Now more than ever, prospective immigrant investors looking to obtain a green card through the EB-5 Visa Program should speak to an experienced EB-5 attorney. The current EB-5 Visa Program allows a foreign national to obtain a U.S. green card through a $1,000,000 investment into a US business. The EB-5 investment must create 10 full-time jobs for qualified citizens and residents. An EB-5 investor can also choose a reduced investment of $500,000 in a Regional Center project, or a direct EB-5 project located in a TEA. Both options allow the investor to procure a green card. In approximately 4 months, the EB-5 Regional Center Program ($500,000 EB-5 investment), is due to end. While it’s more than likely Congress will renew the program, there is serious discussion that the US Congress will increase the investment amount. Currently, a Direct EB-5 investment and a Regional Center investment can be reduced to $500,000 if the EB-5 project is located in a Targeted Employment Area (TEA). DC politicians have discussed plans to increase the TEA / Regional Center investment amount to $800,000. This nearly doubles the current TEA investment amount of only a half-a-million. Presidential hopeful, Jeb Bush, has even called for the dismantling of the Regional Center / TEA EB-5 option all together. If that were to happen, all investors would need to make a direct $1,000,000 EB-5 investment to qualify for the program. While increasing the investment amount to $800,000 isn't set-in-stone at this point, there is strong support among members of congress to raise the EB-5 investment to at least $800,000. Potential immigrant investors should contact our office to get started on their EB-5 investment today - before any increase in investment amount. Though the EB-5 visa is here to stay, the reduced investment has an uncertain future. To learn more about the EB-5 Visa Program and how our EB-5 lawyers can assist your EB-5 investment, please visit our dedicated EB-5 website at www.eb5investmentlaw.com.
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H-1B season is upon us, and it’s that time of the year when employers looking to hire a foreign national should consider contacting an immigration attorney to begin the application. Last year’s cap season began on April 1, 2013 and was met only days later on April 5. USCIS received nearly 125,000 applications, of which there were only 65,000 spots under the general H-1B category, and 20,000 under the advanced degree exemption. What do these numbers mean for employers? If you want to ensure the best opportunity for your employee to receive an H-1B visa, your attorney must file the application with USCIS on the first of April. It’s important to start the process early (no later than mid February) to allow yourself adequate time for the application. The process may be best broken down into three stages. The first stage is to submit a Labor Conditions Application (LCA) to the Department of Labor. Following the LCA you begin the process of gathering all the required documentation and supporting evidence. Finally, the proper form(s), along with the relevant evidence are sent to USCIS in a filing package. As the number of applicants in the past far exceed the number of available visas, it’s extremely crucial that the filing package is in order, and all evidence accounted for. If your application is incomplete it will be returned, and your priority date will be lost. For more information on the H-1B Visa application, please feel free to contact our office. The Information contained in this blog is for information purposes only, and should not be considered legal advice for any individual case or situation. The information provided is not a substitute for consultation with an attorney. No attorney/client relationship is created by the information contained herein. Conditional Green Card Through EB-5: Your Rights and Responsibilities as a Permanent Resident14/1/2014 The wait is over, and you have finally received your US Permanent Resident Card (“Green Card”) through the EB-5 program. What happens now? Chances are you’ve spent countless hours researching the EB-5 visa, regional centers, projects, attorneys etc. However, do you know what your rights, obligations, and responsibilities are as a newly arrived Permanent Resident? Firstly, an approved EB-5 visa entitles you to a two-year conditional Green Card. A conditional Green Card is exactly what it sounds like. There are certain conditions that must be met before you receive a “full-fledged” and renewable Permanent Resident Card. At the conclusion of two-years, you will need to have an attorney file for you, form I-829, Removal of Conditions. Provided you show that your EB-5 investment has created the requisite number of jobs among other factors, you will be issued a Permanent Resident Card, valid for ten years. In the future, you need only apply for renewal of your card before it expires. As a legal permanent resident, you are entitled to many of the same privileges as United States citizens. You may live, work, or travel anywhere in the United States. You and your children can attend school and qualify for in-state tuition breaks. However, you may not vote in elections, or make any false claims of US citizenship. One question many immigration attorneys receive is, whether legal permanent residents can spend a significant amount of time outside the US. The goal of permanent residency is just that – to be a permanent resident of the United States. Any prolonged period outside of the country may be seen as abandonment of your permanent resident status. It is important you remember to make the United States your permanent home. After maintaining permanent residency for a period of five years, you may be eligible to apply for US citizenship. Benefits of US citizenship include, the right to vote, obtain a federal job, sponsor family members for residency, and travel with a US passport. For more information on the EB-5 visa program, or any other US immigration matters, please contact our office. The Information contained in this blog is for information purposes only, and should not be considered legal advice for any individual case or situation. The information provided is not a substitute for consultation with an attorney. No attorney/client relationship is created by the information contained herein. |
AuthorKyle J. Barella Archives
October 2023
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