regional center eb-5 applications the eb-5 program the eb-5 program permanent u.s. residency for...

Regional Center EB-5 ApplicationsRegional Center EB-5 Applications

The EB-5 ProgramThe EB-5 Program

Permanent U.S. Residency for

FOREIGN INVESTORS

H. Ronald Klasko, Esq.Klasko, Rulon, Stock & Seltzer, LLP

Philadelphia New York1800 JFK Blvd., 17th Floor 317 Madison Ave., Suite 1518Philadelphia, PA 19103 New York, NY 10017

215.825.8600 212.796.8840 www.eb5immigration.com www.klaskolaw.com

Klasko, Rulon, Stock & Seltzer, LLP

H. Ronald Klasko, Esq.

H. Ronald Klasko (Ron) is recognized as one of the leading U.S. immigration lawyers. A founding member of Klasko, Rulon, Stock & Seltzer, LLP and its Managing Partner, he has practiced immigration law exclusively over three decades.

Ron was named as the world’s most respected corporate immigration lawyer (The International Who’s Who of Business Lawyers 2007 and 2008).

A former National President of the American Immigration Lawyers Association (AILA), Ron has been selected in the highly regarded Best Lawyers in America for the past 16 years.

Ron’s practice includes a substantial focus on EB-5 investor cases. Ron is the designated preferred attorney for filing EB-5 petitions for four of the approved regional centers. He is the National Chairman of the EB-5 Committee of the American Immigration Lawyers Association. He is a frequent speaker and author on EB-5 issues.


Advantages of EB-5 Program

No quota wait No job offer or employer sponsorship required Spouse and children included In state tuition possible Geographical flexibility Employment flexibility


Introduction to Regional Center EB-5

Requires investment of $500,000 in government approved regional center (some require $1,000,000)

Regional center proves direct or indirect employment of 10 U.S. workers per investor

Must prove lawful source of funds 3,000 green cards available each year


Investors for Whom Regional Center EB-5 May Be Good Option

Do not want to do individual EB-5 Must start/manage/expand a business Must create direct full-time jobs for 10 U.S.

workers Must invest $1,000,000 unless “targeted

employment area” Complex legal issues


Investors for Whom Regional Center EB-5 May Be Good Option

Immigration is driving force Wants to be geographically mobile Retirees Main/major concern is children going to

school in U.S.

(cont’d)


Procedure

File EB-5 petition (I-526) Include documentation of lawful source of funds Average processing time 4 to 6 months

Apply for immigrant visa at U.S. Consulate Average processing time 4 to 8 months Entire family can apply Enter U.S. as conditional permanent resident Investor, spouse and child can work, study, travel


Procedure

After 21 to 24 months, file condition removal petition Investment sustained and jobs created Approval results in permanent green card Average processing time 4 to 6 months

5 years after conditional residence, can apply for naturalization (U.S. citizenship) Completely optional

(cont’d)


Documenting Lawful Source of Funds

Only need to document $500,000 Personal and corporate tax returns

Last 5 years Personal and corporate financial

statements Optional Best if audited



Investments Copies of accounts

3 years or more Bank statements

Business documents Business registration documents Ownership documents Dividend records Business sale documents

(cont’d)



Real estate Purchases and sales

Deeds Mortgages Appraisals Settlement Transfer of proceeds

Rental income Leases

(cont’d)



Employment Contracts Company wage documents Company letter Resume and educational documents Professional licenses

(cont’d)



Other Inheritance Divorce Lawsuits

Gifts and loans Need to prove lawful source of funds of giftor or creditor Gift tax? Reasons for gift/loan Loan documents

(cont’d)


Tracing of Funds Transferred to Regional Center

Must document all transfers from investor’s account to regional center’s account


Special Issues

Travel Must have residence in U.S. If will be out of the U.S 6 months or more,

consider filing reentry permit Must file reentry permit if will be out of the U.S.

1 year or more


Special Issues

Children Only children under 21 at time of conditional

permanent residence Exception: if EB-5 petition (I-526) filed before

age 21, and apply for permanent residence promptly, child can be included

(cont’d)


Sources of Information

www.eb5immigration.com www.uscis.gov


Questions?Questions?


For Further Information

H. Ronald Klasko, Esq.Klasko, Rulon, Stock & Seltzer, LLP

[email protected]

215-825-8600 (Philadelphia)

212-796-8840 (New York)

www.klaskolaw.com

www.eb5immigration.com

regional center eb-5 applications the eb-5 program the eb-5 program permanent u.s. residency for...

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