CMB recently accepted its 6000th EB-5 investor. This is a remarkable and humbling milestone. Over the last 25 years, across 82 EB-5 investment partnerships, we’ve had the opportunity to help investors from all over the world pursue their American Dream through the EB-5 immigrant investor program. Approximately 2,000 of those investors have now completed the EB-5 process (approval of their I-829 petition) and have achieved permanent residency in the United States.
CMB’s EB-5 investments have created approximately 200,000 jobs across the United States. Our investors have helped finance infrastructure, renewable energy projects, residential developments, hotels, industrial/logistics facilities, and retail centers in areas of the country where job creation is most needed. We are extremely proud to be a part of a program that has provided such tremendous growth and development to underserved communities.
The CMB family includes investors from 103 countries. We regularly travel all over the world to meet with prospective investors considering the program, as well as our current investors navigating the immigration process. Our large investor relations staff speaks 14+ languages, allowing us to work with investors from any region. CMB and its affiliate employ staff that live in 10 different countries, across 5 continents. Our dedication to our clients and our large and diverse team of professionals allows us to meet with prospective investors all around the world.
In March of 2022, congress reauthorized the EB-5 program through Sept. 2027. The passage of the RIA (EB-5 Reform and Integrity Act) has strengthened the program by providing a clear path forward for future immigrant investors interested in migrating to the United States. The inclusion of set-aside visas for specific EB-5 projects provides compelling options for investors from countries that previously faced longer wait times due to visa retrogression and grandfathering provisions in the bill add certainty and security to the EB-5 process for new investors.
Over the years we’ve established relationships with top U.S. real estate developers to craft incredible EB-5 investment opportunities. In particular, our EB-5 investment partnerships with Hillwood Development Company have helped to meet the high demand for industrial/logistics space created by extreme growth in the ecommerce sector. Hillwood and CMB have collaborated on 35 separate investments, which have utilized over $1 Billion in EB-5 investment capital. CMB partnerships featuring Hillwood projects continue to maintain a 100% project approval and loan repayment rate. We believe Hillwood and CMB represent the most successful lender/borrower relationship in the EB-5 industry.
The future looks bright for the EB-5 immigrant investor program! CMB is one of the oldest and most successful regional center operators in the industry. We currently have multiple high quality EB-5 investment opportunities featuring Hillwood projects open for subscription. If you are interested in learning more, contact us today!
In an exciting announcement published earlier this afternoon, the USCIS stated that Permanent Resident Cards (Green Cards) held by immigrant investors who have filed their I-829 petition for permanent residency will be valid for 48 months beyond the card’s expiration date.
They state in the notice:
We will issue new receipt notices to eligible conditional permanent residents who previously received notices with an extension shorter than 48 months and whose cases are still pending.
The USCIS previously announced a similar extension of 24 months beyond the card’s expiration date in September of 2021.
This is great news! You can read the full announcement HERE.
On Jan. 4, the Department of Homeland Security published notice in the Federal Register of their intention to increase fees for participants in the EB-5 visa program. The proposed fee hikes will impact Immigrant Investors using the EB-5 visa program to achieve permanent residence through the program.
The EB-5 visa program requires participants to file two separate petitions. The initial petition, required to achieve conditional permanent residency, is form I-526E. Form I-526E is filed by EB-5 investors immediately after making the required investment.
The second petition, form I-829, is filed ninety days prior to the completion of the EB-5 participant’s two-year sustainment period under their conditional permanent resident status.
Combined, the proposed fee schedule increase for both petitions will add $13,260 to EB-5 participants’ total costs.
The proposed fee schedule is currently in a 60-day comment period that will last until March 6, 2023. The USCIS may still make adjustments to the proposed fee schedule following the comment period.
For prospective participants in the EB-5 visa program, now is the time to strongly consider moving forward with a high quality CMB EB-5 project offering. If an EB-5 participant delays filing their petition he or she could experience a substantial increase in the amount necessary to file his or her immigration petitions.
Contact us to discuss the benefits of moving forward prior to the proposed rate increases. Our team of EB-5 professionals is available to answer your questions on the EB-5 program, CMB, and demonstrate how CMB’s 25-year history as a leader in the EB-5 industry can help you achieve your American dream.
We’re excited to announce that a limited partner in our Group 70 EB-5 partnership recently received approval from the USCIS on their I-526 petition. This is great news for all limited partners in Group 70 and we at CMB would like to extend our heartfelt congratulations on reaching this important immigration milestone.
The Group 70 partnership, in collaboration with Hillwood Development Company, provided funding to support the development and construction of four industrial/logistics facilities in California and Florida.
We expect to see additional I-526 approvals for immigrant investors in the Group 70 project in the near future!
The Reform and Integrity Act was signed into law in March of 2022 and made multiple changes to the EB-5 investor visa program. One notable change is the ability for foreign nationals to file for adjustment of status immediately after filing an I-526E petition. This ‘concurrent filing’ provides foreign nationals on a temporary visa the ability to remain in the U.S. while they pursue permanent residency through the EB-5 visa program.
HOW IT WORKS:
Following the updates to the EB-5 program, workers on a temporary visa and students who are already residing in the United States have the ability to file Form I-485 immediately after filing Form I-526E, which is the first step in the EB-5 process. This will allow anyone on a non-immigrant visa to remain in the U.S. while awaiting approval of their I-526E form from the USCIS. Previously, individuals in the U.S. investing in EB-5 visa were required to wait until after their initial I-526 petition had been approved to apply for an adjustment of status. The EB-5 visa program can be utilized by foreign nationals already residing in the U.S. under any (non-immigrant) temporary visa, the most common of which are:
-H-1B
-E-2
-F-1
-L-1
BENEFITS OF EB-5:
A successful EB-5 investment can result in permanent residency for the primary investor, their spouse, and any unmarried children under the age of 21. Investors would not have to rely on a lottery system (as they would if they were pursuing an H-1 visa). After filing for an adjustment of status, EB-5 investors may have more flexibility in employment opportunities as opposed to H-1 visas, with concurrent filers being allowed to apply for jobs other than the sponsoring employer or an investment business. An investor may decide not to work at all. Prior to pursuing the potential benefits of concurrent filing, one should seek the advice of a qualified immigration attorney.
A DEEPER LOOK AT H1-B:
The H1-B program allows foreign nationals to work in certain occupations in the U.S. H1-B visas are limited to 65,000 visas per year with an additional 20,000 set aside for foreign nationals holding more advanced degrees such as a masters or doctorate from a U.S. institution. The H1-B visa program contains many restrictions on who a foreign national may work for and what work they’re permitted to do. Additionally, the H1-B visa program operates under a lottery system, which means many qualified applicants may never have their application reviewed. Employers are required to file the H1-B visa on behalf of the foreign national hoping to work in the U.S. which can be a lengthy and expensive process.
The H1-B visa program is also only available to applicants for a maximum of six years. If selected for the program, three years of residency will be granted, with the option to renew the visa for a maximum of six years. The H1-B visa program typically receives far more applications than there are visa available.
In addition, to the costs and time constraints, the process also requires an extensive amount of paperwork to be presented. This paperwork can include but is not limited to a detailed job description, copies of training certificates, business plan, etc.
A DEEPER LOOK AT F-1:
An F-1 visa allows international students to study in the U.S., at all levels of education. A student applying for an F-1 visa must be enrolled as a full time student. If granted, an applicant’s F-1 visa is temporary, only available during their time a student is actively enrolled.
International students intending to study in the U.S. on an F-1 visa may be limited when selecting specific universities, as some have quotas on the percentage of their students who fall into this category.
For families that have already migrated to the United States through the EB-5 program and achieved permanent residency, their children will be able to attend public universities in the U.S. at the same cost as American citizens. This can result in significant savings, as foreign nationals on an F-1 visa often pay much higher tuition.
A DEEPER LOOK AT L-1:
An L-1 visa, is a non-immigrant visa that allows recipients to work for an authorized L1 employer in the United States. The L-1 visa, like mentioned above, is temporary. It would only allow recipients to remain in the U.S. for three years, with the opportunity to extend the stay for a maximum of seven years. As previously mentioned, an EB-5 visa may be much more appealing for prospective investors, as their immigration status will be permanent and not tied to their employment. Like many other temporary visas offered, the L-1 visa also has requirements that those interested must meet. This includes the U.S. Company being required to file the petition on behalf of the recipient. The company in the U.S. must also be a parent, branch office or affiliate of the foreign company. Applications are also limited to employees who worked in a managerial, executive or specialized knowledge capacity with their foreign company and their work in the U.S. needs to meet the same criteria.
SUMMARY:
The EB-5 visa program can be an excellent solution for foreign nationals hoping to pursue permanent residence in the United States. It can be a key tool for families hoping to provide a high quality education for their children, or for workers hoping to access professional opportunities in the United States.
LEARN MORE AND APPLY:
For more information regarding The EB-5 visa program or CMB’s current investment opportunities, please contact us HERE.
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