We are currently exploring alternative business feasibility for this site.
I was going to write a long article on this topic, but since there are already many articles written on this issue by EB-5 economists, I thought I would just provide a link to one of these articles:
The above article seems to be easy to understand and practical.
The report commissioned by USCIS and USCIS response to the independent report appear below.
I wonder if the 99.5% approved cases include those cases which are withdrawn or given up? No way there is 99.5% approval rate in EB-5 context.
Finally . . .
Still, many of the EB-5 remain and are left unaddressed.
Contained info on the new EB-5 Program Office transition status.
California is now allowing a special "third-step" option of qualifying census tracts (by combining 12 or fewer contiguous census tracts), in addition to the pre-approved areas composed of counties, cities, MSAs and CDPs.
Now, what I don't understand is the content of the recommended EDC Template Letter which contains the language stating that the signing entity "concur that the project will draw employment from the list of contiguous Census Tracts provided." I guess this is not problematic since this language can be read as saying the project will draw employment from the regional center geographic area which contains the area carved out by the attached contiguous Census Tracts.
Another Ombudsman sponsored meeting on EB-5 issues and problems. What's new. Read this if you want to hear complaints that do not get solved. Folks, USCIS and everyone know what the problems are; the real issue is the willingness to execute.
USCIS issued on Feb. 14, 2013 an updated draft for further comments. See:
Dear USCIS Stakeholders,
U.S. Citizenship and Immigration Services (USCIS) is continually focused on enhancing its administration of the EB-5 program. As part of our efforts we have undertaken an iterative policy development process which includes the posting of a draft EB-5 policy memorandum for public comment. We would like to thank stakeholders for providing comments on previously posted versions of the EB-5 memorandum.
Not guilty until proven, but the charges are serious, including forgery of EB-5 project documents. One thing this case demonstrates is that some Chinese EB-5 investors -- and more importantly, some Chinese emigration consulting companies -- do not vet the projects carefully. Especially if the operator lacks good track records, you better check out the project more thoroughly.
Washington, D.C., Feb. 8, 2013 — The Securities and Exchange Commission today announced charges and an asset freeze against an individual living in Illinois and two companies behind an investment scheme defrauding foreign investors seeking profitable returns and a legal path to U.S. residency through a federal visa program.
Response to Ombudman recommendation and explaining tenant jobs in context of EB-5 projects:
USCIS could have made the Guidance Memo more clear and easier to comply, but it's not their style, I guess.
On December 28, 2012, USCIS releases the following email.
In May 2012, USCIS published operational guidance on EB-5 adjudications involving the tenant-occupancy methodology which explains how USCIS policy on deference to prior EB-5 adjudications applies in the context of determinations regarding the reasonableness of an economic methodology. Since this guidance was issued, USCIS has carefully considered responses to Requests for Evidence (RFEs) as well as input from other relevant government agencies and has issued further operational guidance to govern the adjudication of these cases. This guidance will be applied to pending cases involving the tenant-occupancy methodology, as well as cases filed on or after the date of this guidance.
Don't you think we deserve better services from USCIS for these fees?
New fee allows USCIS to recover the costs of processing immigrant visas after individuals receive their visa packages from the Department of State abroad
WASHINGTON—On Feb. 1, 2013,U.S. Citizenship and Immigration Services (USCIS) will begin collecting a new USCIS Immigrant Fee of $165 from foreign nationals seeking permanent residence in the United States. This new fee was established in USCIS’s final rule adjusting fees for immigration applications and petitions announced on Sept. 24, 2010.