Archive

Posts Tagged ‘job creation’

Geographic Boundaries of an EB-5 Regional Center and Requirements for USCIS Approval of an I-924

November 7th, 2013 No comments
  • Facebook
  • Twitter
  • Delicious
  • Digg
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS
  • Technorati
  • LinkedIn
  • StumbleUpon

The EB-5 Immigrant Investor Program was created with the goal of generating greater economic growth. Regional centers should help grow the economy of the geographic area in which they are located. The regional center model within the EB-5 program offers an immigrant investor already-defined investment opportunities. It reduces the immigrant investor’s responsibility in identifying acceptable investment vehicles.

Under 8 CFR 204.6(e), a regional center “means any economic unit, public or private, which is involved with the promotion of economic growth, including increased export sales, improved regional productivity, job creation, and increased domestic capital investment.” Some regional centers contain one or more new commercial enterprises.

A regional center seeking approval from USCIS must file an I-924 form with USCIS. The I-924 must clearly describe how the regional center focuses on a geographical region of the United States, and how it will promote economic growth through increased export sales, improved regional productivity, job creation, and increased domestic capital investment. USCIS will require that the applying regional center provide verifiable detail regarding how jobs will be created either directly or indirectly. Regional centers applying to USCIS for EB-5 involvement must provide detailed statements regarding the amount and source of capital which has been committed to the regional center, as well as a description of the promotional efforts taken and planned by the sponsors of the regional center.

Applying regional centers should provide USCIS with a detailed prediction regarding how the regional center will have a positive impact on the regional or national economy in general. USCIS will focus on factors such as increased household earnings, greater demand for business services, utilities, maintenance and repair, and construction both within and without the regional center. The regional center must convince USCIS that the plans and predictions for the regional center are supported by economically and statistically sound forecasting tools that are valid, including , but not limited to, feasibility studies, analyses of foreign and domestic markets for the goods or services to be exported, and/or multiplier tables.

USCIS will review the proposed geographic boundaries of a new regional center and will decide whether they are acceptable. The applicant regional center must establish by a preponderance of the evidence that the proposed economic activity will promote economic growth in the proposed area. This question can be very fact-specific and the law and regulations do not require any particular form of evidentiary showing. The reasonableness of the proposed geographical boundaries may be demonstrated through evidence that the proposed area is contributing significantly to the supply chain, as well as the labor pool, of the proposed projects.

The EB-5 Immigrant Investor Program is an excellent way for foreign investors to relocate to the United States. Investors have different motivations for wanting to pursue the EB-5 program including having their children raised in the US, retirement, or starting a new business in the U.S. Before starting the process with USCIS, it’s important to have a full understanding of the pros and cons with each immigrant investment option – EB-5, EB-5 regional center, or E-2 visa. There are many misconceptions about the EB-5 program. Contact The Nunez Firm to schedule a consultation. Managing attorney Jay Nunez will personally meet with you to better understand your goals and objectives and help you discover which option is best suited to you.

For more information on EB-5 source of funds, click here.

 

President Obama Pursuing New Measures to Retain Highly Skilled Foreign Workers

February 3rd, 2012 No comments
  • Facebook
  • Twitter
  • Delicious
  • Digg
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS
  • Technorati
  • LinkedIn
  • StumbleUpon

The President is deeply committed to fixing our broken immigration system so that it meets our 21st century national security and
economic needs. As a part of comprehensive immigration reform, the President supports legislative measures that would attract and
retain immigrants who create jobs and boost competitiveness here in the U.S., including creating a “Startup Visa,” strengthening the
H-1B program, and “stapling” green cards to the diplomas of certain foreign-born graduates in science, technology, engineering,
and math (STEM) fields. Together these actions would help attract new businesses and new investment to the U.S. and ensure that
the U.S. has the most skilled workforce in the world. In the meantime, the Obama Administration is working to make
improvements in the areas where we can make a difference.

As part of these ongoing efforts and in recognition of the one-year anniversary of the White House Startup America Initiative, the
Department of Homeland Security today announced a series of administrative reforms which will be completed in the future. These
reforms reflect the Administration’s continuing commitment to attracting and retaining highly-skilled immigrants. These efforts are
critical to continuing our economic recovery and encouraging job creation.

In last week’s State of the Union, President Obama noted that “Innovation is what America has always been about. Most new jobs
are created in start-ups and small businesses.” He also stated in his remarks in El Paso last May, “In recent years, a full 25 percent
of high-tech startups in the United States were founded by immigrants, leading to more than 200,000 jobs in America.” Echoing
this, the President’s Council on Jobs and Competitiveness stated in its recent report, “Highly skilled immigrants create jobs, they
don’t take jobs.”

For more detailed information on the proposals.

site by hikanoo