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Updated EB-5 Processing Times

In Announcements, EB-5 News, I-526, I-829, I-924 by EB-5 Blog Staff

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 …

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July 2015: New I-829 Petition, EB-5 Investment Coalition (EB-5IC) Report, and More

In Announcements, EB-5 Financing, EB-5 News, I-829, Investor Alerts, Month in Review by EB-5 Blog Staff

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 …

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June 2015: New EB-5 Bill, EB-5 Stakeholder Engagement, and More

In Announcements, EB-5 Job Creation, EB-5 News, Economic Impact Models, I-526, I-829, I-924, Legislative Developments, Month in Review by EB-5 Blog Staff

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. …

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May 2015: EB-5 Website Compliance, IIUSA EB-5 Impact Study, and More

In Announcements, EB-5 Job Creation, EB-5 News, Month in Review, Policy Considerations by EB-5 Blog Staff

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) …

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April 2015: EB-5 Retrogression, Bush Family Ties, and EB-5 Processing Times

In Announcements, EB-5 China, EB-5 News, I-526, I-829, I-924, Month in Review, Retrogression by EB-5 Blog Staff

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 …

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March 2015: Mayorkas on the Hot Seat, Upcoming Stakeholder Meeting, and More

In Announcements, EB-5 News, I-526, I-829, I-924, Month in Review by EB-5 Blog Staff

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 …

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February 2015: Bloomberg Article, EB-5 Interactive Series, and Updated Processing Times

In Announcements, EB-5 News, Month in Review by EB-5 Blog Staff

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 …

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January 2015: EB-5 Blog Introduces Month in Review, Terminated Regional Center List, and More

In EB-5 News, Legislative Developments, Month in Review by EB-5 Blog Staff

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 …

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The Start of a Perilous Year for the EB-5 Program

In Announcements, EB-5 News, Legislative Developments by EB-5 Blog Staff

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 …

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South Dakota Regional Center Fiasco

In Announcements, EB-5 News, Policy Considerations by EB-5 Blog Staff

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 …

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The Untold Side of the Chicago Convention Center Fraud

In Announcements, EB-5 Financing, EB-5 News, Escrow Agreements, Regional Centers by Cristian Bratescu

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 …

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China EB-5 Visa Category is “Unavailable”

In Announcements, EB-5 China, EB-5 News, Retrogression by EB-5 Blog Staff

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 …

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NY Times Immigration Reform Op-Ed

In Announcements, EB-5 Job Creation, EB-5 News, Policy Considerations by EB-5 Blog Staff

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 …