Latest news with #EB-5ImmigrantInvestorProgram
Time of India
4 days ago
- Business
- Time of India
Indian EB-5 investors take USCIS to court over ‘unlawful' denial of application
Representative image A group of Indian nationals who collectively invested hundreds of thousands of dollars into the US economy under the EB-5 Immigrant Investor Program (commonly referred to as the investment-linked green card) have sued the head of the US government office overseeing the program, alleging unlawful denial of their applications and failure to implement investor protections mandated by law. The lawsuit, filed in a US District Court (Northern District of California) lists seven plaintiffs—Indian citizens living in California, New York, and India—who invested in a pooled fund managed by the now defunct Texas EB-5 Regional Center. The suit names Alissa Emmel, Chief of the Immigrant Investor Program Office at US Citizenship and Immigration Services (USCIS), as the sole defendant. At the heart of the dispute is the plaintiffs' contention that USCIS failed to honour provisions of the EB-5 Reform and Integrity Act of 2022 (RIA). The Act was passed by the US Congress to shield 'good faith' EB-5 investors from fallout when regional centers or project sponsors failed to comply with program requirements or became defunct. This lawsuit is perhaps the first of its kind following the passage of the RIA. Under the EB-5 route currently an investment of $800,000 for projects in Target Employment Areas (TEAs) - which are rural and high-unemployment areas or for infrastructure projects; or an investment of $1,050,000 in other cases, entitles the investor to a green-card comparatively quickly. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Perdagangkan CFD Emas dengan Broker Tepercaya IC Markets Mendaftar Undo For Indians, caught in a decades long backlog for an employment-linked green card, this route is a quicker option – if they have the money to make the investment required under the EB-5 program. In addition, to the investment, job creation of at least ten local jobs is required. Investments can be made either directly (such as by operating a business) or indirectly via regional centers, which in turn invest in commercial enterprises which initiate specific projects – such as building a hotel. A significant number of investors opt for the regional center route. According to the lawsuit-complaint, the Texas-based regional center failed to pay statutorily required fees and did not file the required annual compliance forms. Under the RIA, such noncompliance should have triggered an automatic termination of the center within 90 days. However, USCIS allegedly took no action until more than a year later—following a separate lawsuit filed by another investor. Because USCIS delayed the termination of the regional center and failed to notify investors as required, the plaintiffs argue they were wrongly denied the opportunity to amend their EB-5 petitions or re-associate with compliant projects—a key protection offered under the RIA. Instead, each of their applications (Form I-526 petitions)—filed between 2019 and 2020—were summarily denied in 2024. The lawsuit states that USCIS violated the Administrative Procedure Act by unlawfully withholding agency action and failing to follow statutory procedures. Beyond the legal claims, the lawsuit-complaint documents personal hardships that the plaintiffs had to bear: missed career opportunities, financial hardship, and emotional distress stemming from prolonged uncertainty. Some have lived in the US for years on temporary visas and were hoping for permanent residency through the EB-5 route. Others, who are in India are unable to plan their futures. One plaintiff, based in California holding an H-1B visa, described the strain of being laid-off and the difficulty in finding suitable employment opportunities without a green card. Owing to his temporary non-immigrant visa status, he also pointed out that it was difficult to travel to India to attend marriages or even funerals. Another plaintiff, based in Santa Clara, said he passed up several career advancement opportunities due to the instability of his immigration status and also put his dream of home-ownership on hold. For plaintiffs still residing in India, the story was similar. Two of the petitioners from Gujarat said they had turned down business opportunities and now faced uncertainty about both professional prospects and personal plans. In their lawsuit-complaint, these plaintiffs submitted that USCIS's inaction undermines Congressional intent behind the 2022 reform, which was specifically designed to prevent immigrant investors from losing their immigration prospects due to failures beyond their control. Despite public USCIS statements that pre-RIA investors are eligible for protections, the plaintiffs say the agency has failed to apply those principles in practice. Alexandra George Santhanam, Associate Attorney at The Galati Law Firm, which is representing these investors, stated, 'Plaintiffs each invested hundreds of thousands of dollars in the U.S. economy. They did everything in their power to apply for permanent residency in good faith. USCIS ignored the duties imposed upon it by Congress. Because of that, their American Dream is now dead. This is an injustice that the Court has the power to address and order the Defendant to remedy. ' Plaintiffs are asking the court to declare USCIS' inaction unlawful, reopen their EB-5 petitions, and provide the written notices necessary to reinvest their capital and continue their immigration processes. The lawsuit may test how seriously US immigration authorities are held to their own statutory obligations—and whether the 'American Dream' that the EB-5 investors were sold can be salvaged by court intervention. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Business Upturn
02-06-2025
- Business
- Business Upturn
First Investor in CMB Regional Centers Daytona Beach Project Receives Green Card Approval
DALLAS, June 02, 2025 (GLOBE NEWSWIRE) — CMB Regional Centers (CMB), one of the most experienced regional center operators in the EB-5 industry, today announced the first approval of a petition for conditional permanent residency in the United States (I-526E petition) by United States Citizenship and Immigration Services (USCIS) for an investor in its Group 84 – Hillwood Daytona BTS project. The I-526E petition is filed by an individual seeking a green card through the EB-5 Immigrant Investor Program, with approval signifying the eligibility of the investor and their immediate family members for conditional permanent residency in the United States. 'This first approval of an I-526E petition is a significant milestone for our business and, most importantly, for the investors and families who have entrusted us with a critical step in their immigration journey,' said Noreen Hogan, President at CMB. 'We are thrilled for this investor and look forward to additional USCIS approvals in the near future.' The CMB Group 84 EB-5 partnership lent $79.2 million to a Hillwood Development Company-affiliated entity for the construction of a Daytona Beach (Florida) build-to-suit logistics facility for a Fortune 500 tenant. CMB and Hillwood Development Company (Hillwood) have cultivated one of the most successful EB-5 lender-borrower relationships in the EB-5 space, with over 40 EB-5 projects and more than $500 million in EB-5 loan repayment to investors. CMB and Hillwood have generated significant traction over the past year with regard to record-setting speed for approvals of their EB-5 collaborations, far outpacing the USCIS-reported 13 months (for 80% of cases) for I-956F petitions: CMB Group 89 – Hillwood City Creek (I-956F approved in 39 days) CMB Group 86 – Gable House Apartments (I-956F approved in under five months) CMB Group 90 – Hillwood Treeline (I-956F approved in just over six months) CMB Group 93 – Coachella Valley (I-956F approved in three months) CMB Group 98 – Hillwood Commerce 71 (I-956F approved in under three months) About CMB Regional Centers CMB has been a leader in the EB-5 industry for over 28 years, with its first regional center designation approved in 1997. Since then, CMB has assisted over 6,600 investor families, from over 100 countries, in their pursuit of immigrating to the United States. CMB currently maintains a 100% project approval rate on all partnerships that have undergone USCIS adjudication. To date, CMB has repaid over $1.4 billion USD to investors. To learn more, contact CMB directly at [email protected]. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Yahoo
02-06-2025
- Business
- Yahoo
First Investor in CMB Regional Centers Daytona Beach Project Receives Green Card Approval
I-526E petition for conditional green card adjudicated 7 months after EB-5 project approved by USCIS DALLAS, June 02, 2025 (GLOBE NEWSWIRE) -- CMB Regional Centers (CMB), one of the most experienced regional center operators in the EB-5 industry, today announced the first approval of a petition for conditional permanent residency in the United States (I-526E petition) by United States Citizenship and Immigration Services (USCIS) for an investor in its Group 84 – Hillwood Daytona BTS project. The I-526E petition is filed by an individual seeking a green card through the EB-5 Immigrant Investor Program, with approval signifying the eligibility of the investor and their immediate family members for conditional permanent residency in the United States. 'This first approval of an I-526E petition is a significant milestone for our business and, most importantly, for the investors and families who have entrusted us with a critical step in their immigration journey,' said Noreen Hogan, President at CMB. 'We are thrilled for this investor and look forward to additional USCIS approvals in the near future.' The CMB Group 84 EB-5 partnership lent $79.2 million to a Hillwood Development Company-affiliated entity for the construction of a Daytona Beach (Florida) build-to-suit logistics facility for a Fortune 500 tenant. CMB and Hillwood Development Company (Hillwood) have cultivated one of the most successful EB-5 lender-borrower relationships in the EB-5 space, with over 40 EB-5 projects and more than $500 million in EB-5 loan repayment to investors. CMB and Hillwood have generated significant traction over the past year with regard to record-setting speed for approvals of their EB-5 collaborations, far outpacing the USCIS-reported 13 months (for 80% of cases) for I-956F petitions: CMB Group 89 – Hillwood City Creek (I-956F approved in 39 days) CMB Group 86 – Gable House Apartments (I-956F approved in under five months) CMB Group 90 – Hillwood Treeline (I-956F approved in just over six months) CMB Group 93 – Coachella Valley (I-956F approved in three months) CMB Group 98 – Hillwood Commerce 71 (I-956F approved in under three months) About CMB Regional Centers CMB has been a leader in the EB-5 industry for over 28 years, with its first regional center designation approved in 1997. Since then, CMB has assisted over 6,600 investor families, from over 100 countries, in their pursuit of immigrating to the United States. CMB currently maintains a 100% project approval rate on all partnerships that have undergone USCIS adjudication. To date, CMB has repaid over $1.4 billion USD to investors. To learn more, contact CMB directly at info@
Time of India
02-06-2025
- Business
- Time of India
Why Indians are banking on the EB-5 visa for the US? The golden path to green card and who is eligible for it
The EB-5 Immigrant Investor Program offers a path to US permanent residency for foreigners who invest at least $800,000 in American businesses, creating jobs. It attracts Indian professionals and students seeking alternatives to student visas. Challenges include long waiting times and a high investment threshold, with potential changes on the horizon. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The EB-5 Immigrant Investor Program is a US government initiative designed to encourage foreign investment in American businesses that create jobs. Established in 1990, the program allows eligible investors to obtain a Green Card permanent residency ) by making a significant financial investment in the United States To qualify for an EB-5 visa, a foreign investor must invest at least $800,000 (approximately INR 7 crore) in a qualifying US business, according to a report by The Times of India. This investment usually takes place in Targeted Employment Areas (TEAs), which are rural locations or areas with high unemployment rates. The key requirement is that the investment must create or preserve at least ten full-time jobs for American have two main options: they can invest directly in a business or go through a regional centre authorised by the US Citizenship and Immigration Services (USCIS). These regional centres manage economic development projects and make it easier for investors to meet job creation foreign national willing to make the required investment and meet the job creation criteria is eligible to apply. The program also allows investors to include their spouse and unmarried children under 21 years of age in the application, offering a path to permanent residency for the entire per the TOI report, recent tightening of student visa regulations by the US government has led many Indian students and professionals to seek alternative routes to permanent residency. EB-5 offers a more secure and direct path, especially for those concerned about the uncertainty surrounding traditional student receives about 700 EB-5 visas per year, which can lead to long waiting times and backlogs. The high investment threshold means the program is accessible mostly to high-net-worth individuals. Additionally, the US government has proposed a new " Gold Card " program that would require a $5 million investment but eliminate the job creation requirement. This proposal is still pending EB-5 visa remains a key option for Indian nationals seeking permanent residency in the US, especially as immigration policies evolve. Prospective applicants are advised to consult immigration experts to understand the program's requirements and plan their applications effectively.(With inputs from TOI)
Time of India
02-06-2025
- Business
- Time of India
Why Indians are turning to EB-5 Visa for the US: What it is and who is eligible
As the Trump administration tightens limitations on student visas, more Indian professionals and students are considering the EB-5 visa as a different route to permanent residency in the United States. The EB-5 Immigrant Investor Program was created in 1990 and permits foreigners to get a Green Card by investing in US businesses that create jobs. A minimum investment of $800,000 (about INR 7 crore) in a qualifying US business is required for the EB-5 visa, especially in Targeted Employment Areas (TEAs) that are rural or have high unemployment rates. The investment should at least create ten full-time employment for American workers. Applicants have the option of investing directly or through regional centres authorised by USCIS that oversee economic development projects. Read more: World's 10 tallest waterfalls that will take your breath away The tightening of US immigration policies has led to a significant surge in EB-5 visa applications from Indian nationals. Immigration lawyers report a 100% increase in applications from Indian students over the past few months. This uptick is largely driven by concerns over the stability of student visas and the desire for a more secure and direct route to permanent residency. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Soluções de energia de confiança para Data Centers de IA Siemens Energy Learn More Undo Investors can include their spouse and unmarried children under 21 in their application, in addition to the EB-5 visa offering a route to a Green Card. This option makes it an appealing option for families seeking long-term stability in the United States. Nonetheless, there are certain challenges associated with the program. According to reports, India gets roughly 700 EB-5 visas annually, which might lead to backlogs and lengthy application wait times. Due of the high cost demand, high-net-worth individuals are likewise limited in their access. Reports add that the Trump administration has responded to these restrictions by proposing a new "Gold Card" immigration program that would do away with the job creation requirement in exchange for a $5 million investment. This program aims to attract more affluent investors, but it has not yet received congressional approval and is uncertain legally. Read more: Schengen Visa for Indian passport holders: Application, cost, timeline & tips Despite these modifications, Indian people who wish to settle permanently in the US should still consider the EB-5 visa, especially in light of the nation's current immigration regulations and political climate. As the situation continues to evolve, potential applicants are encouraged to consult with immigration specialists to manage the complexities of the EB-5 program and determine the best paths to achieving their residency goals. One step to a healthier you—join Times Health+ Yoga and feel the change
