And The Next Couple Going Home Is....It's almost like the Reality TV show, #DWTS, where couples are voted off for poor performances or just simply being disliked by the networks viewers. Only this time, it's not the American Reality TV show viewers that are hanging on to the edge of their seats; it's the American Immigration Attorneys who represent EB5 entrepreneurs looking to invest in the United States and in turn get their Green Cards which will put them on a path to U.S. Citizenship. What Is the EB5 Program? According to the USCIS Policy Memorandum, the EB5 program's purpose "is to promote the immigration of people who can help create jobs for U.S. workers through their investment of capital into the U.S. economy." The Daily Waiver has discussed the importance of this program as a vital economic and job creating engine in the United States. There are many powerful opponents of this program such as Sen. Feinstein who has erroneously claimed that this program essentially sells people US Citizenship. Nothing could be farther from the truth. The fact is that this program has funded various projects across the country that has created thousands of jobs for Americans and has contributed positively to the overall health, growth, and expansion of the United States economy. What Is Congress Up To? Right now Congress is working on a plan to renew the EB5 Regional Center program which is set to expire on Dec. 11, 2015. The plan that Congress is working on includes a possible increase of the minimum investment required as well as new restrictions on the source of the funds i.e. gifted funds. My office is closely monitoring the situation and will provide you with an updated posting when new details emerge. M. Ray Arvand, Esq. The Law Office of M. Ray Arvand, P.C. The Standard Oil Building 26 Broadway, 21st Fl. New York, NY 10004 212-323-7435 www.arvandlaw.com
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