posted in: EB-5 green card
Will the non-immigrant visa restrictions from Turkey affect EB -5 applicants from Turkey?

We have been getting numerous injuries from our Turkish EB-5 clients regarding the new restrictions on non-immigrant visas at US embassies in Turkey. Our clients are asking question such question as: “Will the new non-immigrant visa restrictions jeopardize my EB-5 application?”  The simple answer is no. The EB-5 green card application is an immigrant visa and the new restrictions at the US Embassies in Turkey are only regarding non-immigrant visas.   Non-immigrant visas are F-1, O-1, B-1, B-2, L1A, H1B, P-1, J-1, E-1, and E-2, which are not being issued at this time. However, EB-5 green cards are being normally processed at the US embassies in Ankara and Istanbul. Another question we have received regarding EB-5 is, “Will there be any problem with the regional center returning EB-5 applicant’s funds back to their personal account in Turkey?” First, there are no present restrictions regarding EB-5 funds being transferred back from the USA to a Turkish bank account.

In addition, after the EB-5 investor has received their green card, they can direct the regional center to transfer their investment funds to any account they may have throughout the world. The EB-5 green card holder can also keep the money in the United States and is under no obligation to move the investment funds back to Turkey. Our Turkish clients are concerned about the deteriorating relationship with the US government and the Turkish government; however, we have reminded our clients that EB-5 applications are still processed for countries such as Iran.   Therefore, regardless of how bad the US-Turkish relations become, the EB-5 investment program for Turkish nationals will always be an avenue in which to obtain a green card relatively quickly for Turkish citizens.

posted in: immigration reform, New Business Immigration Law, New Immigration Law, New York City Immigration Lawyer, Без рубрики
What is the difference between E2 Visa and then EB – 5 green card?

E2 visa is different because it does not lead to a green card.  It is a temporary visa that can be renewed on a two or five year basis, and the requirements for an E2 visa is about $100,000 investment into United States where you have to set up a business and then to see the money spent in the United States.  USCIS is getting much stricter with these visas, and is also requiring usually a minimum of two or three people on payroll along with making sure the hundred thousand dollars has been spent on the US business in United States.

What is the new countries added to TPS (temporary protective status)?

The TPS designations for the three countries are effective Nov. 21, 2014 and will be in effect for 18 months. The designations mean that eligible nationals of Liberia, Guinea, and Sierra Leone (and people without nationality who last habitually resided in one of those three countries) will not be removed from the United States and are authorized to work and obtain an Employment Authorization Document (EAD). The 180-day TPS registration period begins Nov. 21, 2014 and runs through May 20, 2015.

posted in: immigration reform, New Business Immigration Law, New Immigration Law, New York City Immigration Lawyer, Без рубрики
Below please see an example of how to prove the source of funding.

If an individual cannot prove how they obtained their $500,000, they can ask a wealthy friend to give them the $500,000.  If the wealthy friend gifts the $500,000 for the EB-5 applicant, the wealthy friend will have to show how his $500,000 gift was legally obtained.

So hypothetically, the wealthy friend has a salary of $200,000 a year and deposited the money into his personal account.  Once $500,000 from his salary is deposited into his personal bank account that should be enough proof of the legal source of funding.  However if during that time money was taken out of that personal account and different money from different sources was deposited into the applicant’s personal account the legal source of funding has not been approved.

So even if $500,000 of legally earned money is deposited into the wealthy friend’s bank account that may not be enough to prove legal source of funding, if at any time money was taken out of that account and money was re-deposited from each separate source.

As you can see, to prove the EB-5 source of funding to the US government imposes is a higher burden of proof.

But as with every case we would look at the individual’s total financial situation and find the clearest path to prove the legal source of funding for the EB – 5 program.

posted in: immigration reform, New Business Immigration Law, New Immigration Law, New York City Immigration Lawyer, Без рубрики
How does EB-5 investment regional center program work?

An EB-5 Regional Center is an organization designated by United States Citizenship and Immigration Services (USCIS) that sponsors capital investment projects for investment by EB-5 investors. The major advantage for regional center designation is that the regional center can take advantage of indirect job creation.

EB-5 applicant invests $500,000 into a regional center, and If the process goes smoothly, the entire family could receive their green card in about 12 to 14 months. The money is held for around six years, each year the EB-5 investors are supposed to receive a yearly return on their investment

Is there fraud in the EB 5-regional center programs?

There are some regional centers that have a questionable background and questionable track record.  In fact, 2013,the U.S. Securities and Exchange Commission (SEC) announced that The U.S. District Court Judge, ordered the return of more than $147 million in funds to investors who had given capital to the Intercontinental Regional Center Trust of Chicago.  And presently there is a regional center in Texas and a regional center in South Dakota that are under investigation by federal authorities.

The foreign investors who invested capital into these regional centers did not receive the proper advice and did not do the proper due diligence before they invested in these regional centers.

It depends on what the EB-5 regional center the investor wants: if he or she wants a large return of their investment, they may choose a risky or regional center that offers a high return.

If they just want their $500,000 return at the end of a six-year time they may choose a regional center with a high success rate who gives a very low return.

 

*** Andrew P. Johnson, a New York Immigration Lawyer, practices immigration law and has litigated immigration cases throughout the country.  His office handles all immigration issues and problems.  The Law Offices of Andrew P. Johnson has submitted proposed regulations for Congress in order to help streamline the US CIS.  In addition, Andrew P. Johnson, has been invited to speak in front of United States ambassadors and United Nations ambassadors regarding all aspects of immigration law.  The law office can reach for comments regarding Immigration Reform at 212.693.3355 or info@lawapj.com.

posted in: immigration reform, New Business Immigration Law, New Immigration Law, New York City Immigration Lawyer, Без рубрики
Chinese are now rushing to file for the EB-5 Green card before their cases get backlogged

For all countries, there is an allocated 7% of the total EB 5 visas available per year.  For China, that equates to about 9940 per year.  The Department of State has estimated that the Chinese nationals will reach that number in 2014.  This means that if the EB 5 is filed, and 9940 visas were already been submitted this year, the applicant needs to wait for an additional 6 to 12 months to process their EB 5 case.  Moreover, if more Chinese nationals keep applying, the backlog will increase in time.

 

In addition, the Canadian investor program has been recently terminated.  Canada offered a guaranteed permanent residence status in exchange for a guaranteed $800,000 investment.  The United Kingdom, Australia and New Zealand require as much as 5 to 10 million dollars, and do not offer up-front permanent residency.

 

A percentage of Chinese nationals who are planning to invest in the Canadian investor program are now filing the EB – 5 applications in the United States since the United Kingdom, Australia and New Zealand require between 5 to10 million dollar investments.   This will obviously increase the backlog and longer waiting time for the US program.

 

The good news is that there are numerous congressmen who are trying to increase the monetary amount for the EB 5 requirement, however, the US Congress does not appear on planning to pass any immigration reform anytime soon.