The EB-5 visa category started in 1991, whereas the development of Regional Centers
began in 1993. During the mid 1990-‘s several companies competed for investment capital from
foreign investors for the EB-5 program. Most of the companies did not offer sound investment
opportunities and did not raise the full one million dollar investment capital or hire the required
number of employees.
The INS wanted to stop these abuses of the program, which involved law suits. The EB-5 program was effectively placed on hold between 1998 and 2002. In 2002, Congress passed
a new law to protect the pre-1998 investors. Also, in a case commonly known as “Chang” in
the 9th Circuit Court of Appeals ruled that INS may not apply their new rules retroactively. In
August of 2003, INS began approving regional center petitions for the first time since 1998.
It is now common knowledge that EB-5 immigration petitions based on sound
investments in designated regional centers for the full investment amount as prescribed by the
rules, with the proper supporting documentation, should be approved.
Link: http://www.eb5extell.com
began in 1993. During the mid 1990-‘s several companies competed for investment capital from
foreign investors for the EB-5 program. Most of the companies did not offer sound investment
opportunities and did not raise the full one million dollar investment capital or hire the required
number of employees.
The INS wanted to stop these abuses of the program, which involved law suits. The EB-5 program was effectively placed on hold between 1998 and 2002. In 2002, Congress passed
a new law to protect the pre-1998 investors. Also, in a case commonly known as “Chang” in
the 9th Circuit Court of Appeals ruled that INS may not apply their new rules retroactively. In
August of 2003, INS began approving regional center petitions for the first time since 1998.
It is now common knowledge that EB-5 immigration petitions based on sound
investments in designated regional centers for the full investment amount as prescribed by the
rules, with the proper supporting documentation, should be approved.
Link: http://www.eb5extell.com
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