Earlier this week, the U.S. Citizenship and Immigration Services (USCIS) released a policy memo providing clarity on what has become a long waiting period between an EB-5 project completion and an investor receiving his or her green card. This gap is partially caused by an increase of investors from China – who take roughly 80 percent of the visas. Currently, Chinese investors could be waiting more than a year to receive their green card. This has brought up questions regarding project failures and the ability to redeploy funds. USCIS addressed in their memo as long as the criteria of the EB-5 program were met – the investors will receive their green card. In addition, the investment can be moved to another commercial enterprise during this waiting period as long as it stays in an at-risk position. While the memo provided clarity in some aspects, Kate Kalmykov, a business immigration and compliance shareholder, stated attorneys who assist investors with EB-5s are still in need of guidance from USCIS.


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