June 2015

A June U.S. Policy Metrics/Hamilton Place Strategies report Harnessing Private Capital For Job Creation: An Analysis Of The EB-5 Visa Program demonstrates the impact of the EB-5 visa program as a net job creator and budget-neutral catalyst for bringing private investment into the U.S. The report was commissioned by the EB-5 Investment Coalition (EB-5IC), a broad-based, bipartisan organization focused on reauthorizing and strengthening the EB-5 Regional Center Program. This report is authored by Steve McMillin, a partner at U.S. Policy Metrics and former deputy director of the White House Office of Management and Budget under President George W. Bush; Michael Solon, also a partner at U.S. Policy Metrics and former budget advisor to Senate Majority Leader Mitch McConnell (R-KY); and Matt McDonald, a partner at Hamilton Place Strategies and a former advisor to President George W. Bush.

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The United States Conference of Mayors conference hosted their 83rd Annual Meeting on June 19-22, 2015 in San Francisco, California. The EB-5 immigration investor program was included in the adopted resolutions of the organization as listed herein:

EB-5 IMMIGRANT INVESTOR PROGRAM

WHEREAS, EB-5 is the designation for the fifth employment-based preference immigrant visa category established by Congress in 1990; and

WHEREAS, Congress established the Immigrant Investor Pilot Program in 1992 to create Regional Centers which aid foreign investors, by directing and professionally managing their investments while concentrating pooled investments in defined distressed economic zones; and

WHEREAS, EB-5 allocates 10,000 visas annually to foreign investors and their families who invest at least $1 million (or $500,000 in a target employment area) which must generate at least 10 jobs; and

WHEREAS, EB-5 has become a vital source of urban redevelopment funds; and

WHEREAS, since 2008 over $8.6 billion has been invested in qualified American projects; and

WHEREAS, that investment has supported over 171,000 American jobs; and
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Following is the Chinese translation of a previously published blog post:

美国国务院(DOS)7月签证公告给中国投资人带来一些好消息,EB-5投资移民签证中国申请人排期前进4个月,从2013年5月1日前进到2013年9月1日。
这一进展对关注查理•奥本海默有关职业移民签证截至日期预测的人来说,有些出乎预料。奥本海默是国务院签证处的主管,他曾预计6月份EB-5截至日期仍将维持在2013年5月1日。

尽管排期日期变化不大,中国大陆出生的EB-5投资人仍应该尽快提交I-526申请,因为排期的变动并不影响I-526 申请的审批。美国国务院根据优先日期或I-526申请提交的日期,确定等候时间。关于排期,您可以更多地阅读我们的博客。
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The Department of State’s (DOS) July Visa Bulletin brings some good news for China indicating that that the EB-5 immigrant visa category will advance by four months for China, from May 1, 2013 to September 1, 2013.

This development has come as a bit of a surprise to those of you who follow Charles (“Charlie”) Oppenheimer’s, chief of the Visa Control and Reporting Division at the DOS, predictions for employment-based cut-off numbers, who predicted that the EB-5 cut-off date imposed for May 1, 2013, would remain for June.

In light of this modest movement in the retrogression date, mainland-Chinese born EB-5 investors should continue to file I-526 Petitions as soon as possible because these developments have no effect on the adjudication of I-526 Petitions. DOS has created a waiting list based on the priority date, or the date an I-526 Petition is filed, which you can read more about on our EB-5 Insights blog here.
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