Sunday, March 30, 2014
Chinese Applicants Dominating EB-5 Applicant Pool
CNN Money reports on the popularity of the EB-5 program with Chinese nationals and the possibility that backlogs could soon develop for people from that country. 80% of EB-5 green cards are now going to Chinese nationals. As long as the program doesn't fill up, that's not a problem, but if the overall demand increases and there are more applications than the annual 10,000 allotment, China could start to see the kind of backlogs they face in a number of other employment-based green card categories.
# posted by Greg Siskind @ 5:33 PM
Friday, March 7, 2014
Polis Introduces EB-5 Bill in House
Congressman Jared Polis (D-CO) introduced EB-5 reform legislation this week called the American Entrepreneurship and Investment Act of 2014 which reforms the EB-5 program. Here are the highlights:
Here are a few highlights -
1. Permanent re-authorization of the EB-5 program (it expires in September 2015).
2. Adds closed military bases to Targeted Employment Areas.
3. Minimum investments will change based on inflation.
4. Full-time jobs would include part time workers working at least 35 hours per week.
5. Would establish pre-approval process for specific projects.
6. USCIS would need to give deference to prior findings.
7. Mandates USCIS establish a premium processing program for EB-5s.
8. USCIS must give deference to prior decisions.
9. Provides age-out protections for children of EB-5 investors.
10. Allows for concurrent filing of I-526s and adjustment applications.
11. Creates a new national interest waiver green card category for entrepreneurs who have benefited the US economy and created jobs for US workers.
12. Immediate family members are not subject to the EB-5 category cap.
13. Eliminates per country quotas (mainly an issue right now for Chinese nationals).
14. Allows USCIS to consult with the Department of Commerce in approving regional centers.
# posted by Greg Siskind @ 11:46 AM
EB-5 Category Expected to Remain Current for Chinese Nationals For Next Few Months
The American Immigration Lawyers Association is reporting that DOS official Charles Oppenheim, Chief of Immigrant Control & Reporting (the individual who is responsible for producing the State Department Visa Bulletin), does not believe the EB-5 investor green card category will retrogress in the next few months for Chinese nationals as many have feared. He will be providing the next update this summer. Many fear that the end of the Canadian investor program which was mainly used by Chinese investors will mean that the EB-5 program will be flooded by Chinese applications. If that happens, per country limits may kick in for Chinese nationals and backlogs would result.
# posted by Greg Siskind @ 6:47 AM
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# posted by Greg Siskind @ 5:33 PM
Congressman Jared Polis (D-CO) introduced EB-5 reform legislation this week called the American Entrepreneurship and Investment Act of 2014 which reforms the EB-5 program. Here are the highlights:
Here are a few highlights -
1. Permanent re-authorization of the EB-5 program (it expires in September 2015).
2. Adds closed military bases to Targeted Employment Areas.
3. Minimum investments will change based on inflation.
4. Full-time jobs would include part time workers working at least 35 hours per week.
5. Would establish pre-approval process for specific projects.
6. USCIS would need to give deference to prior findings.
7. Mandates USCIS establish a premium processing program for EB-5s.
8. USCIS must give deference to prior decisions.
9. Provides age-out protections for children of EB-5 investors.
10. Allows for concurrent filing of I-526s and adjustment applications.
11. Creates a new national interest waiver green card category for entrepreneurs who have benefited the US economy and created jobs for US workers.
12. Immediate family members are not subject to the EB-5 category cap.
13. Eliminates per country quotas (mainly an issue right now for Chinese nationals).
14. Allows USCIS to consult with the Department of Commerce in approving regional centers.
Here are a few highlights -
1. Permanent re-authorization of the EB-5 program (it expires in September 2015).
2. Adds closed military bases to Targeted Employment Areas.
3. Minimum investments will change based on inflation.
4. Full-time jobs would include part time workers working at least 35 hours per week.
5. Would establish pre-approval process for specific projects.
6. USCIS would need to give deference to prior findings.
7. Mandates USCIS establish a premium processing program for EB-5s.
8. USCIS must give deference to prior decisions.
9. Provides age-out protections for children of EB-5 investors.
10. Allows for concurrent filing of I-526s and adjustment applications.
11. Creates a new national interest waiver green card category for entrepreneurs who have benefited the US economy and created jobs for US workers.
12. Immediate family members are not subject to the EB-5 category cap.
13. Eliminates per country quotas (mainly an issue right now for Chinese nationals).
14. Allows USCIS to consult with the Department of Commerce in approving regional centers.
# posted by Greg Siskind @ 11:46 AM
EB-5 Category Expected to Remain Current for Chinese Nationals For Next Few Months
The American Immigration Lawyers Association is reporting that DOS official Charles Oppenheim, Chief of Immigrant Control & Reporting (the individual who is responsible for producing the State Department Visa Bulletin), does not believe the EB-5 investor green card category will retrogress in the next few months for Chinese nationals as many have feared. He will be providing the next update this summer. Many fear that the end of the Canadian investor program which was mainly used by Chinese investors will mean that the EB-5 program will be flooded by Chinese applications. If that happens, per country limits may kick in for Chinese nationals and backlogs would result.
# posted by Greg Siskind @ 6:47 AM
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# posted by Greg Siskind @ 6:47 AM
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