Immigration Public date: 04.05.2017 19:13:20

Publisher: JD Supra

Author:

2 Apr 2017

The Future of EB-5 is Being Viewed through a Different Lens

Developers, investors and other stakeholders are looking for signs as to how the new administration will approach legal immigration, specifically immigration fostered by the EB-5 Regional Center Program.
Developers, investors and other stakeholders are looking for signs as to how the new administration will approach legal...
26 Mar 2017

USCIS Launches Regional Center Compliance for the EB-5 Program

USCIS announced on March 21, 2017 the launch of its EB-5 Regional Center Compliance Audit Program. The Regional Center Compliance Audit partially clarifies what USCIS has spoken about in public at stakeholder engagements,
USCIS announced on March 21, 2017 the launch of its EB-5 Regional Center Compliance Audit Program. The Regional Center...
16 Mar 2017

Kushners May Get $400 Million From Chinese on Tower – Bloomberg

A company owned by the family of Jared Kushner, President Donald Trumps son-in-law and senior adviser, stands to receive more than $400 million from a prominent Chinese company that is considering investing in the Kushners marquee Manhattan office tower at 666 Fifth Ave. The planned $4-billion transaction includes terms that some real estate experts consider unusually favorable for the Kushners.
A company owned by the family of Jared Kushner, President Donald Trumps son-in-law and senior adviser, stands to receive...
26 Feb 2017

IL developer sentenced to 3 years in prison for EB-5 fraud

An Illinois developer was sentenced Tuesday to three years in federal prison for using a government visa program to deceive 290 foreign investors out of almost $160 million, according to The Chicago Tribune.Prosecutors said Anshoo Sethi — who pleaded guilty last year to wire fraud — fabricated a marketing package to attract EB-5 visa investment from Chinese nationals for a $900 million hotel and convention center near OHare International Airport, which never made it past the planning stages.
An Illinois developer was sentenced Tuesday to three years in federal prison for using a government visa program to...
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18 Feb 2017

EB-5 is a big, beautiful door for Trump corruption: State Dems

When the EB-5 visa program debuted in 1992, members of Congress said it would spur job growth and whip up a significant amount of capital investment from overseas. But despite vigorous support from the real estate industry and a largely supportive Congress, opposition against the program continues to mount. Critics have taken aim at Ponzi-style schemes, murky sources of funding, and vague job creation results as reasons to pull the plug on the dollars-for-visas program.
When the EB-5 visa program debuted in 1992, members of Congress said it would spur job growth and whip up a significant...

Publisher: GPO.Gov

Author:

27 Jan 2017

DHS proposes to amend its EB-5 regulations

The Department of Homeland Security (DHS) proposes to amend its regulations governing the employment based, fifth preference (EB–5) immigrant investor classification and associated regional centers to reflect statutory changes and modernize the EB–5 program.
The Department of Homeland Security (DHS) proposes to amend its regulations governing the employment based, fifth...
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17 Jan 2017

Summary: Notice of Proposed Rule for the EB-5 Immigrant Investor Program

The Department of Homeland Security (DHS) has issued a notice of proposed rulemaking to be published on January 13, 2017 to amend the regulations in relation to the employment-based, fifth preference (EB-5) immigrant investor classification and associated regional centers.  The purpose of the proposed amendments is to modernize the EB-5 program.  DHS will accept comments... Continue Reading
The Department of Homeland Security (DHS) has issued a notice of proposed rulemaking to be published on January 13, 2017...
3 Jan 2017

Senior Housing Developer Stole $9.5 Million in EB-5 Scheme

The Securities and Exchange Commission (SEC) has sued a private equity group with senior housing ties for engaging in a $9.5 million scheme by defrauding investors. The fraudster allegedly stole millions to pay for his lavish lifestyle, including the purchase and maintenance of a yacht as well as supporting his other businesses.Emilio Francisco, a California-based attorney, raised $72 million from investors in China through his firm PDC Capital Group, LLC, the SEC alleges in its lawsuit.
The Securities and Exchange Commission (SEC) has sued a private equity group with senior housing ties for engaging in a...
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Publisher: SEC.gov

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29 Dec 2016

SEC Charges Lawyer With Stealing Investor Money in EB-5 Offerings

The Securities and Exchange Commission today charged a California-based attorney with defrauding investors seeking to participate in the EB-5 immigrant investor program, stealing their money to buy a yacht and prop up his other businesses.The SEC alleges that Emilio Francisco raised $72 million from investors in China solicited through his marketing firm PDC Capital to invest in EB-5 projects that included opening Caffe Primo restaurants, developing assisted living facilities, and renovating a production facility for environmentally friendly agriculture and cleaning products.  Under the EB-5 program, foreign investors can apply to permanently live and work in the U.S. by investing money in certain projects that bring about American jobs.
The Securities and Exchange Commission today charged a California-based attorney with defrauding investors seeking to...
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18 Dec 2016

President Obama Signs Continuing Resolution That Includes Extension of Four Immigration Programs

On December 9, 2016, President Barack Obama signed H.R. 2028, a stop-gap spending bill to keep the government running through April 28, 2017. H.R. 2028 includes a Continuing Resolution that extends four immigration programs: The Conrad 30 J Waiver, the Non-Minister Special Immigrant Religious Worker Visa, the EB-5 Regional Center Visa Program, and the E-Verify Program.
On December 9, 2016, President Barack Obama signed H.R. 2028, a stop-gap spending bill to keep the government running...
11 Dec 2016

Investor green card program that fueled 50 developments in jeopardy

Over the years, the EB-5 immigrant/investor visa program brought Philadelphia more than $700 million in direct foreign investment, facilitating the construction of at least 50 significant projects.
Over the years, the EB-5 immigrant/investor visa program brought Philadelphia more than $700 million in direct foreign...
4 Dec 2016

$50m Trump-branded development relied on immigrant visa funds

Critics say Trump Bay Street, now leasing apartments at $3,100 a month in New Jersey, is a showcase for the misuse of a controversial immigrant visa program. Kushner’s development, Trump Bay Street, which uses the Trump name under licence, with its chefs, dining tables and elaborate health and sports facilities, was completed with upward of $50m raised through EB-5 financing, according to a slide presentation by US Immigration Fund.
Critics say Trump Bay Street, now leasing apartments at $3,100 a month in New Jersey, is a showcase for the misuse of a...
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4 Dec 2016

Decision Time Near for Congress, Trump and EB-5 Visa Program

The deadline for deciding the future of the EB-5 Visa program is fast approaching.  Congress has until Dec. 9 either to terminate the 26-year specialized immigration project; continue it the way it is written or modify it.So far, those questions remain unanswered. But historical facts and stated political positions can be taken into account to come up with a clearer picture of what that future might be. And it appears the EB-5 effort is likely to be adopted once again.
The deadline for deciding the future of the EB-5 Visa program is fast approaching.  Congress has until Dec. 9...

Publisher: India PR wire

Author:

12 Nov 2016

Davies & Associates, LLC prepare for a boost in Indian EB-5 visa applicants post Trump’s victory

Speaking on President Donald Trump's victory Mark I. Davies, Global Chairman of Davies & Associates, LLC said, "Donald Trump's win in the Presidential Elections will be beneficial for EB-5 visa applicants. While some of our clients have expressed concern with a Trump victory we believed that concerns will be short-lived and that the Trump victory will cause more Indians to apply for an EB5-based U.S. Immigrant visa.Trump has previously used the EB-5 visa program as a source of funding for some of his real estate projects. Trump branded development projects have been funded by wealthy Chinese investors using the EB-5 program. Trump is clearly appears to be open to high-net-worth investors coming to the United States and receiving a "Green Card" in return for making a qualifying investment through the EB-5 program.
Speaking on President Donald Trump's victory Mark I. Davies, Global Chairman of Davies & Associates, LLC said,...

Publisher: VTDigger

Author:

2 Nov 2016

Vermont ACLU joins VTDigger lawsuit for state EB-5 records

“The state’s claim of a blanket exemption for all records related to the EB-5 program is a disappointing and unlawful example” of the state’s tendency to “vastly overstate the breadth and applicability of the Public Records Act’s exemptions,” said an ACLU lawyer.
“The state’s claim of a blanket exemption for all records related to the EB-5 program is a disappointing and...
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25 Oct 2016

US employment-based greencards greater availability from October 1, 2016

The EB-5 immigrant investor category green card has availability for investors for all Countries of birth excluding Chinese born investors wishing to invest in projects at regional centers. However, China remains the country where most EB-5 immigrants to the US are born.
The EB-5 immigrant investor category green card has availability for investors for all Countries of birth excluding...

USCIS Clarifies Availability of Priority Dates for October 2016

USCIS determined that for October 2016, Adjustment of Status applicants in family-based and employment-based categories will be able to utilize the Dates of Filing Visa Applications chart of the monthly State Department Visa Bulletin, with the exception of several employment-based categories.
USCIS determined that for October 2016, Adjustment of Status applicants in family-based and employment-based categories...

Congressional Research Service Analyzes Validity of EB-5 Program Extension

The most recent continuing resolution authorized the EB-5 Regional Center Program through Dec. 9, 2016. The House and Senate passed the measure on Sept. 28, and the President signed the bill into law on Sept. 29..
The most recent continuing resolution authorized the EB-5 Regional Center Program through Dec. 9, 2016. The House and...
7 Oct 2016

Did lawmakers flub the temporary renewal of EB-5?

Congress thought it extended the EB-5 visa program at the end of September --- but did it?The continuing resolution, issued Sept. 30, was slated to keep the program up and running until Dec. 9, and lawmakers could hash out terms for a potential long-term authorization during that period. But in the letter, dated Oct.3 and reviewed by The Real Deal, CRS cites a legal technicality which may mean the program is no longer legally funded. The program, it says, was subject to certain “sunset provisions” that see it expire unless explicit legislative action was taken to extend it. Since no legislation was technically passed to extend the program, it may have lapsed.
Congress thought it extended the EB-5 visa program at the end of September --- but did it?The continuing resolution,...
3 Oct 2016

This week in Miami real estate: New cash sales data and an extended EB-5 visa program

Lots of interesting things happened this week in the world of real estate. Notable stories this week include new cash sales data and the announced extension of the EB-5 visa program. Catch up o...
Lots of interesting things happened this week in the world of real estate. Notable stories this week include new cash...
28 Sep 2016

Senate Extending EB-5 Program

The U.S. Senate is moving forward with an extension of the EB-5 immigrant investor program as is and reforms to the program appear unlikely.The provision to extend the program is included in the continuing resolution, a short-term budget bill that allows the government to keep running until early December.Sen. Patrick Leahy says he will vote against the continuing resolution because it does not include a reform package to the EB-5 program.
The U.S. Senate is moving forward with an extension of the EB-5 immigrant investor program as is and reforms to the...

Publisher: Forbes

Author:

28 Sep 2016

Why Congress Will Extend The EB-5 Immigrant Visa Program

Congress will decide on Tuesday whether to make changes to an immigrant visa program that’s been bringing in thousands of foreign nationals since it was revamped in 2011. And while there has been ample focus on the number of companies set up to lure wealthy foreigners into projects that sometimes go bust, it seems to be the exception to the rule. The EB-5 immigration visa may be the best immigration program the U.S. has to offer.
Congress will decide on Tuesday whether to make changes to an immigrant visa program that’s been bringing in thousands...
21 Sep 2016

Milne And Leahy Trade Jabs Over EB-5 Scandal, Transparency

Republican candidate for U.S. Senate Scott Milne is renewing his call on Patrick Leahy to release Senate records related to the alleged EB-5 scandals in Jay Peak. Leahy, meanwhile, says he’s growing tired of his opponent’s tactics, and that it’s becoming evident that Milne lacks the grasp of policy needed to be an effective member of Congress.
Republican candidate for U.S. Senate Scott Milne is renewing his call on Patrick Leahy to release Senate records related...
17 Sep 2016

EB-5 Reform: Keep The Jobs, Fix The Problems

The EB-5 Investment Program creates thousands of American jobs across the country without costing taxpayers a dime. And at IIUSA, we’re working for important reforms that improve rigorous vetting of both projects and investors, while allowing the program to continue transforming communities and providing quality American jobs.
The EB-5 Investment Program creates thousands of American jobs across the country without costing taxpayers a dime. And...
17 Sep 2016

Leahy Eyes Provision to Aid Defrauded EB-5 Investors

Investors in the EB-5 program whose immigration status is in limbo due to allegations of fraud may get some relief.Proposed changes to a federal foreign investor program working their way through Congress do not go as far as Michael Goldberg, the man...
Investors in the EB-5 program whose immigration status is in limbo due to allegations of fraud may get some...
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15 Sep 2016

Leahy eyes provision that would give defrauded EB-5 investors a break

The bill provides greater flexibility for defrauded investors to reinvest in amended or new projects, and, provided the investments still produce the required 10 jobs, allows them to obtain U.S. citizenship.
The bill provides greater flexibility for defrauded investors to reinvest in amended or new projects, and, provided the...

Publisher: American Bazaar

Author:

14 Sep 2016

EB-5 visa program may expire on Sept. 30 if Congress does not take action

The investor visa program, EB-5, is set to expire on September 30, unless Congress can temporarily extend it, or reform it to cut down the loopholes and eliminate the numerous cases of fraud that surface with the program.
The investor visa program, EB-5, is set to expire on September 30, unless Congress can temporarily extend it, or reform...
14 Sep 2016

Goodlatte EB-5 Reform Bill: Initial Analysis and Section-by-Section Summary

Miller Mayer attorneys Carolyn Lee and Steve Yale-Loehr have written a summary analysis of the draft EB-5 reform bill released late on Friday, September 9, 2016, by U.S. Representative Bob Goodlatte, Chair of the House Judiciary Committee. This draft is largely a reprisal of S. 1501, the main Senate EB-5 bill nearly enacted in late 2015, but it contains some key differences that would significantly change the EB-5 immigrant visa program.
Miller Mayer attorneys Carolyn Lee and Steve Yale-Loehr have written a summary analysis of the draft EB-5 reform bill...
8 Sep 2016

Colorado Division of Securities warns immigrant investors of EB-5 Fraud

Among the resources listed in the advisory, issued as a joint effort with the North American Securities Administrators Association (NASAA), are research tools for verifying the legitimacy of investment opportunities, recommendations for documents and information to collect prior to signing anything, and red flags that might signal a fraudulent offering.
Among the resources listed in the advisory, issued as a joint effort with the North American Securities Administrators...
8 Sep 2016

Meet The London Car Dealer Who Broke The Jay Peak EB-5 Fraud Case

Earlier this summer VPR reported that state officials received documentation of alleged fraud at Jay Peak Resort in 2014, a year and a half before filing charges against resort owner Ariel Quiros and president Bill Stenger. The documentation came from an unusual source: one of the foreign investors in an EB-5 project at Jay Peak. He managed to piece together the alleged fraud before the state’s investigation even began.
Earlier this summer VPR reported that state officials received documentation of alleged fraud at Jay Peak Resort in...

Publisher: VietNamNet

Author:

7 Sep 2016

Wealthy Vietnamese advised to buy European citizenship, rather than U.S. EB-5

As the governments of the US, Australia and Canada have tightened their immigration policies, Vietnamese consultancy firms are now advising wealthy Vietnamese to apply for citizenship in countries which have more open regulations, especially in Europe.
As the governments of the US, Australia and Canada have tightened their immigration policies, Vietnamese consultancy...
4 Sep 2016

Bill Stenger Settles With SEC In Massive EB-5 Fraud Case

Bill Stenger, one of two partners in an alleged fraud of foreign investors in Northeast Kingdom development projects, has settled with the federal Securities and Exchange Commission, according to court documents. Stenger, the former president of the Jay Peak resort, did not admit or deny any wrongdoing. Documents filed in federal court in Miami say he will cooperate with the SEC.
Bill Stenger, one of two partners in an alleged fraud of foreign investors in Northeast Kingdom development projects,...
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Editorial: Full disclosure on EB-5 case

Vermonters shouldn’t be last in line in getting a full account from their government. The Shumlin administration’s latest refusal to release public documents connected to the federal EB-5 visa program continues a pattern of keeping from the public the full nature and consequences of the state’s role in projects entangled in $250 million fraud allegations.
Vermonters shouldn’t be last in line in getting a full account from their government. The Shumlin administration’s...
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Publisher: Times Argus Online

Author:

4 Sep 2016

Stenger settles EB-5 fraud case with SEC

Bill Stenger, one of two partners in an alleged fraud of foreign investors in Northeast Kingdom development projects, has settled with the federal Securities and Exchange Commission, according to court documents.Stenger, the former president of the Jay Peak resort, did not admit or deny any wrongdoing. Documents filed in federal court in Miami say he will cooperate with the SEC.
Bill Stenger, one of two partners in an alleged fraud of foreign investors in Northeast Kingdom development projects,...
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Publisher: Erie News Now

Author:

23 Aug 2016

Mainsail Lodgings First EB-5 Visa Project Receives I-526 Petition Approval

 December 2013 saw the opening of the Epicurean Hotel, the first built-from-scratch hotel in the United States to join Marriott International's ‘Autograph Collection’ of boutique luxury hotels. Developed jointly by Tampa based Mainsail Lodging and Development (Mainsail) and Bern's Steakhouse and operated by Mainsail, the Epicurean is a job creating enterprise in Mainsails EB-5 program.Even with the Epicurean’s doors open, Mainsails EB-5 program was able to continue to welcome foreign investors under the federal EB-5 visa program. Bridge or interim financing allowed the hotel developer to take out short term financing to help construct and develop the Epicurean, then as capital from foreign investors was received, it replaced that short term financing. The proposition was an attractive one to foreign investors that sought comfort over concerns with development, build time, construction risks and job creation that are often inherent in EB-5 projects.
 December 2013 saw the opening of the Epicurean Hotel, the first built-from-scratch hotel in the United States to...

Publisher: American Bazaar

Author:

21 Aug 2016

Is EB-5 visa going to be shut down by the US Govt. next month?

Rumors continue to swirl that the popular EB-5 visa which guarantees a Green Card for individuals and their family members who invest $500,000 to a million dollars in federally approved projects, along with the creation of a minimum of 10 jobs, will be shut down next month by the US Govt.
Rumors continue to swirl that the popular EB-5 visa which guarantees a Green Card for individuals and their family...
20 Aug 2016

Feds scrutinize Vermont EB-5 program

On the eve of her departure from the Agency of Commerce and Community Development next month, Secretary Pat Moulton acknowledged the federal agency in charge of the EB-5 program is questioning Vermonts EB-5 Regional Center regarding Jay Peak and another project.
On the eve of her departure from the Agency of Commerce and Community Development next month, Secretary Pat Moulton...
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19 Aug 2016

Immigration Through Investment: A Comparison of the U.S. EB-5 Program vs the Quebec Immigrant Investor Program

There are currently many different investment immigration programs offered by countries around the world, all of which offer their own unique benefits. Two popular programs are the EB-5 Visa Program and QIIP offered in Canada.
There are currently many different investment immigration programs offered by countries around the world, all of which...
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Publisher: Hospitality Net

Author:

16 Aug 2016

Chinese Investment Trends in U.S. Hotel Real Estate

The rising trend of Chinese investment in the U.S. real estate market dates back to 2010, just as the nation's economy was pulling out of the recession. The impact of Chinese investment in U.S. residential and commercial properties— including hotels—has become increasingly pronounced every year since.[1]
The rising trend of Chinese investment in the U.S. real estate market dates back to 2010, just as the nation's economy...

Publisher: Udaipur Kiran

Author:

9 Aug 2016

EB-5 Developer, Lightstone, Announces Financings of $462 Million Through the First Half of 2016

Lightstone, a prominent, privately held real estate company, announced today that through the first six months of 2016 it has secured financings totaling $462 million. The financings, from the world’s most prominent banking and lending companies, are secured by an investment portfolio consisting of hospitality, land and multifamily projects. In fact, since the beginning of 2015 Lightstone has secured total financings of $617 million.
Lightstone, a prominent, privately held real estate company, announced today that through the first six months of 2016...

Publisher: Forbes

Author:

2 Aug 2016

Foreign Investors Defrauded Through U.S. EB-5 Visa Program

For some, the U.S. EB-5 program has led foreign investors towards ponzi schemes, broken promises and missing capital. Increasingly, foreign investors are fighting back. Several high profile fraud cases that are playing out in courts now highlighting weak oversight of the program.
For some, the U.S. EB-5 program has led foreign investors towards ponzi schemes, broken promises and missing capital....
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Khan specializes in visa programs accused of selling U.S. citizenship

Khizr M. Khan's website notes that he works to help clients with the E-2 and EB-5 programs that let overseas investors buy into U.S. companies and also provides green cards for family members.
Khizr M. Khan's website notes that he works to help clients with the E-2 and EB-5 programs that let overseas investors...
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30 Jul 2016

Park Fifth developer looks to raise $60M in EB-5 money for DTLA project

MacFarlane Partners, the development giant behind a plan to bring several mid- and high-rise buildings to a 2.3-acre parking lot directly across from Pershing Square, is seeking $60 million in EB-5 financing to fund the project, The Real Deal has learned.
MacFarlane Partners, the development giant behind a plan to bring several mid- and high-rise buildings to a 2.3-acre...

Feds slam South Dakota EB-5 center again while inching closer to terminating it

The federal government took another step this month toward terminating South Dakota's controversial immigrant-investor center, referring to the state's attempts to save and defend the program as “unpersuasive,” “erroneous” and
The federal government took another step this month toward terminating South Dakota's controversial immigrant-investor...
28 Jul 2016

Jay Peak Was On Vt. Radar 4 Years Ago

State officials ignored warnings as much as four years ago that the Jay Peak developers had potentially misused immigrant investor funds, documents indicate. Douglas Hulme, owner of the EB-5 consulting firm Rapid USA Visas, had the ear of state...
State officials ignored warnings as much as four years ago that the Jay Peak developers had potentially misused...
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Publisher: LASVEGASNOW

Author:

27 Jul 2016

EB-5 visas surge in popularity

Our country's history is filled with countless stories of struggles and hardships by immigrants. If you are wealthy enough, however, you can pay your way in. Foreign nationals willing to invest $500,000 to create jobs can get a fast-track to U.S. citizenship through EB-5 visas.
Our country's history is filled with countless stories of struggles and hardships by immigrants. If you are wealthy...
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