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EB-5 Immigrant Investor Program and U.S. Permanent Residency

EB-5 Immigrant Investor Program and U.S. Permanent Residency. Francis Fungsang, Esq. December 8, 2013. Pathways to Permanent Residency. Family-Sponsored Immediate Relatives Parents, spouses, children, brothers, sisters. Employer-Sponsored

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EB-5 Immigrant Investor Program and U.S. Permanent Residency

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  1. EB-5 Immigrant Investor Program and U.S. Permanent Residency Francis Fungsang, Esq. December 8, 2013

  2. Pathways to Permanent Residency • Family-Sponsored • Immediate Relatives • Parents, spouses, children, brothers, sisters. • Employer-Sponsored • Advanced Professionals, Professionals & Skilled Workers, Religious Workers, Professors/Researchers • Self-Sponsored • Extraordinary Ability, National Interest Waiver, Investors • Asylum/Cancellation of Removal

  3. EB-5: The Basics • 10,000 green cards available each year • Two Categories of EB-5 Cases: • Direct Investment in private business • Regional Centers • More than 90% of EB-5 cases are through Regional Centers

  4. Direct Investment in Private Business • Minimum Investment: $500,000 vs $1 million • Targeted Employment Area (TEA) • New Commercial Enterprise • Source of Investment Funds • Create 10 full-time U.S. jobs • Managerial Role • Investing in a “troubled business”

  5. Investing in a Regional Center • 400+ designated by U.S. Citizenship and Immigration Services (USCIS) • $500,000 minimum investment (usually) • Source of Investment Funds • No managerial role required

  6. EB-5: Procedure • Form I-526 Investor Petition • Investment • Form I-485 Permanent Residency Application or Immigrant Visa Application • Grant 2-year conditional residence • Spouses & Minor Children may apply • Form I-829 Removal of Conditions • Within 90 days of expiration

  7. Risks of the EB-5 Process and Permanent Residency • Loss of Investment Funds • Inability to hire at least 10 U.S. workers • Aging-Out of Investor’s Children • Abandonment of Permanent Residency • Denial of Removal of Conditions • U.S. taxation of worldwide income

  8. Alternatives to EB-5 Program • Labor Certification (PERM): requires job offer; no qualified U.S. workers are available • Temporary Work Visas: • H-1B: job requires bachelor’s degree minimum • E-1 or E-2: Treaty Traders or Treaty Investors • L-1: Multinational Company Transferees • B-1: Business Visitor: no employment

  9. More Options: EB11, EB12, EB13, NIW • EB11: Aliens of Extraordinary Ability • Sustained national or international acclaim • EB12: Outstanding Professors & Researchers • International recognition & 3+ years experience • EB13: Multinational Executives or Managers • 1+ years experience with overseas entity • NIW: National Interest Waiver • Substantial intrinsic merit; national in scope; serve national interest to greater extent than others

  10. Current Immigration Trends • Green Card backlogs for citizens of China and India • Deferred Action for Childhood Arrivals • I-601A Provisional Unlawful Presence Waiver • Proposed new legislation: border security, pathway to citizenship for undocumented individuals

  11. Questions & Answers

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