comments » |
July 17th, 2009 |
Today we look at an Irish family who had significant agricultural holdings in Ireland and wanted to provide an elevated standard of living for their family by relocating permanently to the U.S.A.
The family 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/vacations 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 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 processing delays caused by requests for further evidence by the USCIS (RFE’s), they also wanted a program that had previously complied with job requirements and had a clear and specific exit strategy.
After investigating the alternatives and narrowing it down to two options they opted for an infrastructure project which to date has a 100% track record of approval. Following clarification on a number of issues they invested $500,000 – plus regional center administration and attorney fees.
The family decided to sell their business and property assets in Ireland which provided them with total net worth well in excess of the required figure. The I-526 approval took three months and the couple were then interviewed at the U.S. Consulate and granted visas.
If you are planning to retire permanently to the USA and are interested in the EB5 regional center pilot program you can contact the partners of Which EB-5 for a personal consultation using this link
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Tags: american, eb-5, florida, Irish, job requirements, pilot program, regional center, Relocation, request for further evidence, RFE's, USA, uscis, visa, Which EB-5
Posted in Immigration | No Comments » |
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