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EB-5 Insights Where Government Policies and Business Realities Converge

Tag Archives: Immigrant Investor Program

Posted in EB-5 Program, I-526, I-924, Immigrant Investor, Immigration, Regional Center, USCIS

The Immigrant Investor Program office (IPO) has decided to hold in abeyance I-526 Petitions until the adjudication of an associated Exemplar I-924 Petition, even when an associated I-526 Petition is past posted processing times. This has had a particularly detrimental effect on I-526 Petitions filed prior to Sept. 30, 2015, when there was a surge… Continue Reading

Posted in EB-5 Program, I-526, I-829, I-924, Regional Center, USCIS

At its July 28, 2016 stakeholder engagement, USCIS Immigrant Investor Program Office (IPO) Chief Nicholas Colucci focused his opening remarks on USCIS’s efforts to enhance the IPO’s adjudication capabilities, the office’s commitment to conducting program oversight and promoting program integrity, and the role of the designated regional center in maintaining program integrity. Before delving into a… 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, 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 Department of Homeland Security, EB-5 Program, Immigration, USCIS

Per the Immigration and Nationality Act (INA) § 286(m), 8 U.S.C. 1356(m), the Department of Homeland Security (DHS) has the authority to charge fees for immigration adjudication and naturalization services at a level to “ensure recover of the full costs of providing all such services, including the costs of similar services provided without charge 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, 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 Job Creation, EB-5 Program

Created by Congress in 1990, the EB-5 Immigrant Investor Program was designed to stimulate the U.S. economy through job creation and capital investment by foreign investors. Since its inception, the Program has impacted thousands of foreign nationals and, in its current form, is extended through Sept. 30, 2016. Though we have previously addressed the many… Continue Reading

Posted in EB-5 Program, USCIS

On Aug. 13, 2015, USCIS held a stakeholder engagement for individuals interested in the EB-5 program in Los Angeles and via conference call. Our detailed summary of the engagement will be available on our partner site. The engagement was attended by several leaders of the Immigrant Investor Program Office (IPO) of USCIS (including its Chief,… Continue Reading

Posted in Immigrant Investor, USCIS

On June 4, 2015, USCIS’ Immigrant Investor Program Office (IPO) hosted a stakeholder engagement to discuss expenses that are, or are not, includable for job creation under the EB-5 program. This engagement is part of the IPO’s EB-5 interactive series, which covers in depth topics and provides an informative discussion for EB-5 stakeholders. As stated… Continue Reading

Posted in EB-5 Investment, EB-5 Project, Securities Law

Yesterday, the U.S. Securities and Exchange Commission (SEC) ordered a US-based foreign finder operation to cease and desist from operation as an unlicensed broker-dealer.  The charges are some of the first against brokers handling investments in the EB-5 Immigrant Investor Program and follow earlier SEC actions against fraudulent EB-5 offerings. According to the SEC’s order,… Continue Reading

Posted in EB-5 Program, I-526, I-829, I-924, Immigrant Investor, Uncategorized, USCIS

USCIS updated its processing times for the Immigrant Investor Program Office on Feb. 11, 2015. Unfortunately, the news is not welcome. Processing times ticked up slightly to 14 months for I-526 Petitions, 11.4 months for I-829 Petitions and 11.1 months for I-924 Applications. The I-924 Application processing time has risen a full seven months from a low… Continue Reading