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My EB-5 success: Times is ticking, act fast!

Discussion in 'EB5 - Investment-based green card' started by NS86, Mar 3, 2017.

  1. NS86

    NS86 New Member

    Hello all,

    I am an EB-5 investor, who got my green card. As most of you know there is a rule change on April 28th regarding the capital investment. I have seen some posts about which RC/Project you want to invest in. If you currently are anxious about investing in EB-5 program, please feel free to shoot me a message. I can explain to you the process in detail, and connect you with a firm who does due diligence for EB-5 projects.

    P.S.: For those serious in investing in EB-5 , caution the time is running out.
     
  2. imneo

    imneo New Member

    I have some questions if you can help.
    Can I borrow money from private lander with my own home which is not equal to borrowing money.
    Thanks
     
  3. NS86

    NS86 New Member

    You may use a loan, but it must be secured by your personal assets i.e. you must prove you have the required collateral. A simple google search, would have answered you that. All Investment capital is declared as "at-risk" i.e. it must be be from income from Cash (bank), Equipment, Property, Inventory etc. Remember regardless if the money comes from you or a third-party as a gift the applicant must be able to prove in cases such as TEA (where majority of the population is < 150% of the Poverty Line) that they have sufficient funds not only to cover the investment capital but also if the project fails i.e. you must further prove that you have assets worth at least up to 1M$, to cover the "at-risk" loss. In short, funds can be borrowed, but you must be personally liable and have sufficient assets to cover the investment so that the guarantee is not less than 100 percent coverage.

    I would strongly suggest checking for basic qualifications readily available on the internet, get a due diligence on a project and possibly have someone vet you as accredited investor. Please do not invest in projects, where people talk like "car-salesman." Remember the IPO isn't designed to "sell" green cards, the main aim is to make a bonafide investment in a NCE (New Commercial Enterprise), which yields 10 jobs to American Citizens.

    If you have any further questions I will be happy to answer them.
     
  4. sujan173

    sujan173 New Member

    For anyone interested, I have an Eb5 property ready to sell. Its a gas station with property, I have the TEA certificate. Please let me know if any one is interested. My email is saberarion@gmail.com.

    Thanks,
    Sujan
     
  5. sharadov77

    sharadov77 New Member

    Hi NS86 - How long did it take you from start to finish to get the GC? I am asking for a breakdown of the time to get a provisional, the time for the I-526 to get approved etc?
     
  6. NS86

    NS86 New Member

    I had filed my I-526 petition in late 2014, and at that time there wasn't that much of a backlog, since the visa cap of 10,000 wasn't reached yet, and the I-485 progress was completed in a timely manner ~ 4 months. Given that the investors started making a push for investments in 2017, there has been major delays in approvals during the I-526 stage, and given the retrogression (if you are a Chinese National) some are projecting that if you were to file now - the wait could be as long as 10 years.
     
  7. sharadov77

    sharadov77 New Member

    Thanks. Just for clarity, once you had the I 485, were you able to legally work/run a business in the US. I mean is that also the time when you get a provisional GC. I am an Indian national so not limited by the CAP. Also when you file the I 526 do you already need to have a regional centre for investment determined or you just need to show the funds for investment.
     
  8. NS86

    NS86 New Member

    Let me answer the first part. Yes you (and if you have a spouse or children) are given a conditional green card/LPR/I-551 (valid for 2 years) after your I-485 AOS (Adjustment of Status) is adjudicated. Once your case is adjudicated you gain Lawful Permanent Residency, and yes you can live/work/register a business/travel and also apply for most benefits reserved for US Citizens (barring voting, jury duty, Federal Govt. Jobs which need clearance which requires you to be a US Citizen, etc.). You have 90 days before your conditional LPR expires to apply for I-829 to remove conditions. Once you file the form, and get the receipt you make an appointment with your local USCIS office to get your passport stamped for I-551, so that you can prove you are still a LPR albeit currently waiting for conditions to be removed.

    Now to your second part, yes you HAVE to show USCIS you have committed to a project (New Commercial Enterprise) managed by a regional center or in the case of a direct investment, to provide proof that you have invested money in an NCE. Remember, you have to show a signed contract and bank details of wire transfers providing proof of your commitment that you have transferred the required capital towards an NCE i.e. you have transferred the principal capital into an escrow account. During the filing of your I-526 case, you need to SHOW bank records (dating 5 years) that the principal you invested was lawfully attained and transferred (i.e. to an escrow account which will later be used to fund the NCE). Until your I-526 is approved your funds sit in an escrow account. Once the I-526 is approved, the bank which manages the escrow, transfers the principal to the regional center, and in the case of a denial the principal is returned back to you. Merely showing proof that you "have funds" for investment is impossible as you can't even fill the I-526 form without details of the NCE or the Regional Center.

    Please note, I am not an immigration attorney. I am just an investor, so I would strongly advise you to contact a reputed immigration law firm who has business attorneys who handle such kind of cases. Eb-5 is an extremely complicated process, and I would suggest that you get the right advise from the right people before making a decision. You can PM me if you want, I can get you in touch with a due diligence firm that handles and provides economic reports about EB-5 projects. They will also "vet" you to see if you are an accredited investor. I strongly suggest you do that before contacting a regional center.
     
    Last edited: Sep 3, 2017
  9. sharadov77

    sharadov77 New Member

    Thanks for the detailed answer.
    Let's say your I526 is approved. How long does it take from that point to get the I485 and then the provisional GC? It will be a great help if you can get me in touch with a due diligence firm.
     
  10. NS86

    NS86 New Member

    You file for I-485 as soon as you get the I-526 approval receipt from USCIS. Also, once your I-485 is approved, you become an LPR, your card will mailed to you approximately in a week. Currently the I-526 processing times are long since the number of applications exceeded the visa cap. Also, I can't tell you how long the I-485 takes, some people get in 2-4 months, some 6 months, some even hate to wait a year. I will PM you the firm.
     
    Last edited: Sep 3, 2017
  11. sharadov77

    sharadov77 New Member

    Can you please also provide me with a reference to the law firm who handled your application?
     
  12. NS86

    NS86 New Member

    Thank you, but please note as a disclaimer that I am not an attorney, and my communications are for informational purpose from my personal experience only and not for the purpose of providing legal advice.

    Good luck with your research.
     
    Last edited: Sep 3, 2017
  13. vishesh

    vishesh New Member

    hello ns86,

    can u plz connect me with ur agent managing ur EB5 Visa

    thanks
     
  14. EB-5 Daily

    EB-5 Daily New Member

    After I-526 approval, the qualified immigrant investor can apply for a visa as soon as one is available and their application has been processed by the Department of State (for example, for Chinese applicants, there is a waiting list for available visas). If a visa is available, and the immigrant investor is already lawfully in the United States on a non-immigrant visa, they may have the opportunity to adjust their status.
     

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