USCIS reverses decision to shut down Vermont EB-5 Regional Center — Green Card hopes for defrauded Jay Peak investors?
The state-run regional center associated with the biggest EB-5 fraud ever has been reinstated after being shut down in 2018. A Vermont state official calls this “good news” as it may allow for the possibility of at least 600 defrauded investors being eligible for Green Cards.
AN EB-5 OFFERING IS AN INVESTMENT IN A PRIVATE PLACEMENT OF SECURITIES CREATED SPECIFICALLY FOR APPLICANTS TO THE UNITED STATES CITIZENSHIP AND IMMIGRATION SERVICES ("USCIS") FIFTH PERMANENT WORKER VISA PREFERENCE ("EB-5 PROGRAM") AND ARE SPECULATIVE INVESTMENTS INVOLVING A HIGH DEGREE OF RISK. INVESTORS MUST BE PREPARED TO BEAR THE ECONOMIC RISK OF SUCH AN ILLIQUID INVESTMENT FOR A LONG PERIOD OF TIME AND BE ABLE TO WITHSTAND A TOTAL LOSS OF THEIR INVESTMENT. THERE IS NO GUARANTEE THAT AN INVESTOR'S EB-5 APPLICATION WILL BE APPROVED BY THE USCIS. SEE OFFERING DOCUMENTS FOR COMPLETE DETAILS.
EB-5 private placement investments have a holding period of at least five to seven years and are generally illiquid. The immigrant investor would make such an investment with the placement issuer while simultaneously submitting, typically through their immigration attorney, the EB-5 application to the USCIS.
eb5Marketplace provides information about EB-5 investments throughout the United States that are offered pursuant to the EB-5 program administered by the U.S. Citizenship and Immigration Services (“USCIS”). "EB-5 investments" refer to a type of private placement investment made in the EB-5 Program. Under this program, investors (and their spouses and unmarried children under 21) are eligible to apply for a Green Card (permanent residence) if they: Make the necessary investment in a commercial enterprise in the United States; and Plan to create or preserve 10 permanent full-time jobs for qualified U.S. workers. This program is known as EB-5 for the name of the employment-based fifth preference visa that participants receive. The required standard minimum investment amount of $1 million and the minimum investment amount for investment in a Targeted Employment Area (TEA) of $500,000. To learn more,
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