Association To Invest In USA
On May 6th the State of California Governor’s Office of Business and Economic Development (GO-Biz) hosted a teleconference for EB-5 stakeholders regarding new unemployment data for the State of California and its effects on Targeted Employment Areas (TEA’s) policy. During the call, GO-Biz unveiled how 2012 unemployment data within the State of California demonstrates an improving economy, which [...]
IIUSA has received word from our members of many of issues with USCIS regarding North American Industry Classification System (NAICS) codes on I-526, I-829, and I-924 petitions. Furthermore, at a recent public appearance USCIS Senior Counsel to the Director, Rob Silvers, indicated that USCIS is actively reviewing its policy of utilizing NAICS codes in the adjudicate process. [...]
During the mark up of the bipartisan Gang of Eight legislation (S. 744) in the Senate Judiciary Committee this week, Chairman Patrick Leahy (D-VT) introduced an amendment to permanently authorize and improve the EB-5 Program. The amendment pushes for maximizing visa capacity while protecting Program integrity and would potentially put processes in place that should help with the [...]
IIUSA Leadership convened in Miami, FL this week at the American Immigration Lawyers Association (AILA) (Mexico City Chapter) “Show Me the Jobs” Conference. The dinner was attended by U.S. Representative Joseph Garcia (D-FL), who participated in IIUSA discussions on how the industry can break the processing backlog at USCIS, and update leadership on the status [...]
On Wednesday 4/10, IIUSA sent a letter to USCIS Director Alejandro Mayorkas concerning the processing backlog and its detrimental impact on the success of the EB-5 Program. Initially, we estimated that the total number of backlogged petitions was approximately 4,000+. It turns out that was an underestimate of the problem. Further research into the issues brought us [...]
The U.S. Department of Homeland Security’s CIS Ombudsman Office has published its executive summary of the 3/5 EB-5 stakeholder meeting that it hosted in Washington, DC. In her opening remarks, CIS Ombudsman, Maria Odom, stated that the purpose of the meeting was to discuss the challenges in the Program and to propose possible solutions. She also [...]
On Friday April 19, in the U.S. Securities and Exchange Commission’s (SEC) enforcement action against the Intercontinental Regional Center Trust of Chicago (a non-IIUSA member Regional Ceter), et. al., the Honorable Judge Amy St. Eve issued an order modifying the court’s asset freeze order and directing the escrow agent to return escrowed funds directly to [...]
On Wednesday (4/10), IIUSA sent a letter to USCIS Director Alejandro Mayorkas concerning the processing backlog and its detrimental impact to the success of the EB-5 Program. In the letter, IIUSA notified Director Mayorkas of its pool of over 500 WAC#s for backlogged I-526 petitions collected from Regional Center members all over the country, representing over $250 [...]
The bipartisan “Gang of Eight” in the U.S. Senate has filed its much anticipated proposal for comprehensive immigration reform (officially titled: Border Security, Economic Opportunity, and Immigration Modernization Act of 2013). The legislation still has a long way to go, with a series of hearings in the Senate Judiciary Committee (with the first this Friday), the [...]
The globalized world we live in today demands public policy that takes advantage of the fact that economic opportunity, capital, and people are crossing national borders at a record-setting, seemingly ever-increasing rate. “Immigrant investor programs” are an example of this type of policy and exist all around the world, all competing for the same economic [...]
