During this episode, Mr. Beshara shares his thoughts on how the EB-5 Visa Program compares to alternative visa programs, from its cost efficiency and overall benefits – to the process of immigrating to the United States. Mr. Beshara also provides his thoughts on past and current EB-5 trends, his outlook on the future of EB-5, and how he has helped investors choose the right Visa program for them.
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If you have any questions or need clarifications, please contact our law firm.
]]>EB-5 Regional Center Program Reauthorized for Five Years!
U.S. Congress has voted to approve the legislation, The EB-5 Reform and Integrity Act of 2022, and now waiting for President Biden’s signature before March 14, 2022. (Full Bill)
For EB-5 investors and EB-5 Regional Center Projects, as well as Direct Projects, please note the following important aspects:
EB-5 Regional Center Program was reauthorized for five years through September 30, 2027.
Most importantly, the Regional Center Program Reauthorization will become Effective 60 days after enactment (possibly March 14, 2022).
Concurrent filing of I-526 and I-485 Application for Residency – Wonderful News
Open now to interpretation is the ability of the EB-5 investor filing a new I-526 petition and concurrently, at the same time, if they are maintaining legal nonimmigrant status in the US, to be able to file their own I-485 Application for Adjustment of Status to Conditional Permanent Residency (CPR), as well as allowing their spouse and minor children under 21 to also file their Applications for Conditional Permanent Residency, Employment Authorization, and Permission to Travel in and out of the US until a decision is made by USCIS on the I-526 petition and their Applications for Conditional Permanent Residency.
As of the date of this notice or announcement, we are not sure as to whether this proposed new concurrent process will apply to the existing investors who have already filed their I-526 petitions.
As soon as we receive clarification, we will provide notice and advise accordingly.
Grandfathering of existing I-526 Petitions and Applications for CPR
There is a relief for past investors who had filed their I-526 Petitions and Applications for Conditional Permanent Residency, before the lapse of the EB-5 Regional Center Program on June 30, 2021. Their Petitions and Applications will now be able to be processed, hopefully without delay.
The new EB-5 Regional Center Program includes languages to protect new EB-5 investors by grandfathering those Petitions filed before September 30, 2026.
New Investment Amounts
TEA and Rural and Infrastructure projects will be USD $800,000.00
The NON-TEA investment will be USD $1,050,000.00
TEA designations are active for two years and can be renewed for two-year periods.
Employment Creation
EB-5 Regional Center Projects can now count indirect and direct positions for the required job creation.
Exemplar Approval
For the EB-5 Regional Center Projects, the requirement is that they must file an I-924 Project Exemplar before the first I-526 petition is filed.
Interpretation: To date, the I-924 exemplar does not need to be approved before the I-526 Petition is filed.
Protection for Investors
Integrity provisions to protect EB-5 investors will now include mandatory site visits, audits, fund administration, and stricter regulations as to who may participate in the ownership and/or management of a Regional Center.
Advantages for EB-5 Regional Center Projects and Investors
The new legislation clarifies redeployment requirements and provides flexibility as to the location of the redeployment investments.
Lawful Source of Funds – NEW
For the EB-5 investors, the new legislation now requires the authentication of the lawful source of funds not only to cover the actual capital investment but also administrative fees, other fees, USCIS government filing fees, associated with the investment.
Moving Forward
NOW is the time for EB-5 investors to confirm their intent to move forward, invest, and obtain US Permanent Residency.
NOW is the time for potential EB-5 projects to confirm that they intend to move forward and have their projects become EB-5 Regional Center Projects or EB-5 Direct Projects.
Existing and potential investors and existing Direct and EB-5 Regional Center Projects should contact our law office immediately for consultation, direction, and clarification.
The Future: POSITIVE
The EB-5 reauthorization for Regional Centers and new requirements for the EB-5 Program as a whole provides predictability and viability for the investors and EB-5 projects as a whole and is welcomed by the EB-5 industry.
Description: Do you have questions about the EB-5 visa program?
Join Houston EB5 and Beshara Global Migration Law Firm as we cover everything EB-5, including the most recent industry changes.
During this webinar, immigration attorney Edward Beshara will discuss in detail the EB-5 visa program, timeline, and updates. Additionally, Jordan Lawrence will present Houston EB5’s direct EB-5 investment opportunity, Moderno Porcelain Works, a nationally recognized surfacing company. Don’t delay! Register now for this free opportunity.
Date and Time: Mar 14, 2022, 11:30 AM in Central Time, 12:30 PM Eastern Time (the US and Canada)
For Registration: Click Here
]]>PARTIAL FUNDING OF EB-5 PROJECT INVESTMENTS”
- What is the process to apply for an E-2 visa?
- How does E-2 compare to EB-5?
- The EB-5 waiting period is too long; can I start with an E-2 visa and convert to EB-5?
- I do not have all $900,000 today; can I invest part of the $900,000 requirement to start my EB-5 process and file my I-526 Petition?
A NEW DAWN
A New and Favorable Financial Approach for HNWI Desiring to Obtain U.S. Permanent Residency
Moderated by EDWARD BESHARA
- Edward C. Beshara, IMCM Advisory Committee, (Discussion Leader) Attorney at Law, BesharaPA Global Migration Law Firm, USA Approvable Immigration Solutions since 1983, Active Committee Member IIUSA (Invest in the USA) organization.
- Laura Austin, IMCM Advisory Committee, Head of Investment Migration Due Diligence, BDO. USA LLP. International Accountants.
- Jon Matzner, CEO, EIC Technology, Immigration Business Solutions through Acquiring US Businesses. Former US State Department and US Consular Officer with the US Foreign Service.
- Craig Rasile, Partner Restructuring, and Forensic, McDermott Will & Emery LLP, Attorney at Law, Committee Member American Bankruptcy Institute.
- Public health or healthcare professional or researcher to alleviate the effects of COVID-19 pandemic.
- Satisfying contractual obligations such as supporting U.S. military base construction.
- Resuming ongoing employment in the U.S. in the same position.
- Senior Executive in a critical business such as chemical, dams, defense.
- L-1A applicants seeking to establish a new office in the United States likely do NOT fall into this category, unless two of the three criteria are met AND the new office will employ, directly or indirectly, five or more U.S. workers.
- Public health or healthcare professional or researcher to alleviate the effects of COVID-19 pandemic or involved in research with a substantial health benefit such as cancer.
- Individuals engaged in projects essential to a U.S. government agency or facilitating the immediate and continued economic recovery of the U.S.
- Meeting critical foreign policy objectives or to satisfy contractual obligations such as supporting U.S. military base construction.
- Facilitating the immediate and continued recovery of the U.S. economy such as forestry, nonfarm animal caretakers.
- Au pairs caring for a minor with special needs or whose parents caring for COVID-19 patients or conducting research.
- Workers in an exchange program that is in the U.S. national interest or supporting the recovery of the U.S.
- Specialized teacher working full-time in an accredited educational institution.
- National interest exceptions are available to join a principal applicant who is a spouse or parent.
For more details about the exemptions and the criteria that need to be met please contact our office.
- United States businesses and their workers have faced extensive disruptions because of the Corona-virus (Covid-19).
- The overall unemployment rate in the United States nearly quadrupled, extreme unemployment, millions of Americans remain out of work.
- The considerations present in Proclamation 10014 remain.
- Pursuant to Proclamation 10014, the Secretary of Labor and the Secretary of Homeland Security reviewed non-immigrant programs and found that the present admission of workers within several non-immigrant visa categories also poses a risk of displacing and disadvantaging United States workers during the current recovery.
- Temporary workers are often accompanied by their spouses and children, many of whom also compete against American workers. During the COVID-19 outbreak, certain non-immigrant visa programs authorizing such employment pose an unusual threat to the employment of American workers. The entry of additional workers through the H-1B, H-2B, J, and L non-immigrant visa programs, therefore, presents a significant threat.
- As the U.S. needs additional months to restore stable labor demand. I have determined that the entry, through December 31, 2020, of certain aliens as immigrants and non-immigrants would be detrimental to the interests of the United States.
- Continuation of Proclamation 10014 to December 31, 2020, and thereafter with modifications as may be necessary.
- Suspension and Limitation on Entry. Any alien seeking entry pursuant to any of the following non-immigrant and immigrant visas is hereby suspended and limited, subject to section 3 of this proclamation:
- An H-1B or H-2B visa
- A J visa
- An L visa, and any alien accompanying or following to join such alien
- Suspension of the following immigrant visas: EB-2 (new), EB-3 (new), and all immigrant visas except EB-5 and spouses and children of U.S. citizens.
- Pursuant to section 2 shall apply only to any alien who:
- Is outside the United States on the effective date of this proclamation.
- Does not have a non-immigrant or immigrant visa that is valid on the effective date of this proclamation; and
- Does not have an official travel document
- The suspension and limitation on entry pursuant to section 2 of this proclamation shall not apply to:
- Any lawful permanent resident of the United States.
- Any alien who is the spouse or child, of a United States citizen.
- Any alien seeking to enter the United States to provide temporary labor or services essential to the United States food supply chain; and
- Any alien whose entry would be in the national interest
- The Secretary of State, the Secretary of Labor, and the Secretary of Homeland Security shall establish standards to define categories of aliens covered by section 3(b)(iv) of this proclamation, that are critical to the defense, or national security of the United States; e.g. medical care to individuals who have contracted COVID-19, provision of medical research at United States facilities to help the United States combat COVID-19.
- This proclamation shall expire on December 31, 2020, and maybe continued, as necessary. shall, in consultation with the Secretary of State and the Secretary of Labor, recommend any modifications as may be necessary.
- Effective Date: June 24, 2020.
- The Executive Order will be for 60 days and may be extended.
- It covers Foreign Nationals who are applying for immigration to the US through US Embassy/ US Consulate processing, that is, it applies to all those Foreign National Applicants who will attend their immigrant visa interviews outside the US.
- Spouses and children under 21 of US Citizens immigrating to the US through US Embassy/ US Consulate process.
- All non-immigrant applicants applying through US Embassy/ US Consulate processing for temporary visas such as E-2, H1B, H-2B, E-3, L-1, O, P, F-1, B-1 and B-2 visitors visas etc.
- All EB-5 investors applying for Conditional Permanent Residency through the US Embassy/ US Consulate.
- All Foreign Nationals in the US applying for Permanent Residency through Adjustment of Status applications with USCIS.
- Does not apply to Foreign Nationals who already have an immigrant visa in their passport and are outside the US.
- US Embassies and US Consulates are closed currently and are not processing applications for visa entry to the US except for certain special cases.
- The US Embassies/ US Consulates may open possibly in the middle of June 2020. However some may open sooner and some may be closed for a longer period of time.
- The Executive Order suspending immigration may or may not be extended.
- The Executive Order may be revised. The Executive Order may increase the scope of what visas are covered or change the exceptions.
- Foreign Nationals that have obtained an immigrant visa but cannot return to the US may submit an application to return under special and extraordinary circumstances.
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