March 21 2013

The EB-5 News Continues at an Even Faster Pace

China EB-5 quotas In its March visa bulletin, the Department of State (DOS) has revised a previous estimate that China would exhaust its quota and create a backlog in 2013. Here is what the DOS now says: Currently there is no reason to believe that it will be necessary to establish a...

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March 7 2013

USCIS Ombudsman

On March 5, 2013, I attended the Department of Homeland Security USCIS Ombudsman* EB-5 Stakeholders meeting in Washington, D.C.  Interestingly, this meeting was not publicized by USCIS. Ombudsman Maria Odom expressed interest in the EB-5 program. Also at the meeting were other members of her staff who have been very interested...

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March 1 2013

SEC Regional Center Fraud Investigation and SEC Compliance

The SEC has filed charges against and has frozen the assets of the Intercontinental Regional Center Trust of Chicago, LLC (“IRCTC”).  The Chicago Tribune ran a long story on this matter. There has been, and will be, more press coverage about this case in the U.S. and China. IRCTC raised more than...

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February 5 2013

EB-5 News

Canadian competition again? There is a rumor that Canada may again open its popular investor immigration program, creating competition with the U.S. EB-5 program. There was a backlog of about 26,000 applicants for the Canadian program when it was closed in the middle of last year. The Quebec program may open...

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February 2 2013

Breaking News — Senator Leahy Bill

Senator Leahy (D-Vt.), Chairman of the Senate Judiciary Committee, has been a strong supporter of the EB-5 visa program. He is circulating a draft bill making major revisions to this program. I am very pleased to see that it contains a concept that I developed and crafted when I was...

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