I don’t usually write about personal experiences in this blog but I must make an exception and tell you about my weekend trip to Martha’s Vineyard to lunch with members of the U.S. Senate.
This weekend I had the pleasure of being invited to have lunch in Martha’s Vineyard with a group of very influential people. Among the group that numbered about forty were Senator Chuck Schumer D-NY, Senator Jack Reed D- RI and Senator Robert Menendez D-NJ (Senator Menendez went on to appear on NBC’s Meet The Press the next day).
Apart from the chance to visit such a beautiful, very hot, destination, a destination that has been frequented by political figures for many years, I was looking forward to having the opportunity to speak with the Senators in a more intimate atmosphere than the usual meetings I have attended from time to time in Washington and to presenting some ideas for improving the effectiveness of the EB-5 program.
The weekend started with a flight from Florida to Boston, a city I have not visited for any length of time before. Arriving a day before the meeting with the Senators I was able to see some of the historic sites of Boston. I particularly enjoyed the State House as it was from here that the British ran the colony well before a famous Tea Party (For those of our readers who are new to American History, this Tea Party has absolutely nothing to do with a current movement you may hear about on the news) signaled the beginning of the end of British rule here in the USA. Being born in the U.K. and later becoming a naturalized American, this was of great interest to me.
Air Conditioning on a Cesna
As the lunch meeting in Martha’s Vineyard was set for 12.00 mid-day on Saturday I had arranged to fly from Boston to MV on Cape Air. The experience flying on an 8-seater, 30 year old Cessna is something quite unique. Just how unique? I have inserted a photo showing the air-conditioning on this flight!
In case it is hard to see I should just explain that the pilot is holding open the window while we are making our way to the take-off point; this allows the passengers to breath! To be fair, the temperature outside was approaching 40 degrees Celsius (100 F). I must also point out that not only were the flights on Cape Air smooth and professional in every way, they were quite enjoyable once one has overcome the typical thoughts associated with self preservation.
Arriving early in MV I had an opportunity to explore a little. I was taken aback by the beauty of the place and can understand why it is the chosen summer destination for so many.
As the lunch party started to arrive I was led to my seat on a table just to the right of Sen. Chuck Schumer D-NY. Leading the speeches was Senator Robert Menendez D-NJ who presented a well balanced delivery covering many topics of importance. Sen. Schumer also spoke eloquently on multiple subjects. Interjections by other guests followed and questions from some of the attendees were also voiced.
I took the opportunity to speak with Sen. Menendez regarding my involvement in, and passion for, the success of the EB-5 program.
My main focus was on the desire for premium processing for the I-526 immigrant investor petition. With premium processing available for many other types of petitions it does not make any sense to me that we make perhaps our most desired class of immigrant, those investing $500,000 to $1,000,000 into the U.S. economy, wait up to four months to know if their petition has been successful. I did emphasize that the staff of the USCIS EB-5 unit have done an outstanding job for us, the EB-5 stakeholders, and we would like to implement an improvement to the program that would also benefit that department. This move alone would, in my opinion, lead to increased use of the visa, more certainty for the applicant, an increase in international investment in the U.S. economy and of course greater job creation. Sen. Menendez was sympathetic to my point and suggested I follow-up with his Chief of Staff (Danny O’Brien) with further details and proposals.
I then had an opportunity to speak with Sen. Jack Reed of Rhode Island. Once again I voiced my enthusiasm and desire to keep the EB-5 program heading in the right direction. Along with the need to implement premium processing we talked about the potential benefits to the State of Rhode Island of establishing a Regional Center there. The Senator appeared interested in exploring this further and suggested we bring the point to his attention once the Governor’s race in RI has been settled.
I must say that I felt it very beneficial to have an opportunity to meet with and discuss these topics with such distinguished guests. If we, as advocates of the EB-5, can make representations to those with an opportunity to champion the concerns of EB-5 applicants in Washington I believe it is what we must do to preserve both the integrity of and future success of the EB-5 program.
I concluded my trip to New England with a visit to Harvard on Sunday morning. At least now I can say “I went to Harvard” even if it was only for a day!
News from Washington on the progress of the EB-5 extension:
The Senate is scheduled to vote at approximately 4:00 pm EDT on the final version of the Fiscal Year 2010 Homeland Security Appropriations Act, which contains numerous immigration provisions including the extension of the EB-5 Visa Program through October 1, 2012.
If this vote actually takes place and is successful for us it means the bill will make its way to President Obama to be signed into law.
We will keep you up to date here at the Which EB5 Blog or you can follow us on Twitter Which EB5
It is anticipated that the Senate will take up the Homeland Security conference agreement this week (as early as Tuesday). This should clear the path for the Bill to be sent to the President for signing into law the 3-year extension of the EB-5 visa program among other measures. We will keep you up to date with the news from Washington.
We are at the AILA EB-5 conference in San Francisco this week to meet with Regional Center owners and specialist EB-5 immigration attorneys and will advise you of all important developments live from this venue.
Follow WhichEB5 on Twitter for up to the minute information on all matters relating to EB-5.
According to our sources in Washington we are on our way to the anticipated 3-year extension to the EB-5 pilot program. Here is what we know right now:
House and Senate conferees today reached agreement on how to resolve the differing provisions in the House-passed and Senate-passed versions of the fiscal year 2010 Homeland Security Appropriations bill. Conferees included a three year-long extension of the E-Verify Program in the measure, and they included three year extensions of three expiring immigration visa programs (including EB-5). Today’s conference committee action readies the measure for consideration by the full House and full Senate. The text of the conference agreement was not available at the time of this writing.
“Visa Extensions: Provides three year authorization extensions for the religious worker (R visa), rural-serving doctors (Conrad 30-J visa), and investor (EB-5 visa) programs”.
The final three-year compromise emerged after a very contentions internal debate and a nearly successful effort by some members of Congress to eliminate all immigration extenders from the bill. Communications from the EB-5 regional centers to their individual members of Congress and from the entire EB-5 stakeholder community to congressional leadership were an extremely important factor in the decision to include the extensions.
The conference version of the bill will now go to the House and Senate for final votes in the next few days and then to President Obama for signature. The final votes are expected to be a formality.
We will keep you informed of all developments of the EB-5 pilot program here at the Which EB5 Blog.
Sources in Washington tell Which EB-5 that three immigration issues (including the EB-5 visa) will get a 3-year extension. This has NOT been confirmed as yet.
Here is the actual information we have at this time:
“House and Senate negotiators last night reached agreement on the differing provisions in the House-passed and Senate-passed versions of the fiscal year 2010 Homeland Security Appropriations bill. The House and Senate conferees on the measure have set a meeting for 1:00 pm today to formalize the agreement”.
Watch this space for more EB-5 visa news from Washington.
The Senate have cleared the bill extending the EB-5 program for a one month temporary extension. President Obama is expected to sign the just cleared bill tonight. Word in Washington is that Congress could take up longer term extension within the next two days.
Stay tuned to the Which EB5 Blog for the latest updates and news on all EB-5 Visa matters.
Many calls, messages and emails this week from potential EB-5 investors concerning the strength or otherwise of the U.S. economy and its potential effect on the future of the EB-5 visa.
It is important that potential EB-5 investors see exactly how they US economy can have an effect, positive or negative, on thier choice of Regional Center project.
As an immigrant myself, (I’ve been resident since 1991) who arrived in America during an economic downtown, I can say that this one is different. (Slight understatement there) What I can also say is that overwhelmingly, the American people, through history, have shown an amazing resilience to adversity. That said, we have a lot to put right. But then so does the rest of the world.
I do believe, that despite the current economic climate, and the bickering in Washington over A.I.G bonuses, we are just beginning to see the first signs that a bottom is in sight. But please don’t take my word for it. Below is the first video in a set of two (the second one out tomorrow) which show an amazing alignment of views from a) perhaps the worlds most powerful banker, chairman of the Federal Reserve Ben Bernanke and b) perhaps the worlds most prominent, long-term successful businessman Warren Buffet (second most welathy man in the USA) head of Berkshire Hathaway.
Take a look at the video from Federal Reserve Chairman Ben Bernanke (I assure you it’s worth your time) and note the specific points of light he sees. We will then compare these to the points that are raised by Warren Buffet in tomorrow’s video and you will see why I beleive the USA will lead the rest of the world out of this current downturn.
Feel free to contact us with comments and concerns using this blog, Twitter or Skype.
The Washington Post reported that the Senate gave final approval Tuesday night to a $410 billion spending bill to fund most of the federal government for the remainder of the year, after overcoming a resilient Republican opposition and several Democratic defections. Included within this bill was a further six month extension for the EB-5 regional center pilot program which will now carry through until September 2009. The bill will now be passed through for Presidential signature – so what does this all mean?
If you have already applied for the visa, processing will continue. The consideration of petition applications has now considerably speeded up – this week we have had I-526’s approved for clients who submitted petitions only four months ago! However processing times will depend upon the chosen regional center.
If you are coming up for Consulate interview be aware that we have had feedback that these can be challenging at certain consulates – we do provide feedback to our clients on the experience of previous petitioners.
If you are planning to apply for a visa you may want to do this sooner rather than later as of yet a longer extension to the regional center program has not been granted – reports that a five year extension until 2013 has been granted ARE INCORRECT. There have been attempts to achieve a five year extension but so far these have failed and there are difficult hurdles to overcome, so to get applications through in the current six month timetable you need to act sooner rather than later.
If you are seeking information on the track record of the current programs and the implications:-
Including
• Why American Life has remodelled the size of its latest project?
• What are the likely impacts of the latest cinema reports on the CanAm LA Time Warner film program?
• What has been the experience of applicants on the CMB program?
• What are the likely impacts in the property and recreational markets on the Vermont Jay Peak program?
• What are the results of our research into the program focusing on assisted care provision?
For more information please contact Andrew Bartlett or Stephen Parnell at Which EB5
US: 561 771 1330
UK: 020 3004 9720
Canada:289 470 1464
Ireland: 01 657 1718
WhichEB5.com, its owners and associates, do not function as attorneys or legal counsel and do not attempt to interpret immigration law and do not provide or offer legal advice or legal services or investment advice. Anyone considering an Investment based Visa should seek independent professional advice. The information on this site is intended to be general and should not be relied upon for any specific situation. Any reference to designated regional centers on this website is posted as reference material only. For legal advice, please contact one of our attorneys. Prior results do not guarantee a similar outcome. Results depend upon a variety of factors unique to each person.