September 7th, 2010 |
 Which EB-5 Regional Center Projects have Failed? To give you some background into this blog I should explain that my business partner and I at Which EB5 have very different personalities. Generally this difference works well for the benefit of our clients, particularly in identifying the strength and weaknesses of regional center programs.
We recently discussed a number of regional centers where some investors had experienced problems. For example, in the case of one center failed I-526’s, in the case of another center, failed I-829’s and a third center where not enough people had invested to allow the program to fully fund.
Obviously when discussing this we could see plainly enough the negatives of those particular programs, indeed we had raised issues regarding these centers many months before with our clients who had chosen other perhaps more proven options. By the way, for those of you about to invest who would like the names of the centers with the problems contact us and we will go through these with you.
We subsequently undertook quite a lot of research on these issues and delving deeper into the circumstances came up with some interesting information regarding what happened to some of the investors in those particular programs. We were surprised to discover that a number of these investors had decided to reinvest in another program and their choice of one particular program was quite enlightening.
We found the actions of these investors somewhat intriguing in that clearly anyone who had been through a program and failed had to be more cautious regarding their choice of regional center programs, much more so than the average investor as they are able to apply lessons from their previous bad experiences. We therefore thought it would be useful to look in more detail at the programs they had subsequently chosen, and why. For those of you currently considering the regional center program contact us and we will be happy to go through all this information with you.
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Tags: failed, I-526, I-829, investors, regional center, research, Which EB-5
Posted in Immigration | No Comments » |
August 25th, 2010 |
We now have 111 regional centers approved by USCIS to take your $500,000 in exchange for a Green Card. How do you choose the right regional center for you?
The problem is a regional center directory is just that, a directory, and a dangerous one at that. The information contained may provide the basics but it is what it does not contain that can be a potentially serious issue.
- An EB-5 directory does not tell you which of these centers have returned all the original $500,000 of investors’ funds and which have not.
- A directory does not give you an independent analysis of the positives and negatives found when an impartial expert visits the center.
- A directory does not tell you which of these centers have been subject to negative comments in trade and local newspapers.
- A directory does not tell you which centers have specific economic models which many immigrants are looking on with favor in the current economic climate.
These are just a few examples of why we feel a directory alone is potentially dangerous and why you need to know the positives and negatives of the regional centers you may be looking at – for information on exactly how to choose an EB5 regional center contact us using the form on the right. or call ++1-561-771-1330
Directory of EB-5 Regional Centers
Alabama -America’s Center for Foreign Investment
Arizona – Arizona EB-5 Regional Center
California – Alliance Regional Center
American Logistics (International) Regional Center
American Redevelopment Regional Center
Bay Area Regional Center
California Consortium for Agricultural Export (CCAE)
California Green Regional Center
California Global Alliance Regional Center
California Investment Immigration Fund
California Military Bases (CMB)
California Wineries and Vineyards
FDIUS Regional Center
FFC-East Bay Regional Center
El Monte Regional Center
Green Energy Regional Center
Imperial Regional Center
Los Angeles Regional Center C/O American Dream Fund
Los Angeles Regional Center California Film Commission
M&D Regional Center, Regional Center Properties
Northern California Regional Center, LLC
Regional Center Management Los Angeles
Riverside PUMA Area Regional Center
South East Los Angeles Regional Center
US Employment Development Lending Center, LLC
Velocity Regional Center
Victorville Regional Center
YK America Regional Center
California Energy Investment Center
Silicon Valley Venture Investment Regional Center
Colorado – Colorado Intercontinental Regional Center
Rocky Mountain High Regional Center
Colorado Regional Center, LLC
Anacostia Regional Center
Capital Area Regional Center TM, EB-5 America
DC Regional Center
American Life Investments, LLC
Florida – BirchLEAF Miami 31
Florida EB5 Investments LLC Regional Center
Florida Equity and Growth Fund Regional Center
Florida Overseas Investment Center
Lake Buena Vista Regional Center
Mirzam Investor Green Card Regional Center
Palm Beach Regional Center
Palm Coast Florida Regional Center
Regional Center of South Florida
Gold Coast Florida Regional Center
South Atlantic Regional Center (SARC)
South Florida Investment Regional Center (SFIRC)
America’s Center for Foreign Investment
Georgia – Atlanta EB5 Regional Center
Georgia Center for Foreign Development and Investment
America’s Center for Foreign Investment
Guam – Guam Strategic Development Regional Center
Hawaii – EB-5 Jobs for Hawaii
Hawaii Regional Center
Golden Pacific Ventures Regional Center
Idaho – Idaho State Regional Center
Invest Idaho Regional Center
Illinois – Chicagoland Foreign Investment Group (CFIG) Regional Center
LaSalle County Business Development Center (LCBDC)
Midwest Center for Foreign Investment, LLC ”
Iowa – Iowa Department of Economic Development (IDED)
Kansas – Kansas Bio-Fuel Regional Center
Midwest EB-5 Regional Center
Louisiana – Gulf Coast Funds Management Regional Center
New Orleans’ Mayor’s Office Regional Center
Louisiana Mississippi Regional Center
Massachusetts – EB-5 jobs for Massachusetts Regional Center
America’s Center for Foreign Investment LLC (ACFI)
Mississippi – Gulf Coast Funds Management Regional Center
Mississippi Gaming and Entertainment Regional Center
Michigan – EB-5 MRC
Lansing Economic Development Corporation (LEDC) Regional Center
International Michigan Investments Regional Center
Nevada – Clark County Regional Center
Las Vegas Regional Center
Nevada Regional Economic Development Center (NREDC)
New Jersey- New Jersey Regional Center
New York – Buffalo Regional Center
New York Immigration Fund, LLC
New York City Regional Center
Upstate New York Regional Center (UNYRC)
Atlantic Regional Center for Foreign Investment, LLC (ARCFi)
North Carolina – North Carolina Center for Foreign Investments
Carolina Center for Foreign Investments
Tennessee Regional Center, LLC
Ohio – Cleveland International Fund
CMB Summit Regional Center
Northeast Ohio Regional Center
Oklahoma – South West Biofuel Regional Center (SWBRC)
Pennsylvania – Philadelphia Industrial Development Corporation (PIDC) Regional Center
Pennsylvania Department of Community and Economic Development Regional Center
South Carolina – Carolina Center for Foreign Investment Regional Center
South Dakota – South Dakota International Business Institute (SBIDI)
South West Biofuel Regional Center (SWBRC)
Tennessee – America’s Center for Foreign Investment
Tennessee Regional Center, LLC
Texas – City of Dallas Regional Center, Global Century Regional Center
Global Century (Houston)
Mountain States Center for Foreign Investment (MSCFI)
Vermont – Vermont Agency of Community Development EB-5 Regional Center
Washington – American Life Regional Center
Aero Space Port International Group (ASPI Group) Regional Center
American Life Ventures Everett, Washington”
American Life Seattle Regional Center ( Gold Rainbow Freedom Fund)
Twin Development Regional Center
Whatcom Opportunities Regional Center
American Life Ventures Tacoma Washington
Wisconsin – Ecorntech Regional Center
Metropolitan Milwaukee Association of Commerce (MMAC)
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Tags: Alabama -America's Center for Foreign Investment Arizona - Arizona EB-5 Regional Center California - Alliance Regional Center American Logistics (International) Regional Center American Redevelopment , EB-5 America DC Regional Center American Life Investments, exactly how to choose an EB5 regional center, Global Century Regional Center Global Century (Houston) Mountain States Center for Foreign Investment (MSCFI) Vermont - Vermont Agency of Community Development EB-5 Regional Center Washington – Americ, LLC " Iowa - Iowa Department of Economic Development (IDED) Kansas - Kansas Bio-Fuel Regional Center Midwest EB-5 Regional Center Louisiana – Gulf Coast Funds Management Regional Center New Orleans' M, LLC (ARCFi) North Carolina - North Carolina Center for Foreign Investments Carolina Center for Foreign Investments Tennessee Regional Center, LLC Anacostia Regional Center Capital Area Regional Center TM, LLC Florida - BirchLEAF Miami 31 Florida EB5 Investments LLC Regional Center Florida Equity and Growth Fund Regional Center Florida Overseas Investment Center Lake Buena Vista Regional Center Mirzam I, LLC New York City Regional Center Upstate New York Regional Center (UNYRC) Atlantic Regional Center for Foreign Investment, LLC Ohio – Cleveland International Fund CMB Summit Regional Center Northeast Ohio Regional Center Oklahoma - South West Biofuel Regional Center (SWBRC) Pennsylvania – Philadelphia Industrial Developme, LLC Regional Center Management Los Angeles Riverside PUMA Area Regional Center South East Los Angeles Regional Center US Employment Development Lending Center, LLC Texas – City of Dallas Regional Center, LLC Velocity Regional Center Victorville Regional Center YK America Regional Center California Energy Investment Center Silicon Valley Venture Investment Regional Center Colorado – Colorado Interconti, Regional Center Properties Northern California Regional Center, Updated List of EB-5 Regional Centers, Washington" American Life Seattle Regional Center ( Gold Rainbow Freedom Fund) Twin Development Regional Center Whatcom Opportunities Regional Center American Life Ventures Tacoma Washington Wisconsin
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August 23rd, 2010 |
Many families wishing to live in the USA consider the relative advantages and disadvantages of the E2 and EB-5 visas.
In some cases the choice comes down to the funds they have available or wish to utilize. The EB-5 requires an investment of $500,000 in a program operated by a Regional Center authorized by the U.S. government. The E2 visa is likely to cost much less, indeed many families have paid in the region of $150,000 to $200,000 to purchase a suitable business qualifying for the E2.
However, a key implication that is not always realized is that the E2 visa does not provide the family with permanent residence. A senior American Consular official is reported as saying –
‘I would also like to point out that a non immigrant (E2) visa is not a good option for someone who intends to reside permanently in the United States. If the investor retires or sells their investment, his or her visa status lapses and he or she must leave the US. Only single dependent children under 21 are eligible for visas to accompany their investor parent, and when these children turn 21 they lose their status as a dependent and their visa. The more secure option for those that have the necessary capital is the permanent resident [green card EB5] investor visa. In this case the required investment is one million dollars, or under certain circumstances $500,000.’ John Caulfield, Consul General, US Embassy London.
There have been a number of well reported cases of families and/or their children having to leave the USA due to the E2 visa failing to be renewed. This can still happen even after the family may have lived in America for many years when perhaps their children know no other way of life.
Indeed the situation regarding the limitations has become so notorious that a petition signed by many E2 visa holders, desperate to remain in America, has been drawn up for presentation to Congress.
The New York Times recently reported an unfortunately typical scenario where a family who had been operating a business on an E2 visa for nine years had the renewal of their E2 visa refused. This left them no option other than to return back to the country that had left nearly a decade earlier.
Of course, many do not have the $500,000 required to make the investment for the EB-5 visa. However, for those that do, the fact that it provides permanent residence status is an enormous benefit in many ways.
- Full permanent residency rights apply.
- In certain states you pay lower property tax costs and your children pay lower tuition rates at many Colleges and Universities.
- Children do not have to leave the USA once they turn 21.
Depending upon your circumstances the EB-5 could be seen as an inexpensive option. The one visa covers the entire family, applicant, spouse and all their children under 21. Select the right regional center and not only should you get your $500,000 back at a point in the not too distant future, you may also get a return on your investment. The same cannot be said with confidence about the E2 visa, particularly in the current economic climate.
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Tags: America, congress, E2, eb-5, New York Times, permanent residence, regional center, USA, visa
Posted in Immigration | No Comments » |
August 20th, 2010 |
As the EB-5 visa has become increasingly popular among people looking to immigrate to the USA, questions are being raised about the quality of advice they are receiving. Is it impartial and what are the motives behind the information they are given?
By way of background, the EB-5 visa has a pilot program which is due to end in 2012. The program requires an investment of $500,000 which needs to be in one of approximately 100 government approved regional centers. These regional centers need to create ten jobs per investor in what is termed a Targeted Employment Area (TEA), in areas of specific higher unemployment.
The attractiveness of the visa program is that it can provide one of the fastest routes to permanent residency (Green Card) in the USA for the applicant, their spouse and children.
Many potential applicants who seek impartial and independent advice on the advantages and disadvantages of the various EB-5 programs tend to approach attorneys or consultants to provide them with the facts. However, recent feedback has highlighted issues with some of the advice that is given.
EB-5 applicants require detailed specific legal advice on the visa itself. There are a number of specialized immigration attorneys who have successfully processed multiple EB-5 applications. Interestingly a number of the most respected and experienced of these specialist attorneys have voiced concern over a possible conflict of interest if the EB-5 attorney/lawyer also recommends a particular regional center investment (which pays them a finder’s fee) as well as carrying out the applicants legal work.
Another consideration may be how much knowledge the attorney has on the pros and cons of the various centers. It certainly is more difficult to know all the ins and outs of the various centers without visiting them and having a good look around, how many attorneys have done that?
Applicants also may turn to consultants who specialize in the EB-5 visa for advice and again there have been concerns raised about the actions of some of these people.
Problems may occur if consultants only work with one or two centers and are in reality agents of those centers. Given that there have been issues with some regional center programs leading to rejection of visa applications, as well as instances of funds being allegedly stolen, it is important to get all the facts from ethical experienced EB5 consultants with a proven track record.
There are also concerns if consultants have a potential conflict of interest in that they also market their services to regional centers to advise them, provide marketing or sales advice, or set out to recruit applicants for them. Concern is focused on a possible conflict of interest if a consultant is being paid an advisory fee by one or more regional centers and giving advice on how to target applicants as well as providing, on the face of it, impartial advice to prospective applicants.
One of the few published books on immigration using the EB-5 suggests, when selecting an EB5 consultant, the following questions should be asked:-
- Do you also provide paid advice to any regional centers?
- Have you ever been paid to advise regional centers?
- Do you have an immigration attorney working with you who has made multiple successful EB-5 applications to different regional centers?
- How many successful and unsuccessful EB-5 applicants have you advised?
- Which countries do these applicants come from, can we speak to them?
- Have any of your senior officers ever had any convictions or citations or debars from any national, state business or professional organization?
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Tags: attorney, consultants, eb-5, green card, immigrate, permanent residence, pilot program, regional center, USA, visa
Posted in Immigration | No Comments » |
August 19th, 2010 |
The EB-5 regional center pilot program visa provides the opportunity for green cards and permanent residency in the USA for the applicant, their spouse and children under 21. The U.S. government, through The United States Citizenship and Immigration Service (USCIS) has so far approved approximately 100 regional centers to offer programs that qualify for this visa which requires an investment of $500,000 if the program is in a Targeted Employment Area (TEA).
One of the questions sometimes asked by potential applicants is do I have to live in the area that I invest in? The simple terms answer is no. Under the regional center pilot program you are free to invest in any of the regional center programs and can live wherever you want, regardless of where you invest.
Having established you do not need to invest where you live, it is worth examining why you would even want to.
It is a reasonable assumption that most families looking at the EB-5 regional center route to permanent residency in the USA, wish to invest in program that best matches their priorities and requirements, which according to leading EB-5 consumer advocates, has:-
- A good track record of approvals.
- Clear evidence that the program will create 10 jobs per investor, or in certain cases save jobs, and return the $500,000 investment.
- A fixed term so they know exactly when their investment will be returned.
Most don’t want
- Ambiguity regarding the term, particularly in the current economic climate
- A project that has experienced refusals, particularly at the I-829 stage. (This relates to the removal of conditions after two years).
- A center currently experiencing litigation or potential shut down by USCIS.
- Directors with an ambiguous or troubled history.
- A regional center program that simply views the program as an easy and cheap way to raise cash, from captive and unprepared overseas investors.
As you can from the above criteria, the key is to find the best program to match your requirements rather than focusing on a program in the location you are planning to reside in. It is imperative you chose the most appropriate regional center program regardless of where it is located, as you require it to work, so the necessary jobs are created, the program succeeds and your investment is returned. It is pointless choosing a program in the area you are planning to live in unless it can deliver these essential requirements.
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Tags: eb-5, green card, I-829, permanent residence, pilot program, regional center, USA, uscis, visa
Posted in Immigration | No Comments » |
August 16th, 2010 |
If you would like to read the latest articles from Which EB5 you can find links to them at the Which EB5 Twitter page. Here are a list of the titles:
- EB-5 Consultants and Attorneys – Whose side are they on?
- Has anyone ever got their money back from the EB-5 visa program?
- Is the EB-5 visa going to buy you the American dream?
- Myths about the EB-5 Regional Center investment Visa.
- How do I choose an EB-5 regional center?
- Can you buy your way into the USA?
While you are there why not sign-up to follow us on Twitter so you can be one of the first to know when we have news on the EB5 to share?
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Tags: articles, attorney, consultants, eb-5, investment visa, regional center, twitter, USA, visa
Posted in Immigration | No Comments » |
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