New EB-5 Program Office to be Established in Washington, DC

(By Douglas Hauer on December 3rd, 2012/Mintz Immigration Law)

During today’s EB-5 Stakeholder’s Meeting, USCIS announced the creation of a new EB-5 Program Office in Washington, DC. The Chief of the new EB-5 Program Office will report to the Deputy Director of USCIS. This is a significant realignment, which USCIS intends to accomplish within four to six months. According to USCIS, this reallocation of resources is targeted at ensuring that the Program Office addresses adjudications more effectively. The new EB-5 Program Office will handle adjudications, legislative affairs and policy, in addition to having full-time staff devoted to identifying fraud. One goal of the new EB-5 Program Office will be to move from the current RFE (“request for evidence”) model to a more dynamic email approach, where adjudicators handle complex communications directly with the public. Direct communication with decision-makers might result in fewer denials and RFEs over issues that could be resolved through the EB-5 Program Office communicating with an attorney.

Currently, USCIS adjudicates EB-5 petitions and benefits at the California Service Center. Processing times for benefits are very unpredictable. This leaves investors insecurely waiting, at times for more than six months, for resolution of their cases. Hopefully a new EB-5 Program Office will allow USCIS to accomplish the goal of a more efficacious and fair adjudications process. Until USCIS announces a change to filing procedures, the status quo is in place and all filings should continue to be channeled to the California Service Center. With the new EB-5 Program Office, USCIS will have an ambitious goal of adjudicating EB-5 benefits in 90-120 days.

USCIS EB-5 Engagement on December 3, 2012

(Source: USCIS)

 "Dear Stakeholder,

U.S. Citizenship and Immigration Services (USCIS) invites interested parties to participate in a conversation with USCIS Director Alejandro Mayorkas regarding the EB-5 Immigrant Investor Program on Monday, December 3, 2012 from 2:00 p.m. to 4:00 p.m. (Eastern). During the engagement, Director Mayorkas will discuss EB-5 policy and procedural issues and take questions from participants.  

To Participate in the Session:
You may attend this engagement either in person or by teleconference. However, those attending via phone will be in listen-only mode. If you wish to attend in person, attendance is limited to the first 100 people who register. To register, please email the Public Engagement Division no later than Friday, November 30, 2012 at Public.Engagement@uscis.dhs.gov.

If you plan to attend in person, please reference “EB-5 Conversation – In Person”
If you plan to attend by phone, please reference “EB-5 Conversation – Phone”

To Join the Session:
Following registration, we will confirm your attendance in person or by telephone. If you are attending in person, please be sure to bring photo identification and arrive at least 15 minutes early to allow extra time to complete the security process. If you are attending by phone, please use the information below to join the session.

Call-in Number: 1-888-324-8192
Passcode: EB5

 
Kind Regards,
U.S. Citizenship and Immigration Services" 

- USCIS, Nov. 19, 2012.

Banks Pummeled by Low Rates

 

An article in the Wall Street Journal dated October 23, 2012 stated that due to the current “superlow” interest rates in the United States, the Banking Industry is experiencing its lowest net profit margin in three years.  

The eroded net profit margin (which tracks how much banks earn on funds borrowed from depositors which are in turn lent or invested) has caused sliding lending profits, causing banks to close branches, weigh additional fees and roll back customer favorites, such as free checking.  The average margin for the industry’s largest banks is at 3.12%, the lowest since 2Q 2009.  

Over time, these downsized profits are likely to accelerate a downsizing process that has halved the number of insured institutions over the past two decades.  The spread between banks’ deposits and lending rates has narrowed in part because of low Federal Reserve-influenced rates and decreased demand for loans amid the soft economic growth.  As their higher-yielding loans mature, banks are being forced to replace them with assets that carry much lower rates.  If interest rates begin to rise, these new loans may prove to be unprofitable. 

Higher costs for banking services could push more people out of the financial system altogether, adding to the millions of customers already considered as lacking access to affordable financial services.

Webinar from IIUSA regarding Regional Centers 2012 Annual Reporting (Form I-924A)

(Source: IIUSA) Regional Centers don't forget to get your I-924A completed and submitted to USCIS by December 29, 2012. Join IIUSA on 11/9 for a webinar regarding Regional Centers 2012 Annual Reporting (Form I-924A).

SIGN UP HERE -  http://iiusablog.org/events/iiusa-host-119-webinar-regional-centers-2012-annual-reporting-form-i924a/

Wealthy Chinese seeking overseas residency - EB-5 Immigration Investor Visa Program

(Source: BBC News) Great article from BBC News  that discusses issues on why wealthy foreigners are wanting out of their country, mainly the Chinese. The EB-5 visa program is an investment-for-residency program, handing out green cards as long as the investment can be shown to have created at least 10 jobs. In 2006 Chinese nationals were granted just 63 visas under the scheme. Last year the figure had leapt to more than 2,408 and this year it is already above the 3,700 mark. It means a tidal wave of Chinese money is currently pouring into US infrastructure projects. The investor program is open to any nationality but Chinese investors now make up 75% of the total.


Read BBC Article here : http://www.bbc.co.uk/news/world-asia-china-18966261

President Obama Signs Extension of EB-5 Immigration Investor Program

(Source: The White House)  On September 28, 2012 President Obama signed S.3245, a bill which extends to September 30, 2015 the authorization of the EB-5 Regional Center Program, the E-Verify Program, the Special Immigrant Non-minister Religious Worker Program, and the Conrad State 30 J-1 Visa Waiver Program for the next three years.

See statement here - September 28, 2012, the President signed into law

China Weekly Hangout: Why are the Chinese leaving their home country?

(Source:  The China Speakers Bureau - China Herald, Thanks to EB5 News Blog for sharing)  

Watch this 50-minute panel discussion video produced by Mr. Fons Tuinstra of the China Speaker Bureau.  It is very good insights on the reasons that Chinese are leaving their home country. Why are they going to the US and other countries? New trends in emigrations from China to the US by panelists Mr. Isaac Mao, Ms. Meixian Li and Mr. Richard Brubaker, who expects the number of Chinese leaving will be in the years to come give or take 20 million.

US House passes three year extension of EB-5 regional center program

On September 13, 2012, the U.S. House of Representatives passed S. 3245 (412-3) – which includes a three year re-authorization of the EB-5 Regional Center Program through September 2015.  Having passed by the Senate on August 2, the bill is now on its way to President Obama for signature – likely later this week.  Judiciary Committee Chair Lamar Smith (R-TX), Immigration Subcommittee Ranking Member Zoe Lofgren (D-CA), Representative Rick Larsen (D-WA), and Representative Peter Welch (D-VT) all spoke in favor of the EB-5 Regional Center Program re-authorization.

Visas-for-Dollars Program a Boon to Hotel Developers

New York Times published on September 6, 2012 a news article titled "Visas-for-Dollars Program a Boon to Hotel Developers" written by Janet Morrissey. In the past few years and current more hotel developers have successfully utilized EB-5 regional center program to raise funds for their projects throughout the United States. A main point in the article is that most foreigners who want to be involved with the EB-5 program are more concerned of receiving their permanent visa, than a high rate of return on their investment. 

See full article at  NEW YORK TIMES

For more information on EB-5 financing for development projects or for investment inquires,

CONTACT US TODAY!

2815 Monroe Avenue, Suite 2100

Rochester, New York 14618

Tel: (866) 763-6515

                                    EMAIL HERE or WEBSITE HERE

Guidance on EB-5 Adjudications Involving the Tenant-Occupancy Methodology.

This is an issue that will be brought up time and time again. USCIS released this back in May 2012, but it is still very valuable information. Please take a further read by clicking on the link that is provided below.

Read more here - USCIS Tenant-Occupancy Methodology

New York State Thruway I-90 proposed 45% increase in tolls?

NYS Thruway I-90

A projected 45% increase in tolls (mainly to big trucks) being criticized. This is HUGE news for the transportation industry in New York State. The increase will cause the usage of alternative routes, such as RT-104, I-390, I-81 and I-86 (which is the current location for the Rock Hill Town Center off exit 109 on I-86 located in Rock Hill, NY that will be developed in the near future). Change is not always negative, we should look at it from the positive side. The businesses off such routes could gain sufficient volume and sales. While development projects would be on the rise for the demand in goods and services for the local communities and new visitors. Read the more below regarding this developing issue.


Read more here - THRUWAY TOLL INCREASE STORY

USCIS: New Online Resource Provides Immigration Information in Up to 22 Different Languages

The USCIS released on July 26, 2012 that it has launched its online Multilingual Resource Center, a new feature on www.uscis.gov. With the new system in place it not only helps immigrants gathering and reviewing information, but the USCIS wants ensure that it communicates across many cultures and reaches a broader audience, while also ensuring that customers obtain information directly from USCIS, and not from unofficial - and possibly unscrupulous - sources.

READ ORIGINAL ARTICLE HERE

Director Mayorkas points out the importance of the new system in the article "Our Multilingual Resource Center is our most recent step in increasing customer access to important and accurate immigration information," said Director Alejandro Mayorkas. "By providing immigration information to our customers in their native languages, we improve our customers’ experience and enhance their ability to navigate our nation’s legal immigration system."   

READ ORIGINAL ARTICLE HERE

 

 

Concord Resort and Casino - A new approach. A new opportunity.

This site sits directly off of Interstate 86 Exit 106 and is less than4 miles from Rock Hill Town Center.  This project is a joint venture of Empire Resorts, Inc., which is controlled by the Genting Group of Malaysia, and Entertainment Property Trust, which is a $2.9 billion real estate investment trust.  Genting Group is one of the largest conglomerates in Asia with holdings in excess of $40 billion.  It is also one of the top gaming and casino operators in Asia (Resorts World) and was the original financial backer of Foxwoods Casino in Connecticut.  Together, Empire Resorts and Entertainment Property Trust have already invested in excess of $300,000,000 in Sullivan County, where the Rock Hill Town Center is located.  The Concord project will create in excess of 2000 immediate construction jobs and over 1500 permanent jobs.

Keep up to date on fresh news and changing developments here -

http://newcatskillsdestination.com/vision.html

  To learn about the exciting investing opportunity for Rock Hill Town Center:

Contact Us-
Tel: (866) 763-6515 

or

ROCK HILL WEBSITE or  EMAIL ROCK HILL

USCIS announces new EB-5 Stakeholder Engagement in 2012

USCIS will host a stakeholder engagement, that can b attended in person or by teleconference, on October 16, 2012, between 3:00 PM and 5:00 PM EST. The main focus of the engagement will be a general EB-5 discussion.

The location of the engagement is the Tomich Center - 111 Massachusetts Avenue, Washington DC 20259.


Stakeholders can submit agenda items until September 17, 2012 by email to the USCIS Public Engagement Division - public.engagement@uscis.dhs.gov


For more information, GO HERE

EB5 Visas Issued as of June 2012

Chief of Visa Control at the State Department, provided the FY2012 Employment-Based Fifth preference (EB-5) issuance totals for the top five countries (89%), for the period October through June. 4,813 EB-5Visas have been issued up to date with top 5 countries as follows: China, Korea, Taiwan, Venezuela, Iran. 77% EB-5 visas have been issued to Chinese nationals from the Mainland China. He expects that the FY2012 EB-5 visausage will be approximately 6,200. 

WARNING: New Telephone Immigration Scam

Read the warning below outlining the new scam that is taking place inside the EB-5 community.

(Source: Robert A. Kravitz, Esq. Law Offices of Kravitz & Guerra P.A., posted 7/20/2012)

 

The Law Offices of Kravitz & Guerra, PA has received reports of a new telephone scam potentially victimizing foreign national clients.

According to one of several such reports, the foreign national will receive a call purporting to be from a USCIS (Immigration Service) officer, who will have certain correct information about the individual, including the individual's name and address.

The caller will state that there is some discrepancy in USCIS records, and ask for confirmation of data, such as an I-94 number, an "A" number, or a visa control number. The caller will then tell the individual that there is a penalty or payment due for clearing up the discrepancy, and that the individual is to send a sum of money via Western Union, to an address the caller provides.

Be aware that you may be receiving such calls. If you do, you may wish to report them to appropriate law enforcement authorities, such as the FBI, and to the Federal Trade Commission's Bureau of Consumer Protection, whose Consumer Sentinel database is accessed by criminal and civil law enforcement authorities worldwide.

Please understand that USCIS rarely -- if ever -- calls "customers" directly. If you receive what you believe is a real call from a USCIS employee, politely ask them to call your Immigration Lawyer. If it is a scam, we will know. If not, we are always in the best position to answer any immigration-related question for you! 

Message from Robert A. Kravitz, Esq.

Law Offices of Kravitz & Guerra P.A.

About Robert A. Kravitz, Esq.,

USCIS Director Mayorkas Announces the Creation of a New EB5 Office

USCIS Director Alejandro Mayorkas has announced today the formation of a new office specifically designed to address and oversee issues related to the EB-5 Immigrant Investor Visa program. Below is his announcement:

To view announcement in .PDF form, go here - New EB-5 Program Office - Message from Director

Dear Stakeholder,

I am pleased to announce that U.S. Citizenship and Immigration Services (USCIS) will be creating a new office to oversee our administration of the EB-5 Immigrant Investor program.

The EB-5 program has spurred the creation of tens of thousands of new jobs and the injection of billions of dollars into the U.S. economy since Congress created the program in 1990. Interest in the EB-5 program has grown exponentially in recent years, both from domestic project developers seeking capital and foreign investors who have the capital that can fuel economic growth. USCIS has met this unprecedented growth and interest with a corresponding dedication of resources. USCIS has approved more than 3,100 Form I-526 petitions in Fiscal Year 2012 to date, more than triple the number approved in all of Fiscal Year 2009.

Since 2009, we have quadrupled the size of the EB-5 adjudications team and brought on board eight expert economists dedicated to the EB-5 program to ensure that EB-5 cases are handled expeditiously and with appropriate expertise. In the next month, two full-time attorneys with substantial transactional experience will enter on duty as new additions to the USCIS EB-5 program team. And by the end of July, a special Review Board consisting of two Supervisory Immigration Services Officers and one economist will review every pending application for regional center designation for which a denial has been recommended, with applicants receiving the opportunity to discuss their cases in-person before any final adverse decision is rendered.

By now creating a dedicated program office, we will build on these steps toward ensuring that this important and complex program is appropriately resourced and managed under a single leadership structure.  

I am also excited to announce that the new office will be led by a new Chief of Immigrant Investor Programs, and that an advertisement for this new leadership position will be posting today. Our new program chief will have significant experience in the business world and will assume responsibility for ensuring that the program is administered efficiently, with integrity, with predictability, and with an understanding of today’s business realities.

We understand that more work needs to be done to further improve our administration of the EB-5 program. We are committed to this work. USCIS welcomes and appreciates your input as we stand up our new EB-5 Program Office.

Thank you.
 
Alejandro N. Mayorkas
Director
U.S. Citizenship and Immigration Services

Stewart International Airport - Growth and Expansion

The Stewart International Airport is located approximately 60 miles (100km) north of New York City and less than 45 minutes from the Rock Hill Town Center site. The airport can give great support and travel accommodations for the Rock Hill Town Center visitors. The NY/NJ Port Authority has engaged in a 500 million dollar plan to overhaul the entire airport. 

The plan includes major renovations, the addition of a new terminal, and further expanding the cargo facilities.  FedEx maintains a large distribution center near the airport and the USDA has an inspection facility that processes the products of importers.  The Port Authority intends on utilizing the Stewart InternationalAirport as a relief airport for the three main New York area airports (Newark, LaGuardia, and JFK).  They estimate that they can currently handle five times its present passenger volume.  The Port Authority plans to invest approximately $500 million through 2016 to upgrade and expand the airport.

Check this short video for the Stewart International Airport - 

 

MORE INFORMATION: Rock Hill Regional Center Contact

Sullivan County Diagnostic Center (“Center for Discovery”) - Inspiration for All

The Center for Discovery  located in Harris, Sullivan County, NY is remarkable for its more than 60 years of service to children and adults with severe disabilities. The Center for Discovery is an institution that offers individuals with a range of disabilities and medical frailties - and their families -innovative educational, clinical, residential and social and creative arts experiences designed to enrich their lives through personal accomplishment. The Center features universally designed facilities specifically built to meet the physical, intellectual, emotional, social, and creative needs of children and adults it serves. They currently employee over 1,400 individuals and expect to add another 1000 new jobs over the course of the next 3 years with multiple projects such as a High-Risk Assessment Clinic. The Center for Discovery responsible for $184 million in economic impact, including more than $134 million in Sullivan County. The Rock Hill Town Center is within a 10 mile radius of the Center.

The video below is an uplifting story that is one of many that makes the Center for Discovery such a special place. Patrick Dollard talks about the Center for Discovery and how the organization uses food and farming to benefit individuals with a broad range of disabilities. 

(Video courtesy of Sundance Channel: Grain of Change Series)

MORE INFORMATION: Rock Hill Regional Center Contact

What are the benefits of an EB5 Green Card?

 To learn about the exciting investing opportunity for Rock Hill Town Center:

Contact Us-
Tel: (866) 763-6515 

or

ROCK HILL WEBSITE or  EMAIL ROCK HILL

 

 

Every individual desires a permanent residence in the US for a different reason. A Green Card with the EB-5 Investor program provides many benefits that accomplishes these goals:

• Legal permanent residents under the EB-5 Investor Program enjoy many of the same benefits as United States citizens.
  
• The U.S. is a safe harbor for your family, as well as your personal and business investments.
• Any member of a family with an EB5 Green Card can enter the U.S. at any time and stay as long as he/she wishes.
  
• Investors have constant and easy access to the United States for personal, trade and business purposes.
  
• Permanent residents travel to the U.S. without the need of a Visa.
• Investors may work, live or own their own proprietary business anywhere in the United States.
  
• The U.S. has internationally recognized colleges and universities for basic education and graduate study. As a resident, the immigrant investor can benefit from lower college tuition costs, as well.
  
• The cost of living in the U.S. is lower than most large industrial nations. Consumer goods, services and housing are significantly less expensive than comparable services and goods in most other countries.
  
• Students may work in the U.S. while they attend college and continue to work thereafter. This enables the student to pay part of their education while completing graduate and postgraduate studies.
  
• The U.S. provides many financial, social and education entitlements: public schools, health and medical attention, social security and higher education.
  
• The immigration investor has the ability to bring other family members to the United States after proper applications and can obtain U.S. citizenship after 5 years.
• Permanent residency requires no renewal or re-application, except for a processing fee.

 To learn about the exciting investing opportunity for Rock Hill Town Center:

Contact Us-
Tel: (866) 763-6515 

or

ROCK HILL WEBSITE or  EMAIL ROCK HILL

 

 

NYS DOT I-86 Highway Project and Rock Hill Town Center

Empire State EB5 (Rock Hill Regional Center) recently met with Artisan Business Group and the Rock Hill Town Center (RHTC) project developers at the Rock Hill Town Center future site in Rock Hill, NY. We walked the location with all accompanying parties, great discussions, and determined our next plan of action. The Rock Hill Town Center is a ground up development project funded with EB-5 investment through the Rock Hill Regional Center. Located in Rock Hill, NY, Sullivan County, this will be the largest project of its kind ever in the area. The area is seeing dramatic economic growth and foresees more growth and demand to increase in the surrounding areas.  One major point to note is the huge highway construction project that is happening as we speak. NYS DOT (New York State Department of Transportation) is spending over $100 million dollars to improve the  I-86 project as well as exit 107 - 109 at Rock Hill.

Here are a few highlights of the highway conversion of Route17 and Interstate 86 in Sullivan County, New York.

1. On the drawing board for almost 20 years, NYS DOT has ramped up construction due to site development and other county drivers.
2. Interstate 86 will be elevated over 60 feet near the base of RHTC site
3. A dangerous curve is being removed to improve the flow traffic
4. The interchange will revamp Rock Hill Town Center site visibility and awareness.

More information on RT 17/I-86 project visit - NYS DOT WEBSITE HERE

For more Rock Hill information & pictures visit - ROCK HILL REGIONAL CENTER HERE