March 9th, 2010 |
 Using the EB-5 Visa to move from Canada to the USA? Tax Alert
The IRS has issued Revenue Procedure 2010-19 (“Deemed Dispositions by Individuals Emigrating from Canada”).The Revenue Procedure provides guidance on the new election procedure provided under the Fifth Protocol of the Canada/US tax treaty whereby individuals moving from Canada to the United States can elect an increased cost basis on their property for US income tax purposes.
Among other things, the Revenue Procedure describes the deadlines and procedures for making the election. In addition to other factors, distinctions are made:
1. For emigrations before March 29, 2010 and thereafter,
2. Between US citizens and nonresident aliens, and
3. Property that would have been subject to US tax on the ultimate sale, regardless of the emigration.
In many cases the individual must make the election on the individual’s timely filed US federal income tax return for the first year ending after the individual’s change of residence.Some elections may be time-barred under the statute of limitations.
Our thanks to International tax specialist Richard Brunton for this alert.
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Tags: Canada, eb5, international, IRS, tax, united states, visa
Posted in Immigration | No Comments » |
March 8th, 2010 |
 Should you compare EB5 investor visa projects with the help of a lawyer? The situation is understandable; you are looking into the various regional center options for your choice of EB-5 program and are spending days, weeks maybe months (it may seem like a lifetime) searching the internet in an attempt to find information on the relative advantages, or just as importantly disadvantages, of the ever growing number of regional centers.
A number of the most experienced immigration lawyers do not provide guidance on choice of regional centers. Instead they focus on the legal aspects of the EB-5 visa. Indeed there have been a number of seminars where leading EB-5 immigration attorney’s have stressed that Immigration Lawyers should not be providing advice on your choice of regional center – their focus should be on the actual legal immigration process.
So you continue to search for useful information; such as how many successful applicants have each center processed, however, how helpful is that statistic? For example, if a program has a high number of non-English speaking applicants what are the implications that are not readily apparent from the bare statistics?
When a web site quotes comparative statistics how up to date and accurate are those statistics and indeed how meaningful? The US economy is still undergoing massive changes and regional center programs that were popular a couple of years ago, at a time of significantly higher returns, may require other considerations in the light of a more conservative attitude.
Another factor that is not readily apparent from the web is how are programs actually performing once fully subscribed? Have buildings been constructed, jobs been created, what issues have come to the surface and have investors had their monies returned?
If you are looking into regional center options for your choice of EB5 regional center independent, impartial information can be found on Which EB-5, contact Andrew Bartlett or Stephen Parnell to find out what they discovered on their visits to these regional center programs.
Andrew Bartlett and Stephen Parnell are authors of Green Card via the Red Carpet available on Amazon
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Tags: amazon, America, andrew bartlett, eb-5, Green Card via the Red Carpet, immigration attorney, immigration lawyers, regional center, stephen parnell, visa
Posted in Immigration | No Comments » |
March 5th, 2010 |
 This is an area that can be overlooked when looking into the various EB-5 investor visa regional center program options. Many ask what it means.
In summary, regional center programs vary considerably both in size and popularity. Some Centers have programs only requiring a few investors, some, such as a proposed car plant, will require hundreds even thousands of investors.
Some centers have an established track record and it is possible to determine how long it is likely to take for the program to be fully subscribed; with others there is very little evidence to go on.
However, the questions that need to be asked are:
• What happens if a program does not fully subscribe, can it then go ahead?
• If not, what happens to job creation?
• Will you ever get your money back?
These are clearly very important issues particularly in the current economic climate and ones that seem all too often to be receiving less than adequate attention.
Ask us what this means to the safety of your regional center choice. Contact the experts at Which EB5 for information on regional centers.
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Tags: application, eb-5, eb5, investor visa, job creation, money back, regional center, track record, visa
Posted in Immigration | No Comments » |
March 1st, 2010 |
 It is interesting to look beyond the headlines used to promote regional center programs.
Here are some example headlines we found and the reasons you need to explore deeper to expose ALL the details before you choose a regional center for your EB-5 visa.
1. “The only Designated Regional Center in the U.S. controlled and supervised by State Government.”
The Regional Center investments that operate under the banner of a state can sometimes confuse prospective investors in terms of the implications of this status. For example, has the “State Government” any responsibility for repayment of the investment? Some investors assume such designation may offer a safety net. Another question might be: What role does the state government play in the exit strategy regarding the then value of the investment?
Some regional centers, at different times, have made this claim. One program that operated under a State banner is reportedly the subject of litigation. This could raise raises questions as to how far the “state” supervised the program.
2. “A 100% success record for EB-5 Visa approval and faster approval times.”
Many centers have a 100% successful track record, at least at I-526 stage. As regards faster approval times; centers generally get approvals within the USCIS average time lines however, for specific reasons relating to “Requests for Further Evidence” RFEs, and the nature of some programs, some centers have had longer approval times.
3. “In 2009, a total of 4,218 wealthy investors from outside the U.S. successfully applied for and received an EB-5 visa. But many are left asking what has accounted for the recent interest the program has been receiving”?
Firstly a few points regarding these figures which may seem a little pedantic but are important for reasons that can be explained.
The figure quoted includes the spouse and children of the investors; it does not mean there were actually 4218 individual investments in regional centers. - Many investors have a spouse and at least one child so the number of actual investors is nearer a third of the total number of visas. Secondly, the figure for 2009 contains a substantial number who invested in 2008; delays in processing carried these over into 2009.
The main change to be aware of in the figures for 2009 is actually the nationality of investors, with a greater proportion of Chinese investors in particular. China has seen a significant sales focus by a number of regional centers and their agents based in China. This has meant certain programs have mainly Chinese investors whose particular motivation and awareness may have implications.
4. “The regional center returned my investment in three years.”
Three years is generally unrealistic given current review times. That is unless the client is selling out at the moment their I-829 petition is approved. This could be extremely dangerous
Andrew Bartlett and Stephen Parnell are authors of Green Card via the Red Carpet. You can read excerpts of the book at our book website and/or contact the authors via Which EB5.
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Tags: andrew bartlett, china, Chinese investors, eb-5, exit strategy, Green Card via the Red Carpet, I-526, I-829, investors, litigation, regional center, request for further evidence, RFE, state government, stephen parnell, uscis, value of the investment, visa, Which EB-5
Posted in Immigration | No Comments » |
February 25th, 2010 |
 Immigration with children requires detailed thought and planning Among the issues that we come across when we are troubleshooting are advising parents on how immigration will impact their children in terms of the initial move and then looking at the years ahead – how will their lifestyle work out in the USA as against their lifestyle in their current country of residence?
The areas that we have covered based on our experience in advising thousands of families on the move include: Why you wish to move and more critically, schooling and lifestyle benefits from the childs perspective.
The practicalities of the move include timing for each step in the process, the implications of areas to live and importantly schooling and the differences likely to be encountered with the US system.
A key aspect is the choice of a visa, as this may have a critical impact on child welfare as we have seen many times. In worst cases scenarios there are the implications of children facing deportation due to issues with specific visas which had not been taken fully into account.
You really do need to consider the whole picture before such a major lifestyle move. See chapter nine in Green Card via the Red Carpet, available at Amazon, which offers in-depth information on using the EB-5 investor visa program to gain rapid permanent residence status in the U.S.A.
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Tags: children, eb5, green card, Immigration, USA, visa
Posted in Immigration | No Comments » |
February 20th, 2010 |
 How to Retire in the U.S.A. National newspapers and magazines have been publicizing the ways that the EB-5 visa program can provide the opportunity for many people’s lifelong dream to retire in the U.S.
Under this immigration program foreign nationals can make an investment of $500,000 in an approved American Regional Center program to obtain an immigrant visa and be eligible for a U.S. green Card.
Andrew Bartlett, Joint Managing partner of the leading specialist EB5 relocation advocacy company, Which EB5, advised Brian and Jane Thompson, a couple from Essex, England, on the EB-5 visa program. The Daily Mail reported that they targeted Florida as their ideal retirement spot, noting its low real estate costs.
We have kept in contact with the Thompsons and will update you on their lifestyle in Sarasota.
The State Department reports that the number of approved EB-5 visas has nearly tripled between fiscal years 2008 and 2009.
Andrew Bartlett and Stephen Parnell are authors of Green Card via the Red Carpet
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Tags: andrew bartlett, eb-5, Immigration, regional center, retirement, visa, Which EB-5
Posted in Immigration | No Comments » |
February 18th, 2010 |
 Beware of what you read about the EB5 investment visa As regular readers of this blog will know we constantly warn about instances of misleading information we discover that involve the EB-5 investor visa.
Unfortunately this week we have discovered an increasing amount of incorrect and misleading information that could spell problem for those looking for accurate information as part of their investigation into the track record of regional centers offering investor green cards.
The question posed by an unsuspecting enquirer on an immigration blog is straightforward enough:-
“I am in the process of selecting a regional center where my main objective would be to make sure that the job creation requirements will be met after two years to get the conditions removed (I-829 petition) from my green card and to have some assurance that the capital will be recoverable after five or even a few more years. ROI would be less relevant. So far I have been looking at the following regional centers […..] which look promising: Any comments would be appreciated.”
And here the problems start; with a series of supposedly helpful but potentially misleading and dangerous suggestions offered by various responders, a number not using their real names but answering under aliases.
One responder mentions a different regional center that the questioner has not suggested – one of the programs at this center is currently the subject of litigation.
There is no in depth analysis regarding the very important question asked regarding the far reaching implications of job creation.
The questioner makes the comment it is helpful to get advice from people with real experience; unfortunately the type of experience from those that have answered is less than clear!
Andrew Bartlett and Stephen Parnell are authors of Green Card via the Red Carpet available at Amazon
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Tags: amazon, dangerous information, eb-5, experiance, green card, Green Card via the Red Carpet, I-829, Immigration, investor visa, regional center, visa
Posted in Immigration | No Comments » |
February 16th, 2010 |
 What Exactly is my EB-5 Visa application going to cost? An investment in a Regional Center pilot program is a minimum of $500,000 and as you probably know you need to budget additionally for attorney costs and administration fees. But what are the potential costs you can expect from using the EB-5 immigrant investor pilot program and why do regional center administration charges vary so much from center to center?
Why do some centers charge deposits up front before providing you with a copy of their documents?
Attorney fees can also vary significantly and some applicants have found themselves billed for unexpected additional costs.
Then there is the $500,000 question: HAS ANYONE HAD THEIR MONEY BACK AND IF SO HOW MUCH? The programs have exit strategies, fine, but in the current economic climate the question of the likely return of investment is on many peoples’ minds.
Some of the original investors in certain programs have gone through the process and had their investment back but there are points that you should be aware of before investing in the EB-5.
Andrew Bartlett and Stephen Parnell are authors of Green Card via the Red Carpet available on Amazon
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Tags: eb-5, eb5, immigrant investor, regional center, visa
Posted in Immigration | No Comments » |
February 9th, 2010 |
 Is a fixed term exit important in your choice of regional center? Many potential EB-5 visa applicants have questions on this point, here is a recent one:
“I am extremely interested in the EB-5 Visa. I would like to bring my family to the USA during 2011. We have sufficient funds and should not have a problem meeting eligibility. I have tried to do research on the net. However, there is one issue that the vast majority of EB-5 websites seem to completely avoid – getting your money back at the end of it.
I am only interested in programs where the exit strategy is clear and a defined, and the end to my investment is indicated. [You mention on your website that ...” there are very few proven centers currently operating this program.] I am very keen to pursue immigration to the US, but would like a concrete solution to this exit issue”.
The question is important, it continues to frustrate us that some regional centers are so ambiguous about their exit strategy; this is often of concern to potential EB-5 participants, particularly in the present economic climate.
Very few regional centers actually have a clearly laid out fixed term exit. We have looked into the exit process in some detail and have visited centers with a measurable track record.
For further information contact us using the short form on the right of this page.
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Tags: eb-5, eb5, fixed term exit stratergy, investment, regional center, USA, visa
Posted in Immigration | No Comments » |
February 4th, 2010 |
 Job creation in the EB-5 Visa Program This is particularly important at the I-829 stage when conditions are removed, assuming of course that the $500,000 principal has been utilized as required, and the 10 jobs required have been created.
All too often this is an area where not enough attention is given, and in many cases evidence of jobs created will be required. In certain cases a delay or problem with a program could jeopardize the creation of these all important jobs.
However, there is an interesting alternative that is operated by a very small number of regional centers. USCIS recently indicated they are accepting the use of economic models based on infusion of capital. If such a model is used to calculate job projections at the I-526 stage, an investor could receive credit for job creation at the I-829 stage by establishing that the regional center utilized the requisite amount of capital into the new commercial enterprise, and that the new commercial enterprise spent that capital. All this could be done without specific direct data about actual job creation.
“If the infusion of capital occurs according to the approved business plan and economic analysis, and the capital investment scheme comes to fruition in the manner outlined in the business plan, then the economic data provided in support of the Form I-526 petition regarding indirect job creation may demonstrate the creation of the indirect jobs without the submission of further detailed data about job creation at the Form I-829 petition stage”.
Contact Which EB5 for more information on job creation methods and the effect upon your EB-5 visa success.
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Tags: eb5, I-526, I-829, job creation, regional center, uscis, visa
Posted in Immigration | No Comments » |
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