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Category Archives: EB-5 Investment

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Posted in Department of State, EB-5, EB-5 Investment, Immigrant Visa, Visa

许多中国大陆出生的EB-5投资者最近注意到,他们不再能够访问国家签证中心(NVC)的在线平台。 此在线平台的功能包括移民签证费账单的支付,移民签证(DS-260)的申请,以及其他功能。 国家签证中心已确认将使用每月签证公告的申请递件排期表(“表B”)来启动案件处理。10月份的签证排期公告显示,对于中国大陆出生的EB-5投资者,表B当前优先日的截止日期是2014年6月14日或更早。因此,国家签证中心表示不会处理优先日晚于10月签证排期公告中表B截止日期的案件。 这种在处理中国大陆出生的EB-5投资者的移民签证申请上的改变导致许多人无法继续进行在处理方式变更之前开始的DS-260申请,以及无法支付移民签证费用帐单,完成DS-260申请,或从国家签证中心收到确认DS-260申请的所有相关文件已被接收的通知。根据国家签证中心的指示,在今年10月,只有那些优先日期为2014年6月14日或更早的中国大陆出生申请人能够在被国家签证中心通知后继续移民签证处理程序。另外,每个月国家签证中心将通知那些优先日在签证排期表表B截止日期之前的申请人。重要的是,对于以前已经提交给国家签证中心但优先日在排期表表B截止日期之后而不能进行处理的案件,国家签证中心表示将给申请人发出确认收到申请和材料的通知。 此外,国务院证实,正在努力使其在线平台现代化,并指出目标是在2017年春天,建立一个全新的门户网站. 此网站包括所有目前可用的独立的在线功能,如签证费用账单支付,DS-260提交,案件状态查询,以及许多其他功能。

Posted in Department of State, EB-5, EB-5 Investment, Immigrant Visa, Visa

Many of the mainland China born EB-5 investors recently noticed that they no longer had access to the National Visa Center (NVC) online platform for the purposes of immigrant visa fee bill payment, access to immigrant visa (DS-260) applications, as well as other functions.  NVC has confirmed that it is using the Dates for Filing… Continue Reading

Posted in China, EB-5 Investment, Immigrant Visa

美国国务部已经使用完到2016年财年底,即2016年9月30日之前,所有给出生在中国内地的EB-5投资人的签证名额。因此,国家签证中心现已暂停受理出生于中国内地的已获批I-526申请的受益人的移民签证申请。预计会在2016年10月1日恢复受理。在此期间,申请人将不能支付移民签证费用和完成或访问移民签证DS-260申请。 美国移民和国籍法案的第203条限制了可用于每个类别移民签证的名额,其中大约10,000个名额拨给EB-5投资移民类别。这个总数是进一步受制于每个国家的限制,其中给出生于中国内地的EB-5投资者的签证名额已经受到积压。到2016年9月13日为止,国家签证中心已经告知在当前法律的限制下,在本财年,分配给在中国内地出生的EB-5投资人的名额已经告罄。本财年将会在2016年9月30日结束。 美国国务院宣布如果他们确定其他国家将不会使用2016财年余下的签证名额,他们仍可能会提供这些额外的签证名额给中国内地出生的申请人。在此期间,国家签证中心已经向那些受暂停影响的申请人通过邮递和电子邮件发送通知和解释这个情况。国务院已要求受到暂停影响的申请人只在需要改变联系方式或签证资格的情况下才联系国家签证中心。 欲了解更多信息,请订阅这个博客,GT律所将继续提供更新。

Posted in China, EB-5 Investment, Immigrant Visa

The U.S. Department of State has now used the number of immigrant visas available for the Mainland-China-born EB-5 investors for the remainder of Fiscal Year 2016, which is set to conclude Sept. 30, 2016.  Therefore, the National Visa Center (NVC) has temporarily suspended processing of immigrant visa applications for the Mainland China-born beneficiaries of approved… Continue Reading

Posted in EB-5 Investment, EB-5 Project, I-526, I-924, Regional Center, USCIS

One of the purposes of Form I-924 is to file an exemplar for a specific EB-5 investment project. In so doing, a Regional Center seeks a preliminary determination of EB-5 compliance for a project prior to the commencement of I-526 filings by individual investors so as to have greater assurance that investors will not encounter… Continue Reading

Posted in Department of Homeland Security, EB-5 Investment, Immigrant Investor, USCIS, Visa

On Aug. 26, 2016, U.S. Citizenship and Immigration Services (USCIS) announced a notice of proposed rulemaking for an International Entrepreneur Rule, and provided an advance version of the proposed rule for public review. According to an announcement from USCIS, the proposed rule will allow the Department of Homeland Security (DHS) to exercise discretion, on a… Continue Reading

Posted in Department of Homeland Security, EB-5 Investment, EB-5 Program, Immigration, USCIS

Due to the complex intersection of real estate, corporate, securities and immigration law (among others), an investment in a company under the EB-5 Program can be a complicated affair. One of the reasons an EB-5 investment is complicated has to do with U.S. governmental regulatory bodies with potential oversight over an EB-5 investment. The following… Continue Reading

Posted in EB-5 Business Plan, EB-5 Investment

The EB-5 Program is a complicated decision that requires much thought, diligence, and preparation. In light of this, it is important for an investor to know their rights. With recent headlines highlighting the problems with some EB-5 projects, it is important for a potential investor to know that the EB-5 program does work and is a… Continue Reading

Posted in EB-5 Investment, EB-5 Program, Immigration

In the United States, there are very strict laws in place to protect investors.  These laws are administered by a governmental agency known as the U.S. Securities and Exchange Commission (SEC).  The mission of this agency is to regulate the U.S. markets, protect investors from fraud, ensure fair, systematic, and efficient markets, and facilitate capital… Continue Reading

Posted in EB-5 Investment, EB-5 Program, Eb-5 Regional Center, Immigrant Investor

Yesterday, the leading EB-5 Trade Associations/Coalitions sent a letter to the Senate and House Judiciary Committee Leaders and Members expressing support for extending the EB-5 Regional Center Program and recommending concrete changes.  This is a decisive moment for the EB-5 Industry as the key members of the community are all speaking with one voice This… Continue Reading

Posted in EB-5 Investment, Immigrant Visa, Immigration, Visa

Under the U.S. immigration laws, there are four common visa options for foreign investors and entrepreneurs. These include: Temporary Work Visas L-1A Intracompany Transferee E-2 Treaty Investor  Immigrant Visas (“Green Cards”) EB-1C Multinational Manager or Executive EB-5 Investor/Entrepreneur The EB-1C and EB-5 visas offer long-term solutions for those Investors and their families who wish to… Continue Reading

Posted in EB-5 Investment, Firm News, Uncategorized

EB5Investors Magazine has profiled five attorneys from Greenberg Traurig, LLP in its list of the “Top 25 Immigration Attorneys in the EB-5 Industry.” Kate Kalmykov, Laura Reiff, Bruce Rosetto, Jennifer Hermansky, and Dillon Colucci were selected through a combination of community member votes, input from the editorial board, and analysis from the EB5 Magazine in-house… Continue Reading

Posted in EB-5 Investment, Securities Law

Nearly all U.S. broker-dealers are members of the Financial Industry Regulatory Authority (FINRA).  FINRA regulates, and provides oversight and guidance for its member firms.  When a broker-dealer becomes a FINRA member, they enter into a membership agreement which, among other things, specifies which financial products and services the broker-dealer is permitted to offer to its… Continue Reading

Posted in China, EB-5 Investment, Private Equity

私募基金已经成为了覆盖房地产、科技、能源和医疗等多个产业的投资方式。私募集金投资成功促进了全体经济增长,也挽救了许多上市公司通过传统金融体系融资中遇到的困境。一些原本在美国的私募集金为了吸引外国资本已经转移到例如开曼群岛和英属维珍群岛等离岸中心,或建立了平行离岸或从属基金来吸引外国资本。许多外籍投资人通常不喜欢在美国参与直接投资,因为他们在美国的投资所得需要按照联邦个人所得税(并有潜在的美国遗产和赠与税)进行纳税。直接投资(或实质意义上的直接投资)需要遵循美国税法规定交纳个人所得税。美国联邦税收的双重收费机制对外籍投资人参与美国经济造成了很大障碍。  在这种情况下,私募基金经常成立非美国的隔离公司,面向外籍投资人。非美国的隔离公司允许投资人直接投入离岸基金,然后由离岸基金再转投入进美国资产。这个结构的优点是离岸基金可以直接调回资本并投入美国资产,而外籍投资人不用担心联邦税收问题。这个结构也允许外籍投资人避免了一些由于投资所产生的美国联邦纳税义务。任何美国联邦税收或申报义务程度上,非美国的隔离公司、而不是外籍投资人,需要履行交税申报责任。  需要注意的一点是,美国公民和永久居民(一般为绿卡持有者)通常偏向于直接投入美国资产或通过财政透明的交易机构进行投资,以确保联邦个人税收水平保持在一级。保证在仅一级是因为该投资人在世界其它地方的收入都要按照联邦所得税规定交税。  最近,中国投资人开始了解通过私募基金形式参与美国投资的优势。随着中国经济不断增长,个人财富增加,境外投资开始变得引人注目。近年来,中国开放了自由贸易区,例如在上海,中国公司和个人可以更自由地参与境外投资。但首要的问题是,过去几年中国经济增长放缓,中国政府在国内保存资金储备的情况下,还是否允许增加境外投资。加之中国目前的外汇管制,人民币的贬值,是否可能会令中国政府收紧境外投资。当然,根据相同原理,用人民币换成美元作为对货币贬值的对冲,也使得中国公司和个人增加向境外投资的需求。我们相信,在上海自贸区建立一个私募基金是由可能实现的,建立私募基金后,向自贸区管理委员会提交申请允许向开曼或英属维珍群岛投资,然后将投资转入例如房地产类的在美资产。除非申请中明确指出向美国资产投资,上海自由贸易区委员可能不允许中国投资者集合进行“先募资后发掘项目”的净壳投资方式。  有些在自贸区创立的基金已有相对成功的境外投资批准。随着时间推移,境外投资的趋势也会越来越明显,但由于中国目前对于如何实现经济增长和中产阶级增加,还面临一些挑战。我们相信对于境外投资的开放,将会同时刺激对中国境内投资的增长,也会帮助实现中国最终实现其建立自己GDP和扩展中产阶级财富的目标。这些复杂的模式需要多方专业人才、优秀的律师和基金管理公司的共同参与。  移民中介帮助EB-5投资人集合资金可以同时拓展向客户介绍新产品的能力,使中国投资者(在EB-5投资之外)受益。对于移民中介来说,基金的建立是一个非常好的境外投资机会,也应作为一项产品来认真考虑。  获取更多信息,请访问我们律师事务所的私募基金主页:http://www.gtlaw.com/Experience/Practices/Private-Equity, 或联系Bruce Rosetto律师:http://www.gtlaw.com/People/Bruce-C-Rosetto  

Posted in EB-5 Investment, Visa, Visa Bulletin

The Department of State (DOS) has released the April 2016 Visa Bulletin, with the Application Final Action Date chart for employment-based applications reflecting some substantial movement. Notably, the 2nd preference category for China-mainland born applicants has moved ahead one month to Sept. 1, 2012, and for India born applicants it has moved ahead a few weeks to… Continue Reading

Posted in Bonds, EB-5 Investment

EB-5  is a growing and acceptable financing methodology as part of the capital stack in many U.S. projects, with real estate assets remaining the primary focus for investment of such capital.  As other projects seek to take advantage of this opportunity to attract capital, the question arises as to whether government bond financed projects are suitable… Continue Reading

Posted in Bonds, EB-5 Investment

越来越多的美国项目开始接受并引用EB-5投资作为融资方式,投资主要集中在地产业。当其它项目开始利用这个机会吸引资本、从中受益时,政府用于筹措项目资金而发行的债券是否能作为EB-5资本,成了一个新的问题。EB-5投资人以特定形成的单位形式,轮流购买政府发售的债券;债券将筹款用于合格项目建设,投资者的资金流向由项目费用追踪。当然,EB-5投资人也需要承担债务拖欠的风险。 用EB-5投资相关政府基本设施项目证券是合适的投资方式;然而,像任何投资一样,完善的尽职调查是必要的。尽管每个项目筹资涉及的收益和风险各不相同,需依个案而论,我们列举一些尽职调查中的一般原则来帮助分析债券投资。 EB-5投资人在什么时间能收回其EB-5资本是评估中非常重要的一项。涉及债券的投资通常是长期投资,这和一般EB-5投资5年周期相比时间相对较长,风险也不同。 一般来讲,证券投资的质量越高,收益率也会降低。低质量的债券以高收益来吸引投资人。所以,如果投资人对于债券发行人信用和付款时间有任何疑虑的话,选择高收益率的债券可能不是上策,因为其风险系数高。风险承受度较低的投资人应该选择高质量的债券,虽然其收益率较低。 那么如何区分债券是否是高质量的呢?一种质量评估方法是通过例如Moody’s, Fitch, Standard & Poor’s这样的独立机构(或称作为“信用评级机构”)进行信用评级。三A级(AAA)证券是最高级别,BBB/Baa是符合商业银行投资最低一级的债券,用Standard & Poor’s的标准来说,BBB/Baa级别是一个底线,当情况发生变化或经济条件不利的情况下,低于 BBB/Baa级的债券容易遭受冲击,可能致使其偿还投资人能力减弱。投资人应该特别加以小心低于BBB/Baa级的债券,因为这些债券不能偿还的风险很高,尽管它们“收益”高,所谓的“高收益债券”通常被业内专业人士称为“垃圾债券”。 政府机关发行的债券并不能决定该债券是否适于EB-5投资者投资。外国投资者也应避免陷入“政府发行的债券肯定比私人机构发行的更安全”这种错误认知。投资者需要调查政府对项目的参与、介入程度,比如,政府仅作为私营机构的证券的一个发行渠道?还是政府直接或间接地通过减免税收等方式为该私营机构提供了实质帮助? 总的来说,EB-5投资者在评估任何政府证券投资中的风险时,需要注意以下事项: 证券发行商的资金情况。需要像审理私营机构财务报表一样,仔细评估证券发行商的财务报表。对于政府发行的证券,其财务申报规定和会计原则是不同的,所以需要熟悉美国政府机构会计规定的专业人士帮助分析评估。财务报表越强,投资者获得其预期收益的可能性就越大。 债券信用评级。通过信用评级机构对投资风险进行评估。三A级(AAA)证券偿还可能性较高。低于这个级别的证券风险系数会增加,低质证券通常会以高票息率欺骗投资人。所以,低于A-级别的证券应当谨慎选择,评级越低,风险越高。 察看之前发放证券偿还的历史记录。 政府在发售债券中介入和在资金上帮助项目的程度。 投资周期:证券的投资周期通常为20年或更长。EB-5投资通常为5年。投资者需要比较长期占用资金和较快取回本金重新投资哪个更适合自身情况。这个问题的答案取决于投资者对风险的承受力,基本来说,长期投资并不适用于每个投资者。

Posted in EB-5 Investment, EB-5 Program

Since its inception as part of the Immigration Act of 1990, the EB-5 program has had a $1,000,000 threshold capital investment requirement, with that minimum decreased to $500,000 for projects in targeted employment areas. Last year, legislation was introduced and circulated on Capitol Hill that would raise this investment amount in varying proposals and conditions…. Continue Reading

Posted in EB-5 Investment, OFAC

The crux of an I-526 Petition is proving the lawful source of funds for an investor. Generally, applicants from across the globe are able to fund their investment via a wire transfer through their banking institution to the designated escrow account for the selected EB-5 project without incident.  While escrow is not a legal requirement,… Continue Reading

Posted in EB-5 Investment, EB-5 Program

Beginning on Monday, Feb. 22, 2016, EB-5 investors with approved I-526 petitions will be able to contact the National Visa Center’s (NVC) newly created EB-5 Investor Assistance Desk. Customers with visa processing questions can send their inquiries to the following email address: NVCeb5@state.gov. Inquiries will be answered by a team of professionals at the NVC… Continue Reading

Posted in EB-5 Investment, EB-5 Program, Immigrant Investor, USCIS

The USCIS Immigrant Investor Program Office (IPO) held its first stakeholder engagement of 2016 on Feb. 3. Primarily speaking for USCIS were Nicholas Colucci, Chief of the IPO, Julia Harrison, Deputy Chief of the IPO, and Laurie McKenzie, the new Division Chief of Policy and Performance. Processing Times and Backlog Reduction Issues As has been… Continue Reading

Posted in EB-5 Investment, EB-5 Program, Immigration

The first hearing of the second session of the 114th Congress on the topic of EB-5 was held in the Senate Judiciary Committee on Feb. 2, 2016. Witnesses included Nicholas Colucci, Chief, Office of Immigrant Investor Program, U.S. Citizenship and Immigration Services, and Stephen L. Cohen, Associate Director, Division of Enforcement, U.S. Securities and Exchange… Continue Reading