Keeping Northern Nevada’s Economy on Track

With the United State Citizenship and Immigration Services (USCIS) EB-5 Program set to expire in September of this year, supporters are working diligently to ensure the future of the program. In January of 2015, Nevada Congressman, Mark Amodei and Colorado Congressman, Jared Polis, introduced legislation to make the EB-5 program permanent allowing for job creation through foreign capital investment. In efforts to help solidify the EB-5 Program’s future, Invest In the USA (IIUSA®), is holding an EB-5 Regional Economic Development and Advocacy Conference on April 12th thru 14th, 2015 in Washington D.C. with over 500+ scheduled to attend including: Michael Chartoff, former Secretary of Homeland Security; Honorable Senator Ron Johnson (R-WI)-Chairman of Homeland Security; Honorable Congressmen Darrell Issa (R-CA, 49th District)-Chair of House Subcommittee on Courts, Intellectual Property, and the Internet: Member, House Judiciary Committee, and many more nationally recognized financial, legal and immigration experts.

Lynn Beteag, Administrator, of the Nevada State EB-5 Regional Center (NVEB-5) will represent Northern Nevada at the Washington D.C. conference. NVEB-5 is focused on providing a means for financially sound, viable and secure job creating project opportunities, which fully satisfy all the requirements for investors to obtain their Green Cards, to navigate the EB-5 Program. The United States EB-5 Immigrant Investor Program (EB-5) is administered and overseen by the (USCIS).

“I am looking forward to attending the IIUSA Conference to not only show my support for this outstanding program but also to learn about USCIS policy and visa updates. The EB-5 Program is a powerful tool for keeping Northern Nevada’s economy on track by providing companies and project/developers of “at risk” projects with a means of acquiring additional capital that works as a compliment to the traditional capital stack.” said Ms. Beteag.

To learn more about EB-5 Regional Center advocacy, please visit: IIUSA.org (link to: http://advocacy.iiusa.org/)

Obtaining a Visa-The Numbers Game

Immigrants seeking legal entry into the United States are often overwhelmed with what appears to be an overly complicated visa allocation system. In fact, numerical caps are set by Congress and limit the number of foreign nationals that may obtain immigrant visas annually and are divided into 5 distinct categories of employment based green card categories. These are set by Congress to 140,000 immigrant visas (green cards) per year total for all 5 categories. Further, the EB-5 Program is limited to 10,000.

Greenberg Traurig’s recent article, What Every Chinese EB-5 Applicant and Agent Need to Know about Retrogression, explains the process in more detail below.

Each month, the Department of State (DOS) issues a visa bulletin which contains information regarding the availability of immigrant visas. The availability of immigrant visas is subject to numerical caps imposed by Congress, which limit how many foreign nationals may obtain immigrant visas each year. In the employment based green card category Congress allots 140,000 immigrant visas (green cards) to be issued annually. The employment-based categories are subdivided into five preference categories:

Curated from What Every Chinese EB-5 Applicant and Agent Need to Know About Retrogression | EB-5 Insights