July 29th, 2009 |
Our senior partner Stephen Parnell was recently interviewed regarding the EB-5 visa program. We now have available a limited number of CD’s containing the complete interview (45 minutes) for our clients and interested parties. The interview covered many useful topic including:
 Relocation to the United States; is it viable for me? How regional centers actually work. How long is the process for obtaining my Green Card? What are the qualifications for an EB-5 visa applicant? Are their any viable alternatives to the EB-5 visa program? What fees does an EB-5 investor pay? Why are Which EB5 different; why should we use you as opposed to an immigration attorney? How do I select which EB-5 regional center to invest in? What are the risks? What’s the one thing I need to be sure of before choosing an EB5 investment visa program? What information do I need from a regional center? Are their different types of regional centers? Exactly what is an EB5? Do the government of the USA support this program?
Update: Since the recording of this interview (only a few weeks ago) the EB-5 visa program has added additional regional center choices. The need for independent information in the choice of investment program is now stronger than ever. In this interview Stephen Parnell shares his experience and world views that should be useful for anyone considering an EB-5 investment as their route to permanent residence in America.
There are two ways to get your copy of this interview: If you are already registered with us you can request a copy via email to info@WhichEB5.com : If you are not already registered with us you can request a copy of the interview and receive information on your regional center options by completing this short form now.
 Here is a sample from the interview: Green Card via the Red Carpet - Green Card via the Red Carpet - Audio interview of Stephen Parnell
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Tags: eb-5, green card, immigration attorney, investment visa, permanent residence, regional center, stephen parnell, united states, USA, visa, Which EB-5
Posted in Immigration | No Comments » |
July 28th, 2009 |
Choosing which EB-5 regional center program is right for you is a process that people seem to carry out in very different ways; as you would expect when selecting anything this important.
This week we will take a look at how various families have approached this process.
Some people surf the Internet and request as many brochures as they can find, typically they end up with a mass of information which makes lots of claims purporting to be the ideal place for them to invest. Using this method is difficult enough when selecting a new home or car but when investing $500,000 and placing your family’s future on the line it offers you many specific challenges.
Having now spent several years researching regional center program’s, and with the likelihood of 100 plus programs being available within the next few months, we have researched hundreds of pieces of marketing material, sales brochures, DVD’s, CD’s and other media. We then compare this marketing material with what we come across when we actually visit various centers.
One concern we have is that the quality, sophistication and quantity of information is not always a reflection of what you are looking for. For most families that is obtaining your EB5 greencard as smoothly as possible, having conditions removed from your green card after two years and getting your investment returned ,preferably in the time frame that USCIS focuses on.
To discuss this or any other EB-5 related question or concern please contact the partners at Which EB5 by clicking here now.
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Tags: eb-5, eb5, greencard, regional center, uscis, Which EB-5
Posted in Immigration | No Comments » |
July 24th, 2009 |
This week’s Senate Committee hearings on the future of the EB5 greencard program heard testimony from a number of experts including a respected Cornell law professor and attorney, the USCIS Service Center operations deputy chief and the heads of a number of regional center programs. Evidence presented to the Senate emphasized the importance of the growing number of regional centers to their respective economies.
Analyzing some of the points made in support of certain regional centers may raise concerns with investors about the exit strategy when several years later investors want to cash in the $500,000 investment that got them their EB-5 green card in the first place.
To qualify for pilot program regional center status, programs are generally in areas that are suffering economically and need jobs and thus the projects play an important job creation role in these regions. However, on the other side, the majority of investors are hoping to see the return of their $500,000 capital investment which is typically dependent on the success of the program they invested in.
Concerns could be raised by potential investors with some programs where the focus is on real estate leisure property and the description of the location of the project, as described at the hearing yesterday, causes concern in relation to its attractiveness to potential buyers who will eventually be sellers of the asset at a future date. – We are doing further follow up analysis on this issue and will be able to advise our clients accordingly.
You should contact Which EB5 for in-depth analysis and advice by clicking on this link now.
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Tags: eb-5, eb5, green card, greencard, investment, pilot program, regional center, uscis, Which EB-5
Posted in Immigration | No Comments » |
July 23rd, 2009 |
For many of the families who have immigrated to the USA on the EB-5 visa the experience has been a positive one. They now live in the country of their dreams in return for investing $500,000 for a period of years in the USA while facilitating the creation of 10 jobs for American workers. The concept seems a fair one and a win-win situation for the investor immigrant and the USA.
However, in our “all-may-not-be-what-it-seems” investigations we have identified a number of potential pitfalls in the process and today we look briefly at some of the sales claims made by less than honest agents promoting particular programs.
Some regional centers focus their marketing efforts using agents in various overseas countries – after all they speak the language and know the local market. Problem can arise when greed enters the equation and the agent publishes marketing material with fictional claims and exaggeration.
Our research department monitors EB-5 Green Card information from all over the world and has unfortunately come across some real blatant and sometimes outrageous exaggeration. For example; a regional center with only a few investors where an agent’s brochure has added several additional zeros to the numbers of successful investors; this would mean the number of investors in their program is greater than the total numbers of the entire EB-5 pilot program over the past four years! Would a non-English speaking investor realize this discrepancy if they did not have independent advice?
We have found other examples of sales propaganda in overseas sales material including a program alleging they are operated by the US government, in fact it is a State government that works with them.
The sad thing is all this exaggeration is unnecessary - The EB-5 regional center program offers an excellent opportunity to fulfill many immigrants’ dreams and at the same time help their adopted country at an important time. For more detailed information on different programs contact Which EB5 professional advisers here.
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Tags: eb-5, green card, investment, pilot program, regional center, USA
Posted in Immigration | No Comments » |
July 22nd, 2009 |
Many of our clients looking at the various options for an EB-5 visa may start by posing the question, “how many I-526’s have been approved to date and what is the success rate”. The question is certainly a reasonable one – with forecasts of approximately one hundred regional centers offering the EB-5 visa by the end of this year you do have to start your research somewhere to help narrow down your options.
However, let’s examine the implications of this question in more detail – say the answer to your question above is several hundred and the success rate is 100% where does that leave you?
1. The figure may relate to certain specific programs and the center may currently be offering different programs that could produce less favorable results.
2. The figures do not tell you if the centers have experienced a significant number of requests for further evidence (RFE) and the delays they may have caused.
3. The figures do not necessarily help you determine when or even if you will get some or all of your money back at the end of the investment; that is a completely different matter.
4. The figures do not tell you how secure the programs job creation plans are and importantly how they may be in terms of policy interpretations by USCIS.
The need for detailed independent discussions before opting for a regional center program has never been greater and over the next few days Which EB5 will cover more issues for you to consider – to sign up for the Which EB5 blog and receive information on previous blogs click here now.
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Tags: eb-5, I-526, investment, regional center, uscis, visa
Posted in Immigration | No Comments » |
July 21st, 2009 |
With so many regional center programs now offering the EB-5 investment visa, choosing the most appropriate options for you can be daunting. The choice can be further complicated when the marketing and sales hype highlights attention grabbing points, such as a potentially great rate of interest on your investment or superfluous extras such as a free trip to a resort.
The problem for most people when choosing the EB-5 visa route is that their focus should be on two vital considerations:
1. Will the promised jobs actually be created so that at I-829 petition filing stage (removal of conditions) I can be fairly sure that I will get my permanent Green Card?
2. Will I ever see the return of my $500,000 investment, if so when – it would seem counterproductive to receive a high rate of return on the investment for a few years if the investment fails and your $500,000 disappears!
So what should you do?
Focus on looking at the cold hard facts rather than the sales and marketing promises. For more cold hard facts make sure you don’t miss any of our blogs by registering for Which EB5 updates here.
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Tags: eb-5, green card, I-829, investment, investment visa, regional center, Which EB-5
Posted in Immigration | No Comments » |
July 17th, 2009 |
Today we look at an Irish family who had significant agricultural holdings in Ireland and wanted to provide an elevated standard of living for their family by relocating permanently to the U.S.A.
The family had been monitoring the progress of the EB-5 visa for several years. They had originally purchased property on the east coast of Florida and taken lengthy holidays/vacations to see how they would adjust to the American way of life. They then purchased other properties for rental, taking advantage of the bottoming of the property market and to build an earnings portfolio for eventual relocation.
They required a visa route that offered permanent residency and green cards for all the family, and wished to increase their property portfolio once resettled in Florida.
After a detailed briefing with us they decided the EB5 pilot program was the most appropriate option and looked into the various programs in more detail. They emphasized that they required a program which had not suffered from long processing delays caused by requests for further evidence by the USCIS (RFE’s), they also wanted a program that had previously complied with job requirements and had a clear and specific exit strategy.
After investigating the alternatives and narrowing it down to two options they opted for an infrastructure project which to date has a 100% track record of approval. Following clarification on a number of issues they invested $500,000 – plus regional center administration and attorney fees.
The family decided to sell their business and property assets in Ireland which provided them with total net worth well in excess of the required figure. The I-526 approval took three months and the couple were then interviewed at the U.S. Consulate and granted visas.
If you are planning to retire permanently to the USA and are interested in the EB5 regional center pilot program you can contact the partners of Which EB-5 for a personal consultation using this link
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Tags: american, eb-5, florida, Irish, job requirements, pilot program, regional center, Relocation, request for further evidence, RFE's, USA, uscis, visa, Which EB-5
Posted in Immigration | No Comments » |
July 16th, 2009 |
New Requirement For Foreign Investment In The United States
(Issued By US Department Of Commerce)
The US Department of Commerce has issued a new 15 page form (BE-605) which must be filed when an initial investment is made in the US, and quarterly thereafter. The potential penalty for noncompliance is $2,500-$25,000. The requirement applies to an investment in US real estate (improved and unimproved) as well as an investment in a US business. It applies when a foreign individual or foreign entity acquires an interest of 10% or more in a US business or US real estate.
Fortunately, the requirement does not apply to the purchase of residential real estate held exclusively for personal use and not for profit-making purposes.
Modified Filing.
In addition, there is a modified filing if your total assets, sales or gross operating revenues, and net income (or loss) do not exceed $30 million. In this case:
1. You are only required to complete pages 1 through 3 and pages 13 and 15 of Form BE-605, and
2. There is only an initial filing and not quarterly filing requirements, as long as your activities remain under the $30 million threshold limits mentioned above.
This new rule may or may not apply to EB-5 investors. If you are considering an EB5 regional center investment please feel free to contact us for a referral to an international tax specialist for help.
For continuous free updated information subscribe by clicking here now.
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Tags: eb-5, eb5, foreign investment, regional center, united states
Posted in Relocation | No Comments » |
July 16th, 2009 |
Today we look at a case study that relates to an Australian family who wished to relocate to Florida.
The husband owned large specialist employment businesses in Australia and the UK. He required a visa route that offered permanent residency and green cards for all the family – with older teenage children he was concerned that other visa types might present too much risk for their future.
After a briefing with us they decided to look at the EB-5 pilot program in more detail and subsequently decided to invest $500,000 in a Limited Partnership under a Regional Center in a Targeted Employment area. The Project involved the demolition, renovation and construction of a warehouse/storage complex for mixed use.
The family decided to sell their business and property assets which provided them with total net worth well in excess of the required (by regulation) million dollar figure.
The family wanted an Attorney based in Florida with a track record of working on EB-5 applications and also had a number of questions for us regarding possible locations to resettle in, the schooling system, moving, property, transfer of pets, health coverage etc.
The I-526 approval took several months and the couple were then interviewed at the U.S. Consulate and granted visas.
We have continued to keep in touch and checked out issues that have cropped up with them for the benefit of new clients, a key one being the exit strategy of the program they opted for in the light of the world downturn and subsequent attractive projects coming on the market.
If you are planning to retire permanently to the USA and are interested in the EB5 regional center pilot program you can contact the partners at Which EB-5 using this link.
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Tags: attorney, eb-5, exit stratergy, florida, green card, I-526, regional center, relocate, retire, targeted employment area, visa, Which EB-5
Posted in Immigration | No Comments » |
July 15th, 2009 |
We have been looking at the reasons why the EB5 visa has been of interest to particular groups of immigrants and today we look at a case study taken from one of our previous 100+ investors - this relates to a citizen of Pakistan who wished to change his visa from the H-1B to the EB-5 to live permanently in the USA.
The gentleman had relocated to the USA eight years ago, initially as a student on an F1 visa. After graduation he worked for a major finance company in New York. After working for a few years on the H1B visa, and wishing to file for permanent residency in the United States, he faced a lengthy waiting period required for the labor certification during the first stage of the employment-based permanent residency application. This situation had been further complicated by the distressed economy. He and his wife were also fast approaching the end of the six years allowed under their H-1B visas. An inability to renew their H-1B’s, despite both their desire to remain in their respective jobs and the willingness of their respective company’s to help, could have necessitated their departure from the USA.
After meeting Stephen Parnell during a Which EB5 discovery day in New York city, he looked at the EB-5 regional center pilot program in more detail. A successful project track record, quick processing time and an investment with a project that offered a specific exit strategy were some of the important criteria that he considered in reaching his decision. Once he had completed his diligence on the projects that met his criteria, he decided to invest the requisite $500,000 in a limited partnership project in an approved and proven regional center program for the development of an infrastructure project in California. The funds are loaned to a development agency to fund the redevelopment and renovation of a redundant government facility for commercial use. The entire process took a little over four months from beginning to end, with the I-526 approval taking three months, and the green card arriving little over a month later.
If you are currently on an H-1B visa and need to look for an alternative route to permanent residence click here now.
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Tags: california, citizen, eb-5, eb5, employment based, F1 visa, green card, H-1B, I-526, investors, labor certification, New York City, Pakistan, quick processing time, regional center, stephen parnell, USA, visa
Posted in Immigration | No Comments » |
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