Friday, April 28, 2017
Thursday, February 2, 2017
EB-5 VISA: $500,000 will be $1,350,000
On January 13, 2017, The U.S. Department of Homeland Security (DHS) that governs the EB-5 Investment Based Green Card Program through the USCIS, issued a Notice of Proposed Rulemaking in the Federal Register that will dramatically change the current program on or before April 28, 2017.
In the United States, changes are implemented by either the Senate and Congress passing laws that are then signed by the President or; Agencies (such as DHS) can issue changes under regulatory authority and place in the Federal Register of Laws.
The DHS has, using its regulatory authority, announced the following important changes to the regulations:
1) Increase to the Investment Amounts: The DHS is proposing to increase the minimum investments for new EB-5 petitioners, to reflect that the program meets the present day dollar value of the investment. Projects that are in a Targeted Employment Area (TEA), which is an area of high unemployment, will increase from $500,000 to $1.35 million. The DHS is also proposing to make regular increases to the minimum investment amount every 5 years.
2) TEA Designations: Reform the Targeted Employment Area (TEA) to ensure that designations comply with the original intent of Congress. DHS allows any city or town with high unemployment and a population of 20,000 or more to qualify as a TEA. Currently, a state designates the city or town as TEA. The DHS proposes to eliminate the ability of a state to designate certain geographic and political subdivisions as high unemployment areas, instead making the designations directly.
3) Priority Date Retention: The DHS proposes to authorize certain petitioners to retain their priority date of an approved immigrant investor petition for use in connection with any subsequent EB-5 immigrant petition. The priority date retention would be a valuable change due to strong possibilities that the EB-5 visa category will remain oversubscribed in the future. The priority date is the date the petition was filed with the USCIS. Typically, when the high demand of visas exceeds the number allocated for the visa category a priority date is considered more advantageous.
“This was an unexpected and swift ruling by the DHS, as we had been anticipating changes proposed by the Senate and Congress closer to the April 28th deadline. The time is now to file for EB-5, while the minimum investment is $500,000. until the comment period of April 11th” warns Dr. Jay Sheth, Managing Partner of MCFI.
The EB-5 investment grants green cards to the entire family which includes the investor, spouse, and any unmarried children under the age of 21. For each investor and their family, 10 jobs need to be created on their behalf to be eligible to receive a permanent green card.
Investors can enjoy the benefits of living and working anywhere in the United States, sponsor green cards for relatives, travel abroad and return to the United States without an additional visa, study in the United States at resident cost and after 5 years of eligible stay, apply for United States citizenship.
With this new ruling of $1.35 million, applicants are highly encouraged to contact the MCFI Regional Centers immediately to initiate their petition filing before the April 28th deadline.. Dr. Sheth recommends to invest only in a project that is approved by the USCIS, with other investors that have already received green cards for their family. MCFI clients from India, China, Nigeria, Egypt, and Dubai, who have invested in USCIS approved projects, have already received Green Cards and are living and working in the United States.
Based on MCFI’s extensive experience, compiling personal and financial documents takes the most time for the applicant to collect, not facilitating the funds. In order to initiate filing, applicants should be able to provide the following documents for their immediate family: Passports, Birth Certificates, Marriage Certificate, 6 months of Bank Statements and 5 Years of Tax Returns. After this information is gathered by working with the investor, MCFI Regional Center forwards the documents on to an immigration attorney for review. Average preparation time for a petition filing takes approximately 2-3 weeks once your appointed immigration attorney reviews and submits the file to USCIS.
Appointed by USCIS in 2010, The Midwest Center for Foreign Investment (MCFI) Regional Center has convenient offices in Atlanta, Louisville, Kentucky and Houston, Texas. MCFI also has 2 offices in India located in Ahmedabad and Baroda in Gujarat. MCFI’s website is www.mcfiusa.com
MCFI offers a wide range of investment opportunities such as a USCIS approved mixed use development, a 96 bed hospital and an assisted living facility.
Our USA and India teams from MCFI Regional Centers are available to answer any questions and can provide assistance to applicants.
For more information on MCFI and the EB-5 program in USA, please contact Dr. Jay Sheth at email@example.com, Leigh Bodenheimer, at firstname.lastname@example.org or call 1-678-302-0707. To reach MCFI India, please contact Mitesh Sheth at email@example.com, or Jignesh Vora at firstname.lastname@example.org. MCFI India can be reached by phone or Whatsapp at +91 99099 91381 or +91 98242 99776.
at 12:08 PM
Sunday, December 25, 2016
Monday, July 4, 2016
Thursday, June 30, 2016
Saturday, June 4, 2016
Mr. Ali, you have inspired the world with your love and wisdom.
We are deeply saddened by this loss, but know the memory of your inspirational words will go on forever. Our hearts go out to Mr. Ali's family at this time.
at 8:47 AM
Monday, February 8, 2016
Saturday, November 7, 2015
Monday, June 29, 2015
A recent article from Vanguard Newspaper in Nigeria outlines the EB-5 program:How to benefit from US investors visa programme
Business Thursday, June 25, 2015
By Yinka Kolawole, with agency report
The US Investors Visa Programme was created by the Immigration Act of 1990 to encourage the flow of major investments into the United States to help stimulate the economy through job creation. In exchange for the investments made, the United States offers the foreign investors a variety of immigrant and non-immigrant visa options, such as EB-5; L-1 or EB-1C. This article aims at demystifying the myths associated with the various U.S. Investor Program.
According to Dr. Martins Imudia, attorney and Director at the Centre for U.S. Immigration Services in Tampa, Florida, it is not enough to buy property in the United States to obtain investors visa.
He, however, noted that if the investment in property such as house(s) or other form of real estate is substantial enough, leading to sustainable job creation, investors’ visa may be obtained.
“Many clients have had to invest well over $0.5 million hoping to gain legal permanent residency only to come to us years later and realize that a visa is not available based on the investment. The investors or business visa categories are premised on job creation. Therefore, buying property or other forms of investment is not enough, if sustainable jobs are not created,” he said.
In order to qualify for an EB-5 visa, the foreign investor must establish that he/she will be investing a minimum of $500,000 in a new enterprise, if investing in a Targeted Employment Area (TEA), or $1,000,000, if investing in a metropolitan and Non-Targeted Employment Area (Non-TEA). Starting in September of 2015 under the proposed changes to EB-5 law, the minimum investment required from foreign nationals to qualify for an EB-5 is $800,000 for TEA investments as compared to the $500,000 minimum currently required.
As for non-TEA, the minimum investment requirement would be at $1.2 million. In addition to the amount involved, the investment must create 10 sustainable jobs for citizens and green card holders. ”What we find with the property investors is that they buy multiple houses with no path for job creation.
In addition to the challenges of not being able to create jobs, investors run the risk of falling foul of the law depending on how they are paid rents or profit from the property because they do all these without any work authorisation. Before investing in property with the ultimate goal of obtaining an immigrant visa, consult with an experienced immigration attorney,” Imudia stated.
Most EB-5 practitioners are not familiar enough with a particular market to properly document funding on their own. Also, tax regimes in most emerging countries are weak, so the investor’s source and path of investment funds must be carefully documented to meet U.S. requirements. By transferring money and buying property, it may become more difficult to document the source of funds. Potential investors must therefore work with their EB-5 representatives to discern best practices for documentation.
The EB-1C visa is a good way for small or start-up overseas companies to expand their business and services to the United States. It is reserved for mid to high-level employees of multinational businesses who are being asked by their employer to move to the US. In order to qualify for a Multinational Manager or Executive Visa, an applicant must meet certain requirements - three year work period with the multinational company and specialized background.
Unlike the EB-1C, an L-1 visa is a type of a non-immigrant visa, which allows companies to not only conduct intra-company transfers of its employees from its foreign office to its United States office, but – in cases where the foreign company does not have a United States-based office – it also allows them to send executives or managers for the purpose of setting up a new one.
To qualify for this, the foreign investor must show that he or she has secured the necessary location to house its new office, and that the employee being sent under an L-1 status is someone who has held an executive or managerial position continuously for one year within the three years preceding the filing of an L-1 application.
In addition, the foreign investor investing in a new office in the United States must show that the new office is one that will support an executive or managerial position within one year after the L-1 petition has been approved.
For the L-1 visa classification approval, the foreign investor need not meet any monetary investment requirements. However, although there is no specific monetary value required for an L-1 visa, unlike an EB-5, it does not grant its holder permanent residency immediately. Over the course of some years however, the L-1 visa holder may apply for EB-1C visa and obtain immigrant visa so long as jobs are created based on a sustainable substantial investment.
Benefits of investors visa
While investors ultimately obtain immigrant visas for themselves and their family members (spouse and unmarried children under 21), many investors have used the EB-5 platform to transfer technology to their home countries. The platform enables investors to incubate innovative businesses and transfer technology and resources when needed.
Also, since the United States is the most desired education destination, by obtaining investors visa before children reach the university level, they are able to take advantage of lower university fees.
Decision on steps for obtaining investors’ visa (whether L-1, EB-1C or EB-5) requires careful review of the investorfs immigration goals and financial resources. It is best to consult with a qualified immigration attorney if you are seeking to enter the United States as an investor.
at 10:51 AM