EB-5 Immigrant Investor Program: New Regulations [infographic]

On November 21, 2019,  new regulations went into effect, dramatically altering the EB-5 Immigrant Investor Program. Here’s what you need to know:

 

New regulations for EB-5 Immigrant Investor Program

Thoughts about the current situation for the EB-5 Immigrant Investor Program

Thoughts About the EB-5 Immigrant Investor Program’s Current Situation

This is an opinion piece adapted from ILW’s article, “Wishful Rumors,” that was published in an email blast on November 15, 2019.

November 21, 2019 marks the beginning of following new rules for the EB-5 Immigrant Investor Program. Some rumors have been circulating about whether anyone will try to stop these new rules. The rumored ways of stopping these rules focus around each of the three parts of the U.S. government. We believe that it is highly unlikely for anyone to stop these new rules from being enacted, so we should all be preparing to adjust to the new requirements.

1. Judiciary

Some have wondered if anyone will try obtaining a Temporary Restraining Order (“TRO”) from a judge that would stop the new rules from being put into place. Attorneys familiar with the process of obtaining a TRO say that this is unlikely since a judge typically only grants a TRO if it looks like there can be changes made to whatever is being restrained. It is highly unlikely that any changes would be made on these new rules.

2. Executive

The only way anyone in the Executive Branch could stop the new rules is if there was a true national emergency, i.e. a war breaks out or a natural disaster causes extreme damage. Even the President is lawfully unable to issue an Executive Order that affects these new rules.

3. Legislative

The Legislative Branch is the only branch that could change these new rules. But there needs to be a strong group of legislators who are willing to take the lead and change these rules through either a Continuing Resolution (“CR”) or a new statute. This path has proven to be deadlocked for years. Many are hopeful that Congress will eventually pass long-term changes to the program, but everyone is unsure of when this will actually come to pass.

One bill that is currently being considered by Congress, S.2778 – Immigrant Investor Program Reform Act seems to be gathering some good support. We are hopeful that Congress will eventually pass legislation making the program stronger for the future.

If you have any questions about the new changes to the EB-5 immigrant investor program, or you have questions about your immigration plans, contact us today to schedule a consultation with one of our attorneys.

Tel: +1-949-383-5358                      Email: info@hirson.com                                Website: www.Hirson.com

David Hirson & Partners, LLP Educates and Sponsors Immigration Conference in Vietnam

Attorney Phuong Le, Partner at David Hirson & Partners, LLP (DHP) recently returned from educating Vietnamese nationals about U.S. immigration strategies and standards. Attorney Le is recognized in Vietnam as a trusted source for U.S. immigration law and innovative immigration strategies.

On October 5, 2019, Attorney Le presented at the Khai Phu Vietnam Investment & Migration Summit held at Le Meridien Saigon. Attorney Le discussed and answered questions about EB-5, L-1, and E-2 visas. These visas are all popular and valuable pathways for Vietnamese families to successfully immigrate to the U.S. Attorney Le talked about how upcoming major changes to the EB-5 program make now the best time to invest and apply for an EB-5 visa.

After November 20, 2019, the EB-5 program changes, including increasing the minimum investment amount. DHP’s experienced attorneys can help you understand all of the changes to the EB-5 program as well as other U.S. visa possibilities.

While Attorney Le leads DHP’s dedicated Vietnam practice, DHP also has other teams of immigration professionals ready to assist individuals and families from all over the world with their U.S. immigration plans.

Contact us today to schedule a strategy session and find out your best options for U.S. business and family immigration.

Tel: +1-949-383-5358                            Web: www.Hirson.com                                          Email: info@hirson.com

Questions we're asking about EB-5 right now

EB-5 Legislative Update: Mid-September

This post addresses 3 ideas that are currently being discussed in the EB-5 world:

  • Will President Trump do something to “save” the EB-5 program?
  • Will the new EB-5 regulations be repealed by Congress?
  • Will Congress finally enact new EB-5 legislation?

These are all good questions to consider, but the simple answer to all of them is: No. Let’s take a look at each question in a little more detail:

1. Will President Trump do something to “save” the EB-5 program?

Many people look at Trump’s interests and track record with real estate development and believe that he understands and supports real estate deals across the U.S. Trump is not in a position to “save” the EB-5 program as President. Not even his use of executive orders can change the Administrative Procedure Act (APA). The APA is the government’s rules on how to change its own rules. The APA is a set process that takes time in order for any change to be made.

2. Will the new EB-5 regulations be repealed by Congress?

Senator Rand Paul from Kentucky has been trying to get Congress to use the Congressional Review Act (CRA) to overturn or stop the new EB-5 regulations. While there have been many attempts to use the CRA since 1996, there have only been 3 times when the CRA was successfully used to overturn new government regulations. 3 CRA overturns in 23 years is not a very high percentage of overturns.

3. Will Congress finally enact new EB-5 legislation?

While the EB-5 industry continues its efforts to lobby Congress for new EB-5 legislation, there is no real result in sight yet from these efforts. Everyone can see how divided the U.S. Congress is, especially when it comes to immigration issues, including EB-5. With no consensus in Congress, there can be no legislative changes for the EB-5 program either.

The conclusion from all of this is:

  • Be prepared for a Continuing Resolution (CR) to most likely be passed by Congress which allows the EB-5 Regional Center Program to continue unchanged from September 30, 2019 to November 21, 2019; and
  • Be prepared for Congress to pass another CR in order for the EB-5 Regional Center program to continue after November 21, 2019.
    • Note: Direct EB-5 investments and petitions can continue without needing any CR from Congress. Direct EB-5 investments will have to follow the new EB-5 regulations after November 21, 2019 though.
  • Be prepared for the new EB-5 regulations which will come into effect on November 21, 2019.

Contact us with your questions and to speak with one of our immigration attorneys to discuss the best immigration pathway for you and your family.

Tel: +1-949-383-5358                            Web: www.Hirson.com                                          Email: info@hirson.com

EB-5 attorneys help family receive travel ban waivers and approval to enter the U.S.

David Hirson & Partners Guides Client Through Heightened Vetting Process to Receive Travel Ban Waiver

Earlier this summer, David Hirson & Partners, LLP (“DHP”) successfully helped an EB-5 investor client’s entire family of nine obtain travel ban waivers. These waivers were required in order for the family to be issued immigrant visas and enter the U.S.

Our client received approval of their EB-5 petition back in 2017 and attended their consular interview in Abu Dhabi in 2018. During their interview, the entire family was asked to complete Form DS-5535 (except the minor children under 14). This is an enhanced vetting form that requires the disclosure of the following for each applicant:

All: Past 15 years of: Past 5 years of:
Passport numbers & country of issuance Travel history Telephone numbers
Names birthdates of immediate family members Home addresses Social media usernames/handles
  Employment History Email addresses

After completing the requested forms, this family’s case remained “pending in administrative processing” for a few months, at which point DHP was retained to file a travel ban waiver packet for the family. Our firm compiled and filed the travel ban waiver packet based upon the family’s and investment’s given circumstances.

A travel ban waiver packet is evaluated based on three factors:

(1) entry is of national interest to US (here the EB-5 program);

(2) denying entry would cause undue hardship (here to the family, petitioner, and project); and

(3) entry would not pose a threat to national security or public safety.

Less than six months after DHP submitted the travel ban waiver packet, the consulate emailed the client for continued processing, asking for updated medical exams and passports, along with new DS-260 submissions. The applicants were also required to come to the embassy to retake the oath. The client and family members completed everything that was asked of them and they were all approved to enter the U.S.

All DHP attorneys and staff share a common goal of helping immigrants lawfully navigate the U.S. immigration system. Contact our office to schedule a consultation to see how we can help you and your family’s immigration dreams.

Tel: +1-949-383-5358                            Web: www.Hirson.com                                          Email: info@hirson.com

EB-5 investor visa updates coming in November

EB-5投资移民项目新法案将于2019年11月21日生效

Original English version

美国公民及移民服务局(USCIS)宣布新的EB-5投资移民法案将在2019年7月24日正式公布,并于2019年11月21日开始生效。这是自1990年美国国会创立此法案以来的第一次重大变革。我们公司将会尽快提供更多该法案的细节,但新政策主要包括:

  1. 新投资额:最低投资额为1,800,000美金。位于目标就业地区(TEAs)的项目最低投资额为900,000美金。但是目标就业地区认定过程的可能使该目标区域的大多数项目难以获得TEA认证。
  2. 更新的目标就业地区(TEAs)认定:目标就业地区(TEA)的认定将由美国公民及移民服务局(USCIS)决定,并且由于对连续人口普查的聚集和合并区域的限制,可能认定范围将会越来越窄。如果投资项目仅限于单个或者“直接相邻”人口普查区域,则可能导致大多数项目的投资额达到1,800,000美金。
  3. 优先日期保留的新规定: 如果投资申请人以后必须提交新的I-526申请,他们将能够保留其先前被批准的I-526申请的优先日期。这种灵活性可以保护投资人已经获得了1-526申请的批准,但是由于他们无法控制的情况(例如区域中心终止)可能会使其资格收到损害的情况。这种灵活性还允许在提交投资计划中的一些创意的转换,而不会危及到优先日期。不会将主申请人或投资人的优先日期赠送或者转移给衍生受益人。
  4. I-829灵活性: 如果投资人自己的I-829申请中没有包含其衍生家庭成员,那么衍生家庭成员必须在I-829阶段提交他们自己的申请。

重要的是了解这项新法案将于2019年11月21日生效,即自联邦公报发布之日起的120天。根据现行的EB-5规定,在此之前 “适当提交请愿书” 将被裁定。(备注:请注意,鉴于法案生效前有120天的空档期, EB-5投资计划可能会被重新授权(在2019年9月30日之前),新的改革可能会是从美国公民及移民服务局通过一项新的重新授权的法规。

在新法案生效前,我们有120天的时间。我们专业的EB-5团队在过去两年的时间里已经递交了数千份EB-5投资申请,并与我们的合作伙伴/客户密切合作,在满足不同时限的要求下,成功地为他们提交了EB-5的申请。我们建议现有的合作伙伴和客户立即与我们联系,以确保在新法案于2019年11月21日生效之前正确的提交所有案例。

 

电话: +1-949-383-5358              电子邮件: info@hirson.com       网站: www.Hirson.com

 

11/21/2019 부터 시행될 EB-5투자이민 프로그램의 새로운 규정

Original English version

미국 이민국(USCIS)은 2019년 11월 21부터 시행되고 내일 (2019 년 7 월 24 일) 발간될 새로운 EB-5 규정을 발표했습니다. 이는 1990 년 미국 의회에서 창안된 이래로 이 프로그램의 첫번째 중요한 변화입니다. 저희 로펌은 곧 더 자세한 내용을 제공할 예정이지만 주요 변경 사항은 다음과 같습니다:

1) 신규 투자 금액: 최소 투자 금액은 180 만 달러입니다. TEA (Targeted Employment Areas) 에 위치한 프로젝트의 투자 금액은 최소 900,000 달러입니다. 그러나 TEA 지정 프로세스의 변경은 TEA 지정 자격을 얻기위한 대부분의 프로젝트들을 매우 어렵게 만들수 있습니다.

2) 수정 된 TEA 지정: TEA 결정은 USCIS 가 담당하며 인접한 인구 조사 구역을 집계하거나 결합하는 데 한계가 있으므로 훨씬 줄어들 것입니다.  프로젝트가 단일 또는 “바로 인접한”인구 조사 지역이면, 대부분의 프로젝트 자금은 180 만 달러가 되어질 것입니다.

3) 우선 날짜 보유 위한 새로운 규칙: 나중에 I-526 신청서를 새로 접수해야하는 경우, 신청자는 예전에 이미 승인되어진 I-526우선 순위 날짜를 유지할 수 있습니다. 이러한 유연성은 I-526 청원이 승인된 투자자를 보호하지만, 통제가 불가능한 상황 (예 : 지역 센터 해지)으로 인해 자격이 위태로워질 수 있습니다. 이러한 유연성은 또한 우선 순위 날짜를 위태롭게하지 않으면서 접수한 후에 투자 전략에서 창의적인 전환을 가능하게 합니다. 그러나 우선 순위 날짜를 주요 신청자 / 청원자로부터 그들의 배우자나 자녀들에게 양도할 수 없습니다.

4) I-829 유연성: 투자자의 가족은 투자자의 I-829 청원서에 포함되지 않은 경우 I-829 단계에서 본인의 I-829 청원서를 제출해야합니다.

이 새로운 규정은 연방 등록부에서 발행한 날로부터 120 일 후인 2019 년 11 월 21 일에 발효될 것임을 이해하는 것이 중요합니다.  그전에 “적합하게 접수된 청원서”는 현행 EB-5 규정에 따라 판결될 것입니다. (참고: EB-5 개정안이 효력을 발생하기 전에 120 일간의 유예기간이 주어진 상황에서, EB-5 프로그램이 (2019 년 9 월 30 일 이전에) 국회를 통해EB-5 프로그램이 USCIS 가 발표한 개정법안과는 다른 내용으로 재승인될수 있는 가능성도 배제할수 없기때문에 조심스럽게 상황을 지켜봐야하겠습니다).

우리는 이제 새로운 규정이 효력을 발생하기까지 120일의 시간이 있습니다. 우리 그룹은 지난 2년 동안 수천 건의 EB-5 청원서를 제출했으며 EB-5 사례를 성공적으로 접수하기 위해 저희의 파트너들 / 고객들과 긴밀히 협력해 왔습니다. 현재 저희의 파트너들 및 고객들은 새로운 규칙이 2019 년 11 월 21 일에 발효되기 전에 모든 케이스가 적절하게 접수되도록 저희에게 즉시 연락 주시기를 당부 드립니다.

Tel: +1-949-383-5358                      Email: info@hirson.com                Website: www.Hirson.com

Major EB-5 Regulations coming in November

DỰ LUẬT MỚI CHO CHƯƠNG TRÌNH ĐẦU TƯ EB-5 HIỆU LỰC TỪ NGÀY 21 THÁNG 11 NĂM 2019

Ngày 24 tháng 7 năm 2019, Cơ Quan Nhập Tịch Và Di Trú Hoa Kỳ (USCIS) đã công bố chính thức dự luật mới cho chương trình đầu tư EB-5. Dự luật mới sẽ bắt đầu có hiệu lực từ ngày 21 tháng 11 năm 2019. Đây là những sự thay đổi cực kỳ quan trọng cho chương trình đầu tư di trú từ những ngày đầu khi quốc hội khai sinh ra chương trình này năm 1990. Chúng tôi sẽ cung cấp thêm nhiều chi tiết cụ thể hơn sau, và những thay đổi quan trọng bao gồm:

1) Tiêu chuẩn mới về số tiền đầu tư: Số tiền đầu tư tối thiểu sẽ là 1 triệu 8 trăm ngàn đô la Mỹ ($1,800,000). Số tiền đầu tư tối thiểu cho những dự án nằm trong khu Trung Tâm Vùng (TEA-Targeted Employment Area) sẽ là chín trăm ngàn đô la Mỹ ($900,000). Tuy nhiên, dự luật mới với những thay đổi giành cho trung tâm vùng sẽ có thể gây khó khăn lớn trong việc thành lập những dự án thoả mãn cho việc thành lập trung tâm vùng.

2) Sửa đổi tiêu chuẩn cho Trung Tâm Vùng: Tiêu chuẩn cho trung tâm vùng sẽ được quyết định bởi USCIS và sẽ có khả năng những tiêu chuẩn sẽ được thu hẹp lại gắt gao hơn do sự xác nhập tổng quát vị trí địa lý của khối kinh tế. Nếu dự án bị giới hạn vào “vùng trực tiếp”, khả năng dự án phải lên một triệu tám $1.8.

3) Quy định mới cho việc duy trì ngày đáo hạn (priority date): Nếu sau này phải nộp hồ sơ I-526 mới, đương đơn sẽ được quyền duy trì ngày đáo hạn bằng ngày hồ sơ I-526 cũ được chấp thuận. Tính linh hoạt này sẽ bảo vệ nhà đầu tư mà đơn I-526 đã được chấp thuận nhưng chưa có khả năng hội tụ đủ điều kiện vì những tình huống ngoài sự kiểm soát của họ (ví dụ trung tâm vùng bị giải tán). Sự linh hoạt này cũng cho phép nhiều sự sáng tạo trong phương pháp kiến tạo phuơng thức đầu tư sau khi nộp hồ sơ mà không gây ảnh hưởng tới ngày đáo hạn.

4) Sự linh hoạt cho đơn I-829: Người thân trong gia đình hưởng lợi ích phát sinh bắt buộc phải tự nộp hồ sơ I-829 nếu bản thân họ không nộp cùng lúc khi đương đơn chính nộp đơn I-829.

Dự luật bắt đầu có hiệu lực từ ngày 21 tháng 11 năm 2019, 120 ngày kể từ ngày đuợc phát hành trên thông cáo của Liên Bang, và việc thông hiểu thông hiểu những điều luật mới ngày rất quan trọng. Nhưng hồ sơ nộp đúng cách trước cột mốc này sẽ được cứu xét dưới dự luật đương thời. (Lưu ý: Xin lưu ý rằng mặc dù 120 ngày cho phép trước khi dự luật mới có hiệu nghiệm, sẽ rất có khả năng chương trình EB-5 sẽ được phê chuẩn tiếp (trước ngày 30 tháng 9 năm 2019) với những đạo luật mới nữa mà có thể sẽ đối nghich với những đạo luật sắp thông qua nêu trên.

120 Ngày kể từ hôm nay, dự luật mới sẽ hiệu nghiệm. Cùng với đội ngũ nhân viên dày dạng kinh nghiệm và quá trình làm việc chặt chẽ với những đối tác kinh doanh, chúng tôi đã hỗ trợ quý thân chủ để nộp hàng ngàn những hồ sơ EB-5 trong vòng hai (2) năm qua, giúp quý thân chủ đi trước những điểm mốc nhạy cảm. Hãy liên hệ với chúng tôi ngay để đảm bảo hồ sơ của quý khách được nộp trước khi dự luật mới có hiệu nghiệm.

Tel: +1-949-383-5358                      Email: info@hirson.com                Website: www.Hirson.com

Major EB-5 Regulations coming in November

EB-5 Immigrant Investor Program: New Regulations Effective on 11/21/2019

U.S. Citizenship and Immigration Service (USCIS) has announced new EB-5 regulations that will be published tomorrow (7/24/2019) and become effective on 11/21/2019. These are the first significant changes to the program since it was created by U.S. Congress in 1990. Our firm will be providing more details soon, but major changes include:

1) New Investment Amounts: The minimum investment amount will be $1.8 million. Projects located in Targeted Employment Areas (TEAs) will have a minimum investment amount of $900,000. However, changes in TEA designation process may make it extremely difficult for most projects in desirable areas to qualify for TEA designation.

2) Modified TEA Designations: TEA determinations will rest with USCIS and will likely be much narrower due to limits on aggregating or combining contiguous census tracts. If projects are limited to a single or “directly adjacent” census tracts, it may make most projects $1.8 million.

3) New Rules for Priority Date Retention: Petitioners will be able to retain their Priority Date from previously approved I-526 petitions if they later have to file a new I-526 petition. This flexibility protects investors who have approved I-526 petitions but may have their eligibility jeopardized due to circumstances out of their control (such as Regional Center termination). This flexibility also allows some creative switching in investment strategies after filing without jeopardizing Priority Date. No gifting or transferring Priority Dates from primary applicants/petitioners to derivative beneficiaries.

4) I-829 Flexibility: Derivative Family Members must file their own petitions at the I-829 stage if they are not included on the investor’s own I-829 petition.

It is important to understand that these new regulations will become effective on 11/21/2019, 120 days from the date of publication in the Federal Register. “Properly filed petitions” before that time will be adjudicated under current EB-5 rules. (Note: Please keep in mind that given the 120-day window before the regulations are effective, there is a chance that the EB-5 program may be reauthorized (prior to 9/30/2019) with new reforms making these new regulations from USCIS moot through a new reauthorization statute.)

We now have 120 days before these new regulations become effective. Our dedicated EB-5 group has filed thousands of EB-5 petitions during the past two years and have worked closely with our partners/clients to successfully file their EB-5 cases prior to meet various timelines. Our current partners and clients are advised to contact us immediately to ensure all cases are properly submitted before these new rules come into effect on 11/21/2019.

Tel: +1-949-383-5358                      Email: info@hirson.com                Website: www.Hirson.com