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Thread: EB-5 Visa based on Regional Center Investment

  1. #1
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    Default 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

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    Posted via http://britishexpats.com

  2. #2
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    Default 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

  3. #3
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    Default 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

  4. #4
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    Default 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

  5. #5
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    Default 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: jonathan@donahue.com
    ================================================== =============

  6. #6
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    Default 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

  7. #7
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    Default 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

  8. #8

    Default 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

  9. #9
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    Default 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

  10. #10
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    Default 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

  11. #11
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    Default 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

  12. #12
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    Default 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

  13. #13
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    Default 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

  14. #14
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    Default 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: jonathan@donahue.com
    ================================================== =============

  15. #15
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    Default 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

  16. #16
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    Default 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've only walked around one regional center, in Seattle, and it was
    fine. I lunched in one restaurant and had dinner in another. Our car was
    still OK when we returned and the next day I walked from downtown
    through the heart of SODO where the immigrant investor buildings are
    located. It's a thriving commercial centre with car lots and offices
    including Starbucks head office, which houses 3,000 employees.

    --
    Posted via http://britishexpats.com

  17. #17

    Default

    Thanks for all your post on EB5. I am a new visitor and also trying to start a business in USA.

    Let me tell you my background and my intention to get a GC. I am currently residing in USA on H1B for more than 2 yrs. I like to start a software company who will involved in developing/supporting software companies.I have $500K in US bank. In that I have made $250 myself and got $250K from my relatives as gift.I am looking for rural areas to setup my company as my company dont need any big cities.

    The business plan I am going show as, I will hire 3 people after starting my company after 9 months 3 more people after 12 months 4 others. This time period may little changes but not greatly.

    Since I am doing software consultant work currently, i will also continue doing the consulting job for 3 or 4 days a week. Remaining days I will focus on my business.

    Please have comment/scrutinize my plans. I appreciate if any one tried of getting GC this way.

  18. #18
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    Default Muhammad Saleem

    Quote Originally Posted by Jonathan McNeil Wong View Post
    ben1970 wrote:

    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: jonathan@donahue.com
    ================================================== =============
    Hi Can you please answer following questions as I just started doing research , I am a Canadian Citizen and want to apply 3 cases together -

    1-When can I get my money back in case my case is completed or denyed ?
    2-What are the chances ?
    3-How good is the investment in Seattle Scheme-
    4-How do I find the "Targeted Areas in Washington-Texas state and California-

    Regards

    Saleem

  19. #19
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    Default

    Hi Henry

    Can you please send me info package on my email : move@telus.net

    Regards

    Saleem

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