Saturday, February 28, 2009
EB-5 REGIONAL CENTER PROGRAM EXTENSION UPDATE
Okay, some good news. The House has included a provision extending the program for six more months in the omnibus budget bill it voted out this week. The Senate still needs to act, so don't break out the champagne yet.
And USCIS has issued a press release outlining procedures for last minute filers (the program expires March 6th).
# posted by Greg Siskind @ 11:08 PM
BILL INTRODUCED TO PERMIT E-2 INVESTORS TO GET GREEN CARDS
Congressman Adam Putnam (R-FL) has introduced a bill that would implement #8 of The Ten Ideas I had for using immigration to stimulate the US economy. I don't claim credit for the concept (the bill has actually been introduced in the past) and I happily endorse the plan as something that could provide a real boost to attract foreign capital to the country and help create an enormous number of jobs for American citizens.
The bill's relatively simple. It would create a new EB-5 category for E-2 investors who have been in the country for at least five years in E-2 status, have invested at least $200,000 and creates full time jobs.
Here's the text of the proposal. Contact your member of Congress and let him or her know you support this proposal that will help create jobs for American workers.
E-2 Nonimmigrant Investor Adjustment Act of 2009 (Introduced in House)
HR 1162 IH
111th CONGRESS 1st Session
H. R. 1162
To amend the Immigration and Nationality Act to permit certain E-2 nonimmigrant investors to adjust status to lawful permanent resident status.
IN THE HOUSE OF REPRESENTATIVES February 24, 2009
Mr. PUTNAM (for himself and Mrs. MYRICK) introduced the following bill; which was referred to the Committee on the Judiciary
A BILL
To amend the Immigration and Nationality Act to permit certain E-2 nonimmigrant investors to adjust status to lawful permanent resident status.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the `E-2 Nonimmigrant Investor Adjustment Act of 2009'.
SEC. 2. ADJUSTMENT TO LAWFUL PERMANENT RESIDENT STATUS OF CERTAIN E-2 NONIMMIGRANT INVESTORS.
(a) In General- Section 203(b)(5) of the Immigration and Nationality Act (8 U.S.C. 1153(b)(5)) is amended--
(1) in subparagraph (A)(ii), by inserting `except as provided in subparagraph (E)(i)(II),' after `(ii)';
(2) in subparagraph (C)(i), by inserting `and subparagraph (E)(i)(I)' after `Except as provided in this subparagraph'; and
(3) by adding at the end the following new subparagraph:
`(E) SPECIAL RULES FOR CERTAIN E-2 NONIMMIGRANT INVESTORS-
`(i) IN GENERAL- In the case of an alien who has been present in the United States in the status of an alien described in section 101(a)(15)(E)(ii) for at least five years--
`(I) the amount of capital required under subparagraph (A) shall be $200,000; and
`(II) the alien is deemed as satisfying the requirement of subparagraph (A)(ii) if the enterprise has created full-time employment for not fewer than two individuals (or five individuals for each year after the third year in such status) described in such subparagraph (A)(ii).
`(ii) LIMITATION- Not more than 3,000 visas may be made available under this paragraph to principal aliens described in clause (i) in any fiscal year.'.
(b) Effective Date- The amendments made by subsection (a) shall take effect on the date of the enactment of this Act. Periods of presence in the United States in the status of an alien described in section 101(a)(15)(E)(ii) of the Immigration and Nationality Act (8 U.S.C. 1101(a)(15)(E)(ii)) before such date shall be counted towards satisfying the time requirement specified in subparagraph (E) of section 203(b)(5) of such Act (8 U.S.C. 1153(b)(5)) (as added by paragraph (3) of subsection (a)).
(c) Immediate Eligibility of Adjustment of Status of Certain Long-Term E-2 Nonimmigrant Investors- An alien who has been present in the United States as an E-2 nonimmigrant investor for at least five years may be immediately eligible to adjust status to that of an alien lawfully admitted for permanent residence pursuant to the amendment made by subsection (a).
# posted by Greg Siskind @ 8:34 PM
Friday, February 20, 2009
IDAHO PROGRAM SEEKS TO ATTRACT GLOBAL INVESTORS
The Boise Idaho Statesman and the AP both are reporting on a proposed regional center.
# posted by Greg Siskind @ 11:55 AM
USCIS WARNS ON EB-5 PARTIAL SUNSET
Sunset Date to Affect Regional Center Proposals Under the Immigrant Investor Pilot Program
Certain Form I-526 Petitions and Form I-485 Application Affected
WASHINGTON—U.S. Citizenship and Immigration Services (USCIS) reminds customers that the applicable provisions of immigration law concerning the EB-5 Immigrant Investor Pilot Program (Pilot Program) will “sunset” or expire at midnight on March 6, 2009. The sunset date affects all Regional Center Proposals and certain Forms I-526, Immigrant Petition for Alien Entrepreneurs and Forms I-485, Applications to Register Permanent Residence or Adjust Status, affiliated with Regional Centers relying on “indirect” job creation analyses. USCIS will continue to receive, process, and adjudicate as many Regional Center affiliated Forms I-526 and Forms I-485 as possible until the close of business on March 6, 2009, the scheduled sunset date.
The previous five-year extension of the Pilot Program was set to expire on October 1, 2008. However, on September 30, 2008, the fiscal 2009 continuing resolution bill entitled the "Consolidated Security, Disaster Assistance, and Continuing Appropriations Act, 2009," H.R. 2638, was signed into law which extended all government operations through March 6, 2009, including the EB-5 Pilot Program.
If the sunset date is not extended, affected Regional Center sponsors and certain Regional Center affiliated I-526 petitioners will not be able to benefit from indirect job creation under the sunsetting provisions as of March 7, 2009. No new Regional Center Proposals will be accepted as of March 7, 2009. All Forms I-526 received after March 6, 2009 must demonstrate that all ten jobs created will be direct, permanent, full-time (35 hours per week) jobs for qualified U.S. workers (U.S. Citizens, Lawful Permanent Residents, Refugees, Asylees, or persons granted cancellation of removal or suspension of deportation).
Unless the program is extended, USCIS will hold unadjudicated Regional Center proposals and Regional Center affiliated I-526 petitions that were received before the provisions sunset in abeyance for an indeterminate period of time pending further action by Congress. If Congress does not act to reauthorize the Pilot Program, final determinations will be made based on the evidence of “direct” job creation. The decisions will be made based either on the existing evidence of record or in response to a request for evidence, and denials will be issued for any pending Regional Center Proposals.
USCIS has not made a final determination whether it may approve Regional Center affiliated adjustment of status applications after the provisions sunset and it will hold these Form I-485 applications in abeyance pending a final determination or Congressional action. If the sunset provisions are extended, adjudication of the held cases will resume promptly. USCIS will provide further guidance to the public if legislation is enacted to extend the sunsetting provisions.
Forms I-829, Petition by Entrepreneur to Remove Conditions, whether affiliated with a Regional Center or not, will be unaffected by the sunset of these provisions of the Immigration and Nationality Act. For more information on USCIS and its programs, visit www.uscis.gov.
# posted by Greg Siskind @ 8:49 AM
Tuesday, February 3, 2009
ORLANDO EB-5 REGIONAL CENTER OPENS
The Orlando Sentinel reports on the new Lake Buena Vista Resort Village & Spa, the first project of a new EB-5 regional center in Central Florida. I had a chance to visit the resort where a recent conference on EB-5 investment visas was held. It's quite nice and in a great location. Incidentally, investors are buying a stake in the development company as opposed to simply purchasing real estate.
# posted by Greg Siskind @ 7:51 AM
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And USCIS has issued a press release outlining procedures for last minute filers (the program expires March 6th).
Congressman Adam Putnam (R-FL) has introduced a bill that would implement #8 of The Ten Ideas I had for using immigration to stimulate the US economy. I don't claim credit for the concept (the bill has actually been introduced in the past) and I happily endorse the plan as something that could provide a real boost to attract foreign capital to the country and help create an enormous number of jobs for American citizens.
The bill's relatively simple. It would create a new EB-5 category for E-2 investors who have been in the country for at least five years in E-2 status, have invested at least $200,000 and creates full time jobs.
Here's the text of the proposal. Contact your member of Congress and let him or her know you support this proposal that will help create jobs for American workers.
E-2 Nonimmigrant Investor Adjustment Act of 2009 (Introduced in House)
HR 1162 IH
To amend the Immigration and Nationality Act to permit certain E-2 nonimmigrant investors to adjust status to lawful permanent resident status.
February 24, 2009
Mr. PUTNAM (for himself and Mrs. MYRICK) introduced the following bill; which was referred to the Committee on the Judiciary
To amend the Immigration and Nationality Act to permit certain E-2 nonimmigrant investors to adjust status to lawful permanent resident status.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the `E-2 Nonimmigrant Investor Adjustment Act of 2009'.
SEC. 2. ADJUSTMENT TO LAWFUL PERMANENT RESIDENT STATUS OF CERTAIN E-2 NONIMMIGRANT INVESTORS.
(a) In General- Section 203(b)(5) of the Immigration and Nationality Act (8 U.S.C. 1153(b)(5)) is amended--
(1) in subparagraph (A)(ii), by inserting `except as provided in subparagraph (E)(i)(II),' after `(ii)';
(2) in subparagraph (C)(i), by inserting `and subparagraph (E)(i)(I)' after `Except as provided in this subparagraph'; and
(3) by adding at the end the following new subparagraph:
`(E) SPECIAL RULES FOR CERTAIN E-2 NONIMMIGRANT INVESTORS-
`(i) IN GENERAL- In the case of an alien who has been present in the United States in the status of an alien described in section 101(a)(15)(E)(ii) for at least five years--
`(I) the amount of capital required under subparagraph (A) shall be $200,000; and
`(II) the alien is deemed as satisfying the requirement of subparagraph (A)(ii) if the enterprise has created full-time employment for not fewer than two individuals (or five individuals for each year after the third year in such status) described in such subparagraph (A)(ii).
`(ii) LIMITATION- Not more than 3,000 visas may be made available under this paragraph to principal aliens described in clause (i) in any fiscal year.'.
(b) Effective Date- The amendments made by subsection (a) shall take effect on the date of the enactment of this Act. Periods of presence in the United States in the status of an alien described in section 101(a)(15)(E)(ii) of the Immigration and Nationality Act (8 U.S.C. 1101(a)(15)(E)(ii)) before such date shall be counted towards satisfying the time requirement specified in subparagraph (E) of section 203(b)(5) of such Act (8 U.S.C. 1153(b)(5)) (as added by paragraph (3) of subsection (a)).
(c) Immediate Eligibility of Adjustment of Status of Certain Long-Term E-2 Nonimmigrant Investors- An alien who has been present in the United States as an E-2 nonimmigrant investor for at least five years may be immediately eligible to adjust status to that of an alien lawfully admitted for permanent residence pursuant to the amendment made by subsection (a).
Friday, February 20, 2009
IDAHO PROGRAM SEEKS TO ATTRACT GLOBAL INVESTORS
The Boise Idaho Statesman and the AP both are reporting on a proposed regional center.
# posted by Greg Siskind @ 11:55 AM
USCIS WARNS ON EB-5 PARTIAL SUNSET
Sunset Date to Affect Regional Center Proposals Under the Immigrant Investor Pilot Program
Certain Form I-526 Petitions and Form I-485 Application Affected
WASHINGTON—U.S. Citizenship and Immigration Services (USCIS) reminds customers that the applicable provisions of immigration law concerning the EB-5 Immigrant Investor Pilot Program (Pilot Program) will “sunset” or expire at midnight on March 6, 2009. The sunset date affects all Regional Center Proposals and certain Forms I-526, Immigrant Petition for Alien Entrepreneurs and Forms I-485, Applications to Register Permanent Residence or Adjust Status, affiliated with Regional Centers relying on “indirect” job creation analyses. USCIS will continue to receive, process, and adjudicate as many Regional Center affiliated Forms I-526 and Forms I-485 as possible until the close of business on March 6, 2009, the scheduled sunset date.
The previous five-year extension of the Pilot Program was set to expire on October 1, 2008. However, on September 30, 2008, the fiscal 2009 continuing resolution bill entitled the "Consolidated Security, Disaster Assistance, and Continuing Appropriations Act, 2009," H.R. 2638, was signed into law which extended all government operations through March 6, 2009, including the EB-5 Pilot Program.
If the sunset date is not extended, affected Regional Center sponsors and certain Regional Center affiliated I-526 petitioners will not be able to benefit from indirect job creation under the sunsetting provisions as of March 7, 2009. No new Regional Center Proposals will be accepted as of March 7, 2009. All Forms I-526 received after March 6, 2009 must demonstrate that all ten jobs created will be direct, permanent, full-time (35 hours per week) jobs for qualified U.S. workers (U.S. Citizens, Lawful Permanent Residents, Refugees, Asylees, or persons granted cancellation of removal or suspension of deportation).
Unless the program is extended, USCIS will hold unadjudicated Regional Center proposals and Regional Center affiliated I-526 petitions that were received before the provisions sunset in abeyance for an indeterminate period of time pending further action by Congress. If Congress does not act to reauthorize the Pilot Program, final determinations will be made based on the evidence of “direct” job creation. The decisions will be made based either on the existing evidence of record or in response to a request for evidence, and denials will be issued for any pending Regional Center Proposals.
USCIS has not made a final determination whether it may approve Regional Center affiliated adjustment of status applications after the provisions sunset and it will hold these Form I-485 applications in abeyance pending a final determination or Congressional action. If the sunset provisions are extended, adjudication of the held cases will resume promptly. USCIS will provide further guidance to the public if legislation is enacted to extend the sunsetting provisions.
Forms I-829, Petition by Entrepreneur to Remove Conditions, whether affiliated with a Regional Center or not, will be unaffected by the sunset of these provisions of the Immigration and Nationality Act. For more information on USCIS and its programs, visit www.uscis.gov.
# posted by Greg Siskind @ 8:49 AM
Tuesday, February 3, 2009
ORLANDO EB-5 REGIONAL CENTER OPENS
The Orlando Sentinel reports on the new Lake Buena Vista Resort Village & Spa, the first project of a new EB-5 regional center in Central Florida. I had a chance to visit the resort where a recent conference on EB-5 investment visas was held. It's quite nice and in a great location. Incidentally, investors are buying a stake in the development company as opposed to simply purchasing real estate.
# posted by Greg Siskind @ 7:51 AM
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Sunset Date to Affect Regional Center Proposals Under the Immigrant Investor Pilot Program
Certain Form I-526 Petitions and Form I-485 Application Affected
WASHINGTON—U.S. Citizenship and Immigration Services (USCIS) reminds customers that the applicable provisions of immigration law concerning the EB-5 Immigrant Investor Pilot Program (Pilot Program) will “sunset” or expire at midnight on March 6, 2009.The sunset date affects all Regional Center Proposals and certain Forms I-526, Immigrant Petition for Alien Entrepreneurs and Forms I-485, Applications to Register Permanent Residence or Adjust Status, affiliated with Regional Centers relying on “indirect” job creation analyses. USCIS will continue to receive, process, and adjudicate as many
The previous five-year extension of the Pilot Program was set to expire on October 1, 2008. However, on September 30, 2008, the fiscal 2009 continuing resolution bill entitled the "Consolidated Security, Disaster Assistance, and Continuing Appropriations Act, 2009," H.R. 2638, was signed into law which extended all government operations through March 6, 2009, including the EB-5 Pilot Program.
If the sunset date is not extended, affected
Unless the program is extended, USCIS will hold unadjudicated
USCIS has not made a final determination whether it may approve
Forms I-829, Petition by Entrepreneur to Remove Conditions, whether affiliated with a
Tuesday, February 3, 2009
ORLANDO EB-5 REGIONAL CENTER OPENS
The Orlando Sentinel reports on the new Lake Buena Vista Resort Village & Spa, the first project of a new EB-5 regional center in Central Florida. I had a chance to visit the resort where a recent conference on EB-5 investment visas was held. It's quite nice and in a great location. Incidentally, investors are buying a stake in the development company as opposed to simply purchasing real estate.
# posted by Greg Siskind @ 7:51 AM
XML newsfeed
archives
December 2007
March 2008
July 2008
January 2009
February 2009
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April 2009
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