EB-5 investments are either $1,000,000 or $500,000 depending upon whether an investor can demonstrate that a project is located in a rural area or an area which has experienced unemployment of at least 150% of the national average rate. These geographical areas are known as “Targeted Employment Areas” or TEAs. It is a popular misperception… Continue Reading
Developers and organizations in New Jersey interested in using the EB-5 program to obtain immigrant investor funds for their businesses have something to be happy about. New Jersey has confirmed that they have changed their method for calculating high unemployment rate Targeted Employment Areas (TEAs). At the request of interested stakeholders, the Office of Labor… Continue Reading
Everyone seems to be buzzing about EB-5 these days. To help our readers understand the Program better we have prepared a Frequently Asked Questions article to answer any questions that you may have.
A regional center in New Orleans is being sued in Federal Court by 27 EB-5 investors. The complaint which is attached here claims that defendants, William B. Hungerford Jr. and Timothy O. Milbrath, principals of Noble-RealEstate-GP, misused immigrant investors funds that were invested into their regional center. The suit alleges that the defendants diverted $13.5 million… Continue Reading
While I am fairly confident that the EB-5 Regional Center Pilot Program will be extended because of the broad support it has garnered on both sides of the aisle in Congress, many clients often ask me- “What happens if it is not?” Well if the program is not extended or if the provisions sunset before… Continue Reading
This Wednesday I will be speaking on a teleconference sponsored by the American Bar Association Section of Litigation, Immigration Litigation Committee addressing Hot Topics in EB-5, including: Securities Law Considerations Pitfalls in Marketing OFAC Licenses Job Creation Methodologies Bridge Financing and more! This teleconference is free of charge and open to anyone. Please email email@example.com to RSVP. You… Continue Reading
As we reported a few weeks back, USCIS has changed their policy with respect to the tenant occupancy method of calculating job creation. In recent weeks, they have issued a number of Requests for Evidence (RFE) associated with I-924 petitions for either initial regional center designation or project amendment that rely on “tenant occupancy” to… Continue Reading