EB-5 & Other U.S. News
EB-5 Regional Center Program Sunset Date: On December 18th, the EB-5 Regional Center Program is set to expire unless reauthorized by Congress and the President. It is usually reauthorized on a short-term basis as part of the government spending bills...
Cotton’s claim that Mayorkas was guilty of selling green cards to Chinese nationals
Alejandro Mayorkas, Biden’s nominee for homeland security secretary, was the subject of a critical inspector general’s report. But Sen. Tom Cotton (R-Ark.) spins the facts beyond recognition.
U.S. Immigration Funds 29th and 5th EB-5 project receives I-526 approval from USCIS
Uniindia: JUPITER, Florida, Nov. 3, 2020 /PRNewswire/ - U.S. Immigration Fund (USIF) is pleased to announce that USCIS has approved the first I-526 petition for 29th and 5th located in NoMad (North of Madison Square) in New York City. Demolition and construction (e.g., foundation work) activities have been underway throughout the Covid-19 shutdown as such activities were deemed essential by the NY State Governor.
Local attorney and her business partner sentenced to prison for immigration fraud
Silicon Valley’s multimillion-dollar mansion king
In 1979, China went through a free-market reform that saw unparalleled economic growth, development, and wealth creation.The country was ripe with a new class of millionaires and billionaires looking for foreign investments, and new US immigration policies were set up to court them: Under the EB-5 visa program, foreign residents could obtain an expedited green card if they invested $500k-$1m in a US venture.
Why Was Governor Steve Bullock Soliciting Chinese Investment in Montana?
‘When you invest in Montana, you have the full support of the state,” Governor Steve Bullock says at the conclusion of a video soliciting Chinese investment in the Treasure State.The circumstances surrounding the video, which was recently provided to National Review, remain unclear. Though Bullock’s
Coronavirus real estate: Loan helps launch Millbrae hotel
A new Marriott Residence Inn is expected to sprout next to the Millbrae BART station after landing a construction loan that serves as a welcome counterpoint to the pall of economic uncertainty cast by the coronavirus.
U.S. Immigration Fund Announces I-829 Approval for its West 57th Project in Manhattan
Taxpayers to foot bill for Stenger’s legal team in EB-5 case
U.S. Supreme Court leans toward SEC’s power to recover ill-gotten gains
U.S. Supreme Court justices on Tuesday appeared inclined to back the Securities and Exchange Commission's power to use federal courts to force defendants to surrender profits obtained through fraud as part of its enforcement of investor-protection laws.
Growing Markets: EB-5 Visa Usage Has Increased in These Foreign States
EB-5 March 2020 Visa Bulletin & Chart B Update
Where Are All the EB-5 Real Estate Juggernauts?
Over the last three years, many regional centers approached the changes proposed in the new regulations as if it were the end of the world. How would they actually operate in true rural areas and in actual urban distressed areas without gerrymandering census tracts in order to qualify?
CanAm Issues Statement on EB-5 Immigrant Program Modernization Final Rule: Minimum Investment Increases to $900,000
CanAm Enterprises announces that, with the amendment by U.S. Citizenship and Immigration Services (USCIS) of its policy guidance to align with the EB-5 Immigrant Investor Program Modernization Final Rule, which became effective on November 21, 2019, the EB-5 Immigrant Investor Program has undergone significant
EB-5: 2020 and Beyond
The EB-5 program is undergoing the most significant changes in over 10 years – maybe ever. The changes are driven primarily by the new regulation increasing investment amounts and significantly restricting the geographical areas that qualify as targeted employment areas.
Pundits Weigh In On Top Real Estate Trends Of Past Decade
From the reinvention of shopping malls to the rise of co-living spaces, and from the ascension of mixed-use developments to the foodie-culture-fueled transformation of city enclaves, these were the trends our panelists felt merited the spotlight as we recap the decade of the "twenty-teens."
CMB Announces the new EB-5 Immigrant Investor Program Modernization Regulations have taken effect, what does that mean? | Daily Stock Dish
As of today, November 21, 2019, the new are effective. Although there are many changes to the EB-5 program that are included in the new regulations, the biggest changes are: increased minimum investment amounts, new targeted employment area (TEA) definitions, and designating authority of TEAs is taken away from the State and the United States Citizenship and Immigration Services (USCIS) will now be directly responsible for verifying the project is located in a qualified TEA.
Jay Peak receiver sues USCIS over green card failure
Vermont Business Magazine The Jay Peak Receiver filed suit in federal court in Florida November 15 saying the United States Department of Homeland Security and the United States Citizenship and Immigration Services (USCIS) have dragged their feet in awarding permanent "green cards" and resident status to EB-5 immigrant investors who have completed the necessary process of
EB-5 Investor Visa Program Funding Extended Through Dec. 20, 2019
EB-5 Regional Center Program was set to expire on Nov. 21, 2019. On Nov. 18, Congress introduced a Continuing Resolution to fund the government and extend vital programs such as EB-5 through Dec. 20, 2019.
The price of a green card: Four questions about EB-5
For three decades, foreigners who put at least half a million dollars into projects that create American jobs have been able to trade that investment for a visa and a shot at a green card. Sometimes called the "golden visa," it has been used to fund real estate projects in cities including LA, and it’s about to cost even more. On Nov. 21, the federal agency that oversees the EB-5 Immigrant Investor Program plans to raise the minimum investment from $500,000 to $900,000.
Will New Rules Be a Game Changer for the EB-5 Industry? Insiders Doubt It
Two more EB-5 fraud defendants want federal trial moved
US green card seeker? The EB-5 investor visa is about to cost a whole lot more
A scandal in Front Royal highlights the EB-5 investor visa program’s flaws
Warren County economic development officials said they had recruited a developer who would fund it in part with $40 million from 80 wealthy foreigners, who, in turn, would get conditional permanent residency visas, known as EB-5 visas, if they ponied up the funds. Alas, the investment failed to materialize; the developer, among others, faces a civil fraud lawsuit by the economic development authority.
EB-5 Visa Interest In Nigeria Is Growing
Interest in the EB-5 visa appears to be growing in Nigeria. According to the Report of the Visa Office, 97 Nigerians were issued EB-5 visas in FY 2018, the highest number of EB-5 visas issued for any African country that fiscal year. ..
Differences Between The EB-5 Direct Investment Program And The Regional Center Program
McAllen EB-5 Regional Center to Partner with Houston EB5 for Enhanced Investment Opportunities
Today, the McAllen EB-5 Regional Center announced a unique collaboration with Houston EB5, in which the McAllen’s EB-5 Regional Center and Houston EB5 will co-market the EB-5 program to potential foreign investors in the South Texas market. On the back of the McAllen EB-5 Regional Center’s Cambria Hotel project, McAllen EB-5 continues to receive interest ...
Ex-White House aide, business partner convicted in post-Katrina foreign investment fraud case
Federal court jurors in New Orleans on Friday convicted a former top military aide to three U.S. presidents and his business partner on charges that they scammed $15 million out of foreign nationals who believed they could become permanent American residents if they invested in the city’s post-Hurricane Katrina recovery.
The Race To Prepare The EB-5 Form I-526 Before The Deadline Is Heating Up
Program that includes NY Wheel EB-5 investors touts strong track record
EB-5 visa hopefuls face a 260% increase in investments
EB-5 visa changes set for Q4
There are five changes to the rules, and they are (1) priority date retention, which will allow investors to keep their place in line in the application process if they have to change their qualifying investment due to circumstances beyond their control; (2) increases to minimum investment amounts — an increase from $1 million to $1.8 million for standard investments and an increase from $500,000 to $1 million for investments in a targeted employment area (TEA); (3) a shift in the authority for making TEA designations from states to DHS; (4) a clarification of rules regarding an investor's derivative family members; and (5) miscellaneous changes and clarifications.
Final Rule Announced: Increased EB-5 Investments to $900,000 and $1.8 Million Starting November 21, 2019
WASHINGTON, July 23, 2019 /PRNewswire/ -- U.S. Citizen and Immigration Services (USCIS) will publish the Final Rule containing new EB-5 regulations on July 24, to go into effect on November 21, 2019. The Final Rule scheduled to be published on Wednesday, July 24, 2019, in the Federal Register is set
Major changes to EB-5 program approaching
There's a draft of new regulations for the EB-5 Regional Centre program. OMB review is the second to last step in the regulatory process before a new regulation becomes effective. Essentially, OMB put investors and the entire EB-5 industry on notice that regulatory changes are likely coming in the very near future.
Foreign Investor Immigration Stampede Expected As U.S. EB5 Investment Requirements Rise
A new immigration regulation regarding the EB5 investor program could substantially raise the investment amount required. Many foreign investors would be wise to file their applications to get in under the old program before it changes. This article offers suggestions on how to prepare.
FAQ’s for Indian EB-5 Applicants Subject to Retrogression
Questions Answered for Indian EB-5 Applicants Subject to Retrogression: what to do if you haven’t received a fee bill from National Visa Center NVC but your I-526 Petition is approved, checking your priority date, and estimated wait time due to retrogression.
India maxes out US EB-5 investor-visa limit
India has reached retrogression for its investor visa EB-5, with the country utilising the existing cap of 700 visas offered by the US government to every country for the US fiscal year 2018
Wealthy Indians may find it difficult to get US visa
AAP launches US EB-5 visa investment program in Nigeria
EB-5 Legacy Fund Launched, Behring Turns Focus on Creating Generational Wealth
The Legacy Fund naturally solves EB-5's basic needs by investing in high quality residential apartments and creating jobs through construction backed by completion guarantees. The fund goes further to solve EB-5 investors biggest concerns with the program: retrogression (backlogs), liquidity (will I ever see my money again?) and redeployment (where is my money going next?)
Power Couple Pleads Guilty to Charges After Palm Beach EB-5 Visa Fraud
Financial Gerrymandering in New York
Hudson Yards was partially financed through the EB-5 visa program, which allows for the acquisition of visas in exchange for large investment in developing what is deemed an "economically distressed area," as determined by "targeted employment areas," or TEAs, with 150% the national rate of unemployment. Hudson Yards was drawn into a map by Empire State Development, which places the neighborhood in the same TEA as several public housing developments in northern Manhattan. This allowed for $1.2 billion in funding to be invested in a luxury location.
EB-5 Foreign U.S. Investors Top 10 Updates to Know Now
US Citizenship Immigration Servs. confirmed in policy manual changes that EB-5 investors' funds must sustain their investment at risk throughout the 2 year conditional permanent residence period. A memo to USCIS outlining concerns was issued by Invest in the USA--IIUSA
$318 Million Repaid to EB-5 Investors in New York City Regional Center Offerings
The New York City Regional Center (“NYCRC”) is pleased to announce that a total of $318 million in loan proceeds has now been repaid to EB-5 investors in previous NYCRC offerings. The resulting job creation from these previous offerings enabled 2,025 individuals (EB-5 investors and family members) to receive permanent residency in the United States under the EB-5 Immigrant Investor Program. They are among the 4,672 individuals worldwide who have received permanent residency through NYCRC offerings to date.
Inside The Wild Legal Battle Over EB-5 Fraud, Defamation And A $2.5B Times Square Project
Delaware Chancery: For Cause Removal Must Be For Cause
10-Story Apartment Building (an EB-5 project) Planned for Bergenline Avenue in West New York
EB-5 investors sue NY developer for $50M over failed Chicago tower project
A group of Chinese investors is suing a developer to return some $50 million invested in a failed River North tower project. The 60 investors each contributed $550,000 to the Chicago project in hopes of securing an American visa through the federal EB-5 program, but the plan by New York-based Symmetry Property Development was thwarted when Alderman Brendan Reilly (42nd) rejected it in 2017 over traffic concerns, according to Loop North News.
EB-5 Program During Government Shutdown: Facts Investors Need to Know
Jay Peak now for sale: Can it go for $250 million to repay investors?
Jay Peak receiver presses ahead with resort’s sale
How Does the Government Shutdown Affect Immigration?
USCIS is a fee-funded agency so if the government shuts down, it is generally business as usual. The exception to this is those programs that receive appropriated funds – E-Verify, the EB-5 Immigrant Investor Regional Center Program, Conrad 30 J-1 doctors, and non-minister religious workers.
America’s EB-5 investor visa programme backlog is putting Chinese capital at risk
Bureaucrats flagged White House on questions about Kushner
The nonprofit watchdog organization Democracy Forward is suing agencies including US Citizenship and Immigration Services and the Department of Homeland Security for information that could indicate whether Kushner had any involvement in discussions about the extension of a program offering foreigners who invest in US businesses, including real estate, visas and a path to a US green card.
U.S. Work Visa Options For Entrepreneurs: A Beginner’s Guide
Federal judge blocks questioning of top state EB-5 officials, for now
Judge Christina Reiss has ruled that Barr Law Group must depose Jiangming Shen before taking testimony from more state officials. Brent Raymond, the former director of the state EB-5 program, has testified that he urged the state to look into the fraud in 2012.
U.S. Tax Reform Sparks Renewed Interest from Latin American Investors
Immigration-based investment programs are drawing investors and high-net-worth individuals from South and Central America to countries such as Portugal, Spain, and Cyprus, experts said during a panel discussion at the ULI Latin America Conference, held in Miami during September. U.S. tax reforms are also leading potential investors to take another look at markets in Nevada and Florida, they said.
SEC charges law firm with EB-5 fraud scheme
The federal government has charged a Northern California law firm with running a fraudulent EB-5 scheme that generated more than $10 million in commission fees from foreign investors. The Securities and Exchange Commission’s complaint alleges that several people connected with the Law Offices of
Yes, the EB-5 program needs reform, but it’s far too valuable to dismantle
Lawsuit filed in EB-5 fraud case at Jay Peak
Continuing Resolution Would Extend the EB-5 Program to December 7 | Polsinelli – JDSupra
More South Africans seeking US Green Card through EB-5 investment than ever before
Grassley urges reform of EB-5 program
SEC charges Palm Beach developer and EB-5 regional center with fraud
The Securities and Exchange Commission has charged a Palm Beach developer, EB-5 regional center and its managing director of defrauding foreign investors in a failed Palm Beach hotel-condo development.
IIUSA Supportive of Lawsuit Seeking EB-5 Visa Relief to Help Aged Out Children and Foster U.S. Job Creation
WASHINGTON (PRWEB) August 02, 2018 -- Association member and EB-5 investors file suit against U.S. government to help aged out children and find reasonable solution to visa backlog issue
What’s ahead for EB-5?
The EB-5 investor visa program will expire Sept. 30, a deadline that's worrying some investors, Gauri Bhatia writes for CNBC. The EB-5 program allows foreigners who invest $500,000 in a U.S. commercial project that creates at least 10 jobs to apply for a green card, but some critics argue that it’s susceptible to fraud and abuse. Beyond that, opponents contend that it's too cheap, since the investment level — $500,000 if the project is in a high-unemployment area — hasn't been revised upward since it was created in 1990.
EB-5 Terminated: State will appeal federal decision to end program
Ski Area Developers to Pay in EB-5 Case
Vermont has settled a lawsuit against two ski resort developers who were accused of defrauding the state’s troubled immigrant investor program. Attorney General T.J. Donovan announced on Thursday that former Jay Peak ski area owner Ariel , of Miami, will pay the state $2 million, satisfied by giving it five properties in and around Jay Peak. Those properties will be liquidated, and the money will be earmarked for economic development, Donovan said.
Suit Alleges EB-5 Lawyers Got Kickbacks
The former developers of Jay Peak Resort gave $5 million in kickbacks to more than 100 immigration attorneys, according to a lawsuit pending in federal court.Bill Stenger, the former CEO of Jay Peak, gave immigration lawyers a $25,000 payment for...
EB-5 Under Magnifying Glass
Hollywood hotel offering green card for USD500K investment
An architect's perspective of the upcoming Tommie Hotel Hollywood in downtown Los Angeles (Photo from Harvey Law Group Philippines)MANILA -- An investment immigration law firm is inviting investors from South East Asia, including Filipinos, to invest in a Hollywood hotel firm that comes with it the chance to have a green card and reside in the US in less than two years.
EB-5 Immigration firm sued for ‘inadequate representation’
A Vermont federal court denied a motion for dismissal lawsuit filed against Anthony Korda and The Korda Law Firm by a man who was seeking permanent U.S. residency, instead ordering that the case be moved for jurisdictional purposes to the U.S. District Court for the Middle District of Florida, according to an opinion filed on May 8.
Conditional Permanent Resident Policy Update Issued by USCIS
EB-5 developer plans Hyatt brand hotels near LAX
A pair of Hyatt-brand hotels will land on West Century Boulevard outside Los Angeles International Airport, contributing to the expected development boom there. The 272-room Hyatt Place LAX and 129-room Hyatt House LAX are in development at 5959 W. Century Boulevard, according to the Los Angeles
South Florida EB-5 projects Las Olas Ocean Resort, Palm House Hotel mired in litigation, fraud charges – South Florida Business Journal
EB-5 Investor Lawsuit Against Vermont State Officials Dismissed
American Lending Center Announces Taiwan Expansion
The surest path to a green card may be an investor visa — at least for anybody with $500,000 to spare
Judge agrees to freeze Quiros properties in Bahamas, Colombia in EB-5 case
Vermont judge has sided with the state in its bid to freeze the assets of Jay Peak developer Ariel Quiros, issuing an order Monday that applies to property in Vermont as well as outside the state and country. The order against Quiros freezes not only five properties in the state, but others in Florida and Colorado as well as Colombia, the Bahamas and Puerto Rico.
Kushner Cos. Has Handshake Deal With Vornado for New York Office Tower
Kushner Cos. has reached a handshake”deal to buy the 49.5% stake in the office tower at 666 Fifth Ave. in Manhattan that it doesn’t already own from its partner Vornado Realty Trust. Kushner Cos. was subpoenaed by federal prosecutors in New York last year regarding its use of the EB-5 program. Kushners general counsel has said that the company has fully complied with the EB-5 rules and is cooperating with legal requests for information.
As US tightens up, immigration lawyers advise EB-5 visa applicants to speed up filing
UPDATED: Quiros says state EB-5 officials have unclean hands
EB-5 Extension: Developers Can Garner Required Financing
EB-5 case: Attorneys sex claim challenged by Vermont attorney general
Vermont Attorney General T.J. Donovan called Tuesday on an attorney representing foreign EB-5 investors to "immediately turn over evidence" to support an allegation that a state official connected to the EB-5 program was arrested in China for having sex with a minor.
EB-5 gets yet another six-month extension
Saddlebacks prospective buyer denies that EB-5 visa program is driving the purchase plan
Chilling Effect of Proposed EB-5 Investment Amounts on EB-5 Regional Centers in Rural States
Governor files motion to allow state to disclose Jay Peak EB-5 fraud documents
The Vermont Department of Financial Regulation (DFR) and the Attorney General’s Office (AGO) on Friday filed a motion with the Superior Court Washington Unit that would allow the State to publicly disclose documents relating to the alleged fraud case against Ariel Quiros and Bill Stenger.
After Vermont fraud, EB-5 investors can bring their money to Harry Macklowe
Dozens of foreign investors whose money was misused in a massive EB-5 fraud scheme in Vermont can reinvest their capital in Macklowe Properties 1 Wall Street condominium project, a federal judge ruled.
EB-5 Investor Immigration Program Faces New Challenges From Kushners Involvement
President Trumps son in law, Jerad Kushner is under fire for his use of the EB5 investor immigration program. The program has lost some of its luster. Chinese investors in particular have been shying away from it. This article discusses why the program is troubled and other immigration options.