Earlier this month, the White House released a review of the United States’ immigration policies in a report entitled, “Modernizing & Streamlining our Legal Immigration System for the 21st Century.” The Report highlights key...more
The Obama Administration released a report on July 15 titled “Modernizing & Streamlining our Immigration Legal System for the 21st Century.” The Report, which builds upon the President’s executive action on immigration...more
On July 6, the Securities and Exchange Commission filed a complaint in connection with a $68 million affinity fraud scheme allegedly orchestrated by Bingqing Yang, through her wholly owned management companies, Luca...more
On July 14, 2015, the House Judiciary Committee met to discuss oversight of the United States Department of Homeland Security (DHS). Immigration was a major topic alongside border security and global threats of terrorism,...more
Cutoff dates for EB-3 Philippines available, but backlogged to 2004. Cutoff dates for EB-3 China backlogged to 2004, while cutoff dates for Mexico and the rest of the world advance by three and a half months. Cutoff dates for...more
On Monday July 6, 2015, the Securities and Exchange Commission (the "SEC") charged Luca International Group, LLC, a San Francisco area oil and gas company, and its affiliated companies ("Luca") and certain of its executives,...more
The Securities and Exchange Commission (the “Commission” or “SEC”) has become increasingly active in enforcing alleged violations of U.S. securities laws arising under the EB-5 Immigrant Investor visa program. EB-5...more
With the impending expiration of the Immigrant Investor Visa Program, also known as EB-5, in September, bipartisan legislation has been proposed in Congress to renew and improve the Program. The proposed changes could...more
Action Item: In what is expected to be the first of many cease-and-desist orders made by the SEC against brokers handling investments in EB-5 investment projects, all EB-5 organizers and sponsors, through their due diligence,...more
The Ninth Circuit upheld a conviction for illegal tipping, following Dirks but raising doubt regarding its adherence to Newman in an opinion authored by Judge Rakoff, sitting by designation.
The Commission filed settled...more
The proposed Senate Bill reauthorizing the EB-5 Regional Center Program would restrict the types of projects that can be funded with EB-5 financing and amount of funds that can be raised with EB-5 financing.
On June 23, 2015, the Securities and Exchange Commission (“SEC”) announced that it had entered into an Offer of Settlement with Ireeco, LLC and Ireeco Limited, finding that their activities constituted a violation of Section...more
Created by the Immigration Act of 1990, the Immigrant Investor Program, more commonly referred to as the EB-5 program, offers foreign investors an opportunity to secure permanent residency in the United States by making a...more
The EB-5 program, which promises a path to a permanent green card for those who can invest in this country and create jobs, has been involved in a number of SEC enforcement actions, most recently involving unregistered broker...more
On June 23, 2015, the Securities and Exchange Commission (SEC) charged two companies with unregistered broker activity related to EB-5 visa investments. SEC alleged that the companies brokered more than $79 million in EB-5...more
This is a good news story for once. But, of course, since the father of this soupcon of good news is our government, it’s almost unintended.
From the ashes of the economic recession of 2008 came the rebirth of the...more
The SEC brought another custody rule action this week – against the outside auditors alleging that one examination was insufficient and the others incomplete thereby causing the client to violate the surprise audit...more
In an important development affecting the EB-5 financial community the SEC has imposed a cease-and-desist order with respect to fund raising activities conducted by two unregistered brokers and related persons in connection...more
The EB-5 program was designed to create a path to becoming a permanent residence in the U.S. for certain immigrants while facilitating job creation in the United States. Initiated in 1990, the program gives a foreign...more
Cutoff dates for EB-3 Philippines become unavailable, cutoff dates for EB-2 China advance by four months, and cutoff dates for EB-3 for Mexico and the Rest of the World advance by six weeks.
The US Department of State...more
The Regional Center part of the EB-5 immigrant investor program is set to sunset on September 30, 2015. Recent actions by the Obama Administration, the Senate and the House demonstrate this program now has significant...more
Senate Judiciary Committee Chairman Chuck Grassley and ranking member Senator Patrick Leahy introduced sweeping, bipartisan legislation on June 3, 2015, to reauthorize and reform the EB-5 Regional Center program, which is...more
In recent years, developers seeking to raise capital have taken a keen interest in the EB-5 regional center investor visa program. Regional centers are entities designed to use immigrant investor capital to promote economic...more
The EB-5 Visa program has been widely promoted as a legal basis for foreign business owners to gain conditional residency followed by permanent residency in the United States. The program is a great solution...more
The EB-5 investor visa program allows non-U.S. persons to invest $500,000 (or $1,000,000) in a business that is expected to create at least 10 new permanent jobs per investor, and to obtain a conditional visa upon review and...more
Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up to create your digest using LinkedIn*
Back to Top