U.S. Immigration HOT TOPIC: EB-5
What: U.S. Immigration HOT TOPIC: EB-5
When: Wed., Feb. 26, 2014
Where: This is a webinar and will be hosted online
Program Overview: The growing global economy means that key personnel – and corporate and individual investments – are moving freely around the world via immigration-based programs. This movement of individuals and investments, vital to sustained growth and ingenuity, is expected to increase demand for visas and green cards in 2014.
The Immigrant Investor Program, known as EB-5, has become a highly complex and a hot area of law. EB-5 was created by the U.S. Congress to stimulate the U.S. economy through job creation and capital investment by foreign investors. This program provides a green card to a qualified immigrant from any country who invests $1 million, or $500,000 in a high - unemployment or rural area, so long as the business is a new commercial enterprise creating at least 10 full-time jobs for U.S. citizens, permanent residents or those authorized to work indefinitely. The estimate is that 90 percent of EB-5 visa applications are through the “Regional Center Pilot Program,” which was reauthorized in 2012 for another three years.
The EB-5 program allocates 10,000 visas a year, and in the past there were far fewer applicants than available visas. But it is anticipated that the 10,000 visas will be used up by the second or third quarter of fiscal year 2014, creating a waiting a list. Therefore, it is imperative for interested or potential immigrants to the U.S. with the requisite capital to move forward quickly.
This webinar for our TerraLex partners and other legal professionals intends to:
- Present the requirements of the EB-5 program;
- Explain the distinction between the individual EB-5 program and the projects within a Regional Center Pilot Program – the benefits and determents to each;
- Discuss the legal structure required to create a new commercial enterprise for the stand-alone EB-5 or for a Regional Center;
- Discuss the relevancy and applicability of U.S. securities laws to both the regional centers or new commercial enterprise and the potential investors;
- Discuss what type of clients benefit from this program to immigrate to the U.S; and
- Discuss the alternative visas to immigrate for investors and/or professionals.
- Discuss the alternative visas to immigrate allowing investors and/or professionals to immigrate.
Even if the 10,000 limit on EB-5 visas is not reached, the State Department has predicted that immigrants from China will face a waiting list because of the per country quota limitations. This is particularly important, since approximately 80 percent of all immigrants seeking EB-5 visas are from China.
Presented by Mercedes Badias-Tavis of Barnes & Thornburg LLP