[HOT] Congress should discontinue the 10 jobs requirement for EB-5 cases


More I gain experience and understand the EB-5 requirements and the real-world issues related to these EB-5 requirements, the more I am convinced that the 10 jobs (new full-time positions) creation requirement is an unrealistic and short-sighted requirement that should be discontinued immediately. [Note this would require the Congress to change the EB-5 law, since USCIS does not have the authority to change the statutory requirement; therefore, I wish to make it clear that my complaint is not with USCIS but with the short-sighted Congress in this matter.] My arguments for the discontinuance by the Congress is as follows:

1. The 10 jobs creation requirement does not take into account actual positive economic impact delivered by an EB-5 immigrant and his family members. They purchase relatively expensive house, cars, etc. This positive economic impact is not given a due credit. These EB-5 immigrants rarely ask for govt help or receive welfare benefits.

2. This 10 jobs creation requirement in regional center EB-5 project context simply cannot be tracked or measured accurately. Inherent limitations in RIMS II and IMPLAN make it impossible to accurately track the jobs effect.

3. It is short-sighted and unfair to deport some entrepreneur or business person for having created 6 new jobs rather than 10 jobs. Imagine if Google company had created only 7 employees within 2 years, are you telling me that it is a good idea to deport them for this failure? This is incredibly short-sighted policy.

4. Any system not allowing part-time jobs to be added up and be counted is a nonsensical system.

5. For many businesses, it takes way more money than $1 Million USD to create 10 new full-time jobs for USCs or LPRs.

6. It is incredibly unfair to equate the number of jobs with the positive economic and social impacts a particular business contributes to the United States.

7. New businesses often fail, so deporting the immigrant entrepreneurs is just an incredibly wrong-headed policy, because some of so-called failures are going to end up operating very successful companies in future.

The EB-5 adjudication should first clear a non-USCIS division regarding the business plan and then be recommended to USCIS to review other immigration aspects and for adjudication.

I am convinced that the EB-5 system need to be changed to reflect the business realities, fairness and be more practical. I am also convinced that once this requirement is done away with, you are going to see more EB-5 projects that take risks and actually create more jobs and positive economic impacts.