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...
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.
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.
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.
‘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
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. 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.
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 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
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.
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."
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.
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 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.
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.
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.
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. ..
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 ...
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.
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.
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
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.
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.
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 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
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?)
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.
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
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.
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.
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.
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.
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.
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.
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
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.
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
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.
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.
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...
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.
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.
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
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 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.
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.
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.
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.
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.