By Taher Kameli and Chathan Vemuri On October 27 of 2020, the D.C. Circuit Court of Appeals invalidated a United States Citizenship and Immigration Services (USCIS) denial of an EB-5 immigrant investor’s petition under its Loan Proceeds Policy. The DC Circuit invalidated the Loan Proceeds Policy, under which cash from loans were treated as indebtedness and had to be collateralized by the investor’s assets. This policy, which was adopted in 2015, differed from its older policy where the USCIS only looked at “whether capital resulting from secured loans was secured by the assets of the investor (indebtedness),” and that
Written by: Taher Kameli, Esq. Would you like to be a resident of the United States? The United States, often referred to as the “land of opportunity”, is considered an attractive destination for many immigrants, with its strong economy, high level of education, health care, and standard of living, political freedoms, and diverse culture. If you are interested in residing in the United States, you should note that important dates will be forthcoming before the end of year 2019 for the United States’ residency by investment program (known as the “EB-5 program”). On July
Written by: Taher Kameli, Esq. Under the EB-5 program, immigrants who invest $500,000 in a project located in a “targeted employment area” (generally rural areas and areas with high levels of unemployment) (“TEA”) that creates 10 full-time jobs generally can qualify to receive a green card, and permanent lawful resident status, in the United States. As the EB-5 program has been popular, the announcement in January, 2017 that new regulations would be issued concerning the EB-5 program drew significant attention. After well over 2 years, the wait for these new regulations is finally over. On July 23, U.S. Citizenship
Written by: Taher Kameli, Esq. The EB-5 Immigrant Investor Program dating back to 1990 continues to be an attractive route to U.S. citizenship and the participation rate for the program has remained high among foreign investors. Importantly, almost 40,000 EB-5 petitions have been filed with the United States Citizenship and Immigration Services (USCIS) over the past three years. Since its inception, the EB-5 program has proven to be beneficial to the U.S. economy as well. It has truly emerged as a vital source for job creation and has helped stimulate the U.S. economy.