USCIS has issued a proposed rule on "modernization of the EB-5 Immigrant Investor Program" changing some MAJOR provisions governing EB-5, including: Raising of the minimum capital investment amount to $1.8million (and $1.35 for TEA); Priority Date retention; Elimination of state designation of high unemployment areas. Public comment period ends 4/11/2017.
EB-5 Regional Center program to be Extended Through April 28, 2017
Yesterday, Congress introduced a bill for another continuing resolution that will extend federal government funding through April 28, 2017. Included in this stop-gap measure is a short-term reauthorization of the EB-5 Regional Center Program through April 28, 2017, avoiding a lapse to the Program which would otherwise sunset on December 9, 2016.
U.S. SENATE MOVES TO EXTEND EB-5 PROGRAM AS IS
The Senate is moving forward with an extension of the EB-5 immigrant investor program as is and reforms to the program appear unlikely.
The provision to extend the program is included in the continuing resolution, a short-term budget bill that allows the government to keep running until early December.
EB-5 visa program may expire on Sept. 30 if Congress doesn’t take action
The investor visa program, EB-5, is set to expire on September 30, unless Congress can temporarily extend it, or reform it to cut down the loopholes and eliminate the numerous cases of fraud that surface with the program.
VT reaches $5.95 million settlement with Raymond James
The Vermont Department of Regulation has reached a settlement with Raymond James and Associates, Inc., in connection with the EB-5 scandal in the Northeast Kingdom.
Price for a Green Card: $500,000 Stadium Stake
For years, sports teams have tried to defray the multimillion-dollar costs of their new stadiums by asking fans to pay thousands for personal seat licenses that entitle them to buy season tickets.
Flávio Augusto da Silva is taking the concept further. In what may be the first deal of its kind, Mr. da Silva, the majority owner of Orlando City of Major League Soccer, is asking investors from Brazil, China and elsewhere to pay $500,000 each for a stake in the stadium he is building near downtown Orlando. In return, the foreign investors receive annual dividends, two season tickets and something even more valuable: a green card that allows them, their spouses and sometimes even their children to live and work in the United States.
Lawmakers Take ‘Fix It or Nix It’ Stance on EB-5
A popular senior housing finance program that was previously under fire received a short term reprieve—but lawmakers continue to discuss dismantling or reforming it.
The EB-5 financing program has been extended exactly as is until September 30, 2016, but calls to reform the program with stricter regulations have remained. The provision to extend the program without major changes was approved within the federal funding Omnibus Bill by Congress on December 15. But in early February, the program was back up for debate.
NYCEDC And CUNY Launch IN2NYC Program For Foreign National Entrepreneurs
New York City Economic Development Corporation (NYCEDC), in partnership with the City University of New York (CUNY), today announced the launch of the International Innovators Initiative (IN2NYC) Program, the first municipal program in the nation designed to help foreign national entrepreneurs access visas so they can create jobs in the United States.
EB-5 Provision Extended
A joint resolution in Congress has temporarily extended the EB-5 provision governing Regional Centers by granting funding of the program until December 16, 2015.
I've Graduated! What Now?
International Students who graduate from U.S. universities and are educated in the U.S. are facing a visa dilemma when it comes to options after graduating. Most of the international graduates obtain an Optional Practical Training (OPT), which extends status of stay for 1 year (a 17 additional month is granted for those in the field of Science, Technology, Engineering, Mathematics) and allowing the international graduates to work in their specialized field. However, even with the OPT extending their status, they are facing a dilemma of not being able to stay due to lack of H-1B visa “quota” each year. Brookings Institution made an analysis in 2010 that only 30 percent of international students graduating from U.S. universities received H-1B visas. The rest of the graduates who didn’t qualify have very limited to no choice left but to go back to their home country as far as visa options for professional workers and/or entrepreneurs are concerned. The biggest argument surrounding this topic is whether the graduates should get an alternative way to help them stay in the U.S. and help the economy grow. One of the main arguments against the idea is that foreign graduates are taking the jobs that should be given to U.S. citizens at a cheaper labor cost. On the other hand, people in favor of helping the graduates believe that, “immigration system forces many of them to leave, sacrificing the innovation and economic growth they would create here.” Stuck in between these arguments are the foreign graduates, living with the uncertainty as they gamble their career based on the H-1B lottery system.