Immigration
EB-5 & Other U.S. News
Cotton’s claim that Mayorkas was guilty of selling green cards to Chinese nationals
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.
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
U.S. Supreme Court leans toward SEC’s power to recover ill-gotten gains
Where Are All the EB-5 Real Estate Juggernauts?
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
Pundits Weigh In On Top Real Estate Trends Of Past Decade
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
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.
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
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.
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
FAQ’s for Indian EB-5 Applicants Subject to Retrogression
India maxes out US EB-5 investor-visa limit
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?)
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
$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.
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.
How Does the Government Shutdown Affect Immigration?
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.
Federal judge blocks questioning of top state EB-5 officials, for now
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
SEC charges Palm Beach developer and EB-5 regional center with fraud
IIUSA Supportive of Lawsuit Seeking EB-5 Visa Relief to Help Aged Out Children and Foster U.S. Job Creation
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.
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
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.
EB-5 developer plans Hyatt brand hotels near LAX
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.