Posts Tagged ‘investor’

What are the requirements for an E-2 investor visa?

Nov 08, 2010 by No Comments

E-2 status is a temporary status for investors in a U.S. enterprise.  The investor’s country of citizenship must have entered into a treaty of commerce and navigation with the U.S. in order for the applicant to participate in the E-2 program.  The specific requirements are as follows:

1. The investor is a national of the treaty country

2. The investment is substantial in proportion to the type of E-2 business/industry

3. The investment is for a real and operating enterprise (speculative or idle investments do not qualify)

4. The investment is not marginal (income must be more than that required to earn a living or it must have significant impact on the U.S.)

5. The investor has possession and control of the funds

6. The investment is at-risk in the commercial sense

7. The investor is coming to the U.S. to develop and direct the enterprise

The E-2 category is also available to employees of E-2 enterprises if the employee is in a supervisory, executive or highly specialized skill capacity.  Please contact our San Francisco immigration law office if you need assistance with an E-2 investor petition.

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Posted in FAQ - E-2, Nonimmigrant Visas, USCIS | Read More »

USCIS Proposes Form for EB-5 Regional Center Applications

Aug 03, 2010 by No Comments

There is a new proposed form for submitting EB-5 regional center (RC) proposals.  A regional center is defined as an economic unit, public or private, involved in the promotion of economic growth, improved regional productivity, job creation, and increased domestic capital investment.  Regional centers  aggregate investments from foreign nationals seeking a green card in exchange for investing in the U.S. economy.

Currently, there is no specific form used for RC applications.  The USCIS has proposed the new form, Form I-924, Application for Regional Center Under the Immigrant Investor Pilot Program, in hopes to clarify the filing requirements for RC designation and alleviate inconsistencies in RC applications.  The new proposals will be sent to the California Service Center in Laguna Niguel, California.

The proposed filing fee for the Form I-924 is $6245 and a supplement (Supplement A) will be required to be submitted each year.  This supplement provides the USCIS updates about the RC and addresses reporting requirements.  RC re-designation will be required every five (5) years.  Please note that any amendments that need to be made (for example, if there are changes to the investments being made) will also be submitted via Form I-924.

Please let us know if you have any questions about this new form.  We will be posting again when there are updates to provide.

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Posted in Immigrant Visas, USCIS | Read More »

Do I qualify for the EB-5 category?

Jun 22, 2010 by No Comments

The EB-5 category is used by foreign investors who desire to live in the U.S. permanently (in “green card” status).  In general, the applicant must invest a minimum $1 million into a new commercial enterprise that will or does employ 10 full-time U.S. citizens or green card holders.  The applicant must engage in the new enterprise through day-to-day management or policy formation.

There are two alternatives to the $1 million requirement.  The first is if the applicant is investing in a targeted rural area plagued by unemployment.  In that case, the investment must be a minimum of $500,000.  The second alternative is to invest in an already-established Regional Center for a minimum of $500,000.

The EB-5 category has grown increasingly popular over the recent years perhaps due to the struggling U.S. economy and the ensuing opportunities for investment.  The USCIS recently held a stakeholders meeting to discuss the EB-5 category and reported that 955 applications out of 1100 have been approved in FY2010 (i.e. since October 1, 2009 to the present).  Some applications remaining pending and only a small percentage have been denied.  This means that the USCIS is seeing value in these investments and this category.

If you or someone you know would like to discuss the possibility of obtaining EB-5 status, please don’t hesitate to contact our immigration law firm.

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Posted in FAQ - EB-5, Immigrant Visas | Read More »