Continuing Resolution (RC) Reauthorization to 23/3/2018
On Tuesday February 6th 2018, by a vote of 245-182, the House approved its version of the fifth Continuing Resolution (5th CR), funding government operations and extending government programs, such as EB-5 program, until March 23 2018 . The bill now proceeds to the Senate for further consideration.
It is anticipated that the Senate will maintain overall budget negotiations and vote when consensus is reached. It is further probable that Congress will get to consensus and pass a CR prior to the expiration of the current CR (Feb. 8), thereby avoiding any interruptions of government operations and programs.
The EB-5 immigration visa may be the best immigration program the U.S. has to offer.
The EB-5 Visa program is controlled by the United States Citizenship and Immigration Services department (UCSIS). UCSIS reviews the applications and makes a decisions who gets in. Interviews with US Embassies and Consulates, standard procedure in acquiring any type of US visa, are part of the procedure. Approximately 10,000 visas are issued annually. China accounts for nearly 80% of them.
Foreign investors are putting up a minimum of US$500,000 to renew and rebuild rundown urban areas and create jobs. It's a lawful way in for the kind of immigrant, a fortunate one, that tends to add to the states by bringing in money and jobs. In return, the investor, their spouses and their children under the age of 21 all get a conditional green card. What does it mean to have a “conditional” Green Card?
The EB-5 process first step is for the EB-5 investor to file the I-526 petition. The I-526 petition consists of the investors proof of lawful source of funds and the business plan and economic report showing how the EB-5 funds will be expended and lead to the required job creation. Once the I-526 petition is approved, the EB-5 investor can file an application for conditional permanent residency. Once issued, the conditional permanent residency is approved for two years. At the end of the two-year period, the EB-5 investor will have to file an I-829 petition to show USCIS that the required jobs have been created and the investment funds were sustained. Once the I-829 petition is approved, the EB-5 investor will be issued unconditional permanent residency (a 10-year green card) , this card is renewable .
EB-5 program has economic benefits
(EB-5) program has economic benefits that doesn’t end at the five hundred thousand dollars they must invest to participate . It's just the inauguration of a more major investment that will be made by these families when the come to US . Also , th(EB-5) has become a way for developers to lure foreign capital at low , project finance-style structured interest rates because the people giving the money are getting a prize: the right to live, work and study in the United States.
If you are considering immigration through the U.S. EB-5 Immigrant Investor Program, contact our office today to discuss your options with one of our immigration specialists.
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