Sunday, May 4, 2014
Wealthy Indian Citizens Still Want Second Passports
The Economic Times, an Indian journal, reports demand is still strong among the country's super-rich for passports in other countries. The article focuses on Europe and the question arises why the EB-5 program is so popular with Chinese investors but has not been as popular with Indians.
# posted by Greg Siskind @ 2:10 PM
Tuesday, April 29, 2014
USCIS Hears Feedback on EB-5 Program
On April 24th, USCIS held a listening session where stakeholders could provide comments on what is and is not working with the EB-5 program. My friend Angelo Paparelli offers highlights from the meeting on his blog Nation of Immigrators.
# posted by Greg Siskind @ 7:24 AM
Sunday, April 20, 2014
South Dakota Newspaper Provides Back Story on Regional Center Failure
A South Dakota newspaper has provided an in depth report on the state's troubled EB-5 regional center program. From the Rapid City Journal:
The need for dairy cows led to state government’s decision to seek foreign investors.
The initiative grew into a global program that attracted hundreds of millions of dollars from investors in China and South Korea.
For $500,000 apiece plus fees for lawyers and services, foreigners could invest in a project and if enough jobs were created receive federal immigration clearance to live in the U.S.
Eleven years later, Gov. Dennis Daugaard shut down the EB-5 program that has left a mixed record and unanswered questions in its wake.
A central figure in the operation is dead. Others were hurt or wiped out financially. One project failed. One business solidified itself. Two energy projects paid less for financing. Another casino was built.
And former Gov. Mike Rounds finds himself answering questions about what happened from 2003 through 2010 as he now runs for the U.S. Senate.
# posted by Greg Siskind @ 6:32 PM
Thursday, April 17, 2014
USCIS Hosting Listening Session on EB-5 Regs on 4/23
From USCIS:
U.S. Citizenship and Immigration
Services (USCIS) invites you to participate in a stakeholder teleconference on Wednesday, April 23, 2014, from 2:30 p.m.
to 4 p.m. (Eastern) to discuss future regulatory changes for
the EB-5 Immigrant Investor Program.
USCIS is beginning work on revised
EB-5 regulations. Regulatory revision has been identified as an important step
for the future of the EB-5 Program and is an agency priority. We invite EB-5
stakeholders to provide feedback on EB-5 regulations as we work toward making
regulatory improvements to strengthen the efficiency, predictability,
and integrity of the EB-5 program.
During this engagement, USCIS
officials will listen to your feedback and input on changes to the EB-5
regulations. Feedback and input can be related to:
- Methods to combat fraud and abuse
- How to improve upon current regulations
- Substantive eligibility requirements
- Procedural filing requirements
For those unable to attend, we will
hold a follow-up discussion in the USCIS
Idea Community. We encourage you to become a part of the discussion
starting on April 24, 2014.
To register for this session,
please follow the steps below:
- Visit our registration page
to confirm your participation
- Enter your email address and select “Submit”
- Select “Subscriber Preferences”
- Select the “Event Registration” tab
- Be sure to provide your full name and organization
- Complete the questions and select “Submit”
Once your registration is processed, you will
receive a confirmation email with additional details.
# posted by Greg Siskind @ 5:24 AM
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 @ 2:10 PM
On April 24th, USCIS held a listening session where stakeholders could provide comments on what is and is not working with the EB-5 program. My friend Angelo Paparelli offers highlights from the meeting on his blog Nation of Immigrators.
# posted by Greg Siskind @ 7:24 AM
Sunday, April 20, 2014
South Dakota Newspaper Provides Back Story on Regional Center Failure
A South Dakota newspaper has provided an in depth report on the state's troubled EB-5 regional center program. From the Rapid City Journal:
The need for dairy cows led to state government’s decision to seek foreign investors.
The initiative grew into a global program that attracted hundreds of millions of dollars from investors in China and South Korea.
For $500,000 apiece plus fees for lawyers and services, foreigners could invest in a project and if enough jobs were created receive federal immigration clearance to live in the U.S.
Eleven years later, Gov. Dennis Daugaard shut down the EB-5 program that has left a mixed record and unanswered questions in its wake.
A central figure in the operation is dead. Others were hurt or wiped out financially. One project failed. One business solidified itself. Two energy projects paid less for financing. Another casino was built.
And former Gov. Mike Rounds finds himself answering questions about what happened from 2003 through 2010 as he now runs for the U.S. Senate.
# posted by Greg Siskind @ 6:32 PM
Thursday, April 17, 2014
USCIS Hosting Listening Session on EB-5 Regs on 4/23
From USCIS:
U.S. Citizenship and Immigration
Services (USCIS) invites you to participate in a stakeholder teleconference on Wednesday, April 23, 2014, from 2:30 p.m.
to 4 p.m. (Eastern) to discuss future regulatory changes for
the EB-5 Immigrant Investor Program.
USCIS is beginning work on revised
EB-5 regulations. Regulatory revision has been identified as an important step
for the future of the EB-5 Program and is an agency priority. We invite EB-5
stakeholders to provide feedback on EB-5 regulations as we work toward making
regulatory improvements to strengthen the efficiency, predictability,
and integrity of the EB-5 program.
During this engagement, USCIS
officials will listen to your feedback and input on changes to the EB-5
regulations. Feedback and input can be related to:
- Methods to combat fraud and abuse
- How to improve upon current regulations
- Substantive eligibility requirements
- Procedural filing requirements
For those unable to attend, we will
hold a follow-up discussion in the USCIS
Idea Community. We encourage you to become a part of the discussion
starting on April 24, 2014.
To register for this session,
please follow the steps below:
- Visit our registration page
to confirm your participation
- Enter your email address and select “Submit”
- Select “Subscriber Preferences”
- Select the “Event Registration” tab
- Be sure to provide your full name and organization
- Complete the questions and select “Submit”
Once your registration is processed, you will
receive a confirmation email with additional details.
# posted by Greg Siskind @ 5:24 AM
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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A South Dakota newspaper has provided an in depth report on the state's troubled EB-5 regional center program. From the Rapid City Journal:
The need for dairy cows led to state government’s decision to seek foreign investors.
The initiative grew into a global program that attracted hundreds of millions of dollars from investors in China and South Korea.
For $500,000 apiece plus fees for lawyers and services, foreigners could invest in a project and if enough jobs were created receive federal immigration clearance to live in the U.S.
Eleven years later, Gov. Dennis Daugaard shut down the EB-5 program that has left a mixed record and unanswered questions in its wake.
A central figure in the operation is dead. Others were hurt or wiped out financially. One project failed. One business solidified itself. Two energy projects paid less for financing. Another casino was built.
And former Gov. Mike Rounds finds himself answering questions about what happened from 2003 through 2010 as he now runs for the U.S. Senate.
# posted by Greg Siskind @ 6:32 PM
From USCIS:
U.S. Citizenship and Immigration
Services (USCIS) invites you to participate in a stakeholder teleconference on Wednesday, April 23, 2014, from 2:30 p.m.
to 4 p.m. (Eastern) to discuss future regulatory changes for
the EB-5 Immigrant Investor Program.
USCIS is beginning work on revised
EB-5 regulations. Regulatory revision has been identified as an important step
for the future of the EB-5 Program and is an agency priority. We invite EB-5
stakeholders to provide feedback on EB-5 regulations as we work toward making
regulatory improvements to strengthen the efficiency, predictability,
and integrity of the EB-5 program.
During this engagement, USCIS
officials will listen to your feedback and input on changes to the EB-5
regulations. Feedback and input can be related to:
- Methods to combat fraud and abuse
- How to improve upon current regulations
- Substantive eligibility requirements
- Procedural filing requirements
For those unable to attend, we will
hold a follow-up discussion in the USCIS
Idea Community. We encourage you to become a part of the discussion
starting on April 24, 2014.
To register for this session,
please follow the steps below:
- Visit our registration page
to confirm your participation
- Enter your email address and select “Submit”
- Select “Subscriber Preferences”
- Select the “Event Registration” tab
- Be sure to provide your full name and organization
- Complete the questions and select “Submit”
Once your registration is processed, you will
receive a confirmation email with additional details.
# posted by Greg Siskind @ 5:24 AM
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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