» USCIS Publishes List of Terminated EB-5 Regional Centers

USCIS Publishes List of Terminated EB-5 Regional Centers

Dallas immigration lawyers

Dallas immigration lawyers - Rabinowitz & Rabinowitz, P.C.

Dallas, TX (Law Firm Newswire) July 17, 2017 – U.S. Citizenship and Immigration Services (USCIS) published a list of 116 EB-5 Regional Centers that have had their participation in the Immigrant Investor Program terminated. As of June 5, 2017, there were 859 Regional Centers approved by USCIS.

The EB-5 Immigrant Investor Visa Program provides a path to permanent residence for certain eligible immigrant investors. To be eligible, immigrant investors must invest $1 million or more in a U.S. business that will eventually employ 10 or more American workers, directly or indirectly. The investment threshold is lowered to $500,000 if the immigrant invests in one of several Targeted Employment Areas, which are rural areas or areas with high unemployment. Applicants may invest directly, or they may pool their funds to invest in Regional Centers, which are third-party intermediaries. Regional Centers are entities that have been approved by USCIS to create projects for EB-5 investors.

“When 80+ percent of EB-5 Regional Center petitioners are from the People Republic of China, and there is a multi-year wait for a visa number before such persons are eligible to immigrate to the United States, together with a multi-year wait for USCIS EB-5 case adjudication, it stands to reason that these delays will lower interest levels in the EB-5 program in China,” said Stewart Rabinowitz, a Dallas, Texas and Frisco, Texas immigration attorney with the firm of Rabinowitz & Rabinowitz, P.C. “With lower demand comes increasing regional center inactivity resulting in a shrinking in the number of regional centers.”

The EB-5 program has emerged as an important source of funding for many major development projects, including hotels, restaurants, resorts, casinos, stadiums and multi-use developments. In 2015 and 2016, the Securities and Exchange Commission brought enforcement actions against several EB-5 projects for misusing investors’ funds. The Immigrant Investor Visa Program was renewed on May 5, 2017 by President Trump and is currently extended through September 30, 2017.

By Appointment Only
Three Galleria Tower
13155 Noel Road, Suite 900
Dallas, TX 75240
http://www.rabinowitzrabinowitz.com

  • District Court Issues Nationwide Injunction Against USCIS’ Unlawful Presence Memo Affecting F, J and M Nonimmigrants
    A federal district court judge issued a nationwide preliminary injunction that temporarily blocks the U.S. Department of Homeland Security (DHS) from implementing a policy under which F, J and M nonimmigrants and their dependents who violate the terms of their status start to accrue unlawful presence immediately.  The order was issued in the U.S. District ...
  • Changes to USCIS Processing of Removing Conditions on Residence
    The U.S. Citizenship and Immigration Services (USCIS) has published a policy memo that provides revised interview guidelines to immigration officers adjudicating Petitions to Remove Conditions on Residence. As background, certain family or investment based immigrants who have a condition attached to their permanent resident status must file a petition with USCIS within a 90 days ...
  • DHS Issues Fraud Alert for Imposters Posing as U.S. Immigration Agents
    The Office of Inspector General (OIG) under the U.S. Department of Homeland Security (DHS) is warning people of a nationwide telephone spoofing scam that attempts to trick victims into divulging their personal information, leaving them vulnerable to identity theft. On March 1, 2019, the OIG issued a notice in response to reports of DHS phone ...

See other news sources publishing this article. BETA |



Get headlines from Law Firm Newswire sent right to your inbox.

* indicates required