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EB-5 Insights Where Government Policies and Business Realities Converge

Monthly Archives: September 2015

Posted in EB-5 Program, Legislation

Today the U.S. Congress passed a government funding bill containing a short-term extension of the EB-5 Regional Center Program through December 11, 2015.  We wrote previously about the EB-5 Regional Center Program’s prospects for reauthorization in a post on September 14.  The bill, known as a continuing resolution, contains an extension for the EB-5 Program along with extensions… Continue Reading

Posted in Firm News

Law360 conducted a survey to identify the 10 law firms that made the largest charitable donations in 2014.  Greenberg Traurig ranked No. 1 with over 7 million dollars in charitable donations.  Greenberg Traurig attorneys from across the firm regularly help the neediest on matters as wide-reaching as human rights and economic development, and as personal… Continue Reading

Posted in Tax Considerations

On Sept. 9, 2015, the IRS issued long-awaited guidance on the 2008 legislation relating to gifts to United States persons made by former U.S. citizens and long-term residents who expatriate on or after June 17, 2008, and are classified as “covered expatriates.[1]” The guidance came in the form of proposed regulations, which will be effective… Continue Reading

Posted in Events

Greenberg Traurig recently attended this year’s Samsung Hope For Children Gala at the Manhattan Center in New York City.  With hundreds of guests in attendance, including musicians, athletes, and celebrities, this program has raised millions for schools, health initiatives, and community-based foundations.  One hundred percent of the proceeds raised by the Samsung go directly to… Continue Reading

Posted in EB-5 Program, Legislation

Today, leaders in the United States Senate unveiled legislation to fund the Federal Government through December 11, 2015 that contains an extension for the EB-5 Regional Center Program.  The bill, known as a continuing resolution, contains an extension for the EB-5 Program along with extensions for E-Verify, the Conrad-30 Waiver Program, and the Non-Minister Religious… Continue Reading

Posted in EB-5 Investment, Firm News

Kate Kalmykov, a shareholder at Greenberg Traurig, was quoted in Law360’s article, “Gov’t Projects Nab EB-5 Funds As Investors Seek Security.” The article discusses how recently lawyers are seeing EB-5 investors increasingly looking for low-risk ventures and finding themselves in public projects. Law360 provides various examples of current public EB-5 investments from redeveloping multifamily housing… Continue Reading

Posted in EB-5 Program, Events

Greenberg Traurig attorney Kate Kalmykov recently presented at The Real Deal’s U.S. Real Estate Showcase & Forum in Shanghai. This was The Real Deal’s first event in Shanghai, and it brought together over 6,000 participants interested in learning more about the EB-5 program. The panelists provided insight to Chinese residential and commercial investors on the… Continue Reading

Posted in EB-5 Program, Events

On September 17, 2015, the Bipartisan Policy Center (BPC), a Washington, D.C. non-profit organization that promotes consensus policy solutions on issues of national concern, hosted a panel discussion on the EB-5 immigrant investor program.  The discussion was led by BPC Governor’s Council members Jim Douglas, former Vermont governor, Mike Beebe, former Arkansas governor, and George… Continue Reading

Posted in Administrative Appeals Office, EB-5 Program, USCIS

For the six (6) months prior to the April 22 EB-5 Stakeholder Engagement, USCIS began to follow a reinterpretation of the regulatory definition of “capital” found at 8 CFR 204.6(e). It is believed this line of thinking stemmed from an erroneous analysis first applied in  Administrative Appeals Office (the “AAO”) decisions from May 2014, which… Continue Reading

Posted in USCIS

Recently, USCIS sent an e-mail alert from its Public Engagement Division to “remind” stakeholders that regional centers and related commercial enterprises should not contain the words “United States,” “U.S.,” “US” and “Federal” in their names. The e-mail alert claiming that the use of these words by themselves could imply a false relationship with the U.S…. Continue Reading

Posted in EB-5 Program, Legislation

目前,国会参议、众议两院的民主党、共和党成员正就EB-5区域中心重新授权项目进行商议,但在本文发表时,两党还未达成一致意见。参众两院必须在今年9月30日之前就确切文字达成共识,更全面的区域中心重新授权项目改革才能获得通过。但是,基于目前两院仅有不到10天的时间来解决此议案,改革面临挑战。最可能发生的情况就是区域中心重新授权项目会和其它三项移民相关议案一起获得暂时性延长。此暂时性延长将会作为持续决议(Continuing Resolution )的一部分获得较短的延长期。持续决议是在2015年9月30日政府财政年度结束前维持政府重要组成部分运作的临时性决案,国会通常使用持续决议直到正式拨款议案下发为止。现在看来,持续决议甚至是否能及时通过以来阻止政府关闭都是一个待解决的问题。总体来说,2015年9月30日仍为EB-5项目的重要截止日期。

Posted in EB-5 Program, Legislation

Democratic and Republican Negotiators in the House and Senate are working through the EB-5 Regional Center Program’s reauthorization and have not reached consensus as of this writing. The House and the Senate must agree on language and pass that identical language in both Chambers prior to September 30, 2015 in order to effectuate the desired… Continue Reading

Posted in Events

Jordi S. Bayer, Dillon R. Colucci, and Lauren A. Tetenbaum, members of Greenberg Traurig’s Business Immigration & Compliance Group, were invited to speak on September 8, 2015 at an international student orientation event at Fordham University regarding post-graduate immigration options for students. Tetenbaum provided an overview of U.S. immigration law, including the various agencies involved,… Continue Reading

Posted in EB-5 Program, Visa Bulletin

2015年10月的签证排期表涵盖了一些重要变动和相关信息。首先,对已获批准的EB-5区域中心试行项目相关联的I-526申请签证全部显示“不可用”。排期表指出,目前签证数额“不可用”是由于国会对于EB-5区域中心试行项目还未进行复议。排期表进一步指出,在试行项目复核通过后,对除中国以外的其它国家签证数额将更新为“当前”,不会出现积压情况。对于中国的收件截止日期(cutoff date)已经提前到2013年10月8日。需要注意的是,这是美国国务院首次将等待国会复议的EB-5区域中心试行项目签证数额定为“不可用”,以往国务院会针对项目更新信息分别作出指导方针。 另一重要发展,则是国务院创建了两种类别的截止日期(代替了目前系统仅有一类别的截止日期)。 这两类截止日期将会出现在每月的排期表中,包括2015年10月的排期表。第一类截止日期是“最终通知”—目的在于标明裁定身份调整申请和移民签证申请的截止日期。第二类截止日期是针对递交身份调整申请的截止日期。国务院的这项新措施允许在美国境内持有有效临时签证的EB-5获批投资者,在“递交”日期截止前,递交身份调整申请。尽管在“最终通知”日期更新到“当前”之前移民局不会裁定申请,但申请一旦递交,外籍申请人便有资格获得身份调节申请的二级受益,包括在美工作许可文件和“回美证”(即申请绿卡的外籍人士在离开美国一段时间后无需移民签证或非移民签证便可重新返美国的证件)。需要注意的是,虽然由于等待国会复议,“最终通知”类别截止日期目前显示EB-5试行项目签证数额为“不可用”,而对除中国以外的国家,“递交”类别的优先期都显示“当前”,“递交”类别的截止日期显示为2015年5月1号。  

Posted in EB-5 Program, Visa Bulletin

The October 2015 Visa Bulletin includes some important changes and information.  Firstly, visa numbers in connection with approved EB-5 Regional Center Pilot Programs I-526 petitions are marked as unavailable across all countries.  The Visa Bulletin notes that this unavailability is due to the fact that the EB-5 Pilot Programs have not yet been renewed by… Continue Reading

Posted in EB-5 Program

This year’s EB-5 Investor Magazine’s Annual Conference in Los Angeles featured Greenberg Traurig attorneys Kate Kalmykov and Laura Reiff.  The 4th Annual EB-5 Conference hosted nearly 500 regional centers, attorneys, and EB-5 program stakeholders.  The guests were joined by keynote speaker House Judiciary Chairman Bob Goodlatte (R-VA-6) and special guest speaker former Pennsylvania Governor Ed… Continue Reading

Posted in EB-5 Program, Targeted Employment Area

Introduction The Government Accountability Office wrote in its report of August 12, 2015 that 90 percent of EB-5 investments are made in Targeted Employment Areas (TEA).  Under current EB-5 law, a Targeted Employment Area is an area that qualifies for a reduced investment amount of $500,000.  To be designated a TEA, a geographic area must… Continue Reading

Posted in I-526, I-829, Uncategorized, USCIS

Today USCIS released performance data on I-526 and I-829 petitions.  The data provides an overview across several segments for case status (received/approved/denied/pending) for FY 2008 through FY 2015.  Data for FY 2015 is broken down by quarter. The chart below summarizes USCIS statistics on I-526 filings: Comparing this data to similar information in 2013 is… Continue Reading

Posted in I-526, I-829, I-924, USCIS

On August 31, 2015, USCIS released updated processing times for EB-5 related petitions.  The following chart provides the average processing times for cases being adjudicated by the Immigrant Investor Program Office (IPO) as of June 30, 2015: FORM Processing Timeframe as of June 30, 2015 I-526 13.5 months I-829 14.3 months I-924 11.8 months  … Continue Reading