A "one-stop" for the latest news, forum, analysis and resources on EB-5 law, Regional Centers and much more, in an easy-to-understand style and format. In short, a "cool" place to get the "straight talk" on EB-5.
Should USCIS care whether there are changes to the EB-5 project after I-526 petition approval?
In December 11, 2009 guidance memo, USCIS states that in case there has been "changes" to the EB-5 project contained in the I-526 petition, Petitioner "may" file a new I-526 petition and then go through another two years of CPR period via another IV or AOS processing.
[HOT] What is right and wrong with the December 11, 2009 Neufeld guidance memo?
On December 11, 2009, USCIS issued a Neufeld guidance memo (the "Memo") some 23 pages long. This section will discuss things that were right/good and wrong/bad about the memo. It is fair to ask from whose perspective? Therefore, we are going to list things that we think were right/good and wrong/bad from the perspective of EB-5 investors.
Things that were right/good about the Memo
[Q] Can I form a "new" commercial enterprise by creating a new corporation to purchase an old, existing biz?
[Q] Potential EB-5 investor client is going to establish a new (2010) corporation. His new corporation plans to purchase a nursing home, which has been in business since the 1970s. Based upon my reading of the relevant case law (Matter of Soffici), it is the age of the nursing home operation in question that is controlling, and not the fact that this new corporation was formed in 2010. It appears that USCIS could argue that this will not be a "new" commercial enterprise because the nursing home was in operation prior to 1990.
We believe that USCIS will rule that this is not the "new" commercial enterprise. We believe there was AAO case law on this. Also, common sense would dictate this conclusion. Therefore, unless there is a requisite "expansion" or "restructuring", no "new" commercial enterprise has been established.
Bad economy & EB-5 projects
We all know bad economy can adversely affect all kinds of industries. However, there are some industry areas that may be more severely affected by bad economy. Therefore, potential EB-5 investors would do well to avoid these types of industries.
[HOT] Requirements for obtaining a regional center designation from USCIS
A recent guidance memo from USCIS dated December 11, 2009 sets forth information on what items are required for a regional center designation application.
[Q] Can a direct individual EB-5 case's new commercial enterprise make loans to businesses and create jobs?
[Q] EB-5 Investors (each with $1 million or more to invest)want to invest with me to form a new direct EB-5 investment company whose business will be to make direct loans to other businesses that will have job creation enough to reach 10 new jobs per investor. Can this new business loan company be structured as a direct investment for the EB-5 Investors?
No, you cannot, because direct, individual EB-5 cases require jobs to be created directly. Jobs that are created by making loans to job-creating business(es) are all indirect and/or induced jobs.
2009/06/12 -- USCIS responses to Ombudsman's March 18, 2009 recommendations
USCIS responses to Ombudsman's March 18, 2009 recommendations posted in its entirety.
2009/03/18 -- Ombudsman Recommendations
Posted below in entirety.
[HOT] Ombudsman Recommendations & USCIS Responses
We thought it would be helpful to upload Ombudsman's recommendations on EB-5 Program and USCIS' responses in chronological order, so that users could see the issues that the Ombudsman's Office thought were important in EB-5 Program and what their recommendations were, as well as USCIS' responses to these recommendations.
