The EB 5 Industry has the potential and cash flow to bring great success to many sectors of the US economy. Historically, the industry has primarily focused on entertainment venues, identified by Reid Thomas, but the industry is experiencing a dramatic disbursement into other areas of the EB-5 Industry. As a result, EB 5 investment programs will have an additional need for experienced EB 5 lawyers in Los Angeles and other areas of economic development. Read more
In February of 2015, US Citizenship and Immigration Services (USCIS) announced that they have developed and released a new and updated Form I-407, Record of Abandonment of Lawful Permanent Resident Status. Although it can seem counter-productive to give up the green card status, there may be situations in which it will be the best option for some people, depending on their individual circumstances. Read more
According to the United States Government Accountability Office, an economically distressed area is one with a poverty rate of at least 20 percent, coupled with an unemployment rate that is at least 1.5 times larger than the current national unemployment rate. Since the economic downturn that began with the collapse of the housing market in 2007 and 2008, an unfortunately large number of areas across the country can now qualify as economically distressed areas. Read more
Maneuvering through the immigration process and obtaining a green card can be confusing. There are several ways, however, to legally obtain a green card that many people may not know about. A hospital in Arizona is taking advantage of what is called the EB-5 program to not only provide a pathway for foreign investors to get a green card, but also to bring in much needed medical care for a local community.
As a result of the announced May 1, 2015 EB-5 China Cut-off, on April 22, 2015, , the Guangzhou consulate and the National Visa Center began sending out cancellation notices to immigrants who had been scheduled for EB-5 visa interviews. This is a new and unexpected development. The prevailing thought has always been that a visa number is assigned to an individual once the interview has been scheduled. This would allow Chinese national investors with both post May 1, 2013 priority dates, and interviews scheduled the opportunity to adjust status through the consular process regardless of the China cut-off. Unfortunately however, that practice is not being followed. Our office has received cancellation notices for investors under this exact scenario.
EB-5 professionals attended the third session of the U.S. Investment Immigration Forum (USIIF) last month in Shenzhen, China. The USIIIF included the second-annual Top 30 U.S. Investment Immigration Agencies Award Ceremony. Based in Newport Beach, the Law Offices of David Hirson & Partners, LLP, was the diamond sponsor and co-hosted the event that ran March 7 and 8. Attendees can see the Top 30 agencies via a tour on the 9th.
There were over 100 Chinese migration agencies from around the country in attendance. Also in attendance were the Chamber of Commerce representatives, investors, banks and migration associations. Most discussed the latest EB-5 information as well as found networking and potential investment opportunities. Read more
David Hirson & Partners, LLP is helping to sponsor the fifth-annual Invest in America Summit & Exhibition, which is the largest U.S. investment trade show and conference in China. Due to its popularity, this year’s conference will travel to three major Chinese cities, including the main event in Shanghai (March 14 and 15), Shenzhen (March 18), and Beijing (March 21).
The summit focuses specifically on the EB-5 investment program and is hosted by China’s preeminent emigration agency Wailian Oversea Consulting Group. Read more
Processing times at the U.S. Citizenship and Immigration Services (USCIC) are constantly in flux. Average wait times are posted around the 15th of every month to reflect processing times as of the previous month.
Cases are processed typically in the order in which they are received. Even though processing timeframes have been condensed to 13.8 months, they are — in practice — taking much longer. Petitions at Regional Centers are taking upwards of 16 to 18 months, while direct investment petitions are taking even longer. Read more
Immigrants sponsored by employers or family members are generally given priority for immigration visas. However, due to annual limits on the number of visas issued by country and immigration purpose, the wait for a visa or green card can still take years. For example, just 10,000 EB-5 visas are available for each year. When the limit is reached, a waiting list is established. Read more
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