We are currently exploring alternative business feasibility for this site.
For internal research purpose: SEC, exemptions, EB-5.
Note the proposed SEC rule eliminating a prohibition against general solicitation and general advertising to securities offered under Rule 506 of Regulation D of the Securities Act. This proposed rule was mandated by the Jumpstart Our Business Startups Act, companies would be permitted to use general solicitation and general advertising to offer securities under Rule 506 of Regulation D of the Securities Act and Rule 144A of the Securities Act.
The Proposed Rules
[HOT] [Q] Given USCIS' recent shift in position on "tenant-occupancy", can an office building development be the basis for an EB-5 project?
Recently in 2012, USCIS announced its "tentative" policy on "tenant-occupancy" issues. The new policy appear to make an office building development (to be rented out to various types of tenants) an extremely difficult EB-5 project. Is this the case?
The short answer is: "In theory, no; in practice, no one knows -- yet."
[Q] During my CPR stage, I gave a birth to my child while I was visiting my home abroad. Can my baby obtain green card?
The above article says:
Yes, if you meet certain requirements. There are two ways to bring your daughter to the United States as a permanent resident after her birth abroad. One way is very quick, while the other way may take a year to complete.
One thing curious to me is that most of the comments to the article is negative. But I wonder how can the commenters expect the foreign investors to invest in a U.S. business if the foreign investors do not receive something in return, i.e., green cards, when they certainly are not receiving all that much profit? Specifically, I am curious what these commenters think the foreign investors should receive as a benefit in return for investing $500,000 to $1 Million USD in a U.S. business?
On Friday, September 28, 2012, the President signed into law:
S. 3245, which extends to September 30, 2015, the expiration dates of key requirements of four immigration programs administered by the Department of Homeland Security: the EB-5 Regional Center Program; the E-Verify Program; the Special Immigrant Non-Minister Religious Worker Program; and the Conrad State 30 J-1 Visa Waiver Program.
As the AAO and the federal district court decision for the same case show below, meeting the "at risk" requirement is tricky, and the federal district court in some sense side-stepped the primary issue of how to practically meet this requirement.
AAO Denial Decision: http://eb-5center.com/files/hakcohumaideb-5aaodismissalapr20200902b7203-...
Federal District Court (Northern Texas) Decision: http://eb-5center.com/files/humaidvroarkndisttx01262010eb-5-110320212859...
[Q] If I get married after I obtain CPR through an EB-5 case, will my spouse be accorded CPR status?
No, you have to marry before you obtain your Immigrant Visa if you and your spouse both want to obtain CPR status.
In this article to be updated and revised continuously, we are going to list some good, practical ideas which, if implemented by USCIS, will truly improve the EB-5 Program. However, we are not under an illusion that USCIS will implement any of the below ideas.
- Even when USCIS approves I-526 immigrant petitions, USCIS should notify the Regional Center if they believe the RC should change some aspect of the project in future, or if USCIS has some concerns. This is called a pro active communication which will prevent unintentional mistakes and save time and efforts for everyone.
Our client and family received I-829 approval notice in 2 years from the time they acquired CPR status. This means CSC approved the I-829 in less than 3 months. Link to the I-829 approval notice below.
For more sample I-829 approval notices, go to:
Note we rarely post any I-526 approval notices because CPR acquisition is not the ultimate goal of EB-5 investors: It's the acquisition of "permanent" green cards and the recouping of their investments.
Even though some of the factors for a business plan listed in the Matter of Ho appear to be hyper-technical and impractical -- especially where the investment model is for a NCE to make a commercial loan to a JCE -- a business plan should try to include the factors set forth in the Matter of Ho as closely as possible. What is unreasonable and also against the holding of Matter of Ho case, however, is the extent to which USCIS goes to try to fit in every real-life project into the square peg of this case. The case is actually applicable to an EB-5 case involving a stand-alone, small business enterprise which truly needed a comprehensive business plan to meet the preponderance of evidence standard.
Our position is that regs seem to say "no", and as a result, we have advised clients accordingly. However, we did hear from other attorneys that they managed to get their I-526s approved even when unsecured personal loans were used. We must caution you that we also heard of RFEs on this very issue, with the RFE stating that the regs require only loans secured with personal assets. So, if you want to be a hero, go ahead.
In this article to be continuously updated and edited, our goal is to list all arguably still-unresolved EB-5 issues. I say "arguably" because no one knows for sure if certain issues have been clarified sufficiently by USCIS to be relied upon without hesitation. Often, some of the below questions have been submitted as agenda questions in advance of various USCIS EB-5 teleconferences, but for some reasons, we have not observed USCIS answer them in a clear manner. Hopefully, USCIS will answer some of them in future.
Feel free to comment if you feel that soem of the issues have been answered adequately by USCIS, because I am not certain of any of the following issues.
CQ TODAY ONLINE NEWS – IMMIGRATION
Aug. 2, 2012 – 10:40 p.m.
Senate Passes Extension of Expiring Visa Programs
By Elham Khatami and David Harrison, CQ Staff
The Senate on Thursday passed a three-year renewal of a program that grants green cards to foreign investors and the government’s electronic workplace verification program, which are due to expire in September.
The amended version of the bill (S 3245), sponsored by Judiciary Chairman Patrick J. Leahy, D-Vt., and Republican Charles E. Grassley of Iowa, was advanced by unanimous consent. The bill also would reauthorize two temporary visa programs for religious workers and medical graduates until Sept. 30, 2015.
This teleconference had a USCIS attorney present, so USCIS was able to answer more substantive questions than the usual.
Job announcement has been announced for a new EB-5 Program Office Head.
USCIS kept on referring to another updated policy draft memo by Director Mayorkas coming out soon, but they were saying it would come out soon several months ago, so it's hard to say when it will be coming out.
USCIS also stated that any applicant who was denied on I-924 applications will be given a chance to show up personally in front of a Review Board composed of two supervisory USCIS officers and one economist. This implies that many I-924 applications will be denied. 209 approved regional centers currently.