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  • EB-5 Visa based on Regional Center Investment


    Does anybody have any experience of the EB-5 visa program which grants
    a conditional green card if $500,000 is invested in a designated
    regional center

    Thanks

    --
    Posted via http://britishexpats.com

  • #2
    EB-5 Visa based on Regional Center Investment

    Does anybody have any experience of the EB-5 visa program which grants a conditional green card if $500,000 is invested in a designated regional center Thanks
    In most cases read designated regional center as somewhere you don't
    walk alone at night...or even the day in some case...The allotted visas
    available never get used up...

    --
    Posted via http://britishexpats.com

    Comment


    • #3
      EB-5 Visa based on Regional Center Investment

      In most cases read designated regional center as somewhere you don't walk alone at night...or even the day in some case...The allotted visas available never get used up...
      I considered this, but there is no proof they actually work (I assume
      you have been offered the Seattle Property scheme).

      You will probably get the initial conditional green card, but factually
      no-one has had the conditions removed and most people get sent 'home'
      whilst owning a 500K investment somewhere in US.

      Politically it is seen as buying a green card. Which is what it is, but
      some people have a problem with this......

      Face it America doesn't actually need any more millionaires....

      --
      Posted via http://britishexpats.com

      Comment


      • #4
        EB-5 Visa based on Regional Center Investment

        I considered this, but there is no proof they actually work (I assume you have been offered the Seattle Property scheme). You will probably get the initial conditional green card, but factually no-one has had the conditions removed and most people get sent 'home' whilst owning a 500K investment somewhere in US. Politically it is seen as buying a green card. Which is what it is, but some people have a problem with this...... Face it America doesn't actually need any more millionaires....
        I should add that investing $1M in a new business that employs 10 people
        or $500K in a nasty area in a biz that expands for ten people to work
        in, will work (I am aware of successful cases).

        However, they will check out where your money came from and this is not
        as easy as it sounds, and it has to be 1M cash. you can't generate
        profits from the biz and re-invest.

        Basically this class of visa is fraught with difficulty (aren't they
        all) because of the political perception that you are buying a green
        card. You are looking at maybe 200 sucessful ones. There is a 5000 limit
        and it never ever gets anywhere near it.

        1M into a new biz is possible though, but I wouldn't touch any of the
        regional center schemes....

        The scheme was signed into law by Bush senior, and extended by Bush
        Junior. As only a few get passed each year they had an inquiry into why
        it wasn't working late last year.......err cos the immigration service
        (or whatever they are called this week) won't give the visas
        out........that's the reason they don't bloody work.

        Don't expect it to change or get easier anytime soon.

        Best way forward if you are still keen is come in on an E2 and
        then invest the mill in the biz etc and try to upgrade to an EB5
        in my opinion

        --
        Posted via http://britishexpats.com

        Comment


        • #5
          EB-5 Visa based on Regional Center Investment

          ben1970 wrote:
          I considered this, but there is no proof they actually work (I assumeyou have been offered the Seattle Property scheme).You will probably get the initial conditional green card, butfactually no-one has had the conditions removed and most people getsent 'home' whilst owning a 500K investment somewhere in US.Politically it is seen as buying a green card. Which is what it is,but some people have a problem with this......Face it America doesn't actually need any more millionaires.... I should add that investing $1M in a new business that employs 10 people or $500K in a nasty area in a biz that expands for ten people to work in, will work (I am aware of successful cases). However, they will check out where your money came from and this is not as easy as it sounds, and it has to be 1M cash. you can't generate profits from the biz and re-invest. Basically this class of visa is fraught with difficulty (aren't they all) because of the political perception that you are buying a green card. You are looking at maybe 200 sucessful ones. There is a 5000 limit and it never ever gets anywhere near it. 1M into a new biz is possible though, but I wouldn't touch any of the regional center schemes.... The scheme was signed into law by Bush senior, and extended by Bush Junior. As only a few get passed each year they had an inquiry into why it wasn't working late last year.......err cos the immigration service (or whatever they are called this week) won't give the visas out........that's the reason they don't bloody work. Don't expect it to change or get easier anytime soon. Best way forward if you are still keen is come in on an E2 and then invest the mill in the biz etc and try to upgrade to an EB5 in my opinion
          Three comments:

          One reason many early ECs failed to pass the condition was because INS
          changed the rules in the middle. The agency had issued early
          administrative guidance suggesting that certain investment formats were
          ok, then changed its mind. Immigration lawyers howled in protest, but
          in a case called Matter of Izumii, the Board of Immigration Appeals said
          that because the guidance was not a formal regulation, applicants could
          not rely on it.

          In terms of the lousy area, you don't have to live in the same place
          where your money is invested.

          The money really does have to be yours, and it has to be "at risk",
          meaning you have to be at risk of losing it all. USCIS will ask for
          documentation about where the money came from, but the purpose there is
          to be sure that it isn't a disguised money laundering operation (at the
          time of its enactment, certain features were written in disqualifying
          money obtained from drug and criminal activities). The money does not
          have to be cash. If you borrow $500,000 from a bank and invest it all,
          that counts, so long as the investment isn't secured by the business.

          This is the kind of case that needs a lawyer; don't try it on your own.

          --
          Above intended as general commentary, not specific legal
          advice. Your mileage may vary.

          ================================================== =============
          Jonathan McNeil Wong Voice: 510-451-0544
          Donahue, Gallagher Woods LLP Facsimile: 510-832-1486
          P.O. Box 12979 http://www.donahue.com
          Oakland, CA 94604-2979 E-mail: [email protected]
          ================================================== =============

          Comment


          • #6
            EB-5 Visa based on Regional Center Investment

            I should add that investing $1M in a new business that employs 10 people or $500K in a nasty area in a biz that expands for ten people to work in, will work (I am aware of successful cases). However, they will check out where your money came from and this is not as easy as it sounds, and it has to be 1M cash. you can't generate profits from the biz and re-invest. Basically this class of visa is fraught with difficulty (aren't they all) because of the political perception that you are buying a green card. You are looking at maybe 200 sucessful ones. There is a 5000 limit and it never ever gets anywhere near it. 1M into a new biz is possible though, but I wouldn't touch any of the regional center schemes.... The scheme was signed into law by Bush senior, and extended by Bush Junior. As only a few get passed each year they had an inquiry into why it wasn't working late last year.......err cos the immigration service (or whatever they are called this week) won't give the visas out........that's the reason they don't bloody work. Don't expect it to change or get easier anytime soon. Best way forward if you are still keen is come in on an E2 and then invest the mill in the biz etc and try to upgrade to an EB5 in my opinion
            Thanks for the info.

            Yes it was the Seattle Scheme, did you look int this in any detail? It
            sounds as though you are none too impressed with the regional
            center/property investment route.

            Also, do your comments on people being sent home relate to the current
            situation (i.e. post 2003) or the problems resulting from the INS
            interpretation of the rules which were overuled on appeal in the
            "Chang" case?

            Thanks again for your feedback

            --
            Posted via http://britishexpats.com

            Comment


            • #7
              EB-5 Visa based on Regional Center Investment

              Thanks for the info. Yes it was the Seattle Scheme, did you look int this in any detail? It sounds as though you are none too impressed with the regional center/property investment route. Also, do your comments on people being sent home relate to the current situation (i.e. post 2003) or the problems resulting from the INS interpretation of the rules which were overuled on appeal in the "Chang" case? Thanks again for your feedback
              Well I think there are red flags on the seattle scheme. i.e. they don't
              want to be legally connected through their lawyer (who has reputedly
              been an immigration lawyer fior 20 years!) by actually putting in the
              immigration application.

              So here you have a scheme set up by an immigration lawyer, but he
              doesn't want to put in your application for you because of a conflict of
              interest........well that smells funny to me. Seems like someone is
              covering their arse cos they know the application has a small chance of
              suceeding. I don't think they are crooks, more they are taking 500K of
              your money and you would want a reasonable guarantee of success - which
              they know they can't give. In fact they know there is probably a high
              chance of failure. As investment schemes go it isn't so bad, but I would
              put my money elsewhere to make more.....

              Also when I finally managed to get a straight answer from the company
              about how many people had actually got their conditions removed it
              was.....wait for it........yes that's right........0

              I have yet to see a scheme that actually works. I would dearly love to
              invest in one.

              Again I repeat that I don't think these people are crooks, or even
              misselling - just read the small print and ASK THE RIGHT QUESTIONS

              As schemes go this is better than most - you won't lose your
              money at least.

              Sorry I know this isn't what you want to hear - it was the same for me.
              You can message me direct if you want.

              --
              Posted via http://britishexpats.com

              Comment


              • #8
                EB-5 Visa based on Regional Center Investment

                Before pursuing this strategy, TALK TO A LAWYER. While fundamentally a
                good idea, there are some concerns related to the fact an E status
                precludes immigration intent. You may find it difficult to renew the E
                status, while still waiting for the GC. Another problem an potentially
                be that the business needs to be *new* to qualify for EB-5.

                ben1970 wrote:
                Best way forward if you are still keen is come in on an E2 and then invest the mill in the biz etc and try to upgrade to an EB5 in my opinion

                Comment


                • #9
                  EB-5 Visa based on Regional Center Investment

                  Does anybody have any experience of the EB-5 visa program which grants a conditional green card if $500,000 is invested in a designated regional center Thanks
                  Hi I am currently looking at an EB-5 have an E2 at present which expires
                  in a year have found a almond grove in California and the seattle scheme
                  any others you are aware of?

                  --
                  Posted via http://britishexpats.com

                  Comment


                  • #10
                    EB-5 Visa based on Regional Center Investment

                    Hi I am currently looking at an EB-5 have an E2 at present which expires in a year have found a almond grove in California and the seattle scheme any others you are aware of?
                    No, I am having trouble identifying any others. I have, however, found
                    a list of Designated Regional Centers which may be a good starting point
                    (http://www.twmlaw.com/resources/immigrant/eb5.html) it is right at the
                    bottom of the page.

                    Sorry I can't be of more help. Let me know how you get on.

                    --
                    Posted via http://britishexpats.com

                    Comment


                    • #11
                      EB-5 Visa based on Regional Center Investment

                      No, I am having trouble identifying any others. I have, however, found a list of Designated Regional Centers which may be a good starting point (http://www.twmlaw.com/resources/immigrant/eb5.html) it is right at the bottom of the page. Sorry I can't be of more help. Let me know how you get on.
                      My name is Henry Liebman, I am the President of the company that runs
                      the Seattle scheme. There is a regional center in Philadelphia called
                      PDIC, theres another in Moses Lake, Washington called ASPI Group Int'l,
                      there two devoted to dairy farmers in South Dakato and Iowa. I think
                      thats about it.

                      --
                      Posted via http://britishexpats.com

                      Comment


                      • #12
                        EB-5 Visa based on Regional Center Investment

                        I considered this, but there is no proof they actually work (I assume you have been offered the Seattle Property scheme). You will probably get the initial conditional green card, but factually no-one has had the conditions removed and most people get sent 'home' whilst owning a 500K investment somewhere in US. Politically it is seen as buying a green card. Which is what it is, but some people have a problem with this...... Face it America doesn't actually need any more millionaires....
                        I am intimately familiar with the Seattle scheme, as Im the President of
                        the company that manages the Seattle Regional Center. Its true America
                        doesnt need more millionaires and there are always political issues
                        around investment immigration. This is true for UK, Canada, Aussie, and
                        New Zealand to name a few. Whats not true is that nobody has had their
                        conditions removed and nobody was deported even during the worst of
                        times between 1998 and 2003. Prior to 1998 there were about 600 Eb5s
                        approved about two thirds of them had their conditions removed. In 1998
                        the government froze the program because people were not investing the
                        required $500K. We started in 1997 which means most of our investors got
                        caught in the freeze. We sued and finally in 2004 received a favorable
                        response from the courts. Just last week the court ordered BCIS to
                        adjudicate our pre 1998 files within six months. All of the investors
                        invested $500k and have done so for about seven years. Im hopeful
                        justice will be done. Not enough time has gone by for 2004 approvals to
                        have condtions removed. Given the Court decisions adverse to BCIS Im
                        hopeful that they wont trash the program again. In our case all of our
                        investors made a profit and most of the pre 1998 investors are still
                        investing with us. All of the approximately $300,000 in legal fees over
                        6 years were paid out of operating profit, no investor contributions
                        were requested. Henry

                        --
                        Posted via http://britishexpats.com

                        Comment


                        • #13
                          EB-5 Visa based on Regional Center Investment

                          Well I think there are red flags on the seattle scheme. i.e. they don't want to be legally connected through their lawyer (who has reputedly been an immigration lawyer fior 20 years!) by actually putting in the immigration application. So here you have a scheme set up by an immigration lawyer, but he doesn't want to put in your application for you because of a conflict of interest........well that smells funny to me. Seems like someone is covering their arse cos they know the application has a small chance of suceeding. I don't think they are crooks, more they are taking 500K of your money and you would want a reasonable guarantee of success - which they know they can't give. In fact they know there is probably a high chance of failure. As investment schemes go it isn't so bad, but I would put my money elsewhere to make more..... Also when I finally managed to get a straight answer from the company about how many people had actually got their conditions removed it was.....wait for it........yes that's right........0 I have yet to see a scheme that actually works. I would dearly love to invest in one. Again I repeat that I don't think these people are crooks, or even misselling - just read the small print and ASK THE RIGHT QUESTIONS As schemes go this is better than most - you won't lose your money at least. Sorry I know this isn't what you want to hear - it was the same for me. You can message me direct if you want.
                          Im the President of the Seattle program. The reason we dont do the
                          immigration legal work, even though Im an attorney and could do so, is
                          to avoid a conflict of interest. In a sense we are coverning our arses
                          because the ethical rules of the bar association are designed to promote
                          the concept of independent counsel. We arent independent if we represent
                          the investor and sell the investor a financial product. For this reason
                          we give referrals to indendent attorneys so that the investor will have
                          objective legal advice and be able to make an informed decision.

                          Removal of conditions is zero because two years havent passed since we
                          received the first approvals in 2004. The pre 1998 saga is a different
                          story, we have information about that on our website.

                          All of our investors, including myself have made money, we dont offer a
                          get rich scheme, the investment vehicle is primarily designed for
                          retirement pension plans and therefore maximizes income and preservation
                          of capital. Henry

                          --
                          Posted via http://britishexpats.com

                          Comment


                          • #14
                            EB-5 Visa based on Regional Center Investment

                            JWesson wrote:
                            Hi I am currently looking at an EB-5 have an E2 at present whichexpires in a year have found a almond grove in California and theseattle schemeany others you are aware of? No, I am having trouble identifying any others. I have, however, found a list of Designated Regional Centers which may be a good starting point (http://www.twmlaw.com/resources/immigrant/eb5.html) it is right at the bottom of the page. Sorry I can't be of more help. Let me know how you get on.
                            The most current list I have:

                            World Trade Center/Greenville-Spartanburg Inc.
                            315 Old Boiling Springs Road
                            Greer, SC 29650

                            Beacon U.S. Studios Inc.
                            5610 Sanderling Way
                            Blaine, WA 98230

                            City of New Orleans
                            Mayor's Economic Development Department
                            1300 Perdido Street, Suite 8E10
                            New Orleans, LA 70112

                            North Country Alliance
                            One Lincoln Boulevard
                            Rouses Point, NY 12979

                            Aero-Space Port International Group
                            512 Strander Boulevard
                            Tukwila, WA 98188

                            North Texas Commission
                            P.O. Box 610246
                            DFW Airport, TX 75261

                            Legacy Project
                            1100 Spring Street, Suite 600
                            Atlanta, GA 30309

                            Abacus Advisors, Inc.
                            195 Boston Post Road
                            Weston, MA 02193

                            American Export Partners
                            10 State Street
                            Charleston, SC 29401

                            Danou Enterprises
                            World Trade Center Detroit/Windsor
                            1251 Fort Street Trenton, MI 48183

                            Pueblo Economic Development Corporation
                            P.O. Box 5807
                            Pueblo, CO 81002

                            GV Development
                            7525 W Highway 68
                            P.O. Box 10430
                            Golden Valley, AZ 86413-2430

                            Unibex Global Corporation
                            1201 Eleanor Avenue
                            Las Vegas, NV 89106

                            State of Hawaii, Department of Business,
                            Economic Development & Tourism
                            P.O. Box 2359
                            Honolulu, HI 96804

                            Atlanta International Center for Academic (sic) and Athletics
                            1131 Alpharetta Street
                            Roswell, GA 30075

                            The Gateway Freedom Fund (AKA: Golden Rainbow Freedom Fund)
                            18034 13th Street
                            Seattle, WA 98177

                            West Rand Gold Trust
                            P.O. Box 2222
                            Ridgecrest, CA 93556

                            Miami Chinese Community Center, Ltd.
                            331 NE 18th Street
                            Miami, Florida 33132

                            CKS Western Inc. World Trade Center
                            620 W. Graham Drive
                            Lake Elsinore, CA 92530

                            Empirical Entertainment
                            6255 Sunset Boulevard, Suite 2000
                            Hollywood, CA 90028

                            State of Vermont
                            Agency of Commerce and Community Development
                            109 State Street
                            Montpellier, Vermont 05609-0501

                            Trading Partners International of California LLC
                            2677 N. Main Street, Suite 930
                            Santa Ana, CA 92705

                            CMB Export LLC
                            Corona Professional Center
                            400 S. Ramona Avenue, Suite 212AA
                            Corona, CA 91719

                            Alameda Trade Center
                            c/o Lowe Enterprises Commercial Group
                            1818 East 7th Street, Suite 200
                            Los Angeles, CA 90021

                            Matrix International, LLC
                            P.O. Box 22891
                            Seattle, WA 98122

                            California Consortium for Agricultural Export
                            c/o Spencer Enterprises Inc.
                            4974 East Clinton, Suite 200
                            Fresno, CA 93727

                            --
                            Above intended as general commentary, not specific legal
                            advice. Your mileage may vary.

                            ================================================== =============
                            Jonathan McNeil Wong Voice: 510-451-0544
                            Donahue Gallagher Woods LLP Facsimile: 510-832-1486
                            P.O. Box 12979 URL: http://www.donahue.com
                            Oakland, CA 94604-2979 E-mail: [email protected]
                            ================================================== =============

                            Comment


                            • #15
                              EB-5 Visa based on Regional Center Investment

                              Does anybody have any experience of the EB-5 visa program which grants a conditional green card if $500,000 is invested in a designated regional center Thanks
                              My name is Richard Robinson from Robinson O'Connell in London. I
                              specialise in advising on the EB-5 visa and have been assisting people
                              with applications since Bush junior extended the program for 5 years
                              from Dec 03. All of our clients have invested in Regional Centers,
                              finding the 10 employee route too demanding. Many clients are looking to
                              retire to the US and prefer a relatively passive investment.

                              From the outset it was up to investors to select a regional center and
                              so far all have opted for the Seattle program. I have since visited and
                              was impressed with the company, its people and the properties and last
                              year I invested and am receiving a yield of over 5%. I also believe the
                              area will benefit from two new rail links into the heart of SODO, which
                              is where the properties are based. Seeing is believing and the
                              renovation of existing buildings plus new builds evidences the area is
                              attractive to edge of town retailers and other community businesses.

                              It's still early days but our first 10 applicants from the UK have had
                              their visa petitions approved (step 1 of 3) and I learned today that our
                              first applicant has been cleared by the national visa center (step 2) so
                              we expect to be arranging an interview at the US embassy during the next
                              few weeks. I've no reason to believe this will present a problem.

                              If you'd like an information pack on our EB-5 service, let me know.

                              --
                              Posted via http://britishexpats.com

                              Comment

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