News
New Rulings On Borrowed Funds
Latest on Borrowed Funds Two federal district courts have recently held that the USCIS policies on borrowing funds for EB-5 are illegal. USCIS says if a person borrows funds and uses the cash to invest in an EB-5 project, USCIS’s loan rules must be followed, which require the investor to put...
Update on I-829 Receipts
I-829 Receipts Update The Form I-829 is the petition investors must file for removal of conditions on their permanent resident status. For approval, one must prove: The investment was maintained at risk; and The 10 jobs were created. After the I-829 is filed, USCIS issues a receipt (Form I-797). This receipt extends one’s conditional...
Effect of Government Shutdown on EB-5
Government Shut Down The Regional Center statute has temporarily lapsed and will be extended when the federal budget is extended. In the meantime, USCIS says they will continue to receive applications. Some American Consuls appear to be open, while other Consuls are calling people and cancelling visa appointments. EB-5 Direct Statute The EB-5...
EB-5 Regional Center Statute Has Been Extended
EB-5 Regional Center Statute Extension Congress has extended the EB-5 Regional Center statute with the government budget resolution to December 21, 2018. Further extension is anticipated. Federal Court Finds Borrowed Funds Are Ok For EB-5 In Zhang v. USCIS, a federal judge in the U.S. District Court for the District of Columbia ruled that USCIS’...
EB-5 Investment Amount Increasing?
The Office of Management & Budget (OMB) has once again published a notice to implement new EB-5 regulations increasing the investment amount and changing the TEA rules. The notice, first published in January 2017, indicates that such changes may be implemented in November 2018. It is possible, as in the...