The U.S. Securities and Exchange Commission’s Office of Investor Education and Advocacy and U.S. Citizenship and Immigration Services are jointly issuing this Investor Alert to warn individual investors about fraudulent investment scams that exploit the Immigrant Investor Program, also known as “EB-5.”
Each month, the Visa Office subdivides the annual preference and foreign state limitations specified by the INA into monthly allotments based on totals of documentarily qualified immigrant visa applicants reported at consular posts and CIS Offices, grouped by foreign state chargeability, preference category, and priority date. If there are sufficient numbers in a particular category to satisfy all reported documentarily qualified demand, the category is considered "Current." For example: If the monthly allocation target is 3,000 and there is only demand for 1,000 ap
USCIS releases guidance memo on EB-5 cases involving Tenant-Occupancy.
Please check the attached guidance memo for detail information.
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".
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.