The EB-5 Investor Immigration Blog

CNN Reports on EB-5 Program

2012-01-02T17:20:00.000-08:00

CNN has a report this week that provides a general introduction to the EB-5 program using the Jay Peak ski resort project in Vermont as an example. The reporter interviews a variety of people including the project developer, immigrants who successfully procured green cards through their investments, workers who found jobs as a result as well as one prominent critic of the program who thinks the investment threshold is too low and that the money should go to the US government rather than to private sector investments.

NY Times Report Questions NY State Designations of Targeted Employment Areas

2011-12-19T07:09:00.000-08:00

A NY Times cover story has questioned the unemployment rate calculations that have allowed regional centers in New York City to qualify to accept investors at the $500,000 level reserved for high unemployment areas rather than the default $1,000,000 investment requirement. The report looked at a few projects in Manhattan and Brooklyn in seemingly affluent areas that appear to have lower than average unemployment rates as opposed to the 150% of national unemployment rate required to qualify for accepting smaller investments. The focus of the story seemed to be more on the state government agency that must approve an area as opposed to the regional centers themselves. State government officials contacted for the story claimed to be following federal guidelines and USCIS Director Alejandro Mayorkas, contacted for the story, indicated that the agency might need to more closely scrutinize how Targeted Employment Areas are determined.

Regional Center Approval Means Investor Money Could Flow to Oregon

2011-12-17T21:14:00.000-08:00

The Portland Business Journal reports.

Editorial Praises EB-5 Program

2011-12-13T13:04:00.000-08:00

The Fort Lauderdale Sun Sentinel has published an editorial in favor of streamlining and expanding the EB-5 program as a way to increase Latin American investment in South Florida.

Seattle Times Profiles EB-5 Chinese Investors

2011-12-12T20:48:00.000-08:00

A discussion of the use of EB-5 funds to finance replacement of a floating highway bridge in Washington State.

USCIS Posts Q & A on Form I-924A

2011-12-09T12:14:00.000-08:00

This is the annual form submitted by EB-5 regional centers reporting information on the regional centers activities, investments received and job creation.

USCIS Issues Notice of Extension of Comment Period on Extending Validity of Form I-526

2011-11-16T13:50:00.000-08:00

For the technical wonks out there, here's where you need to go to offer your views.

Regional Center Status Pulled for California Program

2011-10-09T19:20:00.000-07:00

The AP reports that an EB-5 program in El Monte, California has been shut down by USCIS.

VSC EXPLAINS VIBE UPDATES

2011-09-19T15:00:00.000-07:00

USCIS has been using the VIBE system (Validation Instrument for Business Enterprises) pilot program in most I-129 filings, including H-1B petitions. VIBE is of course a new method for USCIS officers to verify petitioner information in adjudicating employment-based petitions. The program gives immigration officers access to information about the petitioning company from Dunn & Bradstreet ("D&B"), which is a private company which specializes in providing credit reporting and other information about companies. Obviously many companies, especially small and midsize companies are concerned that there may be inaccurate information in D&B, which has caused USCIS to issue onerous requests for evidences (RFEs) to small companies.
Most companies have no reason to update their D&B information, especially if they do not borrow money from banks or apply for credit lines at banks or with vendors.
In some cases, especially when we had repeat VIBE RFEs for companies, we suggested to our clients to update their D&B information before filing H-1B petitions with USCIS. This is fine, but the company has to first obtain a D-U-N-S number from D&B, which either takes 30 days to obtain or can be done faster for another payment of $299 to D&B.
VSC has indicated last week that its database is updated when contradictory information gets resolved between the information in D&B/VIBE and the information a petitioner provides.
VSC has also said that VIBE RFEs indicate that petitioners may wish to update their information in the D&B database. Given that D&B is a commercial database, there is a very real concern that information offered by petitioners to D&B may be sold or otherwise misused by D&B for commercial gain. VSC also cannot guarantee the privacy of that information. Therefore, VSC recommended that petitioners be careful in deciding whether to update their information in the D&B database given that it is not mandatory. The D&B database also offers an expedited process for updating the database by paying an extra fee. However VSC said that it does not lead to the USCIS databases being updated any quicker, so VSC acknowledged that the D&B expedite fee is not warranted.

Central Indiana Gets EB-5 Program

2011-09-15T13:06:00.000-07:00

From the Anderson, Indiana Herald-Bulletin:

After 18 months in the making, a new program has been approved that hopes to bring more foreign investment dollars into Madison and other counties in east central Indiana.

The United States Citizenship and Immigration Services recently certified Energize-East Central Indiana’s efforts to create a new regional visa center.

Known as the EB-5 immigrant investor program, the center would allow foreign investors an easier path to U.S. citizenship.

Rob Sparks, executive director of the Madison County Corporation for Economic Development, said the new center would be “another tool in the toolbox for new investors” in the region.

USCIS Announces EB-5 Program Improvements

2011-05-19T11:46:00.000-07:00

From USCIS Director Alejandro Mayorkas:

As many of you know, we at U.S. Citizenship and Immigration Services (USCIS) are reviewing our policies and practices to ensure our careful and thoughtful administration of our nation’s immigration laws. A hallmark of our review is our engagement with you; your ideas and comments inform our decisions as we strive to implement the best ideas.

Through our review, your input, and other analysis, we have identified needed improvements to a wide array of policies and practices. Some of these improvements have been implemented and many are to follow. We look forward to your feedback as we make continued progress on these improvements.

As part of our broad review, and echoing President Obama’s call to promote immigrants’ entrepreneurial spirit, we have focused on the Immigrant Investor Program, commonly referred to as the EB-5 Program. It is a program designed to attract investors and entrepreneurs from around the world to create jobs in America. In the two decades since its creation, the EB-5 Program has never met the annual cap of 10,000 visas.

The EB-5 Program often involves complex applications and sophisticated business projects that require prompt attention and expert review in order to achieve their potential. Our focus on this program, and the input you have provided, has led us to propose a series of significant improvements to it. These changes include an accelerated adjudications process, with premium processing; the creation of specialized intake teams to handle the Form I-924 applications, coupled with the applicants’ ability to communicate directly with the specialized intake teams via email; and, the creation of an expert Decision Board to render decisions on the applications and to afford applicants with an in-person or telephonic interview to resolve issues.

In keeping with our commitment to soliciting your ideas and input, we have posted the proposal for public comment on the Operational Proposals for Comment page. We will accept your comments at opefeedback@uscis.dhs.gov for 20 business days, until June 17, 2011.

VICTORVILLE REGIONAL CENTER ORDERED OUT OF EB-5 PROGRAM

2010-11-09T10:15:00.000-08:00

This is a first, according to EB5Info.com:

For the first time ever, USCIS has shut down an operational EB5 regional center.

On October 20, the federal government sent a final letter informing the Victorville Regional Center that it was pulling the plug on the regional center's ability to participate in the EB5 immigrant investor program. This comes after at least two other letters from USCIS to officials at the regional center detailing concerns over job creation methodology Victorville was using to justify its EB5 visa projects.

Approved by USCIS on June 19, 2009, Victorville received from the feds an unprecedented "Notice of Intent to Terminate" in May of this year. Among USCIS' chief concerns were changes made to the business plan for one of Victorville's projects, a wastewater treatment facility that would service a nearby Dr. Pepper-Snapple bottling plant.

Other EB5 visa projects in Victorville's pipeline also caused skepticism among USCIS officials, most notably construction of a power plant for which the city of Victorville defaulted on needed equipment costs and a railroad project that never came to fruition.

EB-5 FUNDS TO BRING GROCERY STORE TO POOR DC NEIGHBORHOOD

2010-08-16T20:11:00.000-07:00

The Washington Post reports.

SHOULD THE EB-5 PROGRAM BE MOVED TO THE DEPARTMENT OF COMMERCE?

2010-06-22T15:13:00.001-07:00

That's what many pundits are arguing according to my friend and fellow immigration lawyer Ron Klasko.

CNBC: EB-5 PROGRAM AN ATTRACTIVE GREEN CARD OPTION

2010-05-28T16:16:00.000-07:00

The article is here.

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2010-04-28T08:07:00.001-07:00

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START UP VISA SEEN AS HELPING SW FLORIDA

2010-03-13T14:28:00.001-08:00

Coverage of how this proposal could benefit that community.

NATIONAL PUBLIC RADIO EXAMINES THE EB-5 PROGRAM

2010-03-08T06:26:00.000-08:00

Here is the link.

MEXICAN INVESTORS PURSUING US VISAS

2010-03-02T16:34:00.001-08:00

The Christian Science Monitor reports that entrepreneurs from Mexico are taking advantage of NAFTA's E-1 and E-2 treaty investor/trader provisions.

BIPARTISAN INVESTOR VISA BILL INTRODUCED

2010-02-25T07:52:00.000-08:00

Senators Richard Lugar (R-IN) and John Kerry (D-MA) have introduced the StartUp Visa Act of 2010. According to Senator Lugar's office:

Senators John Kerry (D-Mass.) and Richard Lugar (R-Ind.), the Chairman and Ranking Member of the Senate Foreign Relations Committee, today introduced legislation to drive job creation and increase America’s global competiveness by helping immigrant entrepreneurs secure visas to the United States.

The StartUp Visa Act of 2010 will allow an immigrant entrepreneur to receive a two year visa if he or she can show that a qualified U.S. investor is willing to dedicate a significant sum – a minimum of $250,000 – to the immigrant’s startup venture.

“Global competition for talent and investment grows more intense daily and the United States must step up or be left behind,” said Sen. Kerry. “Everywhere Dick Lugar and I travel for the Foreign Relations Committee, we see firsthand the entrepreneurial spirit driving the economies of our competitors. Creating a new magnet for innovations and innovators to come to the United States and create jobs here will offer our economy a double shot in the arm – robust job creation at home and reaffirmation that we’re the world’s best place to do business.”

“Our country should strive to attract to the United States the most talented and highly skilled entrepreneurs. We should channel the power of innovative thinkers from around the world and American investors towards creating jobs and encouraging economic growth and future prosperity,” said Ranking Member Lugar.

The StartUp Visa Act of 2010 would amend immigration law to create a new EB-6 category for immigrant entrepreneurs, drawing from existing visas under the EB-5 category, which permits foreign nationals who invest at least $1 million into the U.S., and thereby create ten jobs, to obtain a green card. After proving that he or she has secured initial investment capital and if, after two years, the immigrant entrepreneur can show that he or she has generated at least five full-time jobs in the United States, attracted $1 million in additional investment capital or achieved $1 million in revenue, then he or she would receive permanent legal resident status.

More than 160 venture capitalists from across the country have endorsed the senators’ proposal. That letter of support is attached.

MEXICANS INCREASINGLY PURSUING INVESTOR VISAS

2010-02-22T21:16:00.000-08:00

The Houston Chronicle reports.

INFLEXIBLE E-2 VISA CAUSES HEADACHES FOR BRITISH FAMILY

2010-02-21T14:15:00.000-08:00

The St. Petersburg Times reports on a fairly typical, but very tough issue facing many on the E-2 visa. The lack of a permanent residency conversion option and the fact that children lose their status as soon as they turn 21.

EB-5 INVESTORS TO FUND SEATTLE SKYSCRAPER

2010-02-20T20:46:00.000-08:00

The new Federal Way Regional Center is embarking on an ambitious project. From the Seattle Post-Intelligencer:

Developers plan to build a 45-story hotel and condo tower in the Seattle suburb of Federal Way where the tallest building now is only nine stories.
The Seattle Daily Journal of Commerce reports the Twin Development company plans a $235 million building that could open in four years.

Seattle developer Steve Smith is counting on Korean and other foreign investors to fund most of the project through the EB-5 Immigrant Investor program, which grants foreigners permanent resident status in exchange for investing in projects like the Sky Hotel and Residence.

Investors will likely have to shell out $1 million or more to get green cards for themselves and their immediate families. The investment is likely to go into a condo or two.

LAKE BUENA VISTA REGIONAL CENTER APPROVED FOR LOWER INVESTMENTS

2010-02-14T22:29:00.000-08:00

I've received information from the Lake Buena Vista Regional Center in Orlando that the resort-based EB-5 investment has been approved for $500,000 investments. Previously, they were only able to accept $1,000,000 investments.

GREEN CARDS FOR GREEN CARS

2010-02-13T17:37:00.000-08:00

The New York Times reports on Chinese investors pumping money in to the EB-5 regional center supporting Kinetic Hybrid Motors, Chinese-owned hybrid car manufacturer setting up operations in Mississippi.

E-2 INVESTOR VISA BECOMING POPULAR CHOICE FOR MEXICANS

2010-02-07T20:12:00.000-08:00

Mexican nationals fleeing violence in their country are finding the E-2 investor visa an option for quickly coming to the US, according to an article in the Latin America News Dispatch.

ST. LOUIS SEEKING EB-5 REGIONAL CENTER DESIGNATION

2010-01-31T21:00:00.000-08:00

St. Louis, Missouri is seeking status as an EB-5 regional center, according to a report in the St. Louis Post-Dispatch. The application seeks to gain such designation for an area covering St. Louis and neighboring St. Charles counties.

PALM BEACH REGIONAL CENTER LAUNCHES

2010-01-18T22:30:00.001-08:00

Just got the announcement about the new EB-5 regional center:

January 11, 2010

Dear Colleague,

Palm Beach Regional Center EB-5 Projects: Investment Opportunities for your Clients

Palm Beach Regional Center is pleased to announce the launch of its EB-5 Program. Three exciting projects are now inviting subscriptions from potential investors.

The Palm Beach Regional Center is operated by Palm Beach Investment and Finance. It was established in 2008 with the intent of developing local industries, creating jobs and economic growth for the region, and helping promote the region to the international community.

The Palm Beach Regional Center handles a variety of projects that showcase and benefit from the region's strength as an international gateway to the western hemisphere.

Palm Beach County is a great place for your Clients to discover the wealth of opportunity that exists in the United States. Here in the center of the Western Hemisphere is a blossoming international business capital, already recognized for its magnificent climate, gorgeous beaches and golf courses, as well as its famous real estate.

The region is blessed with numerous high-growth industries, such as Bio-science, Agri-Bio, Aviation, Aerospace, Alternative Energy, High Tech, Marine-Marine Technology, and Water-Water Technology. Palm Beach County's rich multiculturalism makes it a comfortable destination for tourists and business people from all over the world. As the region evolves into a true global gateway, a bounty of opportunity is constantly emerging.

EB-5 PROJECT SHOWCASE: MODUL-X

An exciting combination of cutting-edge materials and engineering technology, Modul-X produces and sells Ultra High Strength Concrete (UHSC) panels used to construct extremely durable and secure modular structures. These custom-built security structures offer the greatest possible protection for high-value targets such as pipeline and telecommunications support facilities, to military and police command and control centers, outposts and strong-rooms protecting people and property. Clients include military, government and corporate entities worldwide with serious security issues that need specialized, custom solutions.

The proprietary manufacturing process is the key to these patented products, and it has been evaluated by Wackenhut Security at US-based world class testing facilities, as well as receiving real-world exposure to foreign military ballistic and blast firepower, with results exceeding all expectations. The unique modular design of Modul-X panels provides an unsurpassed degree of customization, allowing for a wide variety of configurations with easy construction and adaptation.

Opportunity Overview

Modul-X Solutions, LLC plans to lease a building that will house the manufacturing, shipping, and office functions of the company, and will employ 49 people.

Based on the employment multipliers for Palm Beach County, there will be 33 indirect new jobs and 29 induced new jobs. When added to the 49 permanent new direct jobs, that will be a total of 111 permanent new jobs created.

PBRC is inviting subscriptions from 10 investors, each investing $500,000 as the business is located within a Targeted Employment Area.

EB-5 PROJECT SHOWCASE: TRU BAMBOO

With materials that can grow as fast as consumer demand, TruBamboo is already making a name for itself with its innovative products. The Tru Bamboo Company distributes kitchen utensils, cutting boards and other house-ware products made from bamboo in China. Tru Bamboo's products are currently sold at leading retail chains and supermarkets, under brands targeted at various market levels.

Bamboo is very durable, and grows extremely fast. Certain types of bamboo can grow up to 6' per day, and 75% of bamboo harvested in a given year is able to grow back within one year. Because bamboo grows so quickly, it is considered an environmentally-friendly material, and as such, consumer interest in bamboo products is growing.

Tru Bamboo is currently operating and planning to expand to 28 direct jobs, thanks to new marketing direction better geared toward promoting the environmental benefits of bamboo to conscientious consumers.

Opportunity Overview

This expansion is expected to allow the company to manage its growth into existing markets by increasing the company's local warehousing, administrative, product development and sales & marketing staff. Together with indirect and induced job creation, this project will be able to accommodate 4 investors, each investing $500,000 as the business is located within a Targeted Employment Area.

EB-5 PROJECT SHOWCASE: COMPLETE ENERGY SYSTEMS

Looking ahead to a bright future, Complete Energy Systems, LLC (CES) is helping to bring renewable energy to Palm Beach County in the form of solar panels. CES assembles and markets these panels and panel packages, and works with local companies in Palm Beach County to install them.

CES is supported by two wholly owned subsidiaries: Atlantic Solar, which assembles solar panel packages, and Green World Systems, which provides marketing services for complete alternative energy packages.

CES takes a very progressive approach to solar system deployment by making the most out of cutting-edge solar technology efficiency while reducing its environmental impact. Through education, and the establishment of standards for training and certification in the installation and maintenance of alternative and renewable energy systems, CES strives to create a lasting impact upon the alternative energy market.

Opportunity Overview

With the mounting interest in renewable energy, solar energy is rapidly becoming one of South Florida's most promising growth industries. This is a natural fit for Florida, with its abundant sunshine and substantial energy needs. Recently Florida Power & Light (FPL) announced the building of a 75-megawatt solar plant in Fort Myers, creating the world's first "solar city," and bringing South Florida into the forefront of the "renewable energy revolution."

CES, with its progressive and innovative approach to solar energy, is poised to take a leading role in defining Florida's role in this market, both regionally and ultimately internationally.

As it grows, CES intends to open training centers and implement solar energy certification. With increased business CES will expand its market and ship panels to customers and locations overseas.

Job Creation

By the second year of operation, CES projects that there will be 113 direct new jobs at Atlantic

Based upon economic multipliers, direct, indirect and induced jobs will amount a total of 459.

Located in a Targeted Employment Area, this project will be inviting subscriptions at the reduced investment amount of $500,000 from 30 suitably qualified investors.

The Palm Beach Regional Center presents an opportunity to consider investment in a variety of different projects. These projects are carefully vetted and selected upon the basis of their ability to meet stringent criteria while meeting EB-5 standards in creating employment.

More information may be found at the website: www.palmbeachregionalcenter.com or you can email me directly and I will happily send you additional information about investor opportunities.

Sincerely,
Alfred Zucaro
Managing Member 
EB-5 Regional Center Administration
Palm Beach Investment and Finance, LLC
4300 Main Street, Jupiter, Florida 33458 
Ph:   (561) 644-1665  
Email: azucaro@palmbeachinvestmentandfinance.com  
http://www.palmbeachregionalcenter.com
http://www.palmbeachinvestmentandfinance.com

EB-5 APPLICATIONS TRIPLE OVER LAST YEAR

2010-01-11T21:57:00.000-08:00

The Washington Post reports on cash-strapped businesses using the EB-5 program to attract desperately needed capital.

Forbes is also running a similar story this week.

EB-5 INVESTORS IN SD REGIONAL CENTER SUE DAIRY FARM

2010-01-03T22:33:00.000-08:00

The Argus (SD) Leader reports:

Four Korean investors in a Clark County dairy farm are suing their business partners after the venture failed.

Yoon Soo Min, Jeong Seon Park, Yong Nan Park and Jae Moon Chung each invested $500,000 in the Willow Lake farm in an attempt to gain permanent U.S. resident status under the government's EB-5 program. Rodney Winter, formerly of Washington, agreed to relocate to South Dakota to establish the farm.

But according to a complaint filed this month in U.S. District Court in Sioux Falls, Winter and his family broke their contract by failing to invest $500,000 in cash and by titling the farm in such a way that left out the Korean investors.

When the Winters failed to make bank loan payments and lost the farm, the investors say they were unable to claim the property.

ILLINOIS SPORTS COMPLEX SEEKING EB-5 INVESTORS

2009-12-28T07:53:00.000-08:00

A Lakewood, Illinois developer is seeking federal stimulus dollars as well as EB-5 investors to help fund a 200 acre sports complex featuring a 125,000 building. From the Lakewood Herald:

The business plan states that the facility will create 420 permanent jobs, bring in 600,000 visitors a year, and make $15 million in its first year. Its business model is not reliant on rental – it will own the leagues and create revenue through attendance and merchandising.

McHenry County received $27.5 million in federal bonding authority for private projects under the $789 billion American Reinvestment and Recovery Act. The bonds are meant to encourage lending for shovel-ready projects by giving investors a 45 percent refund of the federal taxes payable on them.

The full County Board must approve the request, which it likely will do at its next meeting Jan. 5.

The other funding source will come from a federal financing program called employment based fifth preference, or EB-5. The program, created in 1990, offers foreign investors who create or save jobs permanent resident status.

Joining Tenore at Tuesday's meeting were the two investment banking firms who are going to underwrite the stimulus bonds and the EB-5 investment

CHINESE INVESTOR SEEKING EB-5 GREEN CARDS

2009-12-28T07:42:00.000-08:00

An American and Chinese news agency each report this week on increasing numbers of Chinese investors seeking EB-5 investor green cards.

MPI: RECESSION BREATHES NEW LIFE IN TO EB-5 PROGRAM

2009-12-19T22:20:00.000-08:00

The Migration Policy Institute has issued a paper discussing the surge in EB-5 interest this year as companies struggle to find capital to fund major projects.

NEW ORLEANS REGIONAL CENTER TO INVEST IN NEW HOTEL PROJECT

2009-12-19T21:05:00.001-08:00

New Orleans City Business reports that the NobleOutreach EB-5 regional center is raising $7 million for a new hotel project in the Algiers neighborhood.

VERMONT HOPING KOREAN BIOTECH FIRM LEVERAGES EB-5 PROGRAM

2009-12-12T15:05:00.001-08:00

Officials in Newport, Vermont are hoping that the state's EB-5 regional center status will help the town attract ANC Bio to set up a plant in the community.

MISSISSIPPI HYBRID CAR PLANT PLANNING ON USING EB-5 TO HELP WITH FUNDING

2009-12-12T14:57:00.000-08:00

The Memphis Daily News reports on the project in Tunica, Mississippi being developed by Chinese firm GreenTech. The company is seeking EB-5 regional center status to help with raising capital.

DAYTON, KY SEEKING EB-5 REGIONAL CENTER STATUS

2009-12-12T14:33:00.000-08:00

Dayton, Kentucky, on the other side of the Ohio River facing Cincinnati, is in the middle of a $1 billion redevelopment project for its riverfront and is seeking EB-5 regional center status in order to help in raising funds for the project.

REGIONAL CENTER APPROVED IN IDAHO

2009-12-02T19:08:00.000-08:00

Invest Idaho LLC (known as I-Cubed) hopes to attract $50,000,000 in investor funds to fund start up ventures.

TIME FOR A FOUNDERS' VISA?

2009-12-02T10:05:00.000-08:00

Vivek Wadhwa has a cool new proposal for a visa targeted toward entrepreneurs with great ideas and start up capital to launch new enterprises. Here's some of what he writes in Businessweek:

Here's how it would work. Suppose a talented engineer who is not a U.S. citizen has a great idea for a new type of search engine and wants to start a company. This entrepreneur wants to start that company in the U.S., where venture capital markets are the most mature, intellectual property laws are strong, and the talent level is high. It turns out that the would-be founder's search engine idea is actually very good. So a qualified U.S. investor decides to put real money—say, $250,000 to $500,000—into the startup. That investor could nominate the potential founder for a Founders Visa while also making a formal commitment to fund his or her company.
The idea and the founder's résumé would then need to pass muster with a government or industry-appointed board of venture capitalists, financiers, or technology experts. After passing, the founder would be granted a permanent resident visa.

To open up visa slots, Ries, Feld and others propose altering an existing visa known as the EB-5, now for immigrant investors. Created by the Immigration Act of 1990, the EB-5 lets foreign nationals who invest at least $1 million in the U.S., and thereby create 10 jobs, obtain a green card. In areas where unemployment is high, foreign nationals need only invest $500,000 to obtain residency. By adding a Founders Visa provision such as that I have outlined to the EB-5 visa, we could avoid having to create a new class of visas and any political hassles this might entail.

Democratic Congressman Jared Polis and arch-conservative Republican Newt Gingrich are two politicians championing the idea. Hopefully, some of the folks drafting the immigration reform bill in Congress will take note.

DALLAS REGIONAL CENTER OPEN FOR BUSINESS

2009-11-30T13:18:00.001-08:00

The Dallas Morning News writes about the the debut of the newest Texas EB-5 regional center. The program is run by Dallas' city government and will focus on real estate development projects in distressed areas in downtown and southern Dallas. The city hopes to generate $50 million in 2010 and $150 by 2011.

EB-5 REGIONAL CENTER DATABASE IS LIVE

2009-11-29T20:28:00.000-08:00

My friend Michael Gibson has put together an excellent web site linking to all of the approved EB-5 regional centers around the US. This is an excellent resource that will definitely be a major help to lawyers and investors alike.

HUDSON VALLLEY PAPER CALLS FOR REGIONAL CENTER DESIGNATION

2009-11-27T22:17:00.000-08:00

The News Journal in Westchester County, NY is calling on the community to get EB-5 regional center designation status in order to help with its fiscal woes.

EB-5 NEWS ROUNDUP

2009-11-27T22:10:00.000-08:00

Boston businessman selling restaurant to EB-5 investor - Irish Central

Regional Center program extended for three years - PRWeb

Green Cards build navy yard - Crain's

USCIS ADJUDICATION PROBLEMS HOLD BACK EB-5 PROGRAM

2009-11-12T04:16:00.000-08:00

The Los Angeles Daily Journal reports on the EB-5 program's troubled past. The big complaint is that USCIS seems bent on finding problems in applications and dragging cases out for years. Congress is considering legislation to clarify a lot of issues and the bill's passage could dramatically improve processing.

[Hat tip to Dan Kowalski at Bender's Immigration Bulletin for the link]

VERMONT GOVERNOR REPORTS SUCCESS IN EB-5 ASIA PROMOTION TRIP

2009-11-07T09:05:00.000-08:00

The Montpelier Times Argus reports that Vermont Governor James Douglas had success in his recent trip to Asia to promote the state's EB-5 program to potential investors.

WCAX in Vermont is reporting that the trip could result in hundreds of jobs for the state.

VERMONT REGIONAL CENTER ADDING MEDICAL PROJECT TO LIST

2009-10-30T12:35:00.000-07:00

The Vermont EB-5 Regional Center Project is adding AnC Bio VT LLC, a medical manufacturing company, to its mix of investment projects. The project is expected to cost $50 million and create 200 jobs. The opening of the plant is expected in 2011. The EB-5 regional center program is largely known for the Jay Peak ski resort.

WASHINGTON STATE RESORT PROJECT SEEKING EB-5 REGIONAL CENTER STATUS

2009-10-30T12:31:00.000-07:00

A 252 acre resort and golf course in the state of Washington is in the works and the developers are seeking EB-5 regional center status in order to attract investors.

PRESIDENT SIGNS EB-5 REGIONAL CENTER EXTENSION LEGISLATION

2009-10-30T12:26:00.000-07:00

It's official. The EB-5 regional center program has been extended by three years until 2012. No changes yet to the program.

EUROPEANS UTILIZING EB-5 PROGRAM TO RETIRE IN FLORIDA

2009-10-16T12:20:00.000-07:00

The Sarasota Herald-Tribune reports.

EB-5 PROGRAM TO BE EXTENDED FOR THREE YEARS

2009-10-12T06:23:00.001-07:00

House and Senate conferees have come to agreement on the extension of various immigration programs and have settled on a three year extension for the EB-5, Conrad 30 doctors, religious workers and E-verify program. The extension provisions will be included in the DHS spending bill expected to be signed by the President in the near future.

COLORADO CONGRESSMAN SEEKS TO IMPROVE EB-5 PROGRAM

2009-10-12T06:17:00.000-07:00

Portfolio.com reports that Colorado freshman Democrat Jared Polis is proposing a bill that would modify the job requirements requirement of the EB-5 program. Investors at the $1,000,000 level could meet the program requirements with five jobs created as long as the investment is made through a venture capital fund or through investors with at least $10,000,000 invested in other businesses.

DALLAS HOME TO NEW EB-5 REGIONAL CENTER

2009-10-12T06:11:00.000-07:00

The Dallas Observer reports that the Texas city is now the home to a new EB-5 regional center:

In the press release, Economic Development Committee chair Ron Natinsky says the creation of the City of Dallas Regional Center "provides us with a powerful incentive in our efforts to attract foreign investment. The program is structured specifically to attract high net worth investors to the CDRC; and focus their capital on projects that generate real permanent jobs and growth for Dallas." Among the possible uses for the foreign dough, per the release: "transit-oriented development, instrument manufacturing, distribution and logistics, entertainment venues, hospitality, healthcare and medical research and 'green' development."

ALABAMA CAR PLANT WILL BE FUNDED THROUGH EB-5 INVESTORS

2009-10-12T06:06:00.000-07:00

Alabama is the home to a number of auto plants and now eco-auto builder Hybrid Kinetic Motors, a Chinese company, will call the state home to its US manufacturing operations. The company will also be one of the first auto maker to seek EB-5 investors. Another Chinese hybrid automaker is working on a similar project in neighboring Mississippi.

NEW EB-5 REGIONAL CENTERS APPROVED

2009-10-03T11:58:00.000-07:00

USCIS has approved new regional centers in Florida and California.

The Florida Overseas Investment Center, headquartered in Sarasota, claims to be the only regional center that offers a mutual fund approach allowing investors to own a portfolio companies across Florida. It invests a variety of industries across the state.

The M & D Regional Center focuses on real estate projects in Southern California. Information can be obtained by emailing Young Kim at info@mdregionalcenter.com.

CHINESE HYBRID AUTO MAKER HOPES TO USE EB-5 PROGRAM TO ATTRACT INVESTORS

2009-09-30T07:22:00.000-07:00

According to the Montgomery Advertiser:

HK Motors has announced plans to build the plant that will begin making about 300,000 vehicles a year in 2013 -- provided the company can find the $1.5 billion in funding it needs for the project.Within a decade, company officials want to triple the plant's annual capacity to about 1 million vehicles.

WKRG in Mobile also writes about the news.

MCCLATCHY REPORTS ON SUCCESS OF EB-5 PROGRAM

2009-09-25T20:06:00.000-07:00

The article focuses largely on Florida projects.

EB-5 REGIONAL CENTER PROGRAM EXTENDED UNTIL END OF OCTOBER

2009-09-25T07:18:00.000-07:00

The program, set to expire September 30th, is now extended until October 31st while House and Senate conferees work out longer term extensions as part of their work on the DHS spending bill.

CBP CONFIRMS EB-5 VISA HOLDERS TO BE ADMITTED AFTER SEPTEMBER 30TH

2009-09-23T09:03:00.000-07:00

The regional center EB-5 program expires on September 30th and despite the fact that the Senate has passed an extension as part of the DHS spending bill, final passage remains stalled. It is likely Congress will pass a continuing resolution extending the program, but just in case, EB-5 advocates are asking questions regarding what happens while we wait.

The American Immigration Lawyers Association asked officials at Customs and Border Protection how they intend to handle these cases:

Question: Based on the October Visa Bulletin, the Department of State will be issuing EB-5 visas for the full validity period up to close of business on September 30, 2009. Could you confirm that CBP will be admitting these EB-5 visa holders on or after September 30, 2009?

Answer: If the visa is valid and the applicant is otherwise admissible, there should not be an issue with CBP admitting as an EB-5.

UK FAMILY FACES LOSS OF BUSINESS AFTER VISAS NOT RENEWED

2009-09-09T22:50:00.000-07:00

The Miami Herald reports on the woes of the McKnight family who have not been able to get their E-2 visas extended. The family has bought two ice cream franchises and is only two years in to their business cycle. Now they face having to sell their businesses after the US consulate in London has denied their visas and refuses to budge on the original decision.

OHIO REGIONAL CENTER TARGETS INVESTORS TO FUND RESEARCH PARK

2009-08-23T11:19:00.000-07:00

The Cleveland Plain-Dealer reports on how investor groups in Summit County and Wooster, Ohio are hoping the state's new regional center can attract investors to help fund a research park.

CNN REPORTS ON JAY PEAK EB-5 PROGRAM

2009-08-22T08:47:00.000-07:00

CNNMoney.com reports on the EB-5 program and mentions the Jay Peak regional center in Vermont, the South Dakota program, and the centers in Alabama, Philadelphia and Milwaukee.

DORAL RESORT COMMUNITY SEEKING EB-5 INVESTMENTS

2009-08-20T21:13:00.001-07:00

The Miami Herald reports on another project in the Miami-Dade/Monroe EB-5 regional center.

COURT SETTLEMENT PAVES WAY FOR EB-5 INVESTORS

2009-08-15T12:04:00.000-07:00

The Memphis Commercial Appeal reports on the progress in a case involving an investment in a hybrid automobile plant in Tunica County, Mississippi. EB-5 investors will help fund the project.

INC. MAGAZINE: PROJECTS TURN TO THE EB-5 PROGRAM IN A TOUGH ECONOMY

2009-08-15T12:01:00.000-07:00

Inc. reports on the 60 EB-5 regional centers and also notes that 40 more are on the way.

VT GOVERNOR GOES TO ASIA TO RECRUIT EB-5 INVESTORS

2009-08-15T11:58:00.000-07:00

Vermont Governor Jim Douglas is going to visit several countries in Asia to help promote the state's EB-5 regional center. The programs focus on the Vermont ski industry.

CALIFORNIA CITY, REGIONAL CENTER FACE OFF IN CONTRACT BREACH CASE

2009-08-13T22:04:00.000-07:00

EB-5 regional center manager CMB is suing Victorville, California after the town pursued EB-5 investors with a second management company.

GREEN CARDS DRAW INVESTORS TO FLORIDA

2009-08-11T10:11:00.000-07:00

The Miami Herald reports that EB-5 visas are drawing foreign investors to South Florida and could help that recession-ravaged city recover faster. The report discusses new regional centers in Orlando and South Florida.

FIRST INVESTORS APPROVED FOR NEW CALIFORNIA REGIONAL CENTER

2009-08-11T05:09:00.000-07:00

A Chinese family's EB-5 petition has been approved based on an investment in a regional center in Victorville, California.

VICTORVILLE, CA APPROVES REGIONAL CENTER

2009-08-03T22:58:00.000-07:00

From the San Bernadino Sun:

In a move to bolster job growth and investment, the Victorville City Council has approved an investor visa program that will make 3,000 EB-5 visas available to qualified foreign investors. Funds from the investments will initially be used for a series of projects at Southern California Logistics Airport, according to a news release.
The program, which will report directly to U.S. Citizenship and Immigration Services, will create private and limited partnerships to complete a series of projects at the airport, including a wastewater-treatment facility, electrical generation, intermodal rail improvements and various infrastructure improvements, according to the release.

NEVADA CENTER RECRUITING EB-5 INVESTORS IN THAILAND

2009-08-03T22:55:00.000-07:00

Thailand newspaper The Nation reports that the Nevada Regional Economic Development Center has been in Thailand introducing their program to Thai investors.

IDAHO GOVERNOR CALLS FOR STATE TO SECURE EB-5 REGIONAL CENTER

2009-08-03T22:50:00.000-07:00

From the Idaho Business Review:

Otter told the Boise Metro Chamber of Commerce July 28 that members of his cabinet would meet with representatives from eight industry groups on Aug. 31 and create an “action plan” to boost business in the state.

The governor said Idaho is still struggling through the recession and noted that the state ended the fiscal year on June 30 with revenues $92.8 million below estimates. He said the state could face a shortfall of as much as $270 million this fiscal year, on top of $380 million in cuts last year.

*****

The governor noted that the Idaho Innovation Council, which he created last year, will meet in September for some brainstorming. He said the group represents the next generation of business leaders that is creating advancements in areas like painkillers, computer chips and robotic-operated manufacturing.

Otter also said the state is stepping up efforts to boost international trade through its outposts in Guadalajara, Mexico, and Taipei, Taiwan, and pushing ahead to bring an EB-5 Center to the state to attract wealthy foreign investors, who can “buy” the right to become U.S. citizens by creating new businesses.

EB-5 INVESTMENTS FUND $20 MILLION EXPANSION AT JAY PEAK SKI RESORT

2009-08-03T18:43:00.000-07:00

200 construction workers are racing to complete the resort's new $20 million base lodge and hotel in time for the upcoming ski season. The resort plans to spend more than $100 million on various expansion projects that are expected to lead to the creation of 600 to 700 jobs.

CSC IDENTIFYING PENDING EB-5 ADJUSTMENT CASES AFFECTED BY SUNSET

2009-07-28T05:36:00.000-07:00

Even though a permanent re-authorization of the EB-5 is included in the DHS spending bill, until that bill is finalized, USCIS is preparing for the September 30th sunset of the regional center program. It is pulling I-485 cases pending at the California Service Center and will attempt to adjudicate those cases before the deadline unless the re-authorization law passes in the interim.

VERMONT NEWS COVERAGE OF EB-5 HEARING IN SENATE

2009-07-25T09:24:00.000-07:00

Vermont Public Radio

Burlington (VT) Free Press

WCAX

Vermont Business Magazine

ARKON EB-5 REGIONAL CENTER PROJECT DRAWS PRAISE FROM LOCAL MEDIA

2009-07-21T20:13:00.000-07:00

The Cleveland Plain Dealer runs an editorial praising the EB-5 program that is investing in the Akron area:

Economic development officials from Akron and Summit County plan to tap a little-known and too-rarely used provision of immigration law to help pay for the city's $900 million Goodyear headquarters project and to boost other job-generating enterprises as well.

For that, they deserve a huge round of applause -- and a small army of imitators across this region

PUNTA GORDA, FL CITY COUNCIL HEARS PRESENTATION ON PROPOSED EB-5 REGIONAL CENTER

2009-07-21T20:03:00.001-07:00

From the Charlotte Sun.

WHATCOM REGIONAL CENTER COVERED IN LOCAL PAPER

2009-07-21T19:50:00.000-07:00

From the Bellingham Herald.

SENATE TO HOLD HEARING ON EB-5 PROGRAM ON 7/22

2009-07-21T12:27:00.000-07:00

The Senate Committee on the Judiciary will hold a hearing entitled "Promoting Job Creation and Foreign Investment in the United States: An Assessment of the EB-5 Regional Center Program" on Wednesday, July 22, 2009 at 10:00 a.m. in Room 226 of the Senate Dirksen Office Building.

There will be a live webcast available at the link above.

Witness List

Hearing before the

Senate Committee on the Judiciary

"Promoting Job Creation and Foreign Investment in the United States: An Assessment of the EB-5 Regional Center Program"

Wednesday, July 22, 2009

Dirksen Senate Office Building Room 226

10:00 a.m.

Robert F. Kruszka

Deputy Chief

Service Center Operations

U.S. Citizenship and Immigration Services

Washington, D.C.

Stephen Yale-Loehr

Adjunct Professor, Cornell University Law School

Executive Director, Invest In the USA

Ithaca, New York

Bill Stenger

President

Jay Peak Resort

Newport, Vermont

Michael T. Dougherty

Former U.S. Citizenship & Immigration Services Ombudsman

Alexandria, Virginia

Ron Drinkard

Director

Alabama Center for Foreign Investment

Montgomery, AL

KANSAS BIOFUELS REGIONAL CENTER ATTRACTS MULTIPLE INVESTORS FOR INITIAL PROJECT

2009-07-10T21:24:00.000-07:00

From the Hutchinson News.

CMB PARTNERS WITH AKRON, OHIO IN EB-5 REGIONAL CENTER

2009-07-10T20:45:00.000-07:00

Akron.com reports that USCIS has approved a new regional center in the Akron, Ohio area. The center will be marketed under the name CMB Summit LLC Regional Center and funds are to be used to generate jobs connected with the area's Goodyear project.

The Akron Beacon Journal also has a story covering the launch of the new center.

SENATE VOTES TO PERMANENTLY EXTEND EB-5 REGIONAL CENTER PROGRAM

2009-07-08T19:35:00.000-07:00

The Senate today voted on an amendment to permanently reauthorize the EB-5 regional center program. The measure was added to the DHS spending bill as a secondary amendment to an amendment introduced by Senator Jeff Sessions (R-AL) that permanently reauthorizes the E-Verify electronic employment verification system.

RECESSION BREATHES NEW LIFE IN TO EB-5 PROGRAM

2009-07-02T18:54:00.000-07:00

Florida Trends reports on the growing popularity of the EB-5 in the Sunshine State. The state will soon have four operational EB-5 regional centers.

USCIS LIBERALIZES EB-5 JOB CREATION RULES

2009-06-21T19:29:00.000-07:00

USCIS Acting Associate Director for Domestic Operations Michael Neufeld has released a memorandum announcing modifications to the Adjudicators Field Manual regarding the EB-5 job creation requirement. The key charges are the following:

For purposes of the Form I-526 adjudication and the job creation requirements, USCIS will deem the two-year period described in 8 C.F.R. § 204.6(j)(4)(i)(B) to commence six months after the adjudication of the Form I-526. USCIS officers should ensure that the business plan filed with the Form I-526 reasonably demonstrates that the requisite number of jobs will be created by the end of this two-year period.

For Regional Center petitions and for purposes of indirect job creation, USCIS officers may consider economic models that rely on certain variables to show job creation and the amount of investment to determine whether the required infusion of capital or creation of direct jobs will result in a certain number of indirect jobs.

USCIS also has concluded that direct and indirect construction jobs that are created by the petitioner’s investment and that are expected to last at least 2 years may now count as permanent jobs for Form I-526 and I-829 purposes.

USCIS RESPONDS TO OMBUDSMAN'S EB-5 RECOMMENDATIONS

2009-06-19T05:05:00.001-07:00

Mostly good news. USCIS pledges to issue a regulation soon on old EB-5 investors sitting in limbo and make other changes that will hopefully strengthen the program.

USCIS response to EB-5 Ombudsman recommendations -

DALLAS EXPLORING CREATING AN EB-5 REGIONAL CENTER

2009-06-13T15:09:00.000-07:00

The Dallas Morning News reports

District 12 Dallas City Council member Ron Natinsky is off to China as we type -- leading a small delegation of Dallas city officials on what'll be a five-day, five-city economic development tour. He told us from the airport that much of the trip will center on Dallas' bid to become an "EB-5 regional center," with an aim of attracting new foreign investment to Dallas by easing foreign work restrictions.

EB-5 PROGRAMS TARGET ASIAN INVESTORS

2009-06-12T16:50:00.000-07:00

Channel News Asia reports.

BILL TO EXTEND EB-5 PROGRAM UNTIL 2014 INTRODUCED IN HOUSE

2009-06-12T16:42:00.000-07:00

Representative Gabrielle Giffords (D-AZ) has introduced a bill to extend the EB-5 regional center program for five years past its set September 30, 2009 expiration. The bill would also extend the E-Verify, Special Immigration Religious Worker and Conrad 30 J-1 waiver programs.

TIDBITS

2009-05-17T09:42:00.000-07:00

NuWire Investor talks about immigrant investors helping the US economy.

EarthTimes - Realtors Use New Types of Visas To Open Doors for Foreign Investors

DETROIT LEADERS CONSIDERING EB-5 REGIONAL CENTER

2009-05-17T09:41:00.000-07:00

From Metromode.com.

WADHWA: EXPAND THE H-1B PROGRAM TO INCLUDE HOUSING INVESTORS

2009-05-17T09:31:00.000-07:00

From Professor Wadhwa's recent Business Week column:

Many economists have begun to discuss this theme, and not surprisingly, they find the Grassley approach counterproductive. Gary Shilling, a prominent economist, envisions a new visa program that would expand the existing EB-5 visa program, which allows visas to be issued to a foreigner who has invested $1 million in a new enterprise that hires at least 10 new employees. The program allows for as many as 10,000 visas a year and grants foreigners permanent residence after two years.

Econoblogger Tyler Cowen, a professor of economics at George Mason University, proposes that foreigners who buy homes be granted an employment visa, a mechanism he feels might even buoy the U.S. housing market. Melding a home purchase with an expanded H-1B program and a clear, fast-track path to citizenship might be an effective way to not only bring in these immigrant knowledge workers but also harness their economic growth to help the entire country regain some of its lost housing value. Beyond creating more jobs and potentially underpinning the housing market, this infusion of smart immigrants would most likely have other salutary effects, such as expanding the U.S. tax base and boosting the number of patents filed in the U.S. by both immigrant workers and U.S. citizens.

UK MAN BEING INVESTIGATED FOR EB-5 FRAUD

2009-05-02T11:46:00.000-07:00

A lot of new people have been getting in to the EB-5 field as the program grows more popular and many of the processing problems have been reduced. Unfortunately, that will also attract those who seek to make a fast, dishonest buck. The Observer in London reports on one case under investigation.

OHIO COMMUNITY GETS READY FOR EB-5 PROGRAM

2009-04-26T22:36:00.000-07:00

Wooster, Ohio officials ask questions regarding the EB-5 program application submitted for the community.

NEW EB-5 REGIONAL CENTER APPROVED FOR SOUTH FLORIDA

2009-04-26T22:30:00.000-07:00

The South Florida Investment Regional Center is the latest EB-5 regional center to be approved and will fund projects in Miami-Dade and Monroe Counties. The SFIRC's web site can be found here.

CMB LAWSUIT AGAINST CALIFORNIA CITY PROCEEDS

2009-04-26T22:23:00.000-07:00

The Steamboat Pilot & Today (CO) reports on a suit between EB-5 regional center CMB and Victorville, California. CMB and the city originally were set to work together on various development projects using foreign investors, but, according to the suit, the city sought to fraudulently gain access to CMB's business model in order to set up its own EB-5 regional center program.

EB-5 HAS POTENTIAL FOR SOUTH FLORIDA

2009-04-26T22:22:00.001-07:00

Report from Miami Today.

COLORADO CONGRESSMAN PUSHING EB-5 REFORMS

2009-04-19T10:51:00.000-07:00

Colorado Democrat Jared Polis is crafting legislation to make the EB-5 program more attractive to foreign investors. The bill would streamline and expand the program.

VICTORVILLE, CA EB-5 PROGRAM SUBJECT OF LEGAL FEE DISPUTE

2009-04-11T22:48:00.000-07:00

The city of Victorville, California's legal relationship and the fees charged by a DC law firm are the subject of a dispute.

VERMONT EB-5 PROGRAM PROFILED IN TELEVISION NEWS STORY

2009-03-28T07:28:00.000-07:00

New England Cable News profiles the Jay Peak EB-5 project and the impact the program is having on job development in the state.

PHILIPPINES INTRODUCES NEW INVESTOR VISA PROGRAM

2009-03-22T20:53:00.000-07:00

It's similar to the US program in that 10 jobs must be created, but it doesn't appear that there is a minimum investment requirement.

USCIS OMBUDSMAN ISSUES RECOMMENDATIONS TO IMPROVE EB-5 PROGRAM

2009-03-21T08:50:00.001-07:00

The report is here.

The Philadelphia Inquirer's story on the report is here.