Yesterday, the Obama administration announced potential changes that could significantly impact the EB-5 investor visa program. The EB-5 investor visa was originally established by Congress in 1990 to attract foreign investment and stimulate the economy in hopes of spurring job creation in the United States.
Earlier this year, bipartisan legislation was introduced that would permanently authorize the EB-5 Immigrant Investor Pilot Program. Rather than pass the legislation, the U.S. House of Representatives passed a Continuing Resolution that included a provision to the extend the EB-5 program “as is” through December 11, 2015. Continue reading “EB-5 Legislative Update”
During its most recent stakeholders teleconference, U.S. Citizenship & Immigration Services (USCIS) reminded participants that regional center reports for 2015 Fiscal Year were due on October 1, 2015, and must be filed by no later than December 29, 2015. USCIS recommended that regional centers complete all fields on Form I-924A, and timely file the required reports. Continue reading “EB-5 Regional Center Annual Reports are Due by December 29, 2015”
The new “two-pronged” priority date system announced recently by the U.S. State Department appears, thus far, to promise more of the same for foreign nationals in historically over-subscribed visa categories. Continue reading “New System, Same Result”
Despite the fact that parts of President Obama’s executive actions on immigration currently are being challenged in court, the administration is moving forward with its promise to modernize our antiquated immigration system. Continue reading “Moving Into the 21st Century”
The Department of State has released its Visa Bulletin for May 2015 and, as predicted back in October 2014 by Chief of the Visa Control and Reporting Division, Charles Oppenheim, the EB-5 category will retrogress for nationals of China. The cut-off for processing will be May 1, 2013. The cut-off date for a foreign national is established by the filing date of the I-526 Immigrant Petition by Alien Entrepreneur and is shown on the receipt notice in the “Priority Date” box. As such, Chinese nationals who wish to adjust their status to legal permanent resident in May 2015 must have a priority date of May 1, 2013 or earlier. Continue reading “EB-5 Retrogresses By Two Years in May 2015 for Nationals of China”
If it’s not bad news, it won’t get good ratings? When Nightline recently reported on the EB-5 program, “Whistleblowers: US gave visas to suspected Forgers, Fraudsters, Criminals,” alleging that it is prone to fraud, they were looking for good ratings. Why not report on what the EB-5 program does for the U.S. economy? Why not report about foreign nationals bringing large amounts of money to the U.S. to invest in businesses with the requirement that they create full time jobs for TEN U.S. WORKERS? Continue reading “Come on, Nightline?!”