February 28 2014

February 2014 USCIS Stakeholder Meeting

Nicolas Colucci, the new USCIS EB-5 director, announced on the USCIS stakeholder call held February 26, 2014, his plans to improve the basic EB-5 program during fiscal year 2014-2015. The process will begin by hiring 100 new employees dedicated to the program, most of whom will be adjudicators. A very ambitious...

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February 20 2014

Reading the TEA Leaves

An upcoming change in the data used to determine the unemployment rate for certification of targeted employment areas (TEAs) may have consequences for funding current and future projects. The project must principally do business in a TEA at the time of the immigrant’s investment for the minimum amount to be $500,000....

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February 14 2014

Help from our Canadian Friends

The Canadian Finance Minister has abruptly announced the elimination Canada’s popular Immigrant Investor Visa Program. An estimated 45,000 Chinese investors will have their applications terminated and funds returned. Many of these investors will now be looking at our EB-5 program. The Canadian program was substantially different than the EB-5 system. Canada...

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February 7 2014

Adding the Commerce Department to the Mix

On February 4, 2014, the Brookings Institute, a Washington think-tank, released a report recommending supervisory oversight of the adjudication of regional center applications by the Commerce Department. This study supports the December findings of Homeland Security’s Inspector General that the EB-5 program exceeds the USCIS mission and should use the...

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January 24 2014

More Talk of Visa Backlog for Chinese EB-5 Cases

Eighty-five percent of EB-5 cases involve investors from China. It is anticipated Chinese investors will use up their quota of the 10,000 EB-5 visas this fiscal year. The State Department predicts the visa list may backlog this July. In October 2014, 10,000 visas become available for fiscal year 2015. The approved...

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