Immigration Law Blog: Colombo & Hurd

What is the Typical Process Faced by an EB-5 immigrant-Investor?

The EB-5 visa was established in 1990 to encourage investment and job creation in the United States. While the program got off to a slow start during its first two decades of existence, demand for U.S. green cards through the program skyrocketed in 2014. In that year and for the first time ever, the cap on visa through the program was reached. Roughly 85 percent of the requests for visas came from wealthy Chinese investors. In 2014, Chinese investors accounted for 90 percent of the EB-5 visas issued. In 2015, the program hit its cap in April – again due to strong demand from wealthy Chinese investors.

SEC Is Closely Monitoring EB-5 Activities As Evidenced By Action Against South Florida Asset Manager

Intending immigrant-investors and others familiar with the EB-5 visa investment program are well aware that while the program provides a much-needed alternative source of investment capital, it is replete with legal requirements involving not only the immigration aspect of the investment, but also the financial considerations and transactions that give life to the program. Thus, aside from satisfying the regulations, standards and requirements set forth by United States citizenship and Immigration Services (USCIS), EB-5 investments and the developers handling them must also maintain full compliance with securities regulations as set forth by the Securities Exchange Commission (SEC).

Miami’s Panorama Tower Begins Accepting EB-5 Investments

In Miami, Orlando, and throughout Florida many opportunities exist for immigrant-investors to make investments into the EB-5 and regional center program. While returns on an EB-5 investment are typically modest, the real return on an EB-5 investor’s investment is a permanent U.S. green card for themselves and for qualifying family members. However, investors should always consult with an experienced EB-5 lawyer prior to making any investment because all investments into the EB-5 program must be “at-risk” meaning that either a gain or a loss can be realized. An unwise EB-5 investment can result not only in the loss of the investment funds, but also a lost opportunity to secure a permanent green card and a path to citizenship for the investor and the investor’s family.

The Importance of Understanding How EB-5 Project Type Can Affect Job Creation Requirements

Potential or intending immigrant-investors who have researched the EB-5 visa process likely know that aside from making a sufficient and qualifying investment into a U.S.-based new commercial venture, the investment must also create or preserve at least 10 full-time jobs for U.S. citizens. If these jobs have already been created when the immigrant-investor files his or her I-526 petition, they must be evidenced in the filing. If the jobs are not already in existence, the immigrant-investor must present a business plan that explains how these job creation targets will be satisfied. Then, when the immigrant-investor files his or her I-829 petitions to remove the conditions on his or her green card he or she must be able to prove that the required jobs were actually created and that they are still in existence.

Must EB-5 Projects be Financed & Carried Out through a Regional Center?

Most developers are aware of the EB-5 program and its ability to provide sources of foreign investment and funding. Many wealthy foreign individuals seeking a pathway to a green card and U.S. citizenship are also aware of the program and its benefits. Finally, a number of U.S. citizens benefits from the program by gaining a full-time job from the jobs created by the investment. In many ways the EB-5 visa program is a win-win-win proposition for all involved parties.

Senator Flake Introduces Competing EB-5 Regional Center Reform Plan

We have written extensively about the expiration of the EB-5 visa and regional center programs last September 30th and the temporary reauthorization measure that provided the program with a much-needed lease on life. However, the extension was merely a short-term measure that did not address many of the concerns regarding the EB-5 program. While some critics have attacked the program as being wasteful, others have called for the expansion of the EB-5 program since it brings capital investment to the United States. While many people get caught-up in the minutia of the program, it is important to recognize that the EB-5 program allows some of the world’s best and brightest to invest in the United States while making the country their permanent home. This program attracts entrepreneurs and other successful job creators to the United States from abroad which is likely to reinforce the American entrepreneurial spirit while creating much-needed full-time jobs for American citizens. Senator Jeff Flake’s reform is one of many bills competing to become part of the final EB-5 reauthorization and reform bill. We have already looked at competing proposals from Senator Paul and from Senators Leahy and Grassley. Here, we will look at some of the changes this reform would bring.

Data Shows That in Chinese Immigrant-Investor Use of EB-5 Program, TEA is Favored

Since the EB-5 visa and regional center program’s passage in the early 1990s, the EB-5 program has provided an important pathway to citizenship for foreign nationals while simultaneously benefitting those who are already citizens of the United States. In exchange for a qualifying investment that creates or preserves a certain number of jobs, an immigrant investor and his or her family can receive their green card granting legal permanent residency. While the green card is conditional until the conditions on it are satisfied and removed, the program remains an important pathway to citizenship and provides important benefits.

Senator Paul Introduces Invest in Our Communities Act as Competing Bill to Grassley-Leahy EB-5 Reform Measure

While the EB-5 visa program was reauthorized on a limited basis prior to its September 30, 2015 expiration, that reauthorization is only temporary through December 11, 2015. Furthermore, longstanding questions regarding program reform were not answered or even addressed by the short-term measure. Thus, while intending immigrant investors and immigration practitioners were happy to see the program extended, it was abundantly clear that this extension merely marked the start of the work on EB-5 and not the conclusion of the reauthorization process.

Expected Reform May Make Obtaining a Green Card Through EB-5 More Difficult for Chinese Investors

In August, a State Department official warned intending immigrant-investors and other EB-5 stakeholders that no more EB-5 visas would be issued until the new government fiscal year in October. This marked the first time in the history of the EB-5 program that the program had run out of its allotment of 10,000 visas for the year. In August, it seemed as though time would bring clarity to the status and direction of the EB-5 and regional center programs.

Immigration Resources in Miami & Orlando Florida

Florida is a state that is both welcoming to and familiar with immigration. The first major wave of modern immigration into the state occurred during the French and Spanish settlement during the late 16th and 17th century. Writings from the time also note the immigration of new Native American groups into what is now Florida. Immigration into Florida continued during Spanish and British rule and to the present day under the United States government.

EB-5 Visa Program Faces Uncertain Future After September 30th Re-Authorization Deadline Passes

We have previously written about the then impending September 30th reauthorization deadline for the EB-5 visa program. At the time, we speculated that a small glimmer of a possibility existed that Congress may be able to put aside its differences and pass a full reauthorization bill that included a number of reform provisions. We believed that an increase in the minimum qualifying investment and other changes were likely to the EB-5 program.

U.S. EB-5 Investor Immigration Program Faces Challenges in the Upcoming Months

The EB-5 visa has become an essential immigration tool that is a win-win for both the intending immigrant and the United States. Under terms of the program, an intending immigrant may make a qualifying investment, typically of $500,000 or $1 million, that creates or preserves at least 10 full-time jobs for Americans. This immigrant receives conditional permanent residence and if he or she is successful in the investment and job creation requirements, he or she may petition to remove the conditions on the green card. The EB-5 visa also provides a pathway to citizenship. At the same time, the United States gains needed investment, job creation, and a dedicated hard-working individual.

Understanding the Future for the EB-5 Visa and Its Job Creation Requirements in Light of Unprecedented Demand

The EB-5 Immigrant Investor program has been a remarkable success in recent years. In fact in 2014, for the first time in program history, the demand for EB-5 visas exceeded the amount available under the program. In anticipation of the continuing deluge of EB-5 applications, United States Citizenship and Immigration Services (USCIS) has issued a proposed Policy Memorandum seeking to clarify two important grounds for eligibility: job creation and the sustainment of the investment.

The Future of the EB-5 Visa in Light of Unprecedented Demand: The Effect of Material Changes on Your Investment

The EB-5 investor visa for foreign immigrant investors has never been so highly sought after as a path to a green card and, potentially, citizenship. The reasons for the explosion in demand are numerous, but regardless of these motivating factors, the end result for intending immigrants has been uneven and rather unpredictable. In light of the record number of individuals applying for the EB-5 visa, on August 10, 2015 the United States Citizen and Immigration Services (USCIS) issued a proposed Policy Memorandum regarding a number of considerations and factors that must be satisfied to qualify and remain eligible for the benefits of the EB-5.

The Future of the EB-5 Visa in Light of Unprecedented Demand: The Investment Sustainment Requirement

As discussed in the previous blog post discussing potential changes to the EB-5 job creation requirement in light of unprecedented demand, the EB-5 visa has never before been so highly sought. Indirect EB-5 projects are administered by the regional center under whose umbrella the project is handled. Some particularly notable projects being financed through EB-5 immigrant investors includes Hudson Yards and Pacific Park located in New York City, Hunter’s Point Shipyard in San Francisco, SLS Las Vegas, as well as the Panorama tower in Miami.

Many DACA Work Authorizations Issued after February 5, 2015 Were Improperly Issued by USCIS

For years, if not for a decade or more, there have been increasingly urgent calls for immigration reform in the United States. Proponents of reform believe that the immigration status of millions of Americans should be clarified so that individuals and businesses can proceed with certainty in their employment opportunities & offers and other endeavors. One particularly sympathetic group of immigrants are the children of undocumented immigrants who came to the United States while they were extremely young or were born here. These “Dreamers” lived their childhoods in the United States, identify with American culture, and have built their lives in this country through no fault of their own.

Understanding The Classes of EB Visas for Permanent Workers

U.S. Citizenship and Immigration Services (USCIS) is authorized to issue about 140,000 immigrant visas to individuals intending to immigrate on the basis of their employment or job skills. Employment-based immigration visas are known as the EB series of visas. They provide immigrants with a pathway to a green card and to citizenship. They are contrasted by the E, H, and other series of temporary worker visas that do not typically provide a pathway to citizenship.

Employers Must Comply With a Labor Certification Process for Many Work Visas

For those who wish to live and work in the United States permanently on the basis of their employment or job skills, the Employment Based (EB) series of visas provides the most direct, and traditional pathway to green card holder status and citizenship. For many intending immigrants seeking to put down roots in the United States, satisfying the labor certification process is the first step towards a green card. For immigrants seeking to immigrate to the U.S. on the basis of a familial relationships, labor certification is not required. Once the intending immigrant has received labor certification approval, the petition sponsored by the employer and advanced on the worker’s behalf can be filed.

Can an Intending Immigrant Worker Obtain a Green Card Through Self-Petition?

Foreign nationals and aliens can generally secure a pathway to citizenship through one of two immigration processes: family-based immigration and employment-based immigration. Immigrants who avail themselves of either process typically require an employer or family member to file a petition on their behalf. However, there are some instances where a petition by a third party is not necessary. However these scenarios are rather limited to individuals possessing extraordinary ability or those individuals who can qualify for a National Interest Waiver (NIW). In some limited circumstances, immigrants who qualify through family-based immigration may be able to self-petition under the Violence Against Women Act (VAWA).

Orlando Immigrants: Beware of the Unlicensed Notario Scams

Individuals seeking to immigrant to the United States must satisfy a significant number of both substantive and procedural hurdles to achieve their immigration goals. The U.S. immigration process can be complex, intimidating, and quite different from the immigrant’s expectations. Thus, it is not surprising that while immigrants embrace the United States with open arms, they may seek first help from individuals sharing a similar cultural background or who have gone through similar experiences.

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