Oliv Pit

Processing times are delayed: Plan Ahead

Processing time for Naturalization and Adjustment of Status Applications have doubled or nearly tripled in some USCIS Field Offices.  Please be sure to plan accordingly when applying for such immigration benefits.  

Working with Chinese EB-5 Visa Investors:

Working with Chinese EB-5 Visa Investors:

Since I began my work in the EB-5 Visa industry, I have mainly worked with Eastern European and Latin American investors.  Recently, I had the opportunity to assist and investor from mainland China.  This proved to be a real learning experience. 

Thankfully the Regional Center that we worked with has a full staff of professionals who speak fluent Mandarin, so the language barrier was not an issue.  That was a bright spot in this case.  The source of funds for the investment came from the sale or real estate in Hong Kong.  The sale took place rather recently, so we did not encounter any issues in regard to purchase and sale contracts and or funds switching hands. 

The fun started when we had to show the origin of the source of funds which were used to purchase the recently sold property.  Not surprisingly, the property was purchased as a result of the sale of a previous property.  The transition took place in 2009.  Further, the Regional Center requested that we show how property # 2 was acquired.  Drum roll: It was yet the sale of another property in 2004. 

One thing about real estate transactions in mainland China from the early to mid-2000s is that there are very few documents to support them.  Cash was and mainly is still king in that part of the world.  

Also, if a bank was used to facilitate the transaction, there is a large chance that the bank is no longer operating and all documentation is gone and no longer available to evidence the transaction. 

Luckily for this case, the investor did keep good records and was able to present the sale and purchase contracts or all three transactions.  These documents were not easy to come by, but in the end were presented to USCIS for review.  In China the sales contract is also the evidence of tax payment on a property, which in this case satisfied another requirement for USCIS. 

Next came the transfer of funds.  By law in China, only $50k USD may be transferred out of the country in a single year.  Thus, an EB-5 investor must split up the $500k USD between friends and family who then make the transfers individually to the investors Regional Center of choice.  I was amazed by the level or resistance from the Chinese banking authorities when it came to this part of the process.  It took several weeks and multiple attempts from various friends and family members of the investor to complete the numerous wire transfers. 

In the end, the biggest thing I learned about working with Chinese investors is to be ready to expect the unexpected and be prepared to quickly find solutions. I look forward to the next challenge! 

eb5investgreencard.com  

What’s Next For EB-5 Visa?

What’s Next For EB-5 Visa?

It is no surprise that the EB-5 Visa industry has been seeing some major changes in the past year.  Increased processing times, and restrictions on the number of Chinese investors are just some of the few hot topics in the space today.  But what does the future hold for EB-5? 

With the sunset of the EB-5 program quickly approaching at in the 4^th quarter of 2015, potential investors should take notice of a few looming changes.  If the visa is extended for another three years or is made permanent by Congress, it is likely that we will see an increase in the investment amount.  There are rumors that the investment will go up to anywhere from $800,000 USD to $1M USD.  However, those who invest prior to the change in policy, will enjoy the limited $500,000. 

It is no surprise that the U.S. may make it more expensive to immigrate to the land of opportunity.  After all, the equities markets prove to be the strongest, there are no bombs falling from the sky, and the employment rate keeps climbing.  Another thing to consider is that, when compared to some of the other developed countries who offer investment immigration programs, the U.S. seems to be the cheapest. 

Another development to be aware of is the number of applicants who are flocking to the EB-5 Visa program.  Rumor has it that the visa will be oversubscribed by middle of the year.  Believe this or not, the closure of the Canadian program and now the closure of the Hong Kong program are driving large numbers of investors towards EB-5. The Chinese dominate the industry and will more than likely be affected by the lack of visas available.

Some leaders in the industry are also on a crusade to bring the EB-5 Visa back to its intended roots. With the mega projects hoarding the majority of the slots, it is becoming difficult for small business owners and innovators to take advantage of the competitive EB-5 marketplace.  Perhaps we may see some proposed changes in the allocation of the visas to smaller and more innovative operators?

With all the changes coming, one thing is for sure: The industry is changing rapidly but still growing at a tremendous pace. 

If you would like to know more, please visit my website http://eb5investgreencard.com/ 

Making the EB-5 Wire Transfer from Russian to the U.S.: What Every Russian EB-5 Investor Needs to Know Бизнес виза в США EB-5 юристы eb5 в москве

One of the main questions on the minds of all Russian EB-5 Investors is how am I going to get my money out of the country?  With the tight grip on currency control and out of the country wire transfers, it is sometimes difficult for the average investor to believe that a signed subscription agreement, in English, is all that is needed to effectuate the transaction. 

Russian banks and central currency control have become familiar with the EB-5 visa and are allowing swift and painless transfers to take place from Russia to the U.S.  Of course, having an invoice issued by the Regional Center with all pertinent wire transfer instructions is also helpful. 

Prior to making the transfer, the Russian EB-5 investor should always notify the Regional Center of the in-coming wire so as to avoid any issues on the U.S. bank recipient side.  At times, the sending bank in Russia may ask the investor to prove that the funds which are being wired for the purposes of making the EB-5 investment are lawful and all appropriate Russian taxes have been paid. My advice is to come to your bank branch with the signed retainer agreement, and invoice from the EB-5 Regional Center, and evidence that the appropriate taxes have been pain on the funds which are being transferred.  Having all three (3) will save you time and money. 

As Russian investors know, the Ruble has become so volatile at times that making the conversion from Rubles to U.S. dollars on day A may be $15,000-$20,000kUSD more expensive, then on day B.  In other words, if the investor’s lawful EB-5 funds are currently in Rubles, converting the funds to US Dollars for the purposes of making the EB-5 investment, should take place when the exchange rate is more favorable. 

In the last month I have first-hand witnessed an investor from Russia who had to postpone his investment due to the rapid volatility of the Ruble.  It is unfortunate that people who have worked so hard for their money are now being prevented from making an EB-5 investment due to economic factors which they cannot control.   

For more information on the lawful source of funds and the wire transfer procedures, please visit my website at http://eb5investgreencard.com/eb-5-for-investors/  and http://eb5investgreencard.com/ru/eb-5-for-investors/

EB-5 Visa Must not be Affected by the Crisis in Ukraine юридические услуги для инвесторов

Just as many people around the world, I have been glued to the television in search for the latest updates on the political crisis unfolding in Ukraine.  Regardless on which side of the conflict one may stand, I think we can all agree that having a viable immigration exit strategy was and remains a must for the citizens of Ukraine and the Russian Federation.  The EB-5 visa provides this exit strategy.

Unlike some of my colleagues, I happen to think that the crisis in Ukraine will not negatively affect the adjudication of currently pending or future I-526 and I-829 petitions.  Now more than ever, should the U.S. welcome immigration-based foreign investment in to the Country.  Of course, the USCIS must maintain the integrity of the legal source of the funds.  But, should make it know to potential EB-5 Investors from Russia and the Ukraine that they are still welcome to apply for their conditional residency (Green Cards) through the use of the investor visa. 

I am not by any means making the argument that funds associated with those companies and individuals that are caught in the middle of the conflict should pass muster with the USCIS.  I am merely stating that hard working, motivated, well to do, and honest investors from Russia and the Ukraine must not be affected in an adverse way. 

The EB-5 visa industry as a whole is experiencing record growth.  Regional Centers new and old are constantly coming up with creative ways to make the program more safe and stable for the investors from the standpoint of job creation and return of the funds.  The economic and job creation impact that the EB-5 visa program has had is undeniable. 

It would be a shame to put an end to this momentum or lose international/regional confidence in the program. 

For more information on the EB-5 visa program and the investment process please visit my website http://eb5investgreencard.com/

Кризис в Украине не должен повлиять на EB-5 визу

Как и многие люди по всему миру, я был прикован к телевизору в поиске последних новостей о политическом кризисе, разворачивающемся в Украине. Независимо от того, на какой стороне конфликта ты можешь находиться, я думаю, что все мы согласимся с тем фактом, что наличие реальной иммиграционной стратегии было и остается обязательным условием для граждан Украины и Российской Федерации. Виза EB-5 обеспечивает данную стратегию.

В отличие от некоторых моих коллег, я порой думаю, что кризис в Украине не окажет отрицательное влияние на вынесение решения по текущим или будущим петициям I-526 и I-829. Как никогда ранее, сейчас США должны приветствовать иностранные инвестиции в иммиграционную систему в Стране. Конечно, USCIS (Служба иммиграции и натурализации США) должна обеспечивать целостность законного источника средств. Однако необходимо сказать потенциальным инвесторам EB-5 из России и Украины, что они все еще могут подавать заявления на получение условного вида на жительство (Грин-карты), пользуясь услугами инвесторов визы.

Никоим образом я не утверждаю, что средства, связанные с такими компаниями и физическими лицами, которые завязли в конфликте, должны проходить проверку в USCIS. Я просто говорю о том, что трудолюбивые, заинтересованные, состоятельные и честные инвесторы из России и Украины не должны страдать каким-либо образом.

Индустрия получения визы EB-5, в целом, испытывает рекордный рост. Региональные центры, новые и старые, постоянно придумывают креативные способы, позволяющие сделать программу более безопасной и стабильной для инвесторов с позиции создания рабочих мест и возврата средств. Неоспоримым является влияние программы получения визы EB-5 в сфере экономики и создания рабочих мест.

Было бы обидно загубить данный импульс или утратить международное/национальное доверие к программе.

Более подробно о программе получения визы EB-5 и инвестиционных процессах Вы можете узнать на моем сайте по ссылке http://eb5investgreencard.com/  

  

Юридический офис Юрия Цыганова имеет честь давать своим клиентам индивидуализированные правовые советы и оказывать услуги, связанные с получением бизнес визы EB-5. Внушительный опыт позволяет нам рассматривать большинство специфических и комплексных случаев. Используя программу EB-5, наши юристы помогли людям со всего мира решить вопросы, связанные с эмиграцией, и начать новую жизнь в США. Мы используем самые последние технологии, доступные на рынке, что позволяет нам помогать клиентам вне зависимости от их местонахождения. Для того, чтобы дать Вам наилучший правовой совет и разработать наиболее удобную эмиграционную стратегию для Вас и Вашей семьи, мы тщательно отслеживаем последние тенденции и изменения в законодательном мире EB-5, а также изучаем практики и регламенты Регионального Центра.  http://eb5investgreencard.com/?lang=ru

Looks Like the USCIS is Starting to Clear the I-526 Backlog! опыт получения визы eb-5

Good news for those with long time pending I-526 Petitions.  With the transfer of the EB-5 Department from California to Washington, DC, the USCIS has started to make their way through the I-526 backlog.   I am happy to announce That as a result, my Clients have had four (4) of their petitions approved this week!  

Much to my own Surprise, the Fourth approval Came back in two A personal Best and A Half months! Thank you for this USCIS Pleasant Surprise. In my opinion, such a quick turnaround time should be attributed not only to the good work by an experienced EB-5 visa attorney, but mainly to the overall strength of the Regional Center and its paperwork.  

All four of the approval are in favor of a local Florida USCSI approved EB-5 Regional Center. The project is based on A franchise model with A Solid buffer of job creation. Most in the industry expect that this recent way of approval may be short lived since the recent termination of the Canadian immigrant investor program will lead to an influx of new EB-5 applicants, especially from China.

In any case, my Clients and I will enjoy these recent approvals and will now begin the Consular Processing stage of the EB-5 process.

Fore more on the EB-5 Visa in Fort Lauderdale, FL Please visit my Website at  www.eb5investgreencard.com

Good news for those who have a long time waiting for I-526. With the transfer of the Department of the EB-5 from California to Washington, DC, USCIS began to make their way through the backlog of I 526. I am happy to report that as a result, my clients had four (4) of its approved this week!

To my own surprise, the fourth assertion back in a personal best two and a half months! Thank you USCIS for this pleasant surprise. In my view, such a quick deadline should be attributed not only to the good work of an experienced EB-5 visa lawyer, but mainly, the total number of regional center and its documents.

All four are in favor of the approval of the local Florida USCSI approved EB-5 Regional Center. The project is based on the franchise model with a solid buffer create jobs. Most in the industry expect that this recent method statements may be short-lived as recently cessation program immigrant investors in Canada will lead to an influx of new EB-5 applicants, especially from China.

In any case, my clients and I will enjoy these recent allegations and will now step Consular Processing EB-5 process.

Fore more on the EB-5 visa in Fort Lauderdale, Florida, please visit the Web site at www.eb5investgreencard.com

Похоже,  USCIS начинает погашать задолженность по I-526!

Хорошие новости для тех, кото уже давно ждет решения по прошениям I-526. С переездом Отдела виз EB-5 из Калифорнии в Вашингтон, округ Колумбия, USCIS начала погашать задолженность по I-526. Я рад объявить, что в результате на этой неделе были одобрены четыре (4) прошения моих клиентов!

По большей степени, к моему собственному удивлению, четвертое разрешение пришло отдельно: С личным рекордом и В течение полумесяца! Спасибо за этот приятный сюрприз, USCIS. По-моему, такая быстрая обработка документации вызвана не только хорошей работой опытного чиновника, выдающего визу EB-5, но, в большей степени, общей стабильностью Регионального центра и его работой с документацией.

Все четыре разрешения в пользу местного USCSI Флориды утверждены Региональным центром EB-5. Проект основан на льготной модели с прочным резервом создания рабочих мест. Многие в индустрии ожидают, что этот недавно введенный способ утверждения может быть непродолжительным, так как недавнее закрытие программы инвесторов эмигрантов в Канаде приведет к наплыву новых заявителей на получение визы EB-5, особенно из Китая.

В любом случае, меня и моих клиентов порадуют эти недавние разрешения, и мы перейдем к этапу консульской обработки документации на получение визы EB-5.

Подробно о визе EB-5 в Форт Лаудердейле, штат Флорида, Вы можете узнать на моем сайте www.eb5investgreencard.com