EB-5 green card applications continue to be approved quickly.
Our last three petitions (I-526) were granted in about three months. The adjustment of status applications were approved in less than two months.
There are more approved Regional Centers and some have new projects. Still, most are investing with established Regional Centers that have hundreds of approvals.
I will be speaking on EB-5 visas at the American Immigration Lawyers Association Conference in Boston on August 27, and in El Paso, Texas on September 23.
There has been a shake up of the USCIS California Service Center management. The Director and her Deputy have been replaced. It is unsure if this will impact the EB-5 unit. USCIS policy still seems to be to let the CSC run the EB-5 program with little input from Washington.
Martin
Thursday, July 29, 2010
Martin Lawler’s EB-5 Conference Talks
I will be giving a talk at the American Immigration Lawyers Association (AILA) EB-5 Conference on Friday, August 27, 2010, in Boston; a comprehensive one-day training on EB-5 investor law. I will also be speaking at the AILA Conference on September 23, 2010, in Texas on practice tips and documentation of EB-5 petitions.
Regional Center – Principal Place of Doing Business
Regional Centers can offer at least two kinds of commercial enterprises: those that are themselves the job creating entities, and those that channel capital to job-creating entities. In the latter situation, the commercial enterprise is merely a vehicle for investment in a company that creates jobs. The vehicle for investment is the “commercial enterprise” and the company that creates jobs is the “capital investment project.”
I mentioned in an earlier post that the USCIS had stated at a stakeholder’s meeting that commercial enterprises and their investment projects must be located in a Targeted Employment Area (TEA) in order to meet the $500,000 investment requirement. The USCIS clarified that where the commercial enterprise is legally domiciled is not relevant. The relevant fact is whether the commercial enterprise is “principally doing business” in a targeted area. The USCIS has used this language elsewhere as well, and it is supported by the regulations at 8 C.F.R. 204.6.
In the above scenario where a regional center’s commercial enterprise merely funds a capital investment project, the job creating entity (in this case the capital investment project) must be located within the TEA. I believe job creation should be at the heart of this analysis. The EB-5 visa is intended to create jobs. TEAs are the areas in particular need of jobs. Therefore, less capital is required to coax investors to capitalize companies that would crate jobs in those areas that particularly need it.
Regional Center – Principal Place of Doing Business
Regional Centers can offer at least two kinds of commercial enterprises: those that are themselves the job creating entities, and those that channel capital to job-creating entities. In the latter situation, the commercial enterprise is merely a vehicle for investment in a company that creates jobs. The vehicle for investment is the “commercial enterprise” and the company that creates jobs is the “capital investment project.”
I mentioned in an earlier post that the USCIS had stated at a stakeholder’s meeting that commercial enterprises and their investment projects must be located in a Targeted Employment Area (TEA) in order to meet the $500,000 investment requirement. The USCIS clarified that where the commercial enterprise is legally domiciled is not relevant. The relevant fact is whether the commercial enterprise is “principally doing business” in a targeted area. The USCIS has used this language elsewhere as well, and it is supported by the regulations at 8 C.F.R. 204.6.
In the above scenario where a regional center’s commercial enterprise merely funds a capital investment project, the job creating entity (in this case the capital investment project) must be located within the TEA. I believe job creation should be at the heart of this analysis. The EB-5 visa is intended to create jobs. TEAs are the areas in particular need of jobs. Therefore, less capital is required to coax investors to capitalize companies that would crate jobs in those areas that particularly need it.
Friday, July 23, 2010
The USCIS Ombudsman's Annual Report
The USCIS Ombudsman's Annual Report to Congress has recently been published with the USCIS response.
Of interest, USCIS reaffirmed for the I-829 removal of conditional residence application:
EB-5 adjudicators should not re-adjudicate the indirect job creation methodology for Regional Center cases absent clear error or evidence of fraud. USCIS will, however, continue to review the I-829 petitions to ensure that all measurable variables and assumptions that underlie the indirect job creation methodology have, in fact, been met.
For example, an investor may make a proposal to create a shopping center that would be leased to various businesses. At the I-526 stage, the investor may claim that this proposal would result in the hiring of a certain number of employees by the tenant-businesses and that a certain number of indirect jobs would be created as well. USCIS must ensure that the tenant jobs have substantially been filled to support the indirect job count. This is not re-adjudicating the job creation methodology, merely, verification of an assertion previously made during the I-526 stage.
In the alternative, if the job creation was based on total expenditure of capital to create the shopping center, USCIS must make sure that the full amount has, in fact, been invested in the job creating enterprise to support the job count.”
Where jobs have not yet been created by the time an I-829 is filed, the USCIS said:
“USCIS regulations provide some flexibility to respond to changed circumstances at the time the I-829 is filed by permitting the conditions to be removed from the alien investor’s permanent residence based upon a showing that the jobs will be created within a reasonable time.”
Regarding petitions based on investment in a regional center:
“USCIS currently prioritizes the review and processing of all Regional Center-affiliated petitions and will continue to do so. Regional Center-affiliated petitions are separated and assigned to specific officers who are trained to complete such specialized adjudications. With the increased number of staff dedicated to the processing of I-526 and I-829 petitions, we fully anticipate that the cycle times will continue to decrease.
Of interest, USCIS reaffirmed for the I-829 removal of conditional residence application:
EB-5 adjudicators should not re-adjudicate the indirect job creation methodology for Regional Center cases absent clear error or evidence of fraud. USCIS will, however, continue to review the I-829 petitions to ensure that all measurable variables and assumptions that underlie the indirect job creation methodology have, in fact, been met.
For example, an investor may make a proposal to create a shopping center that would be leased to various businesses. At the I-526 stage, the investor may claim that this proposal would result in the hiring of a certain number of employees by the tenant-businesses and that a certain number of indirect jobs would be created as well. USCIS must ensure that the tenant jobs have substantially been filled to support the indirect job count. This is not re-adjudicating the job creation methodology, merely, verification of an assertion previously made during the I-526 stage.
In the alternative, if the job creation was based on total expenditure of capital to create the shopping center, USCIS must make sure that the full amount has, in fact, been invested in the job creating enterprise to support the job count.”
Where jobs have not yet been created by the time an I-829 is filed, the USCIS said:
“USCIS regulations provide some flexibility to respond to changed circumstances at the time the I-829 is filed by permitting the conditions to be removed from the alien investor’s permanent residence based upon a showing that the jobs will be created within a reasonable time.”
Regarding petitions based on investment in a regional center:
“USCIS currently prioritizes the review and processing of all Regional Center-affiliated petitions and will continue to do so. Regional Center-affiliated petitions are separated and assigned to specific officers who are trained to complete such specialized adjudications. With the increased number of staff dedicated to the processing of I-526 and I-829 petitions, we fully anticipate that the cycle times will continue to decrease.
Wednesday, July 7, 2010
Avoid Years of Waiting for a Visa Number to Immigrate
One can immigrate quickly via the EB-5 investor visa. There are plenty of EB-5 visa numbers, whereas immigration under the EB-3 (labor certification) can take 7+ years. The EB-2 for people with an MS or a BS + 5 years of work experience from India and China will wait for years just for an available visa number needed to complete the immigration process.
The investment amount is usually $535,000. I can send you a list of limited partnership investments for EB-5 visas.
One can borrow the funds or they can be gifted by a relative. With an EB-5 investor green card one can run the business, enjoy retirement, go to school, or run another business.
One can also create a new business for an EB-5 visa.
This visa classification is a great way to immigrate to the United States relatively quickly.
Martin
The investment amount is usually $535,000. I can send you a list of limited partnership investments for EB-5 visas.
One can borrow the funds or they can be gifted by a relative. With an EB-5 investor green card one can run the business, enjoy retirement, go to school, or run another business.
One can also create a new business for an EB-5 visa.
This visa classification is a great way to immigrate to the United States relatively quickly.
Martin
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