USCIS created a new controversy in the EB-5 immigrant investor world when it released a memorandum on February 17, 2012, concerning what it calls the “tenant-occupancy” economic methodology. On May 8, 2012, USCIS provided guidance on what deference it would give prior EB-5 adjudications that involved tenant-occupancy issues:
Please click here for the Guidance
U.S. Citizenship and Immigration Services (USCIS) advises the public that Public Law 112-176, signed by the President on Sept. 28, 2012, extends the following USCIS programs until Sept. 30, 2015:
Program Details
On June 22, 2012, USCIS hosted a public engagement featuring two economists who work on the EB-5 Immigrant Investor program. Following that engagement, some stakeholders sought clarification as to certain points raised by the economists. USCIS is now pleased to provide clarification as to two of the primary questions raised.
EB-5 Projects Involving Hotel or Resort Development
Please check the attachment to read "EB-5 Stakeholder Meeting Presentation".
I am currently on H1-B and my I-140 has been approved. Because of the delay in I-485 Processing, I was thinking of doing my green card through the EB-5 Category with a $500,000.00 Investment through a Regional Center or a New Commercial Enterprise.
I had a few questions regarding the following:
For EB-5 through Regional Center
1. What is the time frame for Investing the money? Does it vary per Project?
2. What is the general Return of Investment on these Projects? Does it vary per Project?
3. Can we withdraw the Investment earlier if the Project is a failure?
4. How much involvement is necessary/allowed in the management of the Project?
5. When can I start withdrawing the money after I get my Green Card?
6. Is there any agency/firm that evaluates the Regional Centers?
For EB-5 Immigrant Investor through New Commercial Enterprise
7. Do the 10 people have to employed immediately or over a period of 2 years?
8. If I employ 10 people and put in 500,000.00 in a start up business in a rural area or highly unemployed area towards the income for the employees, is the money counted towards investment?
The “tenant-occupancy” methodology seeks credit for job creation by independent tenant businesses that lease space in buildings developed with EB-5 funding. USCIS continues to recognize that whether it is economically reasonable to attribute such “tenant-occupancy” jobs to the underlying EB-5 commercial real estate project is a fact-specific question. Each case filed will depend on the specific facts presented and the accompanying economic analysis.
USCIS draft policy memo addressing certain foundational issues in the EB-5 Program. This page includes the original draft memo and subsequent revisions.
USCIS draft Policy Memo On EB-5 Adjudications addressing certain foundational issues in the EB-5 program. This draft memo is a work in progress and is not operative until it is published and in final form.
Please check the attachment.
We were retained by a client who was in USA on B-2 status and wished to apply for green card through EB-5 investor/entrepreneur category. We obtained a B-2 extension and simultaneously filed the EB-5 petition. Client was in the process of investing $1 Million in an existing business. $500,000.00 of the investment was in the form of cash (some portion of which was gift money) and for the remaining $500,000.00, a promissory note was executed and secured by foreign personal assets of client.
Mr. Khanna is very focused, and gives very accurate information. He is very flexible and warm person. It was great experience working with him and his staff. I greatly appreciate it!!