Canada shuts down immigration program again!

February 12th, 2014

News reports claiming Canada is shut down and they are refunding 46,000 applicants fees and starting over with an investment based system!

http://online.wsj.com/article/BT-CO-20140211-716561.html

http://www.scmp.com/news/world/article/1426368/canada-scraps-millionaire-visa-scheme-dumps-46000-chinese-applications

USCIS to hold an EB-5 Stakeholders Meeting Feb 26, 2014

February 10th, 2014

Dear Stakeholder,

U.S. Citizenship and Immigration Services (USCIS) invites you to take part in a teleconference on Wednesday, February 26, 2014 from 1:30 p.m. – 3:00 p.m. (Eastern) to discuss the EB-5 Immigrant Investor Program.

During this engagement, USCIS will introduce the new chief of the USCIS Immigrant Investor Program Office, provide updates on the program, and discuss the EB-5 Adjudications Policy Memorandum issued on May 30, 2013. Participants will have an opportunity to ask questions and discuss a broad range of EB-5 issues.

To Register for this Session:
Please visit our registration page to register for this event. All registrations must be received by Friday, February 14, 2014. Be sure to provide your full name and, if applicable, the name of your organization by following the steps below:

Enter your email address and select “Submit”
Select “Subscriber Preferences”
Select the “Event Registration” tab
Complete the questions and select “Submit”

Once your registration is processed, you will receive a confirmation email with additional details.

To Submit Agenda Items:
We encourage you to submit non-case specific agenda items before the teleconference. You may do so on the event registration page or by emailing us at Public.Engagement@uscis.dhs.gov. Please submit all questions and agenda items by Friday, February 14, 2014.

If you have any questions regarding the registration process, or if you have not received a confirmation email within two business days after you register, please email us at Public.Engagement@uscis.dhs.gov.

Artisan Business Group to host EB-5 Seminar in Ft. Lauderdale

January 30th, 2014

Artisan Business Group announces to host “Accelerated EB-5 Capital Raising Process Seminar” in Fort Lauderdale Miami area on April 24, 2014. The one day event will have excellent speakers and practitioners to share their insightful thoughts and real experiences! If you are developing an EB-5 regional center or ready to raise capital for your own EB-5 project, come to the best EB-5 seminar and networking event in Florida, and you will learn useful and effective capital raising strategies instantly! Register at http://miamieb5.eventbrite.com

China market update: Invest in America Summit draws strong attention

January 23rd, 2014

The Invest in America 2014 (Shanghai) Summit and Exhibition has drawn a great deal of attention from Chinese investors and emigration agents in last three years. The 4th annual Invest in America Summit and Exhibition hosted by Wailian Overseas Consulting Group continues to take US exhibitor and sponsor applications, there are now over 30 exhibition booths reserved by EB-5 regional centers, project development companies and other professional services from all over the U.S. The two day trade show also features over 20 breakout sessions presented by leading EB-5 professionals and experts from the US. Many investors and emigration agents will be coming to learn and shop new investment and business opportunities. Do not miss out this great opportunity to showcase your services and projects! Please call Ms. Jenny Liang at (607) 379-9466 or Mr. Tyler McKay at (217) 899-6661, and you can also download a copy of Exhibitor Application at http://www.InvestInAmerica2014.org!

EB-5 Event – Las Vegas, NV | March 8th 2014!!!

January 18th, 2014

Order Discount Presale Tickets

SATURDAY, MARCH 8TH, 2014 – SAVE THE DATE!

EB5Investors.com and EB5 Investors Magazine are proud to announce that we are hosting the 2014 Las Vegas EB-5 Conference with Congressman Jared Polis, chair of the NewDem Coalition’s Immigration Task Force, along with Co-Hosts David Hirson and Joseph McCarthy, scheduled for Saturday, March 8, 2014.

Featuring Advanced Sessions & Beginner Seminars

Whether you’re new to EB-5 or have been involved with the program for years, the EB5Investors.com Conference will afford you the opportunity to gain new invaluable insight while connecting with some of the most experienced stakeholders in the EB-5 program. We will present educational panels for all individuals seeking to learn more about the EB-5 program, from its use to finance development projects, to the program’s current regulatory climate. To effectuate this, the conference will include panels led by leading EB-5 professionals, including immigration attorneys, securities attorneys, project owners, EB-5 Regional Center principals, economists, and more.

***Limited Sponsorship opportunities are available. Interested parties may call 1-800-574-5306 for immediate assistance.***

Date: Saturday, March 8th
Time: 8:30am – 5:00pm

Location: THE ENCORE RESORT LAS VEGAS
3131 Las Vegas Blvd. South | Las Vegas, NV 89109 | http://www.wynnlasvegas.com/

Hosted By:

Read what others are saying about our past events:

“I have attended many EB-5 conferences. The Southern California EB-5 Conference sponsored by EB5 Investors magazine was the best one-day event I have attended in years. The combination of regional centers, immigration, corporate and securities lawyers, economists, and developers was remarkable. Having Bob Goodlatte, Chair of the House Judiciary Committee speak, was icing on the cake.”

Bernard P. Wolfsdorf
Wolfsdorf Immigration Law Group, Past President AILA

“The Southern California EB-5 Conference is no doubt the premier EB-5 event of the year. The quality of the speakers and the productivity generated by the panel sessions is unmatched.”

Henry Liebman
CEO/Co-Founder American Life Seattle RC Gold Rainbow Freedom Fund

“I wanted to thank you for inviting me to the event. I thought it went great and I had a good time and have 3 new clients coming out of it.”

Kevin Wright
President Wright Johnson, LLC

EB-5 in the news!!

January 18th, 2014

Do the wealthy Chinese know something we don’t?

A new report shows that 64 percent of Chinese millionaires have either emigrated or plan to emigrate—taking their spending and fortunes with them. The United States is their favorite destination.

The report from Hurun, a wealth research firm that focuses on China, said that one-third of China’s super rich—or those worth $16 million or more—have already emigrated.

The data offer the latest snapshot of China’s worrying wealth flight, with massive numbers of rich Chinese taking their families and fortunes overseas. Previous studies show the main reasons rich Chinese are leaving is to pursue better educations for their kids, and to escape the pollution and overcrowding in urban China.

(Read more: 10 of the priciest views in America)

Mark Horn | Getty Images
But analysts say there is another reason the Chinese rich are fleeing: to protect their fortunes. With the Chinese government cracking down on corruption, many of the Chinese rich—who made their money through some connection or favors from government—want to stash their money in assets or countries that are hard for the Chinese government to reach.
According to WealthInsight, the Chinese wealthy now have about $658 billion stashed in offshore assets. Boston Consulting Group puts the number lower, at around $450 billion, but says offshore investments are expected to double in the next three years.

(Read more: Luxury yacht makers sail into China)

A study from Bain Consulting found that half of China’s ultrawealthy—those with $16 million or more in wealth—now have investments overseas.

The mass millionaire migration out of China is also hitting luxury companies hard. Hurun said China’s luxury sales last year fell 15 percent—the biggest drop in over a half a decade. Spending on gifts, which made up a sizable portion of luxury sales, fell 25 percent.

Play Video
United States of millionaires
CNBC’s Robert Frank reveals which states have the most millionaires in the U.S., Maryland takes the No. 1 spot, with 168 thousand millionaires.
Bentley Motors last week said that its sales in China slowed last year in part because of “the migration of high net worth individuals from China.”

(Read more: Super-luxury car sales fell in 2013. Blame China)

In other words, it isn’t that wealthy buyers in China are spending less—they’re just disappearing.

Most are looking for permanent residences, Hurun said. The United States was their top destination, which any real estate agent in San Francisco, Seattle or New York can confirm. Europe is their second favorite destination, followed by Canada, Australia, Singapore and Hong Kong.

Special Discount for the first 10 people interested in the Big Vegas Eb-5 show!!!

January 18th, 2014

Firstly, allow me to thank you all for confirming your participation in the 2014 Las Vegas EB-5 Conference with Congressman Jared Polis. With our panels coming together and marketing for the conference underway, we anticipate a highly successful event.

I want to provide all confirmed panelists with a few brief updates regarding the event:

1. We are giving our panelists a special exclusive discount code good for 10 uses, to share with your contacts. The discount code will knock $150 dollars off of the admission price of a ticket. So you are all aware, limited early bird discount tickets are currently on sale until February 1. Your speaker friend discount works on top of this. This is a killer deal. Attendees must redeem before Feb 1 if they want the early bird + speaker friend discount.
a. How to share this with contacts? Simply email this link out to your contacts https://eb5lasvegas.eventbrite.com/?discount=vega14speaker2 Discount will automatically be deducted for them.
i. To recap
1. Attorneys signing up with your link before Feb 1: $600 (reg. $850)
2. General attendees signing up with your link before Feb 1: $700 (reg. $950)
3. Attorneys signing up with your link after Feb 1: $700 (reg. $850)
4. General attendees signing up with your link after Feb 1: $800 (reg. $950)
2. We have negotiated a discount room block rate at the 5 Star Wynn and Encore resorts for March 7th and March 8th. The conference will be held at the Encore resort. For those dates, their rates are regularly at $499 and $399 plus resort fee. With our group discount, you can choose either Wynn or Encore at a rate of $269/night, with the resort fee waived! If interested in this rate, please let us know no later than Tuesday 1/21 and we will send you the booking code as first priority. They are almost at full capacity for that weekend.
3. For attorney attendees interested in CLE credit: the event is currently pending CLE Accreditation by the Nevada State Bar, and we anticipate to be accredited by the time of the event. Please verify that your state bar validates CLE events accredited by the Nevada State Bar if interested in CLE credit.

Impact of Quota Retrogression for China by Bernie Wolfsdorf

January 11th, 2014

Based on the demand for EB-5 visa numbers during 2013 and the volume of approved I-526
petitions at the National Visa Center, the Department of State has provided the AILA EB-5 and
DOS committees with tentative projections for movement in the EB-5 category during the rest of
the 2014 fiscal year. The forecast is somewhat murky given the low “visibility” at USCIS,
meaning that there is limited information available regarding how many visa numbers USCIS
will request, a challenge that is exacerbated by the substantial I-526 backlog and the fact that I-
526 petitioners and their dependents cannot concurrently file for adjustment of status. With that
in mind, the Department of State has advised the following:
 If demand continues at the current pace, a cut-off date may need to be established for
China, which accounts for more than 80% of total number usage. No other countries
in the EB-5 category will be impacted. (It should be noted that in December 2012,
the State Department predicted the establishment of a cut-off for China EB-5, but
this never occurred because of the slow pace of I-526 approvals.)
 If a cut-off date is established, it will not likely take effect until July 2014 at the
earliest and is more likely to occur in August or September 2014. It is possible that
numbers will again become current for some period of time at the onset of the new
fiscal year on October 1, 2014.
 Of the cases at NVC:
o 966 have priority dates in 2011;
o 2,969 have priority dates in 2012; and
o 813 have priority dates in 2013.
Therefore, depending on how quickly USCIS reduces the I-526 backlog, the EB-5
cut-off date may need to be retrogressed more than one year.
 All EB-5s are created equal; the cut-off would apply to China EB-5 across the board,
with no distinction between regional center and direct EB-5 petitions.
In anticipation of this potential quota retrogression, the AILA EB-5 Committee suggests the
following:
1) Carefully monitor investors with children who may “age out.”
The Child Status Protection Act (CSPA) freezes the age of children who are derivative
beneficiaries of an I-526 petition while the petition is pending. However, once the
petition is approved, the child’s age is no longer frozen if the conditional residence
cannot be completed because the quota is not current for that investor. A Chinese
investor with children nearing age 18 or older will want to freeze the child’s age for as
long as possible if China EB-5 priority dates retrogress. The longer the time the I-526 is
pending, the longer the time the child’s age is frozen. Thus, it will be beneficial for
certain Chinese nationals who have children close to “aging out” to have the I-526
petition adjudication process take longer. For this reason, it would be advantageous for a
Chinese national to receive a Request for Evidence and to delay responding to the RFE
until the latest possible date.
China EB-5 priority date retrogression will make it imperative for counsel to carefully
track the ages of a petitioner’s children, to encourage prompt I-526 filing, and to
strategize how to prolong the I-526 petitioning process if a child is close to “aging out.”
It will also be imperative for counsel to make certain that the immigrant visa is applied
for within one (1) year of the priority date becoming current, in order to benefit from the
period of time the child’s age is frozen during the petitioning process under the CSPA.
2). Develop alternative strategies for direct EB-5 investors.
In a direct EB-5 investment, the investor is often the manager of the investment. Quota
retrogression may delay for years the ability of Chinese nationals to immigrate after filing
the I-526 petition and therefore to start up the business. The Chinese national cannot
obtain an E-2 visa as there is no investment treaty with China. An investor who cannot
immigrate to the United States for many years because of quota retrogression may not be
able to demonstrate that he will be able to manage a direct EB-5 investment and may
need to either find someone else to manage the business or develop a nonimmigrant visa
strategy to come to the U.S. to start up the business.
Additionally, the investor must demonstrate that the commercial enterprise will employ
no fewer than 10 qualifying employees within 2½ years of I-526 petition approval. A
comprehensive business plan must be submitted with the visa petition demonstrating that
the qualifying employees will be employed within that time period. It will be difficult to
produce a credible business plan when an investor has no idea of when he will be able to
immigrate to the United States.
3). Advise clients regarding regional center project issues.
Many regional center projects involve loans from the new commercial enterprise to the
EB-5 project. These are often 5 year loans premised on all investors receiving
conditional permanent residence before the loans are paid back. Investor clients should
be advised that changes to loan agreements may be required and that such changes may
affect their exit strategies. On the other hand, regional center projects would have longer
periods of time in which to create the requisite jobs in the event that quota retrogression
delays the onset of the conditional residence period of the investors.

LA named a Promise Zone by President Obama

January 9th, 2014

This came in from Mayor Eric Garcetti today

Kevin —

I’ve just left the White House and wanted to let you know right away that President Obama has just named Los Angeles as one of his five Promise Zones!

Part of his signature Building Ladders of Opportunity initiative, the Promise Zone designation will mean tens of millions of dollars in federal aid for some of the neighborhoods in LA that need it most.

This program isn’t the usual kind of top-down, Washington-mandated federal initiative. We have the power to chart our own course.

Let us know what LA communities need– because we’ve won the Promise Zone we have the power to tell Washington what works for us.

So make sure to click here and share your ideas.

Congratulations, LA!

–Eric

New I526 form as of December 16, 2013

December 16th, 2013

Click here to download the new form….