News
USCIS September 10, 2014 Stakeholders Call Report
Construction Jobs The USCIS answered my question put to them in writing: Q: Generally speaking, it is USCIS policy that the jobs need to be created at the time of filing the I-829 (or within a reasonable time, which the May 30, 2013 Memo says 1 year absent a force majeure). It...
Another Regional Center Fraud Charge
Los Angeles-based EB-5 attorney Justin Moongyu Lee has been indicted for misappropriating $47 million from 94 Chinese and Korean investors seeking EB-5 immigration. He promised them their capital would develop an ethanol plant which was never built. Lee was arrested on similar charges last year in Korea where he remains...
Hong Kong Restrictions for Chinese Funds Transfers
I understand Hong Kong has new restrictions on how much PRC nationals can wire per day out of Honk Kong. This is based on how much money one has in the bank. One person said he can wire out about $1 MM Hong Kong dollars or $200K USD per day. IIUSA...
The Media Has It Wrong
There are media stories and emails are coming in from Asia about the EB-5 program for China “closing” for the rest of 2014. This is not true. The Department of State has pushed a number of EB-5 visa applications to the American Consul in China to use up all of the...
China EB-5 Quota News
China EB-5 Quota News This weekend in Chicago, I met the State Department’s official who distributes visa numbers. He reported that extra visa numbers would be allocated to the American Consul in Guangzhou Consul, in order to use all 10,000 EB-5 numbers in fiscal year 2014. This is the first time...