On October 15th, the Immigrant Investor Program Office (IIPO) posted the Average Processing Times for I-526, I-829, and I-924 petitions as of August 31, 2015. I-526 Immigrant Petition by Alien Entrepreneur: 13.8 months I-829 Petition by Entrepreneur to Remove Conditions: 15.5 months I-924 Application for Regional Center Under the Immigrant Investor Pilot Program: 12.3 months For the most up-to-date average processing …
I-924A Reminder
View PostJuly 2015: New I-829 Petition, EB-5 Investment Coalition (EB-5IC) Report, and More
New Form I-829 Petition The USCIS uploaded a new Form I-829 Petition to their website. The newly uploaded petition is the 05/07/15 edition. USCIS will accept editions dated 3/11/13 or earlier only until 8/14/15. Note: Starting on 8/15/15, the USCIS will only accept the newly released 05/07/15 edition of the Form I-829 Petition. EB-5 Investment Coalition (EB-5IC) Report The EB-5 …
June 2015: New EB-5 Bill, EB-5 Stakeholder Engagement, and More
New EB-5 Bill Introduced On June 3rd, Charles Grassley (R-Iowa) and Patrick Leahy (D-Vermont) introduced S.1501 (American Job Creation and Investment Promotion Reform Act of 2015). This newly introduced EB-5 bill, co-sponsored by two influential senators, appears to currently have the strongest chance of passage. EB-5 Stakeholder Engagement On June 4th, the USCIS held an EB-5 Stakeholder Engagement with economists. …
May 2015: EB-5 Website Compliance, IIUSA EB-5 Impact Study, and More
Website Securities Compliance On May 7th, Catherine DeBono Holmes, Esq. and Victor T. Shum, Esq. released an interesting article titled The Basic Rules of Website Advertising for EB-5 Securities Offerings. This article is an important read for all Regional Center managers to help ensure continued website compliance with U.S. securities laws. A Roadmap to the Use of EB-5 Capital (NYU) …
April 2015: EB-5 Retrogression, Bush Family Ties, and EB-5 Processing Times
EB-5 Retrogression The National Law Review posted an article stating that “the EB-5 China immigrant visa category will retrogress beginning May 2015.” This information was obtained directly from Charles Oppenheim, Chief of the Visa Control and Reporting Division of the U.S. Department of State. It is important to note that EB-5 retrogression will only impact those individuals born in mainland …
March 2015: Mayorkas on the Hot Seat, Upcoming Stakeholder Meeting, and More
Mayorkas on the Hot Seat For the month of March, the majority of EB-5 related news revolved around a report released by the Department of Homeland Security’s (DHS) Inspector General. The EB-5 related report focused on three separate cases, involving major Democrats, in which Alejandro Mayorkas “created an appearance of favoritism and special access.” For more information, we invite you …
EB-5 Related Report Issued by DHS Inspector General
View PostFebruary 2015: Bloomberg Article, EB-5 Interactive Series, and Updated Processing Times
February proved to be a relatively quiet month in the world of EB-5. Bloomberg Article On February 13th, Bloomberg published an article titled SEC to Target Deals Giving Visas to Rich Foreign Investors. The article, citing people familiar with the matter, states that the SEC is preparing sanctions against as many as two-dozen immigration attorneys. “The most recent SEC foray …
The Start of a Perilous Year for the EB-5 Program
The commencement of the Republican-controlled 114th Congress may mean serious trouble for the EB-5 program. On January 8, 2015, Senator Chuck Grassley (R-Iowa) became the first non-lawyer to be elected Chairman of the influential Senate Judiciary Committee, replacing EB-5 proponent Senator Patrick Leahy (D-Vermont).[1] Over the past few years, Senator Chuck Grassley (R-Iowa) has been one of the most vocal …
New U.S. China Visa Term Agreement
We received a couple of emails yesterday questioning the impact of the new visa agreement between the U.S. and China on the EB-5 industry. For those that have not yet heard, starting today (November 12th), China and the U.S. have agreed to begin granting each other’s citizens longer business, tourism and education visa terms. The White House has said that …
South Dakota Regional Center Fiasco
This past Tuesday, Republican Mike Rounds defeated Democrat Rick Weiland in the South Dakota Senate race. Rounds, the former governor of South Dakota, has remained in the spotlight throughout the entire election process for his involvement in mismanagement of the EB-5 program in South Dakota. During Rounds’ administration, the state of South Dakota offered green cards to foreign investors in …
Demystifying EB-5 Intercreditor Agreements
Over the past month we have received a few questions about the use and structure of EB-5 intercreditor agreements. Therefore, we have decided that this topic warrants a public post instead of individual responses. An intercreditor agreement is broadly defined as an agreement between one or more creditors who have shared interests in a particular borrower. This agreement is used …
Investor Alert: EB-5 Escrow Agreements
View PostThe Untold Side of the Chicago Convention Center Fraud
Late last month, a federal grand jury brought criminal charges against Anshoo Sethi.1 The indictment, charging Mr. Sethi with eight counts of wire fraud and two counts of making false statements, brings with it the potential for a lengthy prison sentence. The maximum sentence, if convicted, would be 20 years for each of the fraud counts and an additional 10 …
Demystifying EB-5 Intercreditor Agreements
Over the past month we have received a few questions about the use and structure of EB-5 intercreditor agreements. Therefore, we have decided that this topic warrants a public post instead of individual responses. An intercreditor agreement is broadly defined as an agreement between one or more creditors who have shared interests in a particular borrower. This agreement is used …
Demystifying EB-5 Mezzanine Financing
View PostApril 2015: EB-5 Retrogression, Bush Family Ties, and EB-5 Processing Times
EB-5 Retrogression The National Law Review posted an article stating that “the EB-5 China immigrant visa category will retrogress beginning May 2015.” This information was obtained directly from Charles Oppenheim, Chief of the Visa Control and Reporting Division of the U.S. Department of State. It is important to note that EB-5 retrogression will only impact those individuals born in mainland …
New U.S. China Visa Term Agreement
We received a couple of emails yesterday questioning the impact of the new visa agreement between the U.S. and China on the EB-5 industry. For those that have not yet heard, starting today (November 12th), China and the U.S. have agreed to begin granting each other’s citizens longer business, tourism and education visa terms. The White House has said that …
China EB-5 Visa Category is “Unavailable”
Last week we published an article titled The Great Chinese Exodus Benefits EB-5, which discussed the continued high Chinese demand for the EB-5 program. The issue of high Chinese demand was finally addressed this past weekend at the 2014 AILA EB-5 Investors & Regional Centers Conference in Chicago where Charles Oppenheim (Chief of Immigrant Visa Control & Reporting) announced that …
The Great Chinese Exodus Benefits EB-5
This past weekend, the Wall Street Journal published a Saturday Essay titled The Great Chinese Exodus. “A survey by the Shanghai research firm Hurun Report shows that 64% of China’s rich – defined as those with assets of more than $1.6 million – are either emigrating or planning to.” Many in China are discovering that they can now buy a …
Calculating Age for EB-5 Dependents
Under the current EB-5 program, an EB-5 investor’s spouse and any unmarried children under the age of 21 may be admitted to the U.S. along with the EB-5 immigrant investor. If the investor’s I-829 petition to remove conditions is approved, then the conditions will also be removed for the spouse and children. However, at what point must the child be …
July 2015: New I-829 Petition, EB-5 Investment Coalition (EB-5IC) Report, and More
New Form I-829 Petition The USCIS uploaded a new Form I-829 Petition to their website. The newly uploaded petition is the 05/07/15 edition. USCIS will accept editions dated 3/11/13 or earlier only until 8/14/15. Note: Starting on 8/15/15, the USCIS will only accept the newly released 05/07/15 edition of the Form I-829 Petition. EB-5 Investment Coalition (EB-5IC) Report The EB-5 …
Demystifying EB-5 Intercreditor Agreements
Over the past month we have received a few questions about the use and structure of EB-5 intercreditor agreements. Therefore, we have decided that this topic warrants a public post instead of individual responses. An intercreditor agreement is broadly defined as an agreement between one or more creditors who have shared interests in a particular borrower. This agreement is used …
Investor Alert: EB-5 Escrow Agreements
View PostThe Untold Side of the Chicago Convention Center Fraud
Late last month, a federal grand jury brought criminal charges against Anshoo Sethi.1 The indictment, charging Mr. Sethi with eight counts of wire fraud and two counts of making false statements, brings with it the potential for a lengthy prison sentence. The maximum sentence, if convicted, would be 20 years for each of the fraud counts and an additional 10 …
Demystifying EB-5 Mezzanine Financing
View PostJune 2015: New EB-5 Bill, EB-5 Stakeholder Engagement, and More
New EB-5 Bill Introduced On June 3rd, Charles Grassley (R-Iowa) and Patrick Leahy (D-Vermont) introduced S.1501 (American Job Creation and Investment Promotion Reform Act of 2015). This newly introduced EB-5 bill, co-sponsored by two influential senators, appears to currently have the strongest chance of passage. EB-5 Stakeholder Engagement On June 4th, the USCIS held an EB-5 Stakeholder Engagement with economists. …
May 2015: EB-5 Website Compliance, IIUSA EB-5 Impact Study, and More
Website Securities Compliance On May 7th, Catherine DeBono Holmes, Esq. and Victor T. Shum, Esq. released an interesting article titled The Basic Rules of Website Advertising for EB-5 Securities Offerings. This article is an important read for all Regional Center managers to help ensure continued website compliance with U.S. securities laws. A Roadmap to the Use of EB-5 Capital (NYU) …
NY Times Immigration Reform Op-Ed
The New York Times ran an Op-Ed written by Sheldon Anderson, Warren Buffet and Bill Gates on the topic of immigration reform. The Op-Ed, titled Break the Immigration Impasse, strongly advocates for the EB-5 Program as well as for its continued reform efforts. [T]he EB-5 “immigrant investor program,” created by Congress in 1990, was intended to allow a limited number of …
Is RIMS II Still Viable for EB-5?
In short, the answer continues to be yes. The Bureau of Economic Analysis (BEA), an agency of the Department of Commerce, will continue to sell the RIMS II multipliers until next year when they plan on releasing a new modified regional input-output model. Last year, as a result of the federal budget sequestration and reduced funding levels, BEA discontinued updates …
Updated EB-5 Processing Times
On October 15th, the Immigrant Investor Program Office (IIPO) posted the Average Processing Times for I-526, I-829, and I-924 petitions as of August 31, 2015. I-526 Immigrant Petition by Alien Entrepreneur: 13.8 months I-829 Petition by Entrepreneur to Remove Conditions: 15.5 months I-924 Application for Regional Center Under the Immigrant Investor Pilot Program: 12.3 months For the most up-to-date average processing …
July 2015: New I-829 Petition, EB-5 Investment Coalition (EB-5IC) Report, and More
New Form I-829 Petition The USCIS uploaded a new Form I-829 Petition to their website. The newly uploaded petition is the 05/07/15 edition. USCIS will accept editions dated 3/11/13 or earlier only until 8/14/15. Note: Starting on 8/15/15, the USCIS will only accept the newly released 05/07/15 edition of the Form I-829 Petition. EB-5 Investment Coalition (EB-5IC) Report The EB-5 …
June 2015: New EB-5 Bill, EB-5 Stakeholder Engagement, and More
New EB-5 Bill Introduced On June 3rd, Charles Grassley (R-Iowa) and Patrick Leahy (D-Vermont) introduced S.1501 (American Job Creation and Investment Promotion Reform Act of 2015). This newly introduced EB-5 bill, co-sponsored by two influential senators, appears to currently have the strongest chance of passage. EB-5 Stakeholder Engagement On June 4th, the USCIS held an EB-5 Stakeholder Engagement with economists. …
May 2015: EB-5 Website Compliance, IIUSA EB-5 Impact Study, and More
Website Securities Compliance On May 7th, Catherine DeBono Holmes, Esq. and Victor T. Shum, Esq. released an interesting article titled The Basic Rules of Website Advertising for EB-5 Securities Offerings. This article is an important read for all Regional Center managers to help ensure continued website compliance with U.S. securities laws. A Roadmap to the Use of EB-5 Capital (NYU) …
April 2015: EB-5 Retrogression, Bush Family Ties, and EB-5 Processing Times
EB-5 Retrogression The National Law Review posted an article stating that “the EB-5 China immigrant visa category will retrogress beginning May 2015.” This information was obtained directly from Charles Oppenheim, Chief of the Visa Control and Reporting Division of the U.S. Department of State. It is important to note that EB-5 retrogression will only impact those individuals born in mainland …
March 2015: Mayorkas on the Hot Seat, Upcoming Stakeholder Meeting, and More
Mayorkas on the Hot Seat For the month of March, the majority of EB-5 related news revolved around a report released by the Department of Homeland Security’s (DHS) Inspector General. The EB-5 related report focused on three separate cases, involving major Democrats, in which Alejandro Mayorkas “created an appearance of favoritism and special access.” For more information, we invite you …
EB-5 Related Report Issued by DHS Inspector General
View PostFebruary 2015: Bloomberg Article, EB-5 Interactive Series, and Updated Processing Times
February proved to be a relatively quiet month in the world of EB-5. Bloomberg Article On February 13th, Bloomberg published an article titled SEC to Target Deals Giving Visas to Rich Foreign Investors. The article, citing people familiar with the matter, states that the SEC is preparing sanctions against as many as two-dozen immigration attorneys. “The most recent SEC foray …
January 2015: EB-5 Blog Introduces Month in Review, Terminated Regional Center List, and More
EB-5 Blog Introduces “Month in Review” January 2015 has been an active month for the EB-5 industry. In our new series titled “Month in Review” we will provide a synopsis of the top EB-5 news, articles and insights from the month before. EB-5 Legislative Developments On January 28, 2015, Colorado Congressman Jared Polis (D) along with Nevada Congressman Mark Amodei …
The Start of a Perilous Year for the EB-5 Program
The commencement of the Republican-controlled 114th Congress may mean serious trouble for the EB-5 program. On January 8, 2015, Senator Chuck Grassley (R-Iowa) became the first non-lawyer to be elected Chairman of the influential Senate Judiciary Committee, replacing EB-5 proponent Senator Patrick Leahy (D-Vermont).[1] Over the past few years, Senator Chuck Grassley (R-Iowa) has been one of the most vocal …
South Dakota Regional Center Fiasco
This past Tuesday, Republican Mike Rounds defeated Democrat Rick Weiland in the South Dakota Senate race. Rounds, the former governor of South Dakota, has remained in the spotlight throughout the entire election process for his involvement in mismanagement of the EB-5 program in South Dakota. During Rounds’ administration, the state of South Dakota offered green cards to foreign investors in …
The Untold Side of the Chicago Convention Center Fraud
Late last month, a federal grand jury brought criminal charges against Anshoo Sethi.1 The indictment, charging Mr. Sethi with eight counts of wire fraud and two counts of making false statements, brings with it the potential for a lengthy prison sentence. The maximum sentence, if convicted, would be 20 years for each of the fraud counts and an additional 10 …
China EB-5 Visa Category is “Unavailable”
Last week we published an article titled The Great Chinese Exodus Benefits EB-5, which discussed the continued high Chinese demand for the EB-5 program. The issue of high Chinese demand was finally addressed this past weekend at the 2014 AILA EB-5 Investors & Regional Centers Conference in Chicago where Charles Oppenheim (Chief of Immigrant Visa Control & Reporting) announced that …
The Great Chinese Exodus Benefits EB-5
This past weekend, the Wall Street Journal published a Saturday Essay titled The Great Chinese Exodus. “A survey by the Shanghai research firm Hurun Report shows that 64% of China’s rich – defined as those with assets of more than $1.6 million – are either emigrating or planning to.” Many in China are discovering that they can now buy a …
NY Times Immigration Reform Op-Ed
The New York Times ran an Op-Ed written by Sheldon Anderson, Warren Buffet and Bill Gates on the topic of immigration reform. The Op-Ed, titled Break the Immigration Impasse, strongly advocates for the EB-5 Program as well as for its continued reform efforts. [T]he EB-5 “immigrant investor program,” created by Congress in 1990, was intended to allow a limited number of …
June 2015: New EB-5 Bill, EB-5 Stakeholder Engagement, and More
New EB-5 Bill Introduced On June 3rd, Charles Grassley (R-Iowa) and Patrick Leahy (D-Vermont) introduced S.1501 (American Job Creation and Investment Promotion Reform Act of 2015). This newly introduced EB-5 bill, co-sponsored by two influential senators, appears to currently have the strongest chance of passage. EB-5 Stakeholder Engagement On June 4th, the USCIS held an EB-5 Stakeholder Engagement with economists. …
Is RIMS II Still Viable for EB-5?
In short, the answer continues to be yes. The Bureau of Economic Analysis (BEA), an agency of the Department of Commerce, will continue to sell the RIMS II multipliers until next year when they plan on releasing a new modified regional input-output model. Last year, as a result of the federal budget sequestration and reduced funding levels, BEA discontinued updates …
Investor Alert: EB-5 Escrow Agreements
View PostThe Untold Side of the Chicago Convention Center Fraud
Late last month, a federal grand jury brought criminal charges against Anshoo Sethi.1 The indictment, charging Mr. Sethi with eight counts of wire fraud and two counts of making false statements, brings with it the potential for a lengthy prison sentence. The maximum sentence, if convicted, would be 20 years for each of the fraud counts and an additional 10 …
Updated EB-5 Processing Times
On October 15th, the Immigrant Investor Program Office (IIPO) posted the Average Processing Times for I-526, I-829, and I-924 petitions as of August 31, 2015. I-526 Immigrant Petition by Alien Entrepreneur: 13.8 months I-829 Petition by Entrepreneur to Remove Conditions: 15.5 months I-924 Application for Regional Center Under the Immigrant Investor Pilot Program: 12.3 months For the most up-to-date average processing …
June 2015: New EB-5 Bill, EB-5 Stakeholder Engagement, and More
New EB-5 Bill Introduced On June 3rd, Charles Grassley (R-Iowa) and Patrick Leahy (D-Vermont) introduced S.1501 (American Job Creation and Investment Promotion Reform Act of 2015). This newly introduced EB-5 bill, co-sponsored by two influential senators, appears to currently have the strongest chance of passage. EB-5 Stakeholder Engagement On June 4th, the USCIS held an EB-5 Stakeholder Engagement with economists. …
April 2015: EB-5 Retrogression, Bush Family Ties, and EB-5 Processing Times
EB-5 Retrogression The National Law Review posted an article stating that “the EB-5 China immigrant visa category will retrogress beginning May 2015.” This information was obtained directly from Charles Oppenheim, Chief of the Visa Control and Reporting Division of the U.S. Department of State. It is important to note that EB-5 retrogression will only impact those individuals born in mainland …
March 2015: Mayorkas on the Hot Seat, Upcoming Stakeholder Meeting, and More
Mayorkas on the Hot Seat For the month of March, the majority of EB-5 related news revolved around a report released by the Department of Homeland Security’s (DHS) Inspector General. The EB-5 related report focused on three separate cases, involving major Democrats, in which Alejandro Mayorkas “created an appearance of favoritism and special access.” For more information, we invite you …
Updated EB-5 Processing Times
On October 15th, the Immigrant Investor Program Office (IIPO) posted the Average Processing Times for I-526, I-829, and I-924 petitions as of August 31, 2015. I-526 Immigrant Petition by Alien Entrepreneur: 13.8 months I-829 Petition by Entrepreneur to Remove Conditions: 15.5 months I-924 Application for Regional Center Under the Immigrant Investor Pilot Program: 12.3 months For the most up-to-date average processing …
July 2015: New I-829 Petition, EB-5 Investment Coalition (EB-5IC) Report, and More
New Form I-829 Petition The USCIS uploaded a new Form I-829 Petition to their website. The newly uploaded petition is the 05/07/15 edition. USCIS will accept editions dated 3/11/13 or earlier only until 8/14/15. Note: Starting on 8/15/15, the USCIS will only accept the newly released 05/07/15 edition of the Form I-829 Petition. EB-5 Investment Coalition (EB-5IC) Report The EB-5 …
June 2015: New EB-5 Bill, EB-5 Stakeholder Engagement, and More
New EB-5 Bill Introduced On June 3rd, Charles Grassley (R-Iowa) and Patrick Leahy (D-Vermont) introduced S.1501 (American Job Creation and Investment Promotion Reform Act of 2015). This newly introduced EB-5 bill, co-sponsored by two influential senators, appears to currently have the strongest chance of passage. EB-5 Stakeholder Engagement On June 4th, the USCIS held an EB-5 Stakeholder Engagement with economists. …
April 2015: EB-5 Retrogression, Bush Family Ties, and EB-5 Processing Times
EB-5 Retrogression The National Law Review posted an article stating that “the EB-5 China immigrant visa category will retrogress beginning May 2015.” This information was obtained directly from Charles Oppenheim, Chief of the Visa Control and Reporting Division of the U.S. Department of State. It is important to note that EB-5 retrogression will only impact those individuals born in mainland …
March 2015: Mayorkas on the Hot Seat, Upcoming Stakeholder Meeting, and More
Mayorkas on the Hot Seat For the month of March, the majority of EB-5 related news revolved around a report released by the Department of Homeland Security’s (DHS) Inspector General. The EB-5 related report focused on three separate cases, involving major Democrats, in which Alejandro Mayorkas “created an appearance of favoritism and special access.” For more information, we invite you …
Updated EB-5 Processing Times
On October 15th, the Immigrant Investor Program Office (IIPO) posted the Average Processing Times for I-526, I-829, and I-924 petitions as of August 31, 2015. I-526 Immigrant Petition by Alien Entrepreneur: 13.8 months I-829 Petition by Entrepreneur to Remove Conditions: 15.5 months I-924 Application for Regional Center Under the Immigrant Investor Pilot Program: 12.3 months For the most up-to-date average processing …
June 2015: New EB-5 Bill, EB-5 Stakeholder Engagement, and More
New EB-5 Bill Introduced On June 3rd, Charles Grassley (R-Iowa) and Patrick Leahy (D-Vermont) introduced S.1501 (American Job Creation and Investment Promotion Reform Act of 2015). This newly introduced EB-5 bill, co-sponsored by two influential senators, appears to currently have the strongest chance of passage. EB-5 Stakeholder Engagement On June 4th, the USCIS held an EB-5 Stakeholder Engagement with economists. …
April 2015: EB-5 Retrogression, Bush Family Ties, and EB-5 Processing Times
EB-5 Retrogression The National Law Review posted an article stating that “the EB-5 China immigrant visa category will retrogress beginning May 2015.” This information was obtained directly from Charles Oppenheim, Chief of the Visa Control and Reporting Division of the U.S. Department of State. It is important to note that EB-5 retrogression will only impact those individuals born in mainland …
March 2015: Mayorkas on the Hot Seat, Upcoming Stakeholder Meeting, and More
Mayorkas on the Hot Seat For the month of March, the majority of EB-5 related news revolved around a report released by the Department of Homeland Security’s (DHS) Inspector General. The EB-5 related report focused on three separate cases, involving major Democrats, in which Alejandro Mayorkas “created an appearance of favoritism and special access.” For more information, we invite you …
The True Costs of Creating an EB-5 Regional Center
View PostDemystifying EB-5 Intercreditor Agreements
Over the past month we have received a few questions about the use and structure of EB-5 intercreditor agreements. Therefore, we have decided that this topic warrants a public post instead of individual responses. An intercreditor agreement is broadly defined as an agreement between one or more creditors who have shared interests in a particular borrower. This agreement is used …
July 2015: New I-829 Petition, EB-5 Investment Coalition (EB-5IC) Report, and More
New Form I-829 Petition The USCIS uploaded a new Form I-829 Petition to their website. The newly uploaded petition is the 05/07/15 edition. USCIS will accept editions dated 3/11/13 or earlier only until 8/14/15. Note: Starting on 8/15/15, the USCIS will only accept the newly released 05/07/15 edition of the Form I-829 Petition. EB-5 Investment Coalition (EB-5IC) Report The EB-5 …
Investor Alert: EB-5 Escrow Agreements
View PostJune 2015: New EB-5 Bill, EB-5 Stakeholder Engagement, and More
New EB-5 Bill Introduced On June 3rd, Charles Grassley (R-Iowa) and Patrick Leahy (D-Vermont) introduced S.1501 (American Job Creation and Investment Promotion Reform Act of 2015). This newly introduced EB-5 bill, co-sponsored by two influential senators, appears to currently have the strongest chance of passage. EB-5 Stakeholder Engagement On June 4th, the USCIS held an EB-5 Stakeholder Engagement with economists. …
January 2015: EB-5 Blog Introduces Month in Review, Terminated Regional Center List, and More
EB-5 Blog Introduces “Month in Review” January 2015 has been an active month for the EB-5 industry. In our new series titled “Month in Review” we will provide a synopsis of the top EB-5 news, articles and insights from the month before. EB-5 Legislative Developments On January 28, 2015, Colorado Congressman Jared Polis (D) along with Nevada Congressman Mark Amodei …
The Start of a Perilous Year for the EB-5 Program
The commencement of the Republican-controlled 114th Congress may mean serious trouble for the EB-5 program. On January 8, 2015, Senator Chuck Grassley (R-Iowa) became the first non-lawyer to be elected Chairman of the influential Senate Judiciary Committee, replacing EB-5 proponent Senator Patrick Leahy (D-Vermont).[1] Over the past few years, Senator Chuck Grassley (R-Iowa) has been one of the most vocal …
EB-5 Legislative Developments
EB-5 Blog has officially launched! It is with great pride that our first EB-5 related post covers H.R. 4659, a Bill introduced in Congress on May 13, 2014: “To amend the Immigration and Nationality Act to make the EB-5 regional center program permanent, and for other purposes.” The Bill, sponsored by Representative Aaron Schock [R-IL-18] and cosponsored by Representative Tulsi Gabbard …
Demystifying EB-5 Intercreditor Agreements
Over the past month we have received a few questions about the use and structure of EB-5 intercreditor agreements. Therefore, we have decided that this topic warrants a public post instead of individual responses. An intercreditor agreement is broadly defined as an agreement between one or more creditors who have shared interests in a particular borrower. This agreement is used …
Demystifying EB-5 Mezzanine Financing
View PostJuly 2015: New I-829 Petition, EB-5 Investment Coalition (EB-5IC) Report, and More
New Form I-829 Petition The USCIS uploaded a new Form I-829 Petition to their website. The newly uploaded petition is the 05/07/15 edition. USCIS will accept editions dated 3/11/13 or earlier only until 8/14/15. Note: Starting on 8/15/15, the USCIS will only accept the newly released 05/07/15 edition of the Form I-829 Petition. EB-5 Investment Coalition (EB-5IC) Report The EB-5 …
June 2015: New EB-5 Bill, EB-5 Stakeholder Engagement, and More
New EB-5 Bill Introduced On June 3rd, Charles Grassley (R-Iowa) and Patrick Leahy (D-Vermont) introduced S.1501 (American Job Creation and Investment Promotion Reform Act of 2015). This newly introduced EB-5 bill, co-sponsored by two influential senators, appears to currently have the strongest chance of passage. EB-5 Stakeholder Engagement On June 4th, the USCIS held an EB-5 Stakeholder Engagement with economists. …
May 2015: EB-5 Website Compliance, IIUSA EB-5 Impact Study, and More
Website Securities Compliance On May 7th, Catherine DeBono Holmes, Esq. and Victor T. Shum, Esq. released an interesting article titled The Basic Rules of Website Advertising for EB-5 Securities Offerings. This article is an important read for all Regional Center managers to help ensure continued website compliance with U.S. securities laws. A Roadmap to the Use of EB-5 Capital (NYU) …
April 2015: EB-5 Retrogression, Bush Family Ties, and EB-5 Processing Times
EB-5 Retrogression The National Law Review posted an article stating that “the EB-5 China immigrant visa category will retrogress beginning May 2015.” This information was obtained directly from Charles Oppenheim, Chief of the Visa Control and Reporting Division of the U.S. Department of State. It is important to note that EB-5 retrogression will only impact those individuals born in mainland …
March 2015: Mayorkas on the Hot Seat, Upcoming Stakeholder Meeting, and More
Mayorkas on the Hot Seat For the month of March, the majority of EB-5 related news revolved around a report released by the Department of Homeland Security’s (DHS) Inspector General. The EB-5 related report focused on three separate cases, involving major Democrats, in which Alejandro Mayorkas “created an appearance of favoritism and special access.” For more information, we invite you …
February 2015: Bloomberg Article, EB-5 Interactive Series, and Updated Processing Times
February proved to be a relatively quiet month in the world of EB-5. Bloomberg Article On February 13th, Bloomberg published an article titled SEC to Target Deals Giving Visas to Rich Foreign Investors. The article, citing people familiar with the matter, states that the SEC is preparing sanctions against as many as two-dozen immigration attorneys. “The most recent SEC foray …
January 2015: EB-5 Blog Introduces Month in Review, Terminated Regional Center List, and More
EB-5 Blog Introduces “Month in Review” January 2015 has been an active month for the EB-5 industry. In our new series titled “Month in Review” we will provide a synopsis of the top EB-5 news, articles and insights from the month before. EB-5 Legislative Developments On January 28, 2015, Colorado Congressman Jared Polis (D) along with Nevada Congressman Mark Amodei …
May 2015: EB-5 Website Compliance, IIUSA EB-5 Impact Study, and More
Website Securities Compliance On May 7th, Catherine DeBono Holmes, Esq. and Victor T. Shum, Esq. released an interesting article titled The Basic Rules of Website Advertising for EB-5 Securities Offerings. This article is an important read for all Regional Center managers to help ensure continued website compliance with U.S. securities laws. A Roadmap to the Use of EB-5 Capital (NYU) …
New U.S. China Visa Term Agreement
We received a couple of emails yesterday questioning the impact of the new visa agreement between the U.S. and China on the EB-5 industry. For those that have not yet heard, starting today (November 12th), China and the U.S. have agreed to begin granting each other’s citizens longer business, tourism and education visa terms. The White House has said that …
South Dakota Regional Center Fiasco
This past Tuesday, Republican Mike Rounds defeated Democrat Rick Weiland in the South Dakota Senate race. Rounds, the former governor of South Dakota, has remained in the spotlight throughout the entire election process for his involvement in mismanagement of the EB-5 program in South Dakota. During Rounds’ administration, the state of South Dakota offered green cards to foreign investors in …
The Great Chinese Exodus Benefits EB-5
This past weekend, the Wall Street Journal published a Saturday Essay titled The Great Chinese Exodus. “A survey by the Shanghai research firm Hurun Report shows that 64% of China’s rich – defined as those with assets of more than $1.6 million – are either emigrating or planning to.” Many in China are discovering that they can now buy a …
NY Times Immigration Reform Op-Ed
The New York Times ran an Op-Ed written by Sheldon Anderson, Warren Buffet and Bill Gates on the topic of immigration reform. The Op-Ed, titled Break the Immigration Impasse, strongly advocates for the EB-5 Program as well as for its continued reform efforts. [T]he EB-5 “immigrant investor program,” created by Congress in 1990, was intended to allow a limited number of …
Real Estate Corners the EB-5 Market
It is no secret that the vast majority of EB-5 Regional Centers pursue projects involving real estate development. Some of the most popular projects to date include office buildings, retail developments, and hotels. These type of real estate projects are suitable to the EB-5 Program because they are often able to show the required number of jobs for each EB-5 …
Demystifying EB-5 Mezzanine Financing
View PostReal Estate Corners the EB-5 Market
It is no secret that the vast majority of EB-5 Regional Centers pursue projects involving real estate development. Some of the most popular projects to date include office buildings, retail developments, and hotels. These type of real estate projects are suitable to the EB-5 Program because they are often able to show the required number of jobs for each EB-5 …
I-924A Reminder
View PostEB-5 Related Report Issued by DHS Inspector General
View PostInvestor Alert: EB-5 Escrow Agreements
View PostThe Untold Side of the Chicago Convention Center Fraud
Late last month, a federal grand jury brought criminal charges against Anshoo Sethi.1 The indictment, charging Mr. Sethi with eight counts of wire fraud and two counts of making false statements, brings with it the potential for a lengthy prison sentence. The maximum sentence, if convicted, would be 20 years for each of the fraud counts and an additional 10 …
The True Costs of Creating an EB-5 Regional Center
View PostApril 2015: EB-5 Retrogression, Bush Family Ties, and EB-5 Processing Times
EB-5 Retrogression The National Law Review posted an article stating that “the EB-5 China immigrant visa category will retrogress beginning May 2015.” This information was obtained directly from Charles Oppenheim, Chief of the Visa Control and Reporting Division of the U.S. Department of State. It is important to note that EB-5 retrogression will only impact those individuals born in mainland …
China EB-5 Visa Category is “Unavailable”
Last week we published an article titled The Great Chinese Exodus Benefits EB-5, which discussed the continued high Chinese demand for the EB-5 program. The issue of high Chinese demand was finally addressed this past weekend at the 2014 AILA EB-5 Investors & Regional Centers Conference in Chicago where Charles Oppenheim (Chief of Immigrant Visa Control & Reporting) announced that …