World Journal Weekly Q & A - November 27, 2011

Q & A 1. 2.


Q&A 1.

Potential Immigrant Investor Wants Assurance that He Will Finally Get the Green Card and At Least Most of His Money Back. How Can These be Guaranteed?

A potential immigrant investor asks:

I've heard about the U.S. investor program for immigration and am willing to participate.  Whether $500,000 or $1 million, I can put up the money, but want to be assured that I will get the green card and that I will at least get most of my money back. 

Dear reader:

In EB-5 investment cases, you can either invest with a regional center in which most investments are $500,000, or have your own individual investment for which the amount is usually $1 million unless your investment is in an area which has 150% of the national average of unemployment or you are outside a metropolitan statistical zone or 20 miles outside a city or town with at least 20,000 people.  With a regional center, you generally cannot control your money.  With an individual investment, you can control the path of your investment.  If you wish to be assured that you can get your money back from a regional center program, please note that U.S.C.I.S. will currently allow you to obtain insurance on the funds from a third-party insurance carrier, e.g. Lloyd's of London.  You would of course have to pay the insurance premiums.  Insofar as getting the green card is concerned, no one can give you a blanket assurance that such will occur.  According to U.S.C.I.S. statistics for the first 3 quarters of fiscal year 2011 (10/1/10-6/30/11), the approval rate of  I-526 immigrant investor petitions was 82%, and the approval rate on I-829 petitions to remove the conditional basis of permanent residence was 93%.  Lately the Obama administration has taken steps to make the program more friendly by promising in regional center cases to give the accelerated premium processing option to "shovel-ready" cases which are supported by specific business plans and economic analysis, actual capital-investment structures and documentation for the investment offering, anticipated regional economic impacts, and the regional center's operating plan and structure; to have specialized intake teams handle the initial intake and review of I-924 applications for regional center approval, and giving an enhanced decision process for I-924 applications with an option for in-person or telephonic interview.  I-526 petitions based on "shovel-ready" I-924 applications are to be eligible for premium processing under which U.S.C.I.S. will reach the petition for processing within 15 days instead of the usual five-six months upon payment of an additional $1,225 fee.  The latest news on premium processing, however, indicates that this is still months away and new I-924 applications only will be the first to be given the option.



Q&A 2.

Reader Asks the Best Way to Handle Final Phase of Immigration to Accommodate Husband Staying in China With a Good Position When She Herself May Be Sent Overseas Soon by Petitioning Company.

I am here under H-1B status and my EB-3 labor certification case with I-140 approval will soon be current on the date.  I can then apply for the final step of my green card. My husband, however, is successful in China and needs to stay there as long as possible.  Also my company may ask me to relocate to China six months after I get my green card. I want my husband to get the green card with me.  How can I do that with as little inconvenience to him as possible? 

Dear reader:

There are three possible ways that your husband can get his green card with you.  The first is that he comes to the U.S. under H-4 status and you both adjust status to permanent residence in the States.  The second is that you both interview for the green card together in the American consulate in Guangzhou.  The third is that you adjust status in the U.S., have paperwork sent back overseas to the consulate in Guangzhou, and your husband can interview with the consulate.  The first appears to be the best option because he could come into the U.S., file for adjustment of status, and be allowed to travel back and forth during the time that the adjustment of status is pending with his H-4 visa.  In the second scenario, you would likely have to file an I-824 petition to have the I-140 petition approval sent overseas if you already indicated on the I-140 form that you intended to adjust status in the States.  You would then consular process all your paperwork along with your husband's and ultimately interview together in Guangzhou.  I do note that it may take a year to have the I-824 petition and consular processing completed.  The third option would entail your adjusting status first in the States, which would typically take at least six months from the date that the priority date becomes current and the I-485 adjustment of status application is filed, and then the transmittal of notification of your permanent residence status from U.S.C.I.S. via I-824 form to the American consulate in Guangzhou and consular processing, a procedure which could take another year to complete. 

Given your timeline and that your company may send you overseas six months after obtaining your permanent residence, the quickest and best option appears to be the first.

 

Copyright © 2003-2012 Alan Lee, Esq.
The information provided here is of a general nature and may not apply to any particular set of facts or circumstances. It should not be construed as legal advice and does not constitute an engagement of the Law Office of Alan Lee or establish an attorney-client relationship.