A potential investor should consider a host of variables when choosing an EB-5 Regional Center. In short, an investor has to do his or her due diligence. Below is a short list of some questions an investor might consider:
1) How many I-526 petitions have been filed by investors in the Regional Center and approved by USCIS? A successful Regional Center will have a large number of approvals.
2)How many I-829 peitions have been filed by the Regional Center and approved by USCIS? This is a very important measure of the success of the Regional Center because an approved I-829 removes the conditions on an investor's conditional green card.
2) What is the business structure of the Regional Center? Limited Liaibility Partnership may offer the most flexibility for an investor.
3) Are the Regional Center's projects loan based or equity based? This may be important to the investor because whether the Regional Center is loan based or equity based may determine the ease with ehich an investor may withdraw his/her money at the end of the investment period.
Friday, December 23, 2011
Friday, November 18, 2011
USCIS: A Work in Progress: Towards a New Draft Policy Guiding EB-5 Adjudications
USCIS recently released this draft memorandum regarding the EB-5 program. It is a good introduction to the EB-5 process from beginning to end. It answers many of the questions potential investors may have regarding the process. I have attached it post it in its entirety on this blog.
http://www.uscis.gov/USCIS/Outreach/Feedback%20Opportunities/Draft%20Memorandum%20for%20Comment/EB_5_Adjudications_Policy3.pdf
Please direct any questions to your New York Immigration EB-5 attorney at RMaher@RobertMaherLaw.com, 212-939-7548
http://www.uscis.gov/USCIS/Outreach/Feedback%20Opportunities/Draft%20Memorandum%20for%20Comment/EB_5_Adjudications_Policy3.pdf
Please direct any questions to your New York Immigration EB-5 attorney at RMaher@RobertMaherLaw.com, 212-939-7548
Monday, November 14, 2011
What are the benefits of investing in an EB-5 Regional Center?
There are some advantages to investing in a Regional Center as opposed to applying for an EB-5 visa by investing in a new or troubled business. Investing in Regional Center provides two main benefits. First, the Regional Center Program has a less restrictive job creation requirement because it permits the use of indirect jobs towards the requirement that the investment create ten jobs. Second, Regional Centers require less day to day involvement on the part of the investor. The investor usually needs to live in the same location as a commercial enterprise that is not part of a Regional Center because the investor needs to manage the day to day operations of the commercial enterprise.
A potential investor should consult an attorney before beginning the EB-5 process. If you have any questions, please feel free to contact me, your New York EB-5 Attorney, at RMaher@RobertMaherLaw.com. My phone number is 212-939-7548, or look for me on Skype: rmaher1
A potential investor should consult an attorney before beginning the EB-5 process. If you have any questions, please feel free to contact me, your New York EB-5 Attorney, at RMaher@RobertMaherLaw.com. My phone number is 212-939-7548, or look for me on Skype: rmaher1
Monday, November 7, 2011
Can a Chinese investor apply for an EB-5 visa? The government only permits Chinese people to transfer fifty thousand dollars out of the country each year.
Yes. Chinese investors can participate in the program, and it is very popular. Since the government of China has export controls on currency that permit Chinese citizens to transfer no more than an equivalent of fifty thousand dollars per year out of the country, EB-5 investors use several methods to transfer money out of China, and there are several questions about whether some of the methods utilized are permitted.
Can I transfer money through friends?
Yes. Many investors open a checking account in Hong Kong or Singapore. They then divide the five hundred thousand dollar investment into ten fifty thousand dollar portions and ask ten friends each to transfer the money to their Hong Kong account.
Can I open an account overseas and have a friend transfer money from her account to my account?
Yes. this method has been utilized by investors. This method requires a friend with an overseas account and an account in China. The investor transfers five hundred thousand dollars to the friend's Chinese account. The overseas friend then transfers five hundred thousand dollars from his/her account to the investor's overseas account.
The key to transferring funds is to document every transfer very carefully. USCIS looks at the source of investor's funds very seriously. It it important that the investor be able to trace all transfers.
Please feel free to contact New York Immigration Attorney Robert J. Maher, Esq. with any questions: http://www.robertmaherlaw.com
Can I transfer money through friends?
Yes. Many investors open a checking account in Hong Kong or Singapore. They then divide the five hundred thousand dollar investment into ten fifty thousand dollar portions and ask ten friends each to transfer the money to their Hong Kong account.
Can I open an account overseas and have a friend transfer money from her account to my account?
Yes. this method has been utilized by investors. This method requires a friend with an overseas account and an account in China. The investor transfers five hundred thousand dollars to the friend's Chinese account. The overseas friend then transfers five hundred thousand dollars from his/her account to the investor's overseas account.
The key to transferring funds is to document every transfer very carefully. USCIS looks at the source of investor's funds very seriously. It it important that the investor be able to trace all transfers.
Please feel free to contact New York Immigration Attorney Robert J. Maher, Esq. with any questions: http://www.robertmaherlaw.com
Wednesday, November 2, 2011
What is the difference between a Regional Center and the traditional EB-5 program?
The EB-5 program gives the investor two options: invest in a regional center or apply for conditional residence through the traditional EB-5 program. The Regional Center option is a Pilot Program that was created by Congress in 1992 and expires on September 30, 2011. USCIS defines a regional center as “any economic entity, public or private, which is involved with the promotion of economic growth, improved regional productivity, job creation and increased domestic capital investment.”
In order to gain regional center status, the Regional Center organizers have to submit a proposal to USCIS, supported by economically or statistically valid forecasting tools, demonstrating its plan for the following:
• How the regional center plans to focus on a geographical region within the United States. The proposal must explain how the regional center will promote economic growth in that region.
• How, in verifiable detail (using economic models in some instances), jobs will be created directly or indirectly through capital investments made in accordance with the regional center’s business plan.
• The amount and source of capital committed to the regional center and the promotional efforts made and planned for the business project.
• How the regional center will have a positive impact on the regional or national economy
The “traditional” EB-5 program is a little different. In this case, the immigrant investor invests in a new commercial enterprise, one that was established after November 29, 1990, or prior to November 29, 1990 that is being reorganized or restructured in such a way that a new commercial enterprise results or expanded that there is a forty percent increase in the net worth or in the number of employees. This definition does not include noncommercial activity such as owning and operating a personal residence.
Under the traditional EB-5 program, the investment must create at least ten full-time jobs within two years of the investor’s admission into the United States as a conditional resident. Unlike the Regional Center, the jobs have to be created directly. Indirect job calculation is not permitted.
Please feel free to contact New York Immigration Attorney Robert J. Maher, Esq. with any questions: http://www.robertmaherlaw.com
The EB-5 program gives the investor two options: invest in a regional center or apply for conditional residence through the traditional EB-5 program. The Regional Center option is a Pilot Program that was created by Congress in 1992 and expires on September 30, 2011. USCIS defines a regional center as “any economic entity, public or private, which is involved with the promotion of economic growth, improved regional productivity, job creation and increased domestic capital investment.”
In order to gain regional center status, the Regional Center organizers have to submit a proposal to USCIS, supported by economically or statistically valid forecasting tools, demonstrating its plan for the following:
• How the regional center plans to focus on a geographical region within the United States. The proposal must explain how the regional center will promote economic growth in that region.
• How, in verifiable detail (using economic models in some instances), jobs will be created directly or indirectly through capital investments made in accordance with the regional center’s business plan.
• The amount and source of capital committed to the regional center and the promotional efforts made and planned for the business project.
• How the regional center will have a positive impact on the regional or national economy
The “traditional” EB-5 program is a little different. In this case, the immigrant investor invests in a new commercial enterprise, one that was established after November 29, 1990, or prior to November 29, 1990 that is being reorganized or restructured in such a way that a new commercial enterprise results or expanded that there is a forty percent increase in the net worth or in the number of employees. This definition does not include noncommercial activity such as owning and operating a personal residence.
Under the traditional EB-5 program, the investment must create at least ten full-time jobs within two years of the investor’s admission into the United States as a conditional resident. Unlike the Regional Center, the jobs have to be created directly. Indirect job calculation is not permitted.
Please feel free to contact New York Immigration Attorney Robert J. Maher, Esq. with any questions: http://www.robertmaherlaw.com
Thursday, October 20, 2011
What is an EB-5 Visa?
What is an EB-5 visa?
In short, the EB-5 visa is an investor visa whereby in exchange for an investment of five hundred thousand or one million dollars, depending on the geographic are where the investment is made, the investor and his or her immediate family is eligible for a conditional green card if several statutory requirements are met. The statutory requirements for the EB-5 visa can be found under section 203(b) (5) of the Immigration and Nationality Act (INA), 8 U.S.C. § 1153(b) (5). One year and nine months after receiving conditional residence status, the investor files Form I-829, “Petition by Entrepreneur to Remove Conditions.” If the petition demonstrates that the investor has met the requirements of Section 203(b) (5), conditions are removed and the investor becomes a permanent resident.
Please feel free to contact New York Immigration Attorney Robert J. Maher, Esq. with any questions: http://www.robertmaherlaw.com
In short, the EB-5 visa is an investor visa whereby in exchange for an investment of five hundred thousand or one million dollars, depending on the geographic are where the investment is made, the investor and his or her immediate family is eligible for a conditional green card if several statutory requirements are met. The statutory requirements for the EB-5 visa can be found under section 203(b) (5) of the Immigration and Nationality Act (INA), 8 U.S.C. § 1153(b) (5). One year and nine months after receiving conditional residence status, the investor files Form I-829, “Petition by Entrepreneur to Remove Conditions.” If the petition demonstrates that the investor has met the requirements of Section 203(b) (5), conditions are removed and the investor becomes a permanent resident.
Please feel free to contact New York Immigration Attorney Robert J. Maher, Esq. with any questions: http://www.robertmaherlaw.com
Saturday, September 24, 2011
China's Wealthy Wish to Leave?
Part II
http://www.nytimes.com/2011/09/08/opinion/chinas-rise-isnt-our-demise.html?scp=5&sq=biden&st=cse
Shortly after my last post, the New York Times published Vice President's op-ed piece linked to above. I think the take away from this article is that the futures of the economies of the United States and China are deeply intertwined. What does this mean practically? As V.P. Biden pointed out in his editorial, the United States and China continue to export manufactured goods to each other. One area of exchange not addressed by his editorial, but of note, is the exchange of human capital between the two nations. According to a New York Times Article published in May 2011, "Coaching and Much More for Chinese Students Looking to U.S.," there has been a significant increase in the number of Chinese undergraduate students studying in the United States, and that the number was fifty-percent higher for the 2009-2010 school year than the previous year. http://www.nytimes.com/2011/05/30/business/global/30college.html?_r=1&pagewanted=all%22%3E%3C/a%3E."
What does this mean in terms of immigration?
In terms of immigration, this means that the sheer number of Chinese students applying for student visas has increased. A by-product of this demand is related to the issues raised in my previous blog, entitled "China's Wealthy Wish to Leave." Parallel to the increase in Chinese students seeking higher education in in the United States is an increased desire on the part of wealthy Chinese citizen to leave China which in turn has led to an increase in the number of applications for EB-5 visas on the part of those same wealthy Chinese individuals. Why are these visas gaining in popularity as opposed to other forms of immigration?
http://www.nytimes.com/2011/09/08/opinion/chinas-rise-isnt-our-demise.html?scp=5&sq=biden&st=cse
Shortly after my last post, the New York Times published Vice President's op-ed piece linked to above. I think the take away from this article is that the futures of the economies of the United States and China are deeply intertwined. What does this mean practically? As V.P. Biden pointed out in his editorial, the United States and China continue to export manufactured goods to each other. One area of exchange not addressed by his editorial, but of note, is the exchange of human capital between the two nations. According to a New York Times Article published in May 2011, "Coaching and Much More for Chinese Students Looking to U.S.," there has been a significant increase in the number of Chinese undergraduate students studying in the United States, and that the number was fifty-percent higher for the 2009-2010 school year than the previous year. http://www.nytimes.com/2011/05/30/business/global/30college.html?_r=1&pagewanted=all%22%3E%3C/a%3E."
What does this mean in terms of immigration?
In terms of immigration, this means that the sheer number of Chinese students applying for student visas has increased. A by-product of this demand is related to the issues raised in my previous blog, entitled "China's Wealthy Wish to Leave." Parallel to the increase in Chinese students seeking higher education in in the United States is an increased desire on the part of wealthy Chinese citizen to leave China which in turn has led to an increase in the number of applications for EB-5 visas on the part of those same wealthy Chinese individuals. Why are these visas gaining in popularity as opposed to other forms of immigration?
Thursday, September 8, 2011
China's Wealthy wish to leave?
http://finance.yahoo.com/news/Top-of-Chinese-wealthys-wish-apf-3316521730.html?x=0&.v=5
Part I
The above links to an article that is is both timely and telling. Many in the West sometimes react to the news of China's economic ascendancy with the attitude that the U.S. is in a state of permanent decline. They believe that China is "cleaning our clock" and China will dominate the twenty-first century economically and politically because of its growing economic might.
All of the above may or may not be true. However, this article and a recent trip to China suggest that the old adage, "All that glitters is not gold" may apply to the current situation. I had the opportunity to meet several Chinese people, primarily attorneys. My friends(a sample much smaller than the linked article) echoed the sentiment of the article. Wealthy people want to leave, and they want to come to the United States. One person I met, a lawyer, we'll call her Ms. Lu, expressed concern with upcoming changes in the country's leadership (the President and Premier are term limited) and uncertainty about which direction the government's strategy for economic development will take. She also expressed concern about the growing gap between rich and poor and the effect that will have on the stability of the country.
Ms. Lu's concerns with changes in the government and instability are not surprising. I had the opportunity to live in China during the 1999-2000 academic year. i taught Writing, Western Civilization, U.S. and British Literature to undergraduate and graduate students at Yunnan University, in Kunming. My students expressed similar sentiments. Eleven years later there is a new concern, however. It is inflation. The cost of living in eastern cities like Beijing and Shanghai has skyrocketed. Rent and the cost of food make it difficult for everyone but the wealthiest to afford to live in these areas.
None of this is to suggest that the United States is or is not in decline or that it is better or than or worse than China, in some regard. The truth is that the two societies are involved in a complex and nuanced relationship that deserves more attention than we often are willing to pay.
What other issues color U.S. China relations? I will further address that question and others in part II of this Post.
Part I
The above links to an article that is is both timely and telling. Many in the West sometimes react to the news of China's economic ascendancy with the attitude that the U.S. is in a state of permanent decline. They believe that China is "cleaning our clock" and China will dominate the twenty-first century economically and politically because of its growing economic might.
All of the above may or may not be true. However, this article and a recent trip to China suggest that the old adage, "All that glitters is not gold" may apply to the current situation. I had the opportunity to meet several Chinese people, primarily attorneys. My friends(a sample much smaller than the linked article) echoed the sentiment of the article. Wealthy people want to leave, and they want to come to the United States. One person I met, a lawyer, we'll call her Ms. Lu, expressed concern with upcoming changes in the country's leadership (the President and Premier are term limited) and uncertainty about which direction the government's strategy for economic development will take. She also expressed concern about the growing gap between rich and poor and the effect that will have on the stability of the country.
Ms. Lu's concerns with changes in the government and instability are not surprising. I had the opportunity to live in China during the 1999-2000 academic year. i taught Writing, Western Civilization, U.S. and British Literature to undergraduate and graduate students at Yunnan University, in Kunming. My students expressed similar sentiments. Eleven years later there is a new concern, however. It is inflation. The cost of living in eastern cities like Beijing and Shanghai has skyrocketed. Rent and the cost of food make it difficult for everyone but the wealthiest to afford to live in these areas.
None of this is to suggest that the United States is or is not in decline or that it is better or than or worse than China, in some regard. The truth is that the two societies are involved in a complex and nuanced relationship that deserves more attention than we often are willing to pay.
What other issues color U.S. China relations? I will further address that question and others in part II of this Post.
Saturday, August 13, 2011
Welcome
I will be traveling to Beijing China shortly for business and will be posting on topics related to U.S/China relations, especially in the areas of immigration and trade between the two nations.
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