EB-5 info

[kirtida8]

I have received some info on the current regional centers available for this visa from James Lavigne, for anyone who may be interested in pursuing this type of investment.

www.canamenterprises.com
www.amlife.co.uk
www.eb5greencard.com
www.ccax.com

www.worc.biz
www.nobleoutreach.com

Please use a reputable visa attorney (AILA member) if you want to try this route - as it is too complicated to attempt alone, and make sure they have done this type of application before. James informs me that you can borrow the money against your assets to fund the investment - but always check current regulations as they may change. Good luck

[JulieC]

Here is one more

http://www.sd-exports.org/eb-5/ This is dairy farming in South Dakota, formerly geared towards Korean investors and administered through a Korean attorney in California but has been opened up to others.

Amlife is still the most popular and is the one which seems to give immediate income which is something you need to think about if you are borrowing some or all of the money. It may however not be the easiest to get your money back from as some of the other schemes have more defined exit strategies.

[kirtida8]

Yes, Amlife is the one my sister is going for and her application should be going in this week. Will keep you posted on her progress.

[Susie]

Wish her good luck from me Kay, is she a member of expatsvoice? if not why not? he he, if she is anything like you she is most welcome

[peter gold]

Kay
Please keep us posted as you know I am a skeptic. Yet to hear of anyone get to get the condition removed from the green card. I have someone very interested and sent them to a local immigration atty to investigate the scheme

[Munish]

Good luck!

[JulieC]

My friends just got their approval through Amlife, Kay, they were previously E2 for 10 years. Peter, you probably know the EB5 scheme had some serious problems a few years back due to fraudulent applications and there were various court cases. Since this all got sorted out and they have been back on line, a scant two years has passed since the first got their green cards so we should be seeing conditions removed over the next few months. If we dont, then that is the time to start worrying.

[Sharon]

has anyone looked into the pro's and cons with these schemes, do they work?

[peter gold]

Julie
I know all about the EB5 earlier problems and that is why I am scpetical and will only recommend a $1million investment for a full green card and make it through an immigration attorney, not the schemes we have referred to above.
I am not saying the schemes are dubious just that as yet no one has been give an unconditional green card that I have been made aware of. This alone makes me and others skeptical. I hope I am wrong as it could be a very good way of getting lpr and usc status. I wait to see and I am sure Julie will update us.

[kirtida8]

Great news Julie C. Please keep us posted.

[Ray10]

My friends just got their approval through Amlife, Kay, they were previously E2 for 10 years. Peter, you probably know the EB5 scheme had some serious problems a few years back due to fraudulent applications and there were various court cases. Since this all got sorted out and they have been back on line, a scant two years has passed since the first got their green cards so we should be seeing conditions removed over the next few months. If we dont, then that is the time to start worrying.
The USCIS yearly handbook gives you all the figures...

[Sharon]

But how secure are your funds are they protected and how easy it to get them back? Bit worried as some of the above posts said there were scams in the past. Just thinking aloud, can I sell my business and change from an E visa to this new visa or would we have to go back to the uk and start whole visa process from scratch?

[JulieC]

The funds are "at risk", that is one of the premises. But some schemes are used by institutions such as pension funds where there is no visa element and I doubt these would risk their funds in something which was about to go bust. No certainties though. Hard to get your money back in some schemes as you need to sell the investment on to someone who isnt an EB5 candidate. Others like Jay Peak and I think Philadelphia have withdrawal schemes in place after so many years whether it is giving you a condo to sell or whatever. Jay Peak is however almost fully subscribed.

They ask to see provenance of funds, If you are E2 and sell your business you would be in breach of your visa and yes would have to leave and process from the UK, as it would be apparent to USCIS that you have lost your status in raising the funds. There is nothing however to stop you borrowing the money against your E2 business or re-mortgaging your home and using that.

[Susie]

Hi

Thanks for posting this thread Kay and to others for sharing their knowledge

I have not read up too much about this route, so please forgive my ignorance but I am curious to know the following

If someone is in the USA on E 2 and then applies for this change of status, is the current E 2 status canceled?

Not all people would need to sell their business to raise capitol to change to EB5 and why I would like to find the answer to my question

[OberonSH]

Here's some links to info I found about the EB 5, if they're any good. the US embassy site itsself doesn't have too much to say about it.

I suppose technically as soon as you sell your E2 business, you'd be out of status. I reckon the best way would be to raise the finance against the business, thus ensuring you stay in stutus. Is it like the other change of staus though - you're landlocked in the interim?

[JulieC]

As far as I am aware no, Susie, not until the approval is received. I do know some people who did this and they were E2-status, ie 1-94 but no visa, they just got their approval through and are now EB-5 and have just filed their I-485 to adjust status. What it does do however is show immigrant intent which is against the premise of E2. I would hate to file for EB-5 and get turned down for some reason and then have to file for E2 renewal and convince the embassy that I have no immigrant intent and intend to depart the country at the end of my stay.

[OberonSH]

There you go Susie - soon as the investors club hits a million, first on the list gets an eb5, then the next and so on!

[OberonSH]

I'm sure Kay asked somehting similar to James the other night - if you already have a business, on e2 or L1, have created 10 jobs and have shown you've invested a million can you then change status to an EB5? On the face of it, it looks likely:

You may create a new commercial enterprise by:


Creating an original business
Purchasing an existing business and simultaneously or subsequently restructuring or reorganizing the business such that a new commercial enterprise results
Expanding an existing business by 140 per cent of the pre-investment number of jobs or net worth, or retaining all existing jobs in a troubled business that has lost 20 per cent of its net worth over the past 12 to 24 months

So if you've bought a business, have put a million dollars into it, and increased the jobs or worth by 140%, you could change staus. I haven't seen anything about having to do this over a certain period of time (but have only skimmed at lot of this stuff)

[peter gold]

Please be careful posting links.
You are giving free adveritsing to a site which seems to be unlicesned practice of law as a non lawyer for a fee is giving emigration advice
That is a NO NO which someone should report the Florida Bar

[Sharon]

Please be careful posting links.
You are giving free adveritsing to a site which seems to be unlicesned practice of law as a non lawyer for a fee is giving emigration advice
That is a NO NO which someone should report the Florida Bar

Yes Peter very well put, we do not want another Doug Hall to write about. I did not see the link but if this person was practising law and not entitled to do so maybe the poster could pm the names to Punky mods or Sue
I feel the same as others in that it is ok to recommend someone but only if you have used their services yourslef

[OberonSH]

okay okay! I'm sorry! I just found some sites that had comprehensive looking FAQs, so put the links up. The US embassy site had nothing about it.

I promise to never put links up again.

[Susie]

As far as I am aware no, Susie, not until the approval is received. I do know some people who did this and they were E2-status, ie 1-94 but no visa, they just got their approval through and are now EB-5 and have just filed their I-485 to adjust status. What it does do however is show immigrant intent which is against the premise of E2. I would hate to file for EB-5 and get turned down for some reason and then have to file for E2 renewal and convince the embassy that I have no immigrant intent and intend to depart the country at the end of my stay.



Thanks Julie,

Yes, I understand what your saying. Just thinking out loud that some may have to sell their E business inorder to raise the half millon, so technically up a gum tree

Can you pm your number, thanks

[Susie]

There you go Susie - soon as the investors club hits a million, first on the list gets an eb5, then the next and so on!

LOL,

Yes, maybe, lol

But joking aside, just think how many people would need to be employed by the investment company? Box and think outside , is a possible avenue,

[Susie]

okay okay! I'm sorry! I just found some sites that had comprehensive looking FAQs, so put the links up. The US embassy site had nothing about it.

I promise to never put links up again.

Hi

Oh please do put links up, all Peter was saying is we just need to be careful as to not endorse visa specialists, or any other so called specialist who is not licenced to practice and a possible scammer.

.gov web site are safe to quote, as are links to news articles, if you need any guidence I would be more than will in to help or pm Punky or other mods

When are you coming over? must remember to place my order before you do:)

[JulieC]

Yep technically up a gum tree as when you showed provenance of funds it would be apparent you have put yourselves out of status to raise the funds. My friends didnt do this, they raised the money on property and managed to keep their E2 business even though they were E2 status as their visa had expired. As i said though you can raise the money by borrowing.

[OberonSH]

Hi

Oh please do put links up, all Peter was saying is we just need to be careful as to not endorse visa specialists, or any other so called specialist who is not licenced to practice and a possible scammer.

.gov web site are safe to quote, as are links to news articles, if you need any guidence I would be more than will in to help or pm Punky or other mods

When are you coming over? must remember to place my order before you do:)

I din't check the sites, just thought the FAQs looked comprehensive. I'll be more careful in future.

Unfortunately, not til neext year now, as scan date put us at the start of December, so had to canel holiday in November. Want to get out there before next summer, start scouting out. I'll let you all know when, so I can bring over anything you guys miss!!

[kirtida8]

So sorry to hear your plans have been delayed - does this include your wedding? or are you now going to get married in the UK? Best of luck

[OberonSH]

Looks like we're stuck getting wed in the UK :( as FIL is very very keen on us getting hitched before Baby comes along - old fashioned that way.

Either way I'll be the one in the white dress with 'Goodyear' on the side....

[Laura]

hello
I just joined to-day, having trawled through numerous web sites to try to find someone who has had success gaining permanent residency with the EB-5 visa, but to no avail! I'd be grateful for any opinion as to whether it's worth following this option rather than the E2 visa that we are currently trying to meet all the criteria.
Thank you

[kirtida8]

I did get contacted last year by someone who had gotten his EB-5, I will try and contact him to see how he is getting on.

[Laura]

Thank you. The information we are getting on the success rate of the different visas is not very encouraging. My husband and I have had a house in Florida for over 6 years now that we rent out when we're not there. We have been looking to move out permanently for over two years and have our house up for sale in the UK. I own a small business in the UK and we have been advised that our best line of action is to set up/buy a company in Florida and link that to the Uk business, but we must be employing 5 Americans by the end of the first year. That is quite a scary prospect and a big learning curve as employment legislation anywhere is a minefield. It's not that I don't want to employ anyone, just that employing 5 in such a short period is a tall order. The EB5 visa seemed a better option if it works and we can build the business at a steadier and easier rate to manage.

[OberonSH]

If you have a business in the UK, you can look at the L1 intra compnay transfer as well - leads to a GC but does require maintaining the UK side, plus seems to be getting tougher at the moment.

There are no set amounts for employment (shame!) I think it all depends on the business and the profites etc. But the more the better, obviously.

[Bayfield]

How small is small?

If you have the spare money, EB5 everytime.

[peter gold]

I have heard of several who have obtained the conditional green card from their EB5 but no one who has got the full green card.
Any new apps are going to have to wait as current quotas are reached

[kirtida8]

I have heard of several who have obtained the conditional green card from their EB5 but no one who has got the full green card.
Any new apps are going to have to wait as current quotas are reached

There are supposed to be 5000 visas available for the EB-5 regional centers and 5000 for the $1m new enterprise, so if the quota is full for this year than surely there must be someone out there who has had the conditions removed over the years???:confused:

[JulieC]

My friends just got their approval and are adjusting status and I know of three people on various immigration forums who have been approved. All of them seem to have done Seattle. You have to wait two years for the conditions to be removed. As i stated somewhere else, there were some from this project due to be removed this month.
Maybe the 5000 are all Koreans, Kay. There sure do seem to be a lot of them doing EB5!! Then how would we know?? We are relying on info being posted on immigration forums, or filtering through from immigration attornies.

[kirtida8]

This is part of an email I just received from my sister - seems like good news? I am attaching the newsletter that it is part of - but mods please check to make sure it does not break any rules.

# The US Government is substantially increasing certain visa application fees.
# The Investor Visa (EB5) Marriott hotel option looks like it will be sold out in August.
# The two year contingency clause for the first group of UK EB5 investors has now been removed – they now have unconditional Permanent Residency Green Cards.
# If you are Interested in other visa options such as the E2 we have identified a company with an excellent track record
# If you already have an E2 visa and are worried about renewal or possible refusal, an alternative, the EB5 visa has just over a year to run
Id of school in Sarasota rated one of 10 best in USA – and no fees

[Laura]

Thank you very much everybody - back to the research. We really appreciate you help.

[peter gold]

There are a lot of people out there who need to get some information together on this visa so see below.
I have included my opinion for what it is worth and that is use it for the $1 million investment to expand existing or buy new business but think very carefully about the $500,000 investment.
The EB5 category requires an investment of $500,000 to $1,000,000 in a new commercial enterprise that will result in a benefit for the US economy and produce ten full time jobs for workers not related to the EB5 petitioner.
There are currently 10,000 EB5 green cards available annually.
The first route is for applicants with net assets of over US $1,000,000. The applicant and dependant family get a full unrestricted green card and are free to invest anywhere or in any business in the US so long as the company employs more than 10 legal employees.(buying an existing business or expanding an existing business is permissible in some instances).Family members of the investor cannot be included in this number and non-immigrants are also excluded. Employees must not be independent contractors and e must provide services or labor for the business, receiving wages directly from the business. Positions created must be full time and must constitute a minimum of 35 hours per week. However, the 10 positions required do not have to be created immediately and may be projected employment opportunities, so long as they are realistically incorporated into a comprehensive business plan and will be filled accordingly. Buying an existing business or expanding an existing business is permissible in some instances.
The second route (5000 visas ) is for applicants who can prove that they have invested at least US$ 500,000 in property approved by the US Citizenship and Immigration Service CIS -designated Regional Center (in a “targeted business” or “targeted employment area”). Business people as well as persons without a business background may qualify under this program. Basically, capital is the important criteria. Once the EB5 petition is approved, the investor becomes a conditional resident for two years and once the conditions are removed, a permanent resident. Conditional permanent resident status based on EB5 eligibility is granted for two years, to the visa applicant either alone or coming with their spouse and unmarried children They must demonstrate this investment will benefit the United States economy and create the requisite number of full-time jobs (10) for qualified persons within the United States. “Targeted business” is one that has been in existence for at least 2 years and that has lost 20% of its net worth over the past 12 to 24 months, and a “targeted employment area” is an area which has experienced unemployment of at least 150% of the national average rate or a rural area as designated by the Office of Management and Budget.
One such investment for $500,000 which has proved popular is real-estate projects located near 'downtown' Seattle. This part of town used to have an industrial character which is still visible today. As the 'city center' expanded and the demand for office buildings, shops, restaurants and housing increased, it gradually encompassed this area as well. As the area has a maintenance backlog and the unemployment rate is more than 50% above national average, the government designated this area for 'investor immigrants'. This means that if you invest in it ,you will get a conditional two year Green Card.
IMHO I would not invest $500,000 in such a speculative investment, in a targeted area and run down business just for the reward of a conditional green card. This is like buying a run down tech stock in the hope on an upward swing of investment it will turn good.
Other investments are ski mountains in Vermont, potato farming in Idaho.
The whole scheme is being reviewed in 2008, and last time this happened it was scrapped.

[McSporran]

This is very informative - thank you Peter.

[peter gold]

McSporran
If you or anyone else have any personal questions and need to talk pm me, and I will give you my number to call.
However it is better for everyone that we post all relevant matters to be read by all. I plan to post an E2 guide as well as this EB5

[McSporran]

Thanks Peter - I really appreciate the offer, but I dont think the EB5 route is for me...I dont have $1m, and I totally agree with you on the $500k investments and wouldnt touch them with a barge pole.

[OberonSH]

I remember there being another thread about the possibility of changing status to an EB5 if you could prove you'd invested the required aount, boosted the employees etc - i.e. an e2er buys a business, pumps money into it and employs more people (I believe the official figure is something like increase turnover by 140%), therefore technically checking the boxes for an EB5. I think Susie was quite taken with the idea. Did anyone find a definitive answer on this one - does the investment have to be all at the start, or can it be spread over a period of time?

[peter gold]

Obi
Buying an existing business or expanding an existing business is permissible in some instances. This needs a careful review of the facts and applicable rules
but in generalised terms the answer to the question is YES

[Margrit]

There is no need to refer to the regional centers as "schemes" ... Green cards are being approved, permanent ones included. While for the first ten years the program was mostly a flop, it is no longer so. The success rates of Seattle and Philadelphia are just fine. You are free and welcome to go and talk to the representatives of the General Partnerships. They have nothing to hide and they will gladly show you the projects they are involved in ...

[JulieC]

Do you reckon they will renew the scheme in 2008, Margrit? I am hoping so as we have just got 5 years on E2 and were thinking we would do EB5 about three years in if the law relating to E2s hasnt changed by then.

[OberonSH]

I have another question about the EB5. According to one site I found:

The basic investment amount is $1 million. The required investment is $500,000 for a business established in a "targeted employment area." Targeted employment areas include:



1. Rural areas, defined as any area other than one within a metropolitan statistical area or within the boundary of a city or town with a population of 20,000 or more; and

2. Areas having an unemployment rate that is at least 150% of the national average.

So in theory doesn't have to be in one of those regional centres, but can be in any business that falls into this area

Am I right, and if so, where in Florida would qualify?

[OberonSH]

And here's a link I found to a publication on the USCIS website which seems to be some sort of guidelines used to adjudicate the process. I notice it mentiones that the required amount of investment will 'probably' include the purchase price. Something to remember.

http://www.uscis.gov/propub/ProPubVAP.jsp?dockey=987fe2c6b1c3f9e6725655e39a26a 247

[kirtida8]

There are a few counties in Florida - Hardee, Citrus - the ones that are mainly agricultural. I think that Polk is being considered as being a targeted area - but it is not as yet.

[kirtida8]

There are a few counties in Florida - Hardee, Citrus - the ones that are mainly agricultural. I think that Polk is being considered as being a targeted area - but it is not as yet.

[OberonSH]

And as an interesting aside in my travels to find a Gov definition of rural - a google search throws up a hell of a lot of sites about gay cowboys.....

[kirtida8]

And as an interesting aside in my travels to find a Gov definition of rural - a google search throws up a hell of a lot of sites about gay cowboys.....

Lost for words........:rofl: :rofl: :rofl: :rofl: :rofl:

[OberonSH]

According to one source I found, these are the current areas defined as rural. From reading the actual laws (and boy, was that fun) section 204.6 sub section e defines Targeted Employment Area as ' an area, which at the time of investment, is a rural area OR an area which has experienced unemployment of a least 150% of the national average rate'.

Baker County Jackson County
Bradford County Jefferson County
Calhoun County Lafayette County
Citrus County Levy County
Columbia County Liberty County
DeSoto County Madison County
Dixie County Monroe County (excluding Key West City)
Franklin County Okeechobee County
Gilchrist County Putnam County
Glades County Sumter County
Gulf County Suwannee County
Hamilton County Taylor County
Hardee County Union County
Hendry County Wakulla County
Highlands County Walton County
Holmes County Washington County
Indian River County

Having trouble finding stats that tell you exactly where these 150% areas are, but I'm persevering. So the way I'm reading these laws, you can invest either in a rural area no matter what their unemployment rate, or in one of these 150% unemployment areas even that isn't in a rural area - basically one or the other, not necessarily both.

As aslo explained in section 204.6(i) 'The state government of any state of the United Staes may designate a particular geographic or political subdivision located within a metropolitan statistical area or within a city or town having a population of 20,000 or more within such a state as an area of high unemployment (at least 150% of national avergae).'

So I'm not seeing anything to say you wouldn't be able to buy a business or start one up in one of these areas for the lower amount and not qualify for the EB5. I'm really looking forward to hearing what Peter finds out!

[JulieC]

I think it could work ok immigration wise, but investing $500,000 in a business in one of those areas could be as risky if not more so than putting that sum of money into a regional center with the added complication that you would have to live in the area and actually run the business. Fact is people in those areas dont have much disposable income because of the low employment so you need to find something that will make money for you in that sort of an environment. That limits the sort of business you can do. Could end up doing something you dont want to do in a place you dont want to be with a business which isnt making a good return on the $500,000 investment. Regional center gets my vote I think.

[bobinalbuquerque]

I find the prospect of investing in "ourselves" in "our" business in "our" location in something that we know well from years of experience preferable to a regional center.
I've been trying to clarify what exactly the million needs to be spent on to be acceptable as "expansion" expense.
My understanding is that the regional center route can tie your investment up for 5 years, yet LPR status with conditions removed under the EB5 can be secured in less than 3 years.So for the independant EB5 seeker much greater flexibility.

[OberonSH]

I agree Julie on the areas - unless you have a spanking idea that will work in the low income area (as one of the stipulations is that the business doesn't trade in one of the the metro areas- thus getting around having head office in the sticks, and trade somewhere else) then it would be tricky - I was exploring the idea of behalf of those who have maybe already doen that and then could possibly present their evidence to get their visa switched. Another avenue as I can't see anywhere anything about a timelimit for the investment - not forgettting that Peter mentioned if you'd built up your business you could set up another company to buy it - an extremely interesting idea if you've already been there done that.

However, Kay mentioned that Polk county might be reclassified as a high unemployment area, so a bit closer to tourist areas than the other areas.

Bob - Here's a section for the 204.6 rules that might help:

The expansion of an existing business through the investment of the required amount, so that a substantial change in the net worth or number of employees results from the investment of capital. Substantial change means a 40 percent increase either in the net worth, or in the number of employees, so that the new net worth, or number of employees amounts to at least 140 percent of the pre-expansion net worth or number of employees. Establishment of a new commercial enterprise in this manner does not exempt the petitioner from the requirements of 8 CFR 204.6(j)(2) and (3) relating to the required amount of capital investment and the creation of full-time employment for ten qualifying employees. In the case of a capital investment in a troubled business, employment creation may meet the criteria set forth in 8 CFR 204.6(j)(4)(ii) .

[JulieC]

I would agree totally with you on your business, Bob, it is already up and running and with a large number of employees and doing what you want to do where you want to do it. I am speaking more about buying a $500,000 biz especially for the visa in one of the low employment areas. Dont have a million or a business worth that. Yes Polk would be a better area but only in that one small corner of it is profitable due to the vacation homes, there are vast areas of Polk which are rural, am guessing that is what they are targeting.
Peter when you are doing the one million investment in your own business, does money actually have to change hands?? Friend of mine asked when i outlined the scheme as you described it to her.

[OberonSH]

It does seem a bit strange, you'd basically be selling the business to yourself - I can't see where the actual dollar bills would change hands, it would all be 'on paper'. But as long as you have a compnay worth enough, and have the plans to show you'll be creating the 10 jobs, I can't see how they could turn you down.

[peter gold]

You have to understand the concept of corporations. You are selling it from one corporaton you own to a new one you own. You are not the coporation.

[OberonSH]

I know that, it still feels a bit wierd though - would you haggle with yourself?

[peter gold]

Julie I have a green card, so not me doing it.
As many of you know I am a retired barrister and I am working on reserach on this with two attornies one a corpoarte atty the other immigration. If it can be done we will put it in writing If it cannot we will put it to bed.
Lot of legal research and we just need to get the time to do it

[bobinalbuquerque]

It does seem a bit strange, you'd basically be selling the business to yourself - I can't see where the actual dollar bills would change hands, it would all be 'on paper'. But as long as you have a compnay worth enough, and have the plans to show you'll be creating the 10 jobs, I can't see how they could turn you down.


Reply, Re : The potential sale and buyback scheme currently being researched by Peter, if you already have 10 employees,then there would be no need for additional employees.

The accountancy and tax liability angle would be particularly sensitive,if you have grown something from a lesser sum and then complete a $1m sale there must be a tax responsibility.



Re: The "rural/run down" $0.5m qualifying areas,where practical and if potentially qualifying these areas could be used for expansion of your current business by way of buying land and building a warehousing facility. Perhaps you use just a portion of the space for a work shop and to store excess inventory such as blinds and window coverings.....(Hello Julie)..........and lease the remainder.

[JulieC]

I knew you werent doing it personally, Peter, but it was you who told us you were looking into the potential for doing it and that is what I meant. I am still wondering about the money aspect. I do understand the concept of two corporations and yes there would be some tax liability but would the transfer of funds be real or virtual? Not many people could buy their own business except with virtual funds.
Bob, still need the ten employees! Ten warehousemen??? No blinds stored in our business, they are made to customers order and put straight in but I get the drift!

[OberonSH]

The only way to get arund the emplyee issue would be the troubled business route - section 204.6(j)(4)(ii) states that in the case of a troubled business you have to basically show that you've saved 10 jobs, as opposed to having to create 10 new ones. Employment levels must be maintained at least at the preinvestment level for 2 years. But troubled business means one that been around at elast 2 years, made a net loss ofr 12-24 months previous and this loss is equal to at least 20% of the business net worth prior to the loss.

Probably be too much of a gamble if the business was doing that badly, unless of course there was a very very good reason. Anyone seen a floundering goldmine around here??!! :-)

[kirtida8]

Funny you should say that Obi....

When i submitted my extension of stay application earlier this year, I put in a new 5 year business plan ( as the previous one no longer applied for obvious reasons!), and projected that the cleaners could easily become a $1m with 10 plus employees within a couple of years due to the addition of routes and/or drop stores, with not that much capital investment. Unfortunately due to my circumstances and the high legal bills as a result - I will again be making a huge loss this year (double that of last year!).
Peter I would be interested to hear your viewpoint on this. I really need to have an alternative to renewing my E-2 if possible.

[peter gold]

Next week I am meeting the corpoarte atty, and should have an answer by the end of the week. It will be a paper transaction though

[OberonSH]

Well lets hope that this buy out strategy works then, could be an ideal way for you Kay. Might make life a bit easier for you.

[kirtida8]

This is the email I received from my sister today.

NEWS FROM THE AMERICAN LIFE INVESTOR PROGRAM

Dear Mr and Mrs D........

During recent months the early investors in the American Life Regional Center program (since December 2003) have had the Conditions removed from their visas and now have unconditional Permanent Residency. No American Life investor has been denied.

One of the earlier investors from the UK, Mike and Pam Green, now living in Florida, sent me an email yesterday. It is pasted below.
======================================

"From: "Michael Green" <.personal info - deleted>
To: <richard@........edited>
Date: Tue, 15 Jan 2008 08:21:13 -0800 (Pacific Standard Time)
Subject: Green card

Richard
We had our final meeting with Homeland Security yesterday and we are now deemed to be lawful residents of the USA with no conditions and our passports have been stamped accordingly.
Pam and I would like to thank you for holding our hands throughout this whole procedure and I have to tell you (knowing as you do ) that we never visited Seattle and that it was our confidence in you that led us into the investment.
We have never regretted the decision we made, everything you told us about was Fact and Henry at AMLIFE has delivered everything he promised. Your recommendation to use ********** for the legal side was sound. We had tremendous confidence in him and all his team, they were ultra efficient.
I have many people contacting me for advice with worries about the scheme, all that I can tell them is my own experience and if it will help others please feel free to show them this Email. Best regards Mike & Pam."

I have edited out personal contact info for obvious reasons, but if anyone wants it please pm me. Sisters application was put in last July, and at present the processing time is June 2007.

[peter gold]

Kay
This is good news but I still want to see someone with a green card and their investment back in tact
Untill then I am sceptical of several of the schemes. Not this one though

[Susie]

That is very encouraging news Kay, thanks for posting

Have they got their investment back yet ? If not when can they get it?


Keeping my fingers crossed for your sister, she should hear any day so must be nervous

[McSporran]

Kay thats great news, and in general I agree with Peter, several of the schemes seem rather flawed...but the Seattle one doesn't seem to be that way, and seems the most stable of the bunch by a mile.

[v2002]

I saw a similar post on the florida forums posted by one LindaM
I wonder what is the connection?
Why is all E5 applicants receiving a mail from same couple?:confused: Mike & Pam with same contents?
This is the email I received from my sister today.



I have edited out personal contact info for obvious reasons, but if anyone wants it please pm me. Sisters application was put in last July, and at present the processing time is June 2007.

[kirtida8]

As I said, I have the email address of Mike, if anyone wants to contact them to verify - but pm me.

[v2002]

kay you missed my point lol . I was wondering why is Mike and Pam sending same emails to all E5 applicants? :confused: Dont you think thats weird?
As I said, I have the email address of Mike, if anyone wants to contact them to verify - but pm me.

have a look KAY :confused::confused::confused::confused::confused: :confused::confused::confused:

Have posted below excerpts from an e-mail I received on 16th with regard to conditions on the green card being successfully removed from the first tranche of people going for the EB5 (have received the names and e-mail addresses etc but if anyone wants these just PM me) so that was extremely good news to come back to.


NEWS FROM THE AMERICAN LIFE INVESTOR PROGRAM

Dear xxxxx & xxxx (I deleted the names here)

During recent months the early investors in the American Life Regional Center program (since December 2003) have had the Conditions removed from their visas and now have unconditional Permanent Residency. No American Life investor has been denied.

One of the earlier investors from the UK, Mike and Pam, now living in Florida, sent me an email yesterday. It is pasted below.
======================================

"
To:
Date: Tue, 15 Jan 2008 08:21:13 -0800 (Pacific Standard Time)
Subject: Green card


We had our final meeting with Homeland Security yesterday and we are now deemed to be lawful residents of the USA with no conditions and our passports have been stamped accordingly.
Pam and I would like to thank you for holding our hands throughout this whole procedure and I have to tell you (knowing as you do ) that we never visited Seattle and that it was our confidence in you that led us into the investment.
We have never regretted the decision we made, everything you told us about was Fact and Henry has delivered everything he promised. Your recommendation to use .......... for the legal side was sound. We had tremendous confidence in him and all his team, they were ultra efficient.
I have many people contacting me for advice with worries about the scheme, all that I can tell them is my own experience and if it will help others please feel free to show them this Email. Best regards Mike & Pam."

[kirtida8]

It wasn't Mike sending the emails - but American Life who forwarded the email to their investors as verification that the conditions are being removed.

[v2002]

No E5 visa holder will ever have contact numbers of other E5 applicants thats for sure.It has to be someone who have access to E5 applicants emails and want to gain some kind of advantage when the contact this so called mike& pam.
Sorry to say It looks like a WELL organised SCAM to me.
Specially when the are addressed with their correct names, dont you think its weird that E5 applicants name & pvt emails will be available to anyone in first place?

If I were you kay I would advice sister to delete the mail and not think TOO much about it.

[v2002]

Ok even if that is true why is mike and pam's email asking the applicants to reach them with any questions?
It wasn't Mike sending the emails - but American Life who forwarded the email to their investors as verification that the conditions are being removed.

[v2002]

In short if not Fraud than certainly its a bad effort for SELF PROMOTION by AMERICAN LIFE

[joe]

In short if not Fraud than certainly its a bad effort for SELF PROMOTION by AMERICAN LIFE


not sure i follow that......one of the biggest criticisms of the EB5 scheme is that there is little evidence of the green card conditions being removed as the first 'wave' of investors are only now reaching the time when that is possible. if amlife have, indeed, had an email from a 'satisfied client' offering to stand as a reference to potential investors i can well see amlife wishing to use it.

the fact that 'pam and mike' say they have been contacted by many people suggests to me that they are active on forums such as this and many others which are now overflowing with threads about the EB5 scheme.

or i may just be naiive.......

Joe

[Sharon]

It would be helpful if we can find more people who have been successful to post their cases here so we can get the where's and why for's for the whole process. We are looking into the EBE as our eldest is not doing so good at school and worried university might not be an option

[kirtida8]

Just found this site that gives an unbiased account of all the regional centers available for the EB-5 and thought it may prove useful for anyone considering this route. The number of applicants for this visa are below the quota of 3000 per year, although the total invested as a result of the program should reach $1 billion in 2008.

www.everyvisa.com


Good luck

[peter gold]

Sorry Kay this is not unbiased as the owners of this site have a vested and financial interest in your investement in an EB5. They are looking for clients
In my opinion the link should be removed as an endorsement for this atty and visa consualtant. Please click where it links "who are we".

[kirtida8]

Whilst the site does list who the company is - info provided is unbiased and does give the good and bad. The main attorney is also one that has helped Sue in the background for a long while now. Maybe she should decide if the link should be removed, although I still maintain that it does provide useful info for those consiering this route. No disrespect intended to you Peter and I am not endorsing the attorney or the consultant. Anyone going down this route needs to choose their own counsel and do further research before parting with their hard earned cash.

[peter gold]

No problem

[Sharon]

Kirtida8

Has you sister heard about her case yet?

[kirtida8]

I received this info today via email. If anyone is interested in this scheme - pm me as I am not putting the contact details on the open forum without discussion with the other members of admin.

Dear Kirtida:

Much has happened at the CMB Export Regional Center since you first contacted us on August 11, 2006. The CMB Group A and CMB Group B projects have been fully subscribed by EB-5 investors. We raised $5 million for Group A and raised $7 million for Group B. These projects involved several infrastructure projects at the San Bernardino International Airport (the former Norton AFB). In fact, the first two Partnership Group A clients of CMB received approvals on their initial USCIS petitions within 28 days. The remaining clients’ EB-5 applications were reviewed under normal time considerations of the USCIS, which is now taking several months. All petitions filed for Group B were approved within three days.

We are pleased to announce that we are marketing to prospective EB-5 investors the CMB Infrastructure Investment Group I, L.P. (CMBIIG). CMBIIG is structured to be a $120 million investment partnership or 240 investors. To date, CMB has been authorized to raise $106 million by two former military base reuse agencies as described below. The partnership will remain open for one year closing to new investors on March 15, 2009. There are several reasons for the one year limitation:


* One year period for new limited partnership subscriptions allows the six year term of the investment loan to have a fixed termination date thus insuring a defined exit strategy (time) for all partners.
* The EB-5 Pilot Program is due to expire this September 30th unless extended.
* Because of the size of this project it may take a year or more to raise the required capital. We will simply form an additional partnership if need be.

CMBIIG will have the same structure as CMB Group A and Group B. Each EB-5 investor will receive equal interests in this Limited Partnership. Similar to Groups A and B the project invests in new job-creating infrastructure projects at former U.S. Military bases in California within the geographic scope of the CMB Regional Center . Infrastructure is the basis upon which economic growth occurs and creates many jobs that would not be possible without the infrastructure. CMB investment capital is combined with Federal funds, state funds, local government funds, as well as private capital. The aforementioned combination of funds allows an investor’s $500,000 investment to be much more. The EB-5 law allows the investor to claim the entire combined investment capital thus multiplying the funds and multiplying the job creation effects insuring the required ten jobs are created per investor.

The investment will take the form of a loan to the former military base reuse agencies including public and government agencies. The maximum term of these loans is six years to ensure all partners have received their Green Cards. There are two loans contemplated at this time. One will be with the former George Air Force Base in Victorville , California now known as the Southern California Logistics Airport (SCLA) and the other will be with the former McClellan Air Force Base in Sacramento , California now known as McClellan Park . Other projects are under consideration to make up the balance of the $120 million. The CMBIIG expects that the SCLA and McClellan projects will create well over 40,000 new jobs.

The City of Victorville has authorized CMB to raise $100 million for needed public infrastructure projects at the SCLA under the Federal EB-5 Visa program. These SCLA infrastructure improvements include: a municipal utility power plant, rail development with BNSF and intermodal yard, a new industrial wastewater treatment facility, roadway, and public utility improvements, as well as building demolition. These improvements will also facilitate the build-out of 6.2 million square feet of industrial space. SCLA and the Victorville Redevelopment Agency (VRDA) may use CMB funds as “bridge financing� for monies already spent on these improvements and for future expenditures on infrastructure creation.

The Development of new municipal utilities consists of building a 550-megawatt combined cycle power plant with 50-megawatt renewable solar field. All of the power generated by this plant, commonly referred to as Victorville 2, will be sold back into the California grid. Construction is expected to start this summer. The first phase of the rail project (now under construction) is a precursor to a much larger domestic intermodal facility. The design for the intermodal will permit 1.5 million container lifts a year and upon its completion, the estimated job creation by the rail project alone is expected to be approximately 12,240 over 20 years. The cumulative warehouse/industrial space created in response to the building of the intermodal facility is estimated at 33 million square feet. Currently the City and the VRDA are planning the construction of a wastewater treatment facility needed to bring tenants to the new industrial park.

The second loan planned for the CMB Infrastructure Investment Group will be to McClellan Park LLC. McClellan Park is the redevelopment agency for the former McClellan Air Force Base and has asked CMB to raise capital for the McClellan South District area infrastructure improvement project. The funding of this project will significantly aid in furthering the vision for the commercial development of this district. CMB will provide $6 million of a total $22.6 million in capital spending on this project. The other $16.6 million will come from a Federal EDA development grant ($4 million), private real estate investment ($10 million) and McClellan Park general revenues ($2.6 million).

The South McClellan Park project consists of the following: road improvements and realignments to existing roads, building of new access roads from major highways, demolitions of outdated structures, new drainage facilities and the construction of a new water detention basin. Lastly, the project entails the construction of a 50,000 square foot office building, which is required under the terms of the EDA grant and is the first phase of a new flex office park located in the McClellan South District. The repayment of the investment is pledged by Mello-Roos bonding.

The funding provided by CMB will serve as a catalyst to commence the construction which will in turn serve as a catalyst for commercial development of the McClellan Business Park south area.

[gwensvilla]

I am about to embarq on the eb5... subject to hubbys approval.. has anyone any further info on it??? cant do lL I dont think... without starting a new business ...(have been in businesses for 20+ yrs but not for the last 2.3 yrs)

dont want to do e2 as daughter is 18 yrs...
which means h1b.... if you can find an employer... and then if... you can get an h1b... seems to be a lottery now...
so that only leaves the eb5...would struggle to do $1m route... so looks like a regional centre...had hoped one would open up in florida but sadly not..

have identified philly or the ship yards.. as I am concerned about the exit strategy...and they seem to be the only ones with a defined startegy... anyone know anyone going thru the process who I could contact...

even that one isnt wonderful on the timing as my daughter wanted to go to uni 2009 and it will be touch and go due to length of time of processing...also she was hoping to do summer work this year as a "try before you buy" but dont know if she can even do that now.. as the application will probably be going in fairly imminently...and dont think she would get approval...and dont want any rejections on our passports!!!
also the scheme ends in september so looks like its now or never... thought about it a year ago but was too scared...feel more confident now some have got thru with their money back and conditions removed... gwen any updates anyone knows on this visa I would be grateful for any info........

[floridapete]

For a different view on Kay's posting above go to:
http://www.vvdailypress.com/news/development_6100___article.html/hinged_investors.html

What concerns me in the whole of this thing is - no mention of any return on the capital invested. $500K for six years - how much is that worth in interest ?

Or are you all just writing that off for the 'gift' of a Green Card ?

Also see: http://www.cmbeb5visa.com/news.aspx?deid=11

[kirtida8]

Hi Gwen,

My sister is doing the EB-5 in Seattle and should hear any day now on her application. You are welcome to contact her if you wish. pm me and I can give you her email.

[kirtida8]

Floridapete, my sister is receiving interest on her investment - just not sure what it is sorry as I don't really ask. I do know that it will increase once the project is completed and the tenants move in.

[JulieC]

Seattle does pay interest, depends on your project but $2000-3000 a month seems the norm, about what you would get in a CD or a little more at todays rates. Most people doing Seattle do believe there is an exit strategy, in that the project will eventually float. While Philadelphia does have an exit strategy it pays a very low rate of return, Seattles is much much better.
As to now or never it remains to be seen if the regional center scheme will be extended. I think it maybe will, moves seem to be afoot, but of course no certainty.

I chickened out of Eb5 last year and went for E2 instead. Really bad move. Go for it Gwen.

[JulieC]

For a different view on Kay's posting above go to:
http://www.vvdailypress.com/news/development_6100___article.html/hinged_investors.html

What concerns me in the whole of this thing is - no mention of any return on the capital invested. $500K for six years - how much is that worth in interest ?

Or are you all just writing that off for the 'gift' of a Green Card ?

Also see: http://www.cmbeb5visa.com/news.aspx?deid=11


A number of projects seem to be targetting a specific country now, such as the South Dakota dairy farming being marketed as an Eb5 project specifically in Korea. And the one you quote above China. Quite funny really, all these Chinese paying large amounts of money for green cards wheras in twenty or thirty years it looks likely than China will be the powerhouse and the US an also ran.

[gwensvilla]

Kay have dm d you... Julie.. I thought of both projects ... seattle and philly... my worry is the exit strategy.. yes I am writing off the interest as my "payment/gift" of a green card (per Peter) but atleast it is a green card route...sadly I will probably still have to look at the e2 route for my sone... to come over as a seperate entity as he is over 21 yrs.. so looking for a suitable business for him... (which I will help him to run).... gwen

[floridapete]

£250,000 at, say, 5% interest p.a. (current building society accounts) is £12,500 x 6 years = £75,000 (plus compound interest).

That's a hell of an expensive Green Card huh ?

(Plus legal fees of course)

[kirtida8]

£250,000 at, say, 5% interest p.a. (current building society accounts) is £12,500 x 6 years = £75,000 (plus compound interest).

That's a hell of an expensive Green Card huh ?

(Plus legal fees of course)

It really is 6 of 1 and half a dozen of the other depending on your viewpoint. Remember that all visa's have costs associated with them including travel back to your home country for renewals - so when you work everything into the equation - its not that much more for the security of the green card and being able to do whatever you want from day one without constantly worrying if you are in compliance. What price do you put of peace of mind???

[peter gold]

I am very concerned about the 500k investment in EB5 ( not the 1 million one) as this only leads to a conditional green card and many have questionable exit strategies.
The question I ask is if I did not need a green card would I invest 500 k plus fees in these scheme maybe to get some interest for a few years , maybe able to get money out when I have a green card or maybe lose the lot if it goes belly up!!
Think long and hard.
1 million investment yes. I have not advised one single person to go down this route and lost a lot in commissions as I do not want to be sued iof it goes wrong.
The 1 million dollar investment is an unconditional immediate green card and my experience is a 100% success rate
Please forgive if in this e mail I seem to advertise but people need to know the experience and background of the poster

[kirtida8]

Peter, I agree with you in that if you have $1m to invest go with the immediate green card EB-5 - BUT the majority do not have that type of money to invest! Plus you have to be actively running the business and there is NO guarantee that it will succeed - there never is with any business. The regional centers have to produce a viable business plan - taking into account every scenario - in order to get the backing of USCIS and the government. It is far less risky than starting up your own business as they have to have a proven track record and are constantly monitored for performance. Going the regional center route allows you to "semi-retire" if you want to - or find a job. We can agree to disagree on this point. I do not gain anything out of "promoting" the EB-5, but given the experiences I have had with the E-2 and the amount of money I have lost as a result - I wish I had gone down this route from day one as my kids would now be LPR's and not worried about being shown the door in a few years. There are no gaurantees in life - but with experience and a little help, we can and should try to minimise our loses if at all possible. Just IMHO. Everyone should be allowed to make up their own minds once they take all facts into consideration.

[kirtida8]

Received this update today via email.

I know many considering the EB5 visa under the pilot programme regional centre route have been concerned about possible sun setting of the programme in September 2008 – the following could therefore be of interest.
Bill HR 5569 to extend the EB-5 program for five years
This bill was finally considered by the House of Representatives this week by voice vote with very little debate.
The next stage is consideration in the Senate. The Senate has already approved the extension language in a previous funding bill (however the extension bill was stripped out of the funding bill by the House of Representatives ), and so it looks as though HR 5569, and its senate companion bill, could pass through its respective house of Congress more smoothly as a stand-alone bill. Once the Senate hopefully approves a companion bill to HR 5569, then if there are any differences between the two bills, they will be worked out in conference committee between the two houses of Congress, and then sent to the President for approval or veto.

Also spoke with an Immigration attorney who specializes in EB-5 at today's British Amercian Chamber breakfast, and he is fighting hard for it to be renewed as well for Florida to be considered for designation as a center. Will keep you posted.

[kirtida8]

my sister was just granted her visa and should be here in a couple of months. :hyper: :drunk::D

[SHEILA 13]

Kay,Thats great news for you and your Sister:tu:
Sheila

[InnVic]

It is far less risky than starting up your own business as they have to have a proven track record and are constantly monitored for performance. .


errr....didn't fannie mae, freddie mac AIG and lehman brothers have a "proven track record! gulp!

[kirtida8]

errr....didn't fannie mae, freddie mac AIG and lehman brothers have a "proven track record! gulp!

LOL that's a very sore subject in our house at the moment considering how much money my hubby lost from his pension with the fall of Fannie and Freddie. Fingers crossed that the same does not happen for my sister - although she does get regular updates and yes they are feeling the effects, but are confident they can weather the storm - it just may take a little longer for the return on the investment.

[Susie]

my sister was just granted her visa and should be here in a couple of months. :hyper: :drunk::D

Wow, Please send her my congratulations and look forward to meeting her

Took long enough though and about time too :)

[JulieC]

My friends just got their conditional green cards via adjustment of status ( they previously were on E2), took a little short of two years beginning to end.

[Susie]

My friends just got their conditional green cards via adjustment of status ( they previously were on E2), took a little short of two years beginning to end.

Wow, that's great, please pass on my congratulations

So to confirm, they went from E 2 to EB5 ? can I ask if they had the E 2 visa stamped in their passports or were they on change of status?

[kirtida8]

Just received this info via email and thought it was interesting considering the last sentence...

As Congress comes to a recess for the election a “continuing resolution” (CR) was passed by the House and has been sent to the Senate. As of today the CR contains an extension of the EB-5 Regional Center program to March 6, 2009. It is possible the EB-5 section could be removed but it is in for now and my sources in the capitol say it “probably” will remain in the CR. There is no opposition in Congress to extension of the EB-5. Some want to use it as ways to get unrelated immigration amendments accepted.

[kirtida8]

There are now 2 EB-5 designated regional centers in Florida. The Lake Buena Vista Resort and Spa in Orlando ($1m investment as in urban area) and the World Trade center in Palm Beach county which was approved yesterday. I will post further info when I have it. AILA is confident that more regional centers will be designated in Florida soon.

[kirtida8]

Kay
Please keep us posted as you know I am a skeptic. Yet to hear of anyone get to get the condition removed from the green card. I have someone very interested and sent them to a local immigration atty to investigate the scheme

I have been attending an EB-5 seminar on behalf of Expatsvoice - as the organiser's were willing to help with the sites aims. One of the speakers was from American Life. These are the stats that he gave. To date 600 I-526's have been approved (100%), 39 have had all conditions removed. The disparity is as a result of delays in processing applications. Other speakers told of stats for those who wanted to do their own EB-5 business rather than go for the regional centers. Here the rates were 90% I-526 rejected and to date no removal of conditions - mainly due to the fact that most chose to go into the restaurant field which already has a 50% failure rate. Again, I will post further info once I have gotten over the information overload - but this was not a recruitment drive, rather an opportunity to find out a lot of facts that you otherwise do not have access to.

[kirtida8]

OK Here are some pertinent facts about both types of EB-5 so that you can make up your own minds as to whether this is a good way for you to proceed.

REGIONAL CENTER EB-5

TOP 10

1- The investment amount is only $500,000
2- You can live and work anywhere in the uS as this is a passive investment.
3- No prior business experience is needed. You don't need any knowledge of the particular industry that the Regional Center is invested in.
4- You are not responsible for the 10 jobs for US workers - and these can include direct and indirect employment.
5- You can start a business, work for any company or you can remain retired after you get your green card. The same applies to your spouse and all children under 21. You also do not have to leave the US after a certain time as with other visas.
6 Green cards are issued quickly as they do not have the long waiting lists associated with other catergories.
7- Family members - your spouse and children under 21- get green cards too.
8- No yearly cap as with other catergories.
9- You don't need a sponsor or petitioning company to apply for you. As the investor into the reginal center, you invest the funds and are the investor/applicant for the green card.
10- You can become a US citizen after 5 years if you wish ( from date your I-526 is approved)


TRADITIONAL EB-5

TOP TEN

1- The investment amount is $1,000,000 ( in some cases the amount may be reduced if the investment is in a targeted or high unemployment area).
2- Active manangement role. This is not a passive investment like the regional center. You control the business.
3- You are responsible for at least 10 full time US worker jobs, and whilst these jobs do not have to be filled when the application is submitted, they must be filled before the end of the 2 years when application for removal of conditional status is applied for.
4- You don't need a sponsor or petitioning company to apply for you.
5- This is your buisness=your ideas=you are in full control!
6- Grren card is available for main investor, spouse and all children under 21. Spouse and children can attend school or work and you do not need to leave the uS after a certain period.
7- Family members get green cards too.
8- No yearly cap to contend with.
9- After the 2 years conditinal status is removed and you get you 10 year green card, you can sell your business, diversify, retire or keep going.
10- You can become a US citizen after 5 years if you wish.

It can take upto 2 years for the application process to complete ( locate opportunity, submit application to USCIS, Issuance of I-526, Consular process) irregardless of whether you choose the Regional center or you do your own application - most of the delays are due to the backlog at USCIS in general. As stated before, at present the stats favour regional centers for actually resulting in issuance of green cards as the requirements are stringent. Both Regional centers and individual investors are heavily montiored by uSCIS at all times to ensure that all requirements are being met. You can change from another visa status to an EB-5 as long as you meet the requirements. eg if you are here on an E-2, you can change to EB-5 by either investing in a regional center, or proving that you have invested the required funds into you E-2 business over time and have 10 or more US workers. You must have a full paper trail of the funds invested, they can be a gift (again paper trail needed to ensure legality of funds gifted) or can be borrowed.
Hope this info helps. If you have further questions, please ask and i will do my best to answer. Unfortuantely there was just too much info at the seminar to put up in a post, and some was not really relevant to the investor - just the attorney's.

[Ray10]

TOP 10

1- The investment amount is only $500,000 More like 600K with fees
26 Green cards are issued quickly as they do not have the long waiting lists associated with other catergories. The application process is quite long

8- No yearly cap as with other catergories. Yes there is ..but its never got close
10- You can become a US citizen after 5 years if you wish ( from date your I-526 is approved) but still have to get thru the conditional stage

[peter gold]

And do not forget the exit strategy or are you willingto pay 500k for a green card and pray the investment does not go belly up.
People selling these schemes are making major referral/commission fees so please consider very carefuly.

[kirtida8]

TOP 10

1- The investment amount is only $500,000 More like 600K with fees Actually most charge between $20,000 and $35,000 but this includes all the prep and visa fees.
26 Green cards are issued quickly as they do not have the long waiting lists associated with other catergories. The application process is quite long I did put that at the end!

8- No yearly cap as with other catergories. Yes there is ..but its never got close
10- You can become a US citizen after 5 years if you wish ( from date your I-526 is approved) but still have to get thru the conditional stage Have made several references to the fact that you get a conditional card and have to apply for the conditions to be removed.

[InnVic]

I just love the fact that the employment can be "direct OR indirect"....if only those on E2 were given the same consideration!

[kirtida8]

And do not forget the exit strategy or are you willingto pay 500k for a green card and pray the investment does not go belly up.
People selling these schemes are making major referral/commission fees so please consider very carefuly.

Yes all regional centers have exit stratergies - normally between 5-7 years. It used to be possible for the centers to give you your full investment back by getting another investor to buy you share - but uSCIS put a stop to this as your investment then was not deemed to be "at risk". Either way, from everything that I was able to gather from the seminar - and believe me all these points and a lot more were covered - you would get all if not more of your investment back via the ROI. The regional centers are also heavily monitored both by USCIS and the SEC - so there is very little room for fraud. All the centers records are also available to the public at all times thru the freedom of information act - so please feel free to go to the sites and find the info yourself. It was also affirmed that due to the complexity of the application process - use a Visa attorney and not a specialist and do not try to do it by yourself.

[kirtida8]

I just love the fact that the employment can be "direct OR indirect"....if only those on E2 were given the same consideration!

But only if you invest through the regional centers.

[kirtida8]

Just a question - but aren't most green cards issued with conditions?

[kirtida8]

I realise that some may view the info I have provided as biased due to the fact that my sister has invested in the American Life project, or that I am in some way trying to influence prospective investors towards the regional centers. This is not the case, but i do strongly believe that you can only make an informed choice if you have the information in the first place.
In the current economic climate - it makes more sense to take the safest option to securing your family's future, and to date I have not managed to find overwhelming evidence to suggest that the regional centers are a bad investment. After all, how much money have most of us invested in our current businesses, including all the renewals, only to now face losing everything because the economy has taken a nosedive? No investment is guarenteed, and if it is a guarentee that you are looking for than investing in any business venture is not right for you, irregardless of which visa you decide to pursue.

[Ray10]

Just a question - but aren't most green cards issued with conditions?
Only with EB-5 and marriage to citizens

[Kriz1]

Wev have no conditions on ours

[OberonSH]

Thanks for the information Kay, like you said it's having the facts. There is no perfect visa, they all have ups and downs, it's a case of finding the right balance of up and down for you.

[Mike Peach]

I second Oberon. Thanks for the info. Kay. Clear,concise and useful.

[kirtida8]

For those of you who are sceptics of the Regional centers, remember one thing that I found out at the seminar last weekend. All the centers are continuosly monitored by both USCIS and the SEC ( Securities and Exchange commission) and if they do not adhere to any of the requirements - the SEC will investigate and prosecute immediately and at that point all the investors would get their money refunded in full. The SEC is a very powerful body - even more so than the IRS - and nobody likes to be investigated by them as it is a federal offense to commit securities fraud and will involve jail time. Also worth noting is that schemes in which someone asks you to invest in eg real estate, with a promise of a "guarenteed" return, also fall under the jurisdiction of the SEC - even though the people selling the investments may not realise it. If you fall prey to a scam investment, it may be worth your while calling the SEC and filing a complaint. At the very least, just telling the party involved may prompt a resolution that otherwise could only be settled through the courts. I am going to be doing this myself and will keep you updated. If it is successful, a lot of the scammers in Florida will definitely be in trouble and heading for the hills.

[OberonSH]

I recently had a phone conversation with a vsa attorney's office, and they told me they wouldn't even look at EB visas due to the scams. She urged us to go E2 instead and buy a business.

I think a lot of people might be cautious as it's a relatively new thing, and you can see there could be a lot of potential for abuse. If we had that sort of money we might consider it, but I'm glad to see that the discussion we had a while ago about being able to prove you've invested the requisite amount in your own business could be acceptable. Should help the people who have over the years poured time and cash into their businesses.

I'm really glad your sister came through the system relatively unscathed! This option certainly seems more monitored than say - handing your cash to a 'visa consultant' and hoping for the best!

[Ray10]

I

I think a lot of people might be cautious as it's a relatively new thing, !
Started in 1990 and the regional ones 2 years later ...

[kirtida8]

I recently had a phone conversation with a vsa attorney's office, and they told me they wouldn't even look at EB visas due to the scams. She urged us to go E2 instead and buy a business.

I think a lot of people might be cautious as it's a relatively new thing, and you can see there could be a lot of potential for abuse. If we had that sort of money we might consider it, but I'm glad to see that the discussion we had a while ago about being able to prove you've invested the requisite amount in your own business could be acceptable. Should help the people who have over the years poured time and cash into their businesses.

I'm really glad your sister came through the system relatively unscathed! This option certainly seems more monitored than say - handing your cash to a 'visa consultant' and hoping for the best!

Most visa attorney's don't want to do EB-5's because they are complicated and heavily monitored and need specialist knowledge. As I said before -there is little room for fraud in a regional center investment as the SEC is involved. You are far more likely to fall victim to a bad E-2 business than get "scammed" in an EB-5 center. Please do your own investigations into all the regional centers - their sites contain a lot of information about their track records, ROI to investors, and even which countries have the highest number of investors. In no way ever give money to a visa consultant - they are not licensed to do them.

[wantedtobe]

We did lots of research into American life and decided not to go for it. Just thought the price of a green card was too high for us after getting back negative reports from accountants. Is there any information of anyone getting their green card, with conditions removed and actually getting their investment back. Best business to be in is setting up an EB5 scheme...they can't lose can they!

[JulieC]

Conditions removed yes, getting your investment back is a lot more problematic except with Jay Peak where you get a condo to sell, eventually, and Philadelphia where they guarantee it back after so many years but give you a very very low rate of interest.

[kirtida8]

What most people are missing is the fact that the investment has to be deemed "at risk". If you want a guarentee that you will get all of your money back after a required amount of time - then it would hardly be an at risk investment and therefore would not be granted upon application. The same principles apply when getting any investment/business visa in that the money has to be at risk - so even with an E-2 business, you may not get your investment back depending on economic conditions etc. Weigh all the pros and cons including if you had to continually renew your visas, cost of travelling back to the uK to do this, other benefits of being a permanent resident as opposed to non-resident including tuition fees, and then see if investing in an EB-5 center is worth it. Ohterwise stick your money in a high interest account - but then again maybe that's not so safe eithe nowadays. ;)

[JulieC]

Agreed. Kay. Many people who bought E2 businesses a couple of years back would not get their money back either if they sold today and maybe for years in the future also and they didnt end up with a green card out of it. You pays your money and you take your chances.

[kamana]

I've read these posts with interest. Obviously, an EB-5 visa requires a large investment and investors want some assurance that they won't suffer large losses. Although the visa requires the investment to be "at risk" some investments are obviously more secure than others.

Some regional centers offer low-interest loans and a clear exit strategy (such as CanAm) and are relatively safer than others that engage in riskier ventures. If you're investing primarily for the green card and you don't have a lot of entrepreneurial savvy, I would recommend sticking with a regional center that has a clear exit strategy. Your money is relatively safe, although you won't get a huge return on the investment, you will get the money back within a fixed time frame.

[InnVic]

, you will get the money back within a fixed time frame.

oh yeah...and you can assure us of that????????????????????

[JulieC]

oh yeah...and you can assure us of that????????????????????

Any of these schemes can go belly up so there are no assurances. But Philadelphia which I think is being referred to does have a firm exit strategy however very low returns over the period that the money is tied up. In these days of only 2% on CDs this may be of less importance than it used to be when you were losing 5% on $500,000 for five years.

[kirtida8]

oh yeah...and you can assure us of that????????????????????

Innvic - NO business can guarentee or assure you of a return on your investment - including real estate or a bank!. If you or anyone else for that matter want that kind of guarentee than I suggest you keep away for any and all business related investments. No one on this site has recommended anyone to go blindly into investing in a regional center - so I do not understand where your rancour comes from. Its OK that you do not see the benefit of the EB5 - but why are you so against anyone even considering them???

[kirtida8]

Just wanted to let you all know that my sister has her interview on the 11th of Feb, with medicals on the 12th. Hopefully won't be long now before they can all move over here.

[kirtida8]

Found this article whic may answer questions for those who are sceptical or just want more answers :)

http://www.ilw.com/articles/2009,0205-hinrichsen.shtm

[kirtida8]

This is a very interesting article providing a history of the program.

http://www.wolfsdorf.com/A%20Review%20of%20the%20Immigrant%20Investor%20Pro gram.pdf

[kirtida8]

Just wanted to let you all know that my sister has her interview on the 11th of Feb, with medicals on the 12th. Hopefully won't be long now before they can all move over here.

Just to update, sister was granted her visa but had to provide proof that she had funds of $106,000 available to her so that the family could support itself for 2 years.

[kirtida8]

Well Sister finally arrived yesterday - it was a little rushed as she had to arrive before midnight tonight as the program is due to sunset tomorrow. The guy at POE doing the secondary interview/fingerprinting was very nice to her - especially in light of the fact that the embassy had messed up her visas - she was put as male and hubby as female in the gender catergory!!!!! He told her that she needed to get her SSN's sorted asap and the greencards would come in the mail. She gave my address as she has t go back to the UK to wrap up her business and say goodbye to friends and family - but she should be over permanantly next month. Its great to have them all over here though!

[sls9472]

Hi kirtida8,
How are you? I have been reading your post for quite a while. I like to thank you for posting the regional center information. Finally I went through EB5greencarddotcom site for the Jay Peak resort. It took them almost 6 months to get my financial straighten out since my business is in Dubai and most of the transaction happens in Cash ( tax free land ).
Finally, they file my I-526 on march 5 and the reciept date is March 6. The good thing was that I meet most of everyone involve in EB5greencard in person and discussed my file and issues.
Now the sunset date has changed to Sep 09, so hoping to hear from the USCIS before that. Will keep you guys posted.

Sushil Singh

[kirtida8]

Hi and :welcome: Sushil. Glad that you found the info useful and your case is proceeding. It is my understanding that they will be processing the files a lot quicker now so hopefully it will not be long before you and your family can move over here, Where do you plan to settle?

[sls9472]

Hi kirtida8,
Not sure why you would say that application would move alot quicker. The time frame I was given was 6 month for I-526 and AOS another 4 months. Overall approximately 1 yrs or so.
I use to live in US, 14 years of my prime time ( college and work). Was on F1 and then H1. Was not interested in green card because of Global taxation. Still not that keen about the US economy. But I do love the open land and 4 seasons. Initially, would move to Edison, NJ. After getting my condition removed from green card, I might move down south or West.

But thanks again and I hope you are right after the processing time

Sushil Singh

[sls9472]

Hi kirtida8,
Just wanted to thank you again. My I-526 was approved within 6 days. You were right about the process timing. Let me know if you want me to post my receipt and the approval notice on this site.
Thanks to the EBGgreencard people and thank you Kirti for your posts.

Thanks
Sushil

[kirtida8]

You are very welcome Sushil and congratulations.

[kirtida8]

Interesting article that may provide useful info. Have also learned today that the program has passed through the Senate to gain permanency, and now needs to pass through the house before being signed into law by the President.

http://www.floridatrend.com/article.asp?page=1&aID=51274

[CUDA]

Thanks kirtida8 for the info. Please keep us updated.

[Sabite]

Thanks for the info CA.
Im assuming if its not been to Sega yet it also hasnt been through the dreaded Microsoft Certification Process?
-dom dom doooooooooooom-

[Susie]

My thanks to Kay for posting her experience (or sisters) in this thread, it makes interesting reading

[kirtida8]

I know that many of you ask if there is "proof" that EB-5 investors have ever had the conditions removed from the initial GC's and found this today which should help those wishing to consider this visa in the future. It is only for 1 center - but just goes to show that the program is working.

As of September 16, 2009, following is the track record of I-829 conditions removals/permanent green cards approvals for the Philadelphia PIDC Regional Center. However, it should be noted that other featured EB-5 RC Programs, such as Pennsylvania DCED RC, Los Angeles Film RC, and Hawaii DBEDT RC -- which all began later -- have the same "tested" investment structure as the PIDC Regional Center Program; and therefore, we expect I-829s for the EB-5 projects in these RC Programs to be approved also. "Families" mean the Investors (Principal Applicants) and their dependent family members who applied for I-829s as derivatives of the PAs.

LP 1: 4 families
LP 2: 6 families (all investors in LP 2 were approved)
LP 3: 8 families
LP 4: 4 families
LP 7: 2 families
LP 9: 16 families
LP 10: 5 families
LP 11: 6 families
LP 13: 1 family
LP 14: 6 families
LP 15: 4 families

Total number of EB-5 projects with I-829 approval(s): 11 EB-5 Projects (for Philadelphia PIDC Regional Center)
Total number of families with I-829 approvals: 62 Investors and families

As always - I urge everyone to do their own research before embarking on any investment or visa path.

[kirtida8]

it looks like the EB-5 program is going to be extended til Sept 2012 - just waiting on the bill to be signed into law.

[peter gold]

I still worry about an exit plan and if any of these developments fail before the provisional green card is made full then the invsetor has lost BIG No green card and no money

[eb5opportunity.com]

Many of your questions can be found by our California company which specializes in helping foreign nationals (mostly Chinese) in acquiring U.S. Green Cards (and permanent citizenship) through the EB-5 Investment Visa program. We have nice investment options at the $500,000 level, all approved by legitimate Regional Centers.

Very useful information and downloadable charts are available at www.eb5opportunity.com.

Hope this helps.

[kirtida8]

Just a quick update for those who worry that conditions are not removed and the EB-5 is therefore risky. I have personally met with one investor in the Seattle center who has had his conditions removed and is awaiting the return of his funds ( the all important "exit") which he has been informed should be within the next few months. My sister who is also an investor with this center has just applied to have her conditions removed and I will update when this occurs as USCIS is backed up at present and this may be exacerbated by the imminent shut down of the government due to an inability to agree on a budget. Hope this helps future investors considering the move here to make an informed choice on which investment vehicle and visa is right for them.

[kirtida8]

For any of you who have been following this thread - my sister and her family have now successfully removed the conditions on their GC's! They still have a year or so before they can get their initial investment back - but the signs are good and they are happy with the outcome so far.