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EB-5 News, Law & Developments
Timely news in EB-5 and related areas all in one place!
USCIS issued on Feb. 14, 2013 an updated draft for further comments. See:
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.
USCIS could have made the Guidance Memo more clear and easier to comply, but it's not their style, I guess.
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.
According to Charles Oppenheim, the Chief of Visa Controls and Reporting Division at the U.S. Department odf State who spoke at a recent IIUSA conference in Washington D.C., if the current growth trajectory continues for Chines EB-5 investors investing in the EB-5 regional center program, he anticipates that the issuance of Green Cards to Chinese investors will be suspended in the second half of 2013. We definitely see the priority date waiting taking place late 2013 or early 2014.
Mr. Joseph Whalen has posted his observations on a redacted RFE involving tenant-occupancy issues. We do not know how recent the RFE is, but when you read the RFE, it seems like it's getting very difficult to get a renovation or development projects involving tenant jobs, even where only indirect tenant jobs are counted, based on a rationale that these indirect/induced jobs are based on the direct tenant jobs. It seems USCIS could reject any tenant jobs (even new ones, not relocated ones) based on a rationale that there is no sufficient nexus.
A very interesting article on some potential issues for Chinese EB-5 cases. Does this article raise unfounded fears for Chinese EB-5 cases, or are these fears justified? A nicely-written article though.
What caused this, because as far as we know, most of the RCs are not involved in any fraud. Also, USCIS is very tough on EB-5 cases. See the article at:
Also, isn't this something that USCIS should be letting the EB-5 stakeholders know, since this audit seems to have leaked already?
Copy of the Complaint: http://www.courthousenews.com/2012/09/17/RomanEmpire.pdf
Updates on the case:
Status Conference Order: http://www.slideshare.net/BigJoe5/carlsson-oct-11-2012-conference-minute...
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.
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.
But that will provide any review procedure for I-526 and/or I-829 denials. Director Mayorkas must pass the finalized version of the Policy Guidance Memo as soon as possible
I am pleased to announce that U.S. Citizenship and Immigration Services (USCIS) will be creating a new office to oversee our administration of the EB-5 Immigrant Investor program.
We listened in on the teleconference, and basically, their new policy is as follows:
Links where you can find info on this new policy being implemented immediately: