Effective September 12, 2014, the Department of State has decreased the Immigrant Visa Application Processing fees to $345 based on an approved I-526 petition. Therefore, applicants who received a fee invoice prior to September 12, 2014, will be eligible to pay the listed fee on the fee bill invoice.
Last week, Greenberg Traurig EB-5 attorneys Kate Kalmykov and Laura Reiff attended the China-U.S. Economic and Investment 2014 Annual Gala Dialogue hosted by the China General Chamber of Commerce (CGCC). CGCC is one of the largest nonprofit organizations representing Chinese enterprises in the United States. The gala served as a platform to enhance economic and business cooperation for both Chinese and U.S. enterprises through the exploration of the new collaborative model of Chinese-U.S. relations. Guests included business executives and elected officials from both China and the United States. Continue Reading
Greenberg Traurig EB-5 attorneys Christian Triantaphyllis and Catharine Yen recently co-authored an article in the American Bar Association’s International Law News journal entitled “Immigrant Investor Visas: Emergent Trends Around the World.” This article outlines the immigrant investor programs in the United States, Canada, Singapore and Hong Kong. The piece discusses the U.S. EB-5 investor program in light of world trends and how and why each government has changed their respective program in their own markets. Read the full article here.
The October 2014 Visa Bulletin reflects that EB-5 visas are now available for Chinese EB-5 investors. In August, the U.S. Department of State (DOS) announced that the EB-5 visa category for Chinese nationals would be unavailable for the remainder of fiscal year 2014. Fiscal year 2015 began October 1, 2014, and so the EB-5 visa category for Chinese nationals is now current and, therefore, immediately available again. Accordingly, Chinese nationals with an approved I-526 petition may immediately apply for their EB-5 immigrant visas at the U.S. Consulate in Guangzhou, China.
According to visa usage trends, it is speculated that EB-5 visas for Chinese nationals will retrogress at some point during the fiscal year 2015. If EB-5 visa retrogression does occur, Chinese EB-5 investors may continue to file I-526 petitions, but will not be able to apply for an EB-5 visa to become a conditional lawful permanent resident in the United States until their priority date listed on their I-526 petition is current in the Visa Bulletin.
Greenberg Traurig’s EB-5 team has partnered with a migration agent to host a EB-5 seminar series in key Latin American markets. The seminar series is structured to provide ample opportunity for regional centers to network, meet and promote projects to investors through migration agents. Greenberg Traurig EB-5 attorneys will present on the legal process involved in the I-526 process as well as international tax considerations. The seminar dates and locations are:
Mexico City, Mexico
Greenberg Traurig Mexico City Office
Monday, November 10th | 8:00 a.m. – 8:00 p.m.
Meetings will be in a pre-arranged, round robin fashion.
São Paulo, Brazil
Intercontinental Hotel São Paulo
Thursday, November 13th – Friday, November 14th | 8:00 a.m. – 8:00 p.m.
The São Paulo event includes an opportunity for presentations to investors.
Greenberg Traurig Miami Office
Tuesday, December 9th | 8:00 a.m. – 8:00 p.m.
Meetings will be in a pre-arranged, round robin fashion.
For more information regarding registration and pricing, please contact August Trammell at email@example.com.
Greenberg Traurig EB-5 attorneys Kate Kalmykov and Laura Reiff were recently featured in the first edition of Immigration Times magazine*. The magazine is published in China and features industry expert articles, immigration Q & A, regional center success stories and more. The magazine exists to provide key updates on EB-5 regulations and policies, educate investors abroad about the EB-5 Program and provide a one-stop resource for investors to learn the new projects currently on the market.
*Note: This publication is in Chinese.
On September 9, 2014 the U.S. State Department (the State Department) issued the October 2014 Visa Bulletin which reflected the EB-5 visa category as “current” for mainland-born Chinese EB-5 investors. However, there is speculation and anticipation that the EB-5 visa for mainland-born Chinese EB-5 investors will become unavailable during the U.S. government’s 2014-2015 fiscal year (the U.S. government’s fiscal year runs from October 1 to September 30). If this occurs, there will be impacts felt throughout the EB-5 industry.
Doing Business in China: Strategies to Mitigate Corruption Risk
China continues to be a critical market for many U.S. companies, but conducting business in China or with Chinese companies while avoiding liability for corruption is increasingly difficult. Join Greenberg Traurig and Marsh Risk & Insurance Services for complimentary interactive seminars that will help you mitigate corruption risk when doing business in China. Discussion topics will include:
- Red flags U.S. companies should note when doing business in China or with Chinese companies
- How training, internal investigation and self-reporting can help you avoid, reduce or limit the risk of liability for corruption
- Effective anti-corruption best practices to monitor agents, distributors, consultants and vendors
- Insurance coverage
In order to demonstrate continued eligibility for the Regional Center designation, the Regional Center must file Form I-924A (Supplement to Form I-924A) and supporting documentation between September 30th and December 29th of the fiscal year. Thus, all Regional Centers who were designated on or before September 30, 2014, will need to submit their Form I-924As between October 1, 2014, and December 29, 2014. Without properly and timely filing the Form I-924A, USCIS may issue a Notice of Intent to Terminate (NOIIT) the Regional Center’s designation.
Greenberg Traurig EB-5 shareholder Kate Kalmykov and associate Jennifer Hermansky recently attended the Cityscape Global exposition in United Arab Emirates. Cityscape Global is the largest real estate conference in The Middle East and draws more than 280 exhibitors from 27 countries with thousands in attendance from the real estate industry. During the event, Greenberg Traurig attorneys met with investors from the countries throughout The Middle East, including The United Arab Emirates, Saudi Arabia, Qatar, Syria, Pakistan, India and more with interest in the EB-5 program as an immigration option to the United States through investment.