Download - Regional Center EB-5 Applications
Regional Center EB-5 ApplicationsRegional Center EB-5 Applications
The EB-5 ProgramThe EB-5 Program
Permanent U.S. Residency forFOREIGN 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 10017215.825.8600 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.
Klasko, Rulon, Stock & Seltzer, LLP
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
Klasko, Rulon, Stock & Seltzer, LLP
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
Klasko, Rulon, Stock & Seltzer, LLP
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
Klasko, Rulon, Stock & Seltzer, LLP
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)
Klasko, Rulon, Stock & Seltzer, LLP
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
Klasko, Rulon, Stock & Seltzer, LLP
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)
Klasko, Rulon, Stock & Seltzer, LLP
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
Klasko, Rulon, Stock & Seltzer, LLP
Documenting Lawful Source of Funds
Investments Copies of accounts
3 years or more Bank statements
Business documents Business registration documents Ownership documents Dividend records Business sale documents
(cont’d)
Klasko, Rulon, Stock & Seltzer, LLP
Documenting Lawful Source of Funds
Real estate Purchases and sales
Deeds Mortgages Appraisals Settlement Transfer of proceeds
Rental income Leases
(cont’d)
Klasko, Rulon, Stock & Seltzer, LLP
Documenting Lawful Source of Funds
Employment Contracts Company wage documents Company letter Resume and educational documents Professional licenses
(cont’d)
Klasko, Rulon, Stock & Seltzer, LLP
Documenting Lawful Source of Funds
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)
Klasko, Rulon, Stock & Seltzer, LLP
Tracing of Funds Transferred to Regional Center
Must document all transfers from investor’s account to regional center’s account
Klasko, Rulon, Stock & Seltzer, LLP
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
Klasko, Rulon, Stock & Seltzer, LLP
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)
Klasko, Rulon, Stock & Seltzer, LLP
Sources of Information
www.eb5immigration.com www.uscis.gov
Klasko, Rulon, Stock & Seltzer, LLP
Questions?Questions?
Klasko, Rulon, Stock & Seltzer, LLP
For Further Information
H. Ronald Klasko, Esq.Klasko, Rulon, Stock & Seltzer, LLP
215-825-8600 (Philadelphia)
212-796-8840 (New York)
www.klaskolaw.comwww.eb5immigration.com