Senator Patrick Leahy Pushing for EB-5 Permanency

From Vermont NBC affiliate WPTZ comes this report on Senator Leahy’s (D-VT) support for a permanent EB-5 regional center program. Following the news story is a transcript of Senator Leahy’s comments upon introduction of the bill as well as the text of the bill itself. As you will see, the bill is very brief. Sen. [...]

San Francisco Publication Scrutinizes EB-5 Program Growth

In a lengthy story about the increasing popularity of EB-5 and the spike in regional center formation, the San Francisco Bay Guardian takes a hard look at just who benefits the most from the program. Of particular interest to EB-5 practitioners will be the article’s concern with a perceived lack of oversight by USCIS, specifically [...]

Victorville Issues Refund to EB-5 Investor, Local Paper Publishes Timeline

According to the Victorville Daily Press, the now defunct regional center has issued a $500,000 refund to at least one investor. The paper also provides a comprehensive timeline of events leading up to the regional center’s termination by USCIS: EB-5 investor loses $50,000 February 17 VICTORVILLE • An Asian investor has agreed to forfeit $50,000 [...]

Wall Street Journal Publishes Story on Growth of EB-5 Regional Centers

An article in the Wall Street Journal notes the rapid growth of the EB-5 program in the midst of the economic recession. It also highlights how New York developer Forest City Ratner has partnered with the New York City Regional Center to finance its Atlantic Yards project through foreign investment. Projects being handled by the [...]

Call Center in Dallas to Receive EB-5 Funds

This from the Dallas Business Journal: Call center, 300 jobs headed to Dallas A call center project is drawing $15 million in foreign investments and creating more than 300 jobs in Dallas. It’s the first major success for the city’s year-old investor visa program, an effort to attract foreign investment for job-creating projects in Dallas. [...]

NPR Profiles EB-5 Program, Jay Peak Resort in Broadcast

In a January 18 report, National Public Radio provides a profile of the EB-5 visa program that is largely positive. Less than a month after a sweeping Reuters exposé that was decidedly suspicious of the program in its current form, this story from NPR is focused on job creation and the growth of the EB-5 [...]

Part 2 of ILW.com EB5 For Experts Phone Seminar – January 13

EB5 For Experts Speakers: Michael Gibson, Robert C. Divine, Robert Gaffney, J. Bennett Grocock, Michael G. Homeier, Elizabeth Hurst, John Patrick Pratt and Sarah von Helfenstein Click to register for this seminar at ILW.com or learn more about the series. SECOND Phone Session on January 13: Securities law: Avoiding Litigation and Rescission With so many [...]

South Dakota EB-5 Visa Project Publishes Update

We haven’t heard much about the Northern Beef Packers (NBP) project since last July when the State of South Dakota allowed the group to forgo obtaining an otherwise required lending license so that construction of its new facility could get off the ground. Although not explicitly stated in the company’s most recent press release (published [...]

“Troubled Development Company” to Use EB-5 Visa Program for California Project

From the SGV Tribune in Southern California: Chinese developer visits El Monte with money in hand by Rebecca Kimitch, Staff Writer EL MONTE – A Chinese developer who has staked a claim in the long-awaited El Monte Transit Village, over objections from city officials, visited El Monte for the first time Monday and handed out [...]

USCIS Answers Questions About The EB5 Visa

What is the EB5 Visa? The Immigrant Investor Program, also known as “EB-5,” was created by Congress in 1990 to stimulate the U.S. economy through job creation and capital investment by immigrant investors by creating a new commercial enterprise or investing in a troubled business. There are 10,000 EB-5 immigrant visas available annually. In 1992 and regularly [...]

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