We all know that our country is a mélange of cultures and nationalities. We also know that FIFA requires the team players to be nationals of their team at the World Cup. Nonetheless, the American Team in the 2014 World Cup is a great reflex of the U.S. country. Our Soccer team has 5 German- American players, an Icelnadic-American, a Norwegian American in addition to Mexican, Colombian and Haitian descent players. Moreover, the team’s coach, Jürgen Klinsmann was born in Germany. Thus the American Team truly represents the American Nation; A nation of immigrants. 

For more information on the 2014 word Cup click here

A lot of foreigners who are interested in the EB-5 program have questions about the regional centers (RC), the most popular type of EB-5 investment. Among other things, they want to know what is the RC, if the investment is safe, if they will get a return and their money back. Thus, I decided to put together some information.

Regional Center (RC) is defined by USCIS as “any economic entity, public or private, which is involved with the promotion of economic growth, improved regional productivity, job creation and increased domestic capital investment.” Basically, the RC is an investment project approved by USCIS in terms of the geographic location, investment/economic structure, and job calculation methodology. Nonetheless, that approval does not mean a guarantee by the government that the investors will receive their green card by investing on that RC project. 

As of June 2, 2014, USCIS had approved approximately 532 regional centers. The list of currently approved RCs may be found at www.uscis.gov/eb-5centers. As any other investment, there are more reliable RCs, and high risk RCs. The final decision of where to invest is made by investor who should take due diligence, including consulting with experts in the financial and legal fields, before deciding.

When looking for a RC to invest, we always advise our clients that the main purpose for this investment is to obtain permanent residence in the U.S., and not to obtain high financial return. Therefore, some of the characteristics to look for before choosing a RC are: (1) strong track records on all phases of the EB-5 procedures, including approvals of I-829, the final step to obtain the permanent green card; (2) transparent investment structure; (3) track records on recoup of the investments; (4) offering documents of the RC that not only contains a provision that money will be in escrow account until approval of I-526 Petition, but also a provision that the investor’s fund will be return in case of denial of the green card or Immigrant Visa.

Once chosen, the RC will work closely with the investor and his/her immigration attorney to file the I-526 petition, the first step of the process. Usually, a good RC will leave the invested money in an escrow account until the approval of the petition. After the petition is approved, the RC will capture the $500, and the investor, his/her spouse and children 21 years old and younger, will be able to apply for their green card, if in the U.S., or immigrant visa, if abroad. The investor and his/her family will then receive a conditional permanent residence (CPR) for two years. The RC will send periodic investment information to the investor. Three months prior to the expiration of the CPR, the immigration attorney will prepare to file form I-829 using updated documents provided by the RC to remove the condition on the green card. Once approved, the investor and his/her family will receive the permanent green card.

Some of the reasons for the RC popularity may be attributed to the facility and advantages that the RC project provides, including: The investment amount of $500k instead of $1M on RC located in a Target Employment Area (TEA), the use of a more expansive concept of job creations including both “indirect” and “direct” jobs; the lack of requirement to manage the day by day operation of the investment; and the freedom of the investor to work where he/she wants.

For further information regarding this topic or to schedule a consultation, please contact our office:

Schonberg & Timerman, P.L. at 954-843-3494.
 

 

Lately we have been hearing a lot in the news about the new surge of unaccompanied children entering the U.S.   Although this issue has become very popular, this has been an ongoing matter. Every year thousands of children cross the U.S. border to find protection, look for a better life, or to reunite with their family members. Some of this surge of immigration is driven by rumors that these children will get permiso to stay in the U.S. permanently. However, according to the United Nations Refugee Agency, not all fleeing children come the U.S., some of them are going to Mexico, Panama, Costa Rica and others.

Most people think that only Mexican children are crossing the boarders. Indeed, it used to be the case that the majority of unaccompanied children were coming from Mexico. Nowadays, however, this is not true. In 2013 more than 21,000 children from Central America, such as Honduras, El Salvador and Guatemala entered the country, versus 17,000 from Mexico.

Contrary to what a lot of people think, these children are not given a free immigration pass so they can live in the country. Illegal children nationals of Mexico and Canada, who are in the U.S. alone, can be returned back to their country immediately. Central American children must go into custody, i.e. temporary shelter, or sponsor (family) custody and trough a formal immigration process. That is, once these unaccompanied children are taken into custody, they are put into deportation procedure. The immigration process consists of a Notice to Appear in Court (NTA), where these children have a chance to defend themselves in court and try to stay in the U.S.  The immigration judge is the one who will make the final determination.

As any other immigration court proceedings, these children are not provided governmental legal assistance. Most of the assistance is provided in a probono basis. Children who can find legal representation, are more likely to obtain legal relief. The most popular form of immigration relief is the special immigrant juvenile status, which will ultimately provide the green card to the children who is found to be abused, abandoned or neglected by one or both parents.

It is important to know that although they will get the green card, these children do not have a “free pass”. In fact, they do not have a “pass” at all. They live a very hard life and have to make extraordinary difficult choices at an age that most of us are safe at home. The U.S. and many Central American countries are working together to try to solve this issue.