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EB-5 News & Updates April 27 - May 04

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The Future of the EB-5 Regional Center Program

Florida, Miami, US 05/05/2017 2:00PM - 3:00PM (Eastern Daylight Time)

Conversation about News & Events in the EB-5 Industry with Analysts, Experts and Newsmakers.   Questions can be made by calling: +1-917-421-9919 or by video here with a Chrome browser

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Wealthy Chinese Scramble for Imperiled Commodity: U.S. ‘Golden Visa’
He has a lakeside villa valued at more than $3 million, two Mercedes sedans in the garage and a butler who fluffs his pillows and shines his shoes. But Liu Xiyu, a real estate executive in Beijing, still lacks the convenience he says he...
Congress must support foreign investment program that creates jobs
Quick: Can you name a federal program that attracts billions of dollars to job-creating American businesses at below-market cost, without costing taxpayers a dime? It's not a trick question. It's called the EB-5 program, and it eases...
Congress Extends EB-5 for Another Week
Congress on Friday extended for a week the EB-5 immigration program, a way for rich foreigners to obtain green cards through investment in the United States, according to U.S. Citizenship and Immigration Services. The program that’s...
EB-5 investor visa program being extended by one week
The EB-5 investor visa program is likely to be extended by one more week in order for Congress to negotiate reforms to the program. The program, which has been very popular abroad in recent years — especially in China and India — but...
The 'Golden Visa' program into the US is set to expire, and that's worrying many in China
It only took one winter night for a Chinese mother to make the decision to leave her country. In the following two months' time, she rushed to prepare $500,000 in cash, trying to submit all her application documents ahead of April 28 —...
Critics seek visa program reforms
The original plan was to attract foreign investment to blighted neighborhoods. But instead, the controversial EB-5 investor visa enabled affluent Chinese to park their cash in high-end real estate in Beverly Hills and Manhattan --...
Life Beyond H-1B In US
US President Donald Trump signed an executive order for tightening the rules of the H-1B visa programme, the most sought-after by Indian IT firms and professionals, to stop “visa abuses”. The order directs the agencies to suggest...
Walton Westphalia Development Corporation Reports Fiscal Year-End and Fourth Quarter 2016 Fiscal Results
Walton Westphalia Development Corporation (the ?Corporation) announced today its results for the fiscal year ended December 31, 2016 and fourth quarter of 2016. Launched in March 2012, the Corporation was formed to provide investors...
Controversial EB-5 Visa Gets Extension
A controversial visa program, known as the EB-5, which allows wealthy foreign nationals to promise significant domestic investments in trade for Green Cards has been extended in the latest spending bill. Under the EB-5 visa, foreign...
EB-5 visa scandals close to home
I was amused reading the April 28 news article “‘Green cards for cash’ face questionable future.” The article pointed out that the EB-5 investor visa program, which grants conditional visas to foreign entrepreneurs who invest in the...
Reform Is Finally on the Horizon for Scandal-Ridden EB-5 Visa Program
Congress is kicking the can down the road once again on reforming the controversial EB-5 visa program, which offers visas to foreign investors who pump money into job-creating projects. But a revamped version of the 27-year-old program...

Updates

Project Updates
Extend the EB-5 foreign investor program that's yielded millions for Cleveland jobs: editorial
Congress must act quickly to save the EB-5 program, the golden goose that has encouraged foreign investors to plow hundreds of millions...
Summer jobs: Mount Snow goes on hiring spree
Mount Snow has job openings. And a lot of them. The ski and snowboard resort is going on a hiring spree to fill positions related to...
Trump May Scrap "Citizenship for Sale" Visa Program That Funded His Own Towers
The EB-5 visa program – dubbed the "Golden Visa" program – was set to expire on Friday (April 28), but will now be on the chopping block...
Stenger 'Providing Tremendous Value' On The Job At Resorts
Bill Stenger, Jay Peak’s former CEO and president, remains a presence at the ski resorts in northern Vermont where regulators say he...
EB-5 program extended as House passes $1.1 trillion spending bill
The 1,665-page measure now heads to the Senate, which is also expected to approve it. Despite his complaints, Trump has promised to sign...
Regional Center Updates
Senate Zeroes Out Vermont EB-5 Regional Center Budget
The budget for the Vermont EB-5 Regional Center has been zeroed out in the Senate appropriations bill. A provision in the budget bill removes the commerce agency’s spending authority for the program. The defunding effectively guts the center,...
Chasing Chinese immigrant investment: SEC forces Boise man to repay $5 million, plus fine
One of the key men behind Idaho’s controversial overture to Chinese investors in 2007 agreed to pay back $5 million in investors’ funds that the Securities and Exchange Commission said he misappropriated. Boise miner and real estate developer...
Jay Peak Profits Rise To Over $9 Million, Officials Report
Jay Peak Resort is reporting a big bounce-back year, buoyed by increased snowfall and the shedding of costs associated with operating an EB-5 immigrant investment program that led to fraud charges against the past operators. It’s difficult to...
City Connections shutters USCIS approved EB-5 regional center
When City Connections Realty launched an EB-5 regional center in the fall of 2015, the mid-sized firm expected business to boom. Fearing imminent regulatory changes to the popular program, thousands of foreign nationals — mostly from China —...
User Updates
EB-5 survives for at least another week
Congress has given a one-week extension to the federal EB-5 visa program that is popular with Chinese investors and gives green cards in exchange for investments in American businesses that create jobs. The extension until May 5 was part of a...
Congress Proposes to Extend the EB-5 Regional Center Program Through the End of FY 2017
Congress is poised to extend the EB-5 Regional Center Program through Sept. 30, 2017, without any changes. The House Appropriations Committee submitted a proposal on Continuing Appropriations in the early morning of May 1, 2017. We expect the...
Congress Poised to Extend EB-5 Regional Center Program Until September 30 Without Changes
Congress is poised to extend the EB-5 regional center program through September 30, 2017, without any changes. Here is how we got to this point: On April 28, 2017, the U.S. Congress passed a one-week stopgap funding bill to prevent a government...
Firms Updates
New USCIS ombudsman was top exec at anti-EB5 group
The new ombudsman for the United States Citizenship and Immigration Services was a longtime top executive at a group that actively lobbies for the elimination of the EB-5 program. The appointee, Julie Kirchner, was for more than a decade the...
The lobbyist hit list
In the fall of 1991, a brash New York developer testified at a Congressional budget hearing, telling committee members that nobody he knew could get a loan and complaining that the real estate industry’s muscle in Washington was weak. “They have...
South Africans want US investment visas
Demand for US investment visas by wealthy South Africans has more than doubled. Data released last week showed that South African demand for US EB-5 visas, which allow people to obtain a green card by investing $500 000 (R6.66 million) into a US...
United States: Congress Passes Immigration Program Extension to May 5th
Today the U.S. House (328-30) and the Senate (voice vote) have passed a Continuing Resolution that will fund the U.S. government and extend the EB-5 Regional Center, Special Immigrant Religious Worker, and Conrad 30 Visa programs to May 5, 2017....
Government Funding Bill Released; EB-5 Program Intact Through September
As reported by Ballard Spahr in previous Alerts, many members of Congress have proposed and considered several reform measures to the U.S. Immigrant Investor Program, known as "EB-5," over the past several years. With the sunset of the EB-5...

Litigation Cases

UNITED STATES SECURITIES AND EXCHANGE COMMISSION vs Idaho State Regional Center

Events

Attracting Foreign Capital Through EB-5: New Rules and Potential Obstacles

1650 Market Street, 28th Floor Philadelphia, PA, Philadelphia, US 05/04/2017 4:30PM - 7:30PM (Eastern Daylight Time)

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The Future of the EB-5 Regional Center Program

Florida, Miami, US 05/05/2017 2:00PM - 3:00PM (Eastern Daylight Time)

Conversation about News & Events in the EB-5 Industry with Analysts, Experts and Newsmakers.   Questions can be made by calling: +1-917-421-9919 or by video here with a Chrome browser

Free
University of San Diego-Procopio International Business Summit

University of San Diego 5998 Alcala Park San Diego, CA 92110, California, US 05/12/2017 9:00AM - 10:00PM (Eastern Daylight Time)

You are Invited | Second Annual University of San Diego-Procopio International Business Summit      USD-PIBS is created for Latin American executives, investors and advisors interested in learning how to do business in the United States. Mee...

$500

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