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[HOT] Long term proposals/ideas for making the EB-5 Program a success
We believe the following actions need to be implemented or decided by either Congress through legislative amendments or USCIS through regulatory amendments and/or guidance memos, to make the RC Program a greater success.
1. Congress needs to make the RC Program permanent, or at least extend it for another 5 years as soon as possible. The series of temporary extensions for the RC Program is getting to be a joke, and is giving a wrong impression that the United States government does not really care about this Program. This is ironic because the EB-5 Program is a "win-win" Program that creates jobs.
2. USCIS needs to decide I-526 cases within 4 months, I-526-based I-485 cases under 6 months, and I-829s within 6 months, to comport with the real-world commercial and financial needs of bona-fide EB-5 projects.
3. USCIS needs to focus on whether a job-calculation methodology used for a specific EB-5 project is indeed "reasonable", as required by the regs.
4. USCIS should allow two part-time positions to be combined to count as one full-time positions. Jobs are jobs.
5. USCIS needs to decide on various jot-creation related issues for I-829 purposes in a practical manner that comports with the real-world, commercial needs of EB-5 projects.
6. USCIS needs to work with DOS, USCIS Field Offices across the United States and other USDHS agencies to adopt consistent positions on various EB-5 issues.
7. Congress should not do away with the job-creation requirement, since the job-creation is necessary to gain the support from the American public and media for the EB-5 Program. It's one thing to try to lower the number of jobs required, but Regional Centers and U.S. immigration attorneys are shooting their own feet by requesting that the job-creation requirement be eliminated entirely. That will surely lead to an eventual termination of EB-5 Program because it will be viewed by many in the public and media as a BS program.
Basically, the overriding need is to make the EB-5 Program requirements clear and practical, but at the same time, not water down the job-creation requirements too much, which would allow all kinds of projects to try to qualify as EB-5 projects. We do not believe the projects that will create many jobs 10 years down the road were ever meant to qualify as EB-5 projects.
Why do we believe it's important not to water down the job-creation requirement for the long-term survival of EB-5 Program? The job-creation requirement serves as both a political and practical justification for the benefits of EB-5 Program. Without it, there is a danger that the EB-5 Program will be viewed as a government-approved scheme of selling green cards to the rich (sort of ironic in our opinion) for money. We do not agree with this viewpoint, but nevertheless, without the job-creation requirement, there is a definite danger that this viewpoint will take a hold.
Why do I say it's sort of ironic that the EB-5 Program may be viewed by some as selling green cards to the rich? Because EB-5 Program does actually create much-needed jobs for American workers. And also because the super rich foreign investors probably will not want to emigrate to the United States for various reasons which we will not get into in this article. Rest assured that you will not see the Bill Gates of other countries wanting to emigrate to the United States.