In our final 2023 Chatting with Charlie: EB-5 Investor Outlook, WR Immigration Director of Visa Consulting Charlie Oppenheim and Joey Barnett provide unique insights on the January 2024 Visa Bulletin and what to expect from the EB-5 investor visa program. Watch below!
By: Joseph Barnett Earlier this week, new Immigrant Investor Program Office Chief Sarah Kendall addressed the EB-5 community at the AILA/IIUSA EB-5 Industry Forum in Chicago, Illinois. We are happy to see this type of engagement by USCIS and are hopeful for continued dialogue to address the concerns of immigrant investors and regional centers. Here are seven things we learned from Ms. Kendall: 1. Minor Investors Ms. Kendall confirmed there is no age limit for minors filing as the principal investors but indicated that USCIS will continue to look at issues of contractual capacity and voidability of investment contracts. 2. Bridge Financing Ms. Kendall indicated it was difficult to provide specific guidance on the issue of bridge financing because of the “diversity of work and financial arrangements and structures.” She noted that the term of the loan, by itself, does not disqualify financing as a bridge loan that would receive credit for job creation purposed and that USCIS will look at interim nature of loan and contemplation of future receipt of EB-5 (or other) capital to repay the bridge financing. This is inconsistent with language in RFEs previously issued by USCIS. Additional guidance clarifying this important issue is required to provide certainty for […]
On December 2, 2020, the U.S. Senate passed its version of H.R. 1044, the “Fairness for High-Skilled Immigrants Act of 2020.” The Senate version of the bill now returns to the U.S. House of Representatives. If the Senate version passes in the House and is signed into law by the President, it would remove the per-country limits on all employment-based immigrant visa categories, among other things. Since Congress is scheduled to end its session shortly, chances for passage in the House are unclear. The bill includes several controversial provisions, such as an annual limit on the number of immigrants who could adjust from H-1B status to that of permanent resident and a bar on those affiliated with the military forces of the People’s Republic of China or the Chinese Communist Party or the Chinese military. Details: R. 1044, https://www.congress.gov/bill/116th-congress/house-bill/1044 Section-by-section summary of Senate bill, https://www.visalaw.com/siskind-summary-s-386-fairness-high-skilled-immigrants-act-2020-852020/
