Updates from September 9, 2014, USCIS stakeholder conference (with IPO Director, Nicolas Colucci)
|
|
- Lilian Marsh
- 8 years ago
- Views:
Transcription
1 Updates from September 9, 2014, USCIS stakeholder conference (with IPO Director, Nicolas Colucci) IPO Processing updates; Escrow holdback provisions; EB-5 Insurance; Structuring Case Studies; China quota impact and strategies.
2 WOLFSDORF ROSENTHAL LLP 20 lawyers offering full service global immigration mobility services Offices in Santa Monica, CA and New York, NY. Bernard Wolfsdorf is the Who s Who Legal Immigration Lawyer of the Year for 2014, 2013, 2012, 2011 and 2010 (Who s Who is the Official Research Partner of ABA Int l Law Section). Bernard Wolfsdorf is past President of the 14,000 lawyer American Immigration Lawyers Association (AILA). Member of ABIL, a Global Alliance of Business Immigration Lawyers with 35 top immigration law firms, and over 1,200 professionals providing highest standards of care and legal ability. Operates in 40 gateway cities throughout the world, providing comprehensive personalized coverage available. Allows us to offer full immigration services in over 100 countries. Bernard@Wolfsdorf.com Los Angeles VISA LAW New York City 2
3 Disclaimer This presentation is designed to provide practical and useful information on the subject matter covered. However, it is provided with the understanding that no legal, tax, accounting, or other professional services are being rendered or provided. If legal advice or other expert assistance is required, the services of a competent professional should be sought.
4 Immigrant Investor Program Office (IPO) Updates from September 9, 2014, USCIS stakeholder conference with IPO Director, Nicolas Colucci and Staff; IPO has 83 staff members goal is to hire 110 by end of year I 829 applications transitioning to IIPO on 9/30/14 Processing Times as of July 31, 2014 I 526 = 13.3 months I 829 = 7.6 months I 924 = 7.1 months BUT, adjudications are grouped together based on project, not necessarily first in first out (FIFO) IPO tries to have the same officers on each NCE to the extent possible to improve efficiencies IPO office will be moving but for now, the filing and address remains the same
5 Immigrant Investor Program Office (IPO) USCIS has substantially increased adjudication action. In July 2013, USCIS took 300 actions on I 526 Petitions and in July 2014, it took 1,200 actions, an increase of 400% in one year. However, there has been a substantial increase in receipts of I 526 Petitions. In the first eight months of the calendar year 2014, USCIS received approximately 8,000 I 526 Petitions In July 2014, 1,200 alone. Even if this declines to 1,000 a month with about an 80% approval rate, will need over 25,000 visas to meet this demand.
6 Regional Center Reporting Regional Centers must file Form I 924A each calendar year between October 1 and December 29 to demonstrate a regional center s continued eligibility. Information updates USCIS with about the RC s activity USCIS issued 53 Notices of Intent to Terminate (NOITT) to RC s last year 29 were to RC s that did not file I 924A 24 were issued for other reasons If inactive for prior year, it is important to include a statement explaining how the RC plans to further economic development
7 Portfolio Investments USCIS confirmed its policy of allowing portfolio investments by a NCE into which the EB 5 investor places his capital. USCIS said it would evaluate two related questions: What level of business plan is needed for each entity, do they all need to be Matter of Ho compliant and fully established at time of filing? How much flexibility is there in the types, industries, capital requirements, and geography is there? USCIS has required a full business plan for each JCE in the I 526 that each investor, whose funds and claim for job creation credit, will be dispersed among multiple JCEs. This is not very helpful as most venture capital funds focus on providing serial, not parallel, investments.
8 Escrow Holdback Provisions Escrow holdback provisions may be permissible. USCIS appeared to indicate funds may be fungible once invested into the NCE. Did not address the at risk issue or the issue that arises at the I 829 Petition stage with certain holdbacks. However, the investor must show funds were deployed to the job creating entity. Where the NCE is providing a loan to the JCE, the I 829 Petition must trace each investor s funds from the time they are deposited into the NCE and then deployed into the JCE. If an investor s funds are deposited into the NCE and then later used to repay a denied investor, that investor would be unable to demonstrate the funds were made available to the JCE.
9 Escrow Holdback Provisions There was discussion of a recent case involving an I 924 with an exemplar with a hold back escrow structure that was ultimately approved. Petitioner s contribution was split and held in two escrow accounts. On filing the I 526, the funds were released to NCE and loaned to JCE. Hold back account was structured to be refunded on denial of I 526 or released to NCE upon, earlier of I 526 approval or, denial of another I 526 petitioner s I 526. When contributed to NCE, capital credit received such that on approval of I 526 would have contributed minimum amount of capital required.
10 Escrow Holdback Provisions While this case was approved, there are concerns as the USCIS IPO questioned a common. NCEs that undertake to find "replacement investors" need to take care to have the replacement investors place their capital into the NCE so it is the NCE itself that refunds the other investor Caution against taking in new funds only to escrow, and then refunding from there.
11 Bridge Financing Replacement of bridge loans should have been contemplated prior to financing. If financing to be replaced was planned as temporary, EB 5 financing can still get credit for job creation through the use of the bridge financing This is a fact based determination
12 Bridge Financing Question: What if any limits on bridge financing should investors know about? The May 30 memo does not mention any temporal or other limits on using EB 5 funds to repay bridge financing. For instance, the USCIS response to the recent Office of Inspector General (OIG) report stated that USCIS has denied and will continue to deny cases where a project is already completed and circumstances do not warrant attribution of jobs to a proposed late stage investment. This concept was not mentioned in the memo. What is it that must have occurred before a project is completed? Subscription of the EB 5 investment? Form I 526 filing? It seems inappropriate to require Form I 526 approval before project completion, because investors cannot know how long Form I 526 adjudication can take, and sometimes it takes years longer than most projects, and such a policy would undermine the entire purpose of a bridge loan. Likewise, is there any particular EB 5 related event that must have occurred before bridge financing is advanced for EB 5 funds to be allowed to replace such financing?
13 Bridge Financing Response: Generally, the replacement of bridge financing with EB 5 investor capital should have been contemplated prior to acquiring the original non EB 5 financing. However, even if the EB 5 financing was not contemplated prior to acquiring the temporary financing, as long as the financing to be replaced was contemplated as short term temporary financing which would be subsequently replaced, the infusion of EB 5 financing could still result in the creation of, and credit for, new jobs. Consistent with the policy as set forth in the May 30, 2013, policy memorandum, the focus is on the nature of the underlying financing in order to determine that the financing to be replaced by the EB 5 funds is truly bridge or temporary financing or if the EB 5 funds are being used to merely refinance longer term debt. If the underlying financing was bridge financing, which is a fact based determination based on the terms of the underlying financing and the circumstances surrounding the use, application, and plan at the time the financing was obtained to replace it with other longer term financing such as EB 5 funds, then jobs created through the use of the bridge financing could still be credited to the EB 5 investors. However, if the petitioner fails to establish that it is more likely that the EB 5 funds are being used to replace bridge or temporary financing, then jobs created through the use of the prior financing would not be credited to the EB 5 investors. For example, if the EB 5 funds are being used to refinance debt initially contemplated as longer term debt. Replacement of bridge loans should have been contemplated prior to financing. If financing to be replaced was planned as temporary, EB 5 financing can still get credit for job creation through the use of the bridge financing. This is a fact based determination.
14 Redemption Options Can a developer have an option to redeem an investment at a certain price, as long as the investor does not have the option? Petitioner must prove: There is a risk of loss and chance of gain There is no promise or guarantee to return or redeem any portion of the minimum required investment amount
15 Redemption Options Question: Is there any problem if the developer has the option to redeem an investment at a fixed amount (or provide a property in addition to or in lieu of a dollar return), as long as it is not an option of the investor? Response: The answer will depend on the specific facts involved and the terms of any agreement. As noted in the May 30, 2013 policy memo, if the immigrant investor is guaranteed the return of a portion of their investment, or is guaranteed a rate of return on a portion of their investment, then the amount of the guaranteed return is not at risk. Thus, IPO will review the evidence to determine: If there is a risk of loss and a chance for gain, and Whether there is a promise to return or redeem some portion of the minimum required investment amount. Depending on the terms of the agreement there may be questions relating to whether the investor has the potential for gain if the agreement does not represent a promise or guarantee that diminishes the contribution of capital below the minimum required amount.
16 Non Profit Projects New commercial enterprise ( NCE ) must be a for profit entity However, NCE may loan funds to a not for profit job creating entity ( JCE ) Petitioner must prove: The NCE is engaging for profit activity Invested funds are placed at risk, for purpose of generating a return Investment into NCE is likely to result in requisite job creation
17 Non Profit Projects Question. An investor approached one of our clients expressing interest in investing in a public works project, but the information supplied on the EB 5 website seems to indicate that a commercial enterprise connected with an EB 5 investor must be for profit activity. Does this preclude a public works project? Response: According to 8 C.F.R (e), the new commercial enterprise is required to be a for profit entity. In cases where an investor may claim indirect job creation through an investment into a new commercial enterprise associated with a regional center, the actual job creating entity (JCE) may be separate from the new commercial enterprise. The new commercial enterprise may pool investor funds to be loaned to a separate not for profit JCE, such as an entity undertaking a public works project. However, the petitioner will still be required to demonstrate, among other requirements, that: The new commercial enterprise itself is engaging in for profit activity, The invested funds are placed at risk for the purpose of generating a return, and That the investment into the new commercial enterprise is likely to result in the requisite job creation.
18 Deference Deference is provided to Regional Centers with actual projects This means that an I 924 based on an actual project but does not include an exemplar but does include a Matter of Ho compliant business plan, USCIS will defer to the determination in the future
19 Hypothetical Projects What is required for a RC application based on a hypothetical project? Reasonably credible business plan with market feasibility analysis, cost estimates, & timeline for construction may be enough Still need verifiable detail re: job creation Sample projects are only presented to show: types of projects RC may use to create jobs, and range of assumptions acceptable as inputs into economic modeling No deference given
20 Regional Center Geographic Range Standard is whether the RC can show, by preponderance of the evidence, that the proposed economic activity will promote economic growth in the area Fact specific inquiry Suggested evidence that the area will contribute to the supply chain and labor pool of proposed projects
21 Regional Center Geographic Range Question. What is the standard for determining the geographic range of a regional center? This is particularly critical when regional centers (RCs) can sponsor projects/investors outside their approved area, as there needs to be reasonable predictability for investors whether the expansion will be considered approvable in the context of Form I 526 petitions. Is the standard more flexible in the expansion context than in initial filing? Response: The standard for determining the geographic area of a regional center is the same regardless of when or how that regional center geographic request is submitted. USCIS will review the proposed geographic area of a regional center and will deem it acceptable if the applicant can establish by a preponderance of the evidence that the proposed economic activity will promote economic growth in the proposed area. The question is a fact specific one and the law does not require any particular form of evidentiary showing, such as a county bycounty analysis. In USCIS s experience, the reasonableness of a regional center s proposed geographic area may be demonstrated through evidence that the proposed area is contributing significantly to the supply chain, as well as the labor pool, of the proposed projects.
22 Regional Center Expansion A regional center may operate outside of its geographic area of operations, as long as the area is contiguous to the approved region
23 USADVISORS Escrow Because of the delays in adjudicating the investor petitions, many investments have eliminated escrow completely or have implemented a modified escrow Structures seen: None Partial (% held in reserve) conditional on: % of completed funding (ie. 50% completed funding releases the first 25% in escrow) approval of the I-924 or the first I-526 triggers the release of % of funds in escrow other event or trigger releases % of capital in escrow account Personal guarantees (from GPs, Principals) v. a reserve account Full (less than 10%) Caution: the investor must be careful with the redemption guarantees involved in the escrow agreements as they could be seen to be violating the EB-5 at risk provisions EB-5 PROJECT RISK ANALYSIS & DUE DILIGENCE Prepared by Michael Gibson USAdvisors.org CRD #
24 USADVISORS Example of redemption guarantee which appears to violate USCIS at risk provisions (not SEC rules). Investor must be careful that both escrow and return of capital schemes do not violate USCIS s at risk provision. EB-5 PROJECT RISK ANALYSIS & DUE DILIGENCE Prepared by Michael Gibson USAdvisors.org CRD #
25 USADVISORS EB-5 PROJECT RISK ANALYSIS & DUE DILIGENCE Prepared by Michael Gibson USAdvisors.org CRD #
26 USADVISORS EB-5 PROJECT RISK ANALYSIS & DUE DILIGENCE Prepared by Michael Gibson USAdvisors.org CRD #
27 USADVISORS EB-5 PROJECT RISK ANALYSIS & DUE DILIGENCE Prepared by Michael Gibson USAdvisors.org CRD #
28 USADVISORS EB-5 PROJECT RISK ANALYSIS & DUE DILIGENCE Prepared by Michael Gibson USAdvisors.org CRD #
29 USADVISORS EB-5 PROJECT RISK ANALYSIS & DUE DILIGENCE Prepared by Michael Gibson USAdvisors.org CRD #
30 USADVISORS EB-5 PROJECT RISK ANALYSIS & DUE DILIGENCE Prepared by Michael Gibson USAdvisors.org CRD #
31 USADVISORS EB-5 PROJECT RISK ANALYSIS & DUE DILIGENCE Prepared by Michael Gibson USAdvisors.org CRD #
32 USADVISORS EB-5 PROJECT RISK ANALYSIS & DUE DILIGENCE Prepared by Michael Gibson USAdvisors.org CRD #
33 USADVISORS EB-5 PROJECT RISK ANALYSIS & DUE DILIGENCE Prepared by Michael Gibson USAdvisors.org CRD #
34 USADVISORS EB-5 PROJECT RISK ANALYSIS & DUE DILIGENCE Prepared by Michael Gibson USAdvisors.org CRD #
35 USADVISORS EB-5 PROJECT RISK ANALYSIS & DUE DILIGENCE Prepared by Michael Gibson USAdvisors.org CRD #
36 USADVISORS EB-5 PROJECT RISK ANALYSIS & DUE DILIGENCE Prepared by Michael Gibson USAdvisors.org CRD #
37 USADVISORS EB-5 PROJECT RISK ANALYSIS & DUE DILIGENCE Prepared by Michael Gibson USAdvisors.org CRD #
38 USADVISORS EB-5 PROJECT RISK ANALYSIS & DUE DILIGENCE Prepared by Michael Gibson USAdvisors.org CRD #
39 USADVISORS Bernie & Jor, You have been challenged by me to take the ALS Ice Bucket Challenge! EB-5 PROJECT RISK ANALYSIS & DUE DILIGENCE Prepared by Michael Gibson USAdvisors.org CRD #
40 USADVISORS This presentation has been prepared by: USAdvisors.org a Registered Investment Advisory Firm FINRA CRD # Michael Gibson EB5Info.com michael@usadvisors.org Skype: usadvisors EB-5 PROJECT RISK ANALYSIS & DUE DILIGENCE Prepared by Michael Gibson USAdvisors.org CRD #
41 Hot Topics in EB-5 September 24, 2014 Structuring Case Studies Presented by: Jor Law, Esq. Corporate Law -- Securities Law -- Business Transactions EB-5
42 Loan vs Equity Direct vs Indirect Structures Escrow (or lack thereof) Redemption Org charts Required documents
43 Case Study #1 Immigrant investor invests $750k to set up and run a franchise. Structuring considerations: TEA Securities? Not for his own investment. Corporate form any! Equity model likely Job count likely direct Franchisor approval No need for escrow No need for exit strategy No need for PPM (if no other investors)
44 Structure for Case Study #1 Franchisor EB-5 Investor Franchise Agt. Franchisee Company
45 Required Docs #1 Franchise Agreement Company formation agreements Possibly subscription agreement (might be avoidable) If other investors/partners, more agreements needed.
46 Case Study #2 Immigrant investor invests $500k into a small direct EB-5 deal. Structuring considerations: TEA Securities usually Corporate form likely LLC/LP, but could be anything Equity model likely Job count likely direct Escrow? Maybe. Exit strategy? Maybe. PPM recommended, often skipped
47 Structure for Case Study #2 Entrepreneur EB-5 Investor Franchisee Company Invests $500k
48 Required Docs #2 Company formation agreements (tweaked to have special provisions for EB-5 Investor) Investor Questionnaire Subscription Agt Possibly Escrow Agt PPM recommended (not usually technically required)
49 Case Study #3 Immigrant investor investing $500k into a larger RC deal whereby a loan is made to the project company. Structuring considerations: TEA Securities pretty much always the case Corporate form likely LLC/LP Loan Model (and most RC deals are still loan model) Job count likely indirect Escrow? Maybe. Exit strategy? Usually. PPM technically not required, but almost always expected
50 Structure for Case Study #3 General Partner (usually RC or affiliate) Investor Capital Raising Entity Investor Investor Loan from CPE to PC Project Company
51 Required Docs #3 Company formation agreements (tweaked to have special provisions for EB-5 Investor) Investor Questionnaire Subscription Agt Possibly Escrow Agt PPM recommended (not usually technically required) Loan Agreement
52 JOBS Act Raising capital under Reg D generally had to be done privately --- NO ADVERTISING (e.g. no unrestricted websites) Reg S a possible alternative, but not perfect JOBS Act now allows Reg D, Rule 506(c) offerings to generally solicit (newspapers, SMS, radio, television, billboards, websites, s) subject to other laws, of course BUT. must sell only to accredited investors AND must VERIFY Be careful how to use powerful exemption (possibly superior), but can lose other exemptions.
53 Don t Mess It Up No fall-backs to safe-harbors Cannot rely on Section 4(a)(2) Cannot rely on Rule 506(b) Possibly lose state exemptions Possibly lose Reg S (if not properly separated) Safest Verify, even if not publicly soliciting. Verification is annoying, but manageable VerifyInvestor.com* makes compliance easy and affordable *Platform created by Jor Law
54 Bios ABOUT JOR: Chuck Norris tried to roundhouse kick Jor and missed. And Jor s a better lawyer than a fighter. Homeier & Law, PC is a law firm devoted exclusively to corporate and business transactional law, including securities, for clients ranging from established publicly-traded companies, to start-up businesses and entrepreneurs in a wide range of industries. The firm s practice includes finance, secured lending, mergers & acquisitions, licensing, securities, entertainment, venture capital, new media, e-commerce, and other general business transactions. Homeier & Law, PC is a leader in EB-5 corporate and securities transactions, representing regional centers and private developers on over 150 projects.
55 Contact Jor Law, Esq. (818) (direct) LOS ANGELES NEW YORK CITY Corporate Law -- Securities Law -- Business Transactions EB-5
56 China Issues The Department of State has indicated that a China cutoff date will be established in May 2015 No one knows but its estimated the cut off date will by May 1, 2013, with at least a 24 month wait. The big question is whether it will retrogress further in June 2015, or July 2015, and if so how far back. For Chinese petitioners whose derivatives were almost 21 at the time of filing its critical to get an approval before the cut off date, or they could age out. Will the Chinese wait line go to 2 ½ years, or even 3 years. President Obama has indicated he will take administrative action after the November election. There is some chance this will for counting principal investors only, not each family member.
57 10,000 EB 5 Quota Reached Unavailable means that for the first time since the EB 5 program was created almost 25 years ago the full quota will be used this year The maximum number of EB 5 immigrant visas which could be made available for Chinese applicants has been reached Still leaving sufficient numbers available for use by all other countries to ensure compliance within the annual Fiscal Year 2014 allocation.
58 No Problem for 2014 A new allocation of about 10,000 visas will be available on October 1, 2014, the beginning of the Fiscal Year 2015 There will be virtually no impact on most China EB 5 Category visa applicants who complete processing within the next 6 7 months.
59 China EB 5 Cut off Date May 1, 2013? It is impossible to determine what the date gap will be when it is announced, most likely in May There are estimates the wait line will be approximately 2 years. Since most I 526 petitions are presently taking months (Requests for Evidence are commonplace), the additional wait of about 6 months does not appear unduly worrisome, yet. The concern is that once a China EB 5 cut off date is established, the Department of State may have to retrogress that cut off date, depending on the number of petitions approved, and, the cut off date may not move forward every month. With over 10,000 petitions currently pending with USCIS and about 3,000 filed in the last quarter ending June 30, 2014, and 1,200 filed in July 2014, the China wait line is likely to increase.
60 China Cut off Consequences Consequences may include possible age out of derivatives Issues regarding the timing of the job creation, the requirement for which is currently set artificially at 30 months from approval of the I 526 petition (at the I 526 stage), and 36 months from the time of acquisition of conditional permanent residence (at the I 829 stage). Material changes in business plans as a result of delays in issuance of immigrant visas to EB 5 applicants chargeable to China.
61 61
Questions and Answers
Questions and Answers A Discussion about the EB-5 Immigrant Investor Program Teleconference February 26, 2014 Overview On February 26, 2014, the Public Engagement Division and USCIS Immigrant Investor
More information2013 Wolfsdorf Immigration Law Group (all rights reserved) The contents of this document are proprietary and should not be duplicated or shared
2013 Wolfsdorf Immigration Law Group (all rights reserved) The contents of this document are proprietary and should not be duplicated or shared without express permission from Wolfsdorf Immigration. WOLFSDORF
More informationEB-5 VISA AVAILABILITY PROJECTION FOR FY2015 AND BEYOND: UNDERSTANDING THE CHINESE VISA QUOTA AND PLANNING FOR RETROGRESSION by Bernard P.
EB-5 VISA AVAILABILITY PROJECTION FOR FY2015 AND BEYOND: UNDERSTANDING THE CHINESE VISA QUOTA AND PLANNING FOR RETROGRESSION by Bernard P. Wolfsdorf * INTRODUCTION The EB-5 Immigrant Investor Program created
More informationIntroduction to the United States EB-5 Program
Introduction to the United States EB-5 Program USCIS logo is the exclusive property of the United States Government Slide 1 of 22 Introduction: EB-5 is a US Immigrant visa category. The US Congress created
More information10/18/2012. Disclaimer. EB-5 Securities & Corporate Legal Considerations. To EB-5 or not to EB-5? Agenda. Equity or Loan or Equity & Loan Model?
Disclaimer Utilize EB5 to Finance US Projects and Create US Jobs October 23, 2012 EB-5 Securities & Corporate Legal Considerations Presented by: Jor Law, Esq. This presentation is designed to provide practical
More informationEB-5 Immigrant Investor Program & U.S. Securities Laws
EB-5 Immigrant Investor Program & U.S. Securities Laws Ronald R. Fieldstone, Esq. Arnstein & Lehr LLP 9672564.1 1 Summary of Employment Based Fifth Preference (EB-5 Program) for Immigration Purposes Overview
More informationForm I-924, Application for Regional Center under the Immigrant Investor Pilot Program. Midwest Metropolitan Regional Center, Inc.
U.S. Citizenship and Immigration Services Immigrant Investor Program Washington, DC 20529 06/04/2014 Jeffery E Campion Midwest Metropolitan Regional Center, Inc. 1675 Market St, 211 Weston, FL 33326 Application:
More informationEB-5 Visa. County Business Council Economic Development Committee. Wednesday, Sept 24, 2014. Presentation by
EB-5 Visa County Business Council Economic Development Committee Wednesday, Sept 24, 2014 Presentation by David Hirson, Partner, David Hirson & Partners, LLP Janet Wang, Principal, EB5 Direct Investment
More informationHow To Understand The Fundamentals Of An Eb5
Understanding the Fundamentals of EB-5 Practice Kate Kalmykov (dl), New York, NY David Andersson, EB-5 Investor Committee, Vancouver, BC Robert Divine, Chattanooga, TN Introduction EB-5 category created
More informationEB-5 Regional Centers: For Many Immigrants, The Key to Unlock the Closed Door
EB-5 Regional Centers: For Many Immigrants, The Key to Unlock the Closed Door If you are an attorney who represents individual foreign nationals seeking permanent residence in the U.S., you likely have
More informationRaising EB-5 Capital: Key Securities Laws Considerations and a Compliance Roadmap
Raising EB-5 Capital: Key Securities Laws Considerations and a Compliance Roadmap Mariza E. McKee, Robert J. Ahrenholz and Robert B. Keim, Kutak Rock LLP, with Practical Law Labor & Employment A Practice
More informationSCOPE: This PM is applicable to, and is binding on, all USCIS employees.
U.S. Citizenship and Immigration Services Office of the Director (MS 2000) Washington, DC 20529-2000 May 30, 2013 PM-602-0083 Policy Memorandum SUBJECT: EB-5 Adjudications Policy PURPOSE: The purpose of
More informationEB-5 IMMIGRANT INVESTOR PROGRAM QUARTERLY STAKEHOLDER ENGAGEMENT May 1, 2012
U.S. Citizenship and Immigration Services Customer Service and Public Engagement Directorate Washington, DC 20529 Executive Summary EB-5 IMMIGRANT INVESTOR PROGRAM QUARTERLY STAKEHOLDER ENGAGEMENT May
More informationRCW1421251836/ID1421251836
U.S. Citizenship and Immigration Services Immigrant Investor Program Mailstop 2235 Washington, DC 20529 May 13, 2015 Gonzalo Lopez-Jordan 1200 Brickell Ave. Suite 1950 Miami, Florida 33131 Application:
More informationForm I-924, Application for Regional Center under the Immigrant Investor Pilot Program RCW 1227850774 / RC ID 1227850774
U.S. Citizenship and Immigration Services Immigrant Investor Program Washington, DC 20529 DATE: 06/04/2014 Patrick Hogan CMB Texas, LLC 7819 42nd Street West Rock Island, IL 61201 Application: Applicant(s):
More informationEB-5 Advisory Services & Support. Facilitating Growth of U.S. Companies, Generation of New U.S. Jobs and Permanent U.S. Residency
EB-5 Advisory Services & Support Facilitating Growth of U.S. Companies, Generation of New U.S. Jobs and Permanent U.S. Residency 2015 0 InvestAmerica EB-5 Funding Advisory Services Practice InvestAmerica
More informationBUSI NESS & INVESTMENT I M MIGR ATION LAW. Investment & Business Immigration
BUSI NESS & INVESTMENT I M MIGR ATION LAW Investment & Business Immigration WELCOME David Hirson & Partners, LLP has over 30 years of experience in immigration law. Our practice provides a full range of
More informationEB 5 Briefing Paper: USCIS Immigration through Investment Program
EB 5 Briefing Paper: USCIS Immigration through Investment Program March 20, 2012 ESI Corp Real Estate and Economic Development Counselors In an effort to offer a program to compete with the efforts of
More informationTHE RELEVANCE OF U.S. SECURITIES LAWS TO IMMIGRANT INVESTORS, EB-5 REGIONAL CENTERS AND THEIR ADVISORS
THE RELEVANCE OF U.S. SECURITIES LAWS TO IMMIGRANT INVESTORS, EB-5 REGIONAL CENTERS AND THEIR ADVISORS By Jennifer Mercier Moseley, Angelo A. Paparelli, Ladd W. Mark and Carolyn Lee * The EB-5 employment-creation
More informationBest Practices for Engaging With Intermediaries. Introduction
Best Practices for Engaging With Intermediaries Introduction This document is intended to provide IIUSA members with guidance regarding best practices for engaging with intermediaries who will introduce
More informationThe Final Municipal Advisor Rule: Navigating the Minefield
Latham & Watkins Financial Institutions Regulatory Practice Number 1614 November 22, 2013 The Final Municipal Advisor Rule: Navigating the Minefield While the final rule narrows the scope and reach of
More informationCHALLENGES AND PRACTICES FOR EB-5 INVESTORS ELISE A. HEALY. State Bar of Texas ADVANCED IMMIGRATION LAW COURSE. February 5-6, 2015.
CHALLENGES AND PRACTICES FOR EB-5 INVESTORS ELISE A. HEALY State Bar of Texas ADVANCED IMMIGRATION LAW COURSE February 5-6, 2015 Houston, Texas CHAPTER # 11 TABLE OF CONTENTS I. INTRODUCTION 2 A. Current
More informationGrossman Law, LLC Tel: 240-403-0913 110. N. Washington St. Suite 350 Fax: 240-453-0915 EB-5 IMMIGRANT VISA
Tel: 240-403-0913 110. N. Washington St. Suite 350 Fax: 240-453-0915 Rockville, MD 20850 www.grossmanlawllc.com EB-5 IMMIGRANT VISA Eligibility The EB-5 Immigrant Visa, also known as the Employment Creation
More informationForm I-924, Application for Regional Center under the Immigrant Investor Pilot Program. ARCG California Regional Center LLC
U.S. Citizenship and Immigration Services Immigrant Investor Program Washington, DC 20529 May 9, 2014 Gonzalo Lopez-Jordan 1200 Brickell Avenue, Suite 1950 Miami FL 33131 Application: Applicant(s): Re:
More informationWhat is the EB-5 Quota?
What is the EB-5 Quota? Immigration Act of 1990 made approximately 10,000 visa numbers for EB-5 investors and accompanying or following to join family members. This allocation has never been changed. A
More informationCHOOSING THE BEST VISA FOR YOUR CLIENT - WHAT WILL WE COVER TODAY?
CHOOSING THE BEST VISA FOR YOUR CLIENT - WHAT WILL WE COVER TODAY? WHY WORKING WITH OUR PROFESSIONAL TEAM IS CRITICAL TO PAIN-FREE VISA APPROVAL Requirements for each Visa type Comparing the Visas Importance
More informationAlejandro N. Mayorkas, Esq. Director. AILA EB-5 Committee. DATE: March 26, 2012
MEMORANDUM TO: FROM: RE: Alejandro N. Mayorkas, Esq. Director AILA EB-5 Committee Impact of Change of USCIS Policy Regarding Indirect Job Creation Using Tenant Occupancy Economic Methodology Tenant Occupancy
More informationIIUSA RECOMMENDED BEST PRACTICES FOR EB-5 REGIONAL CENTERS. June, 2013. Introduction
IIUSA RECOMMENDED BEST PRACTICES FOR EB-5 REGIONAL CENTERS June, 2013 Introduction The IIUSA Best Practices Committee was charged with developing a list of best practices to provide guidance to regional
More informationMEMORANDUM. Discussion of the Requirements for the Alien Entrepreneur (EB-5) Immigrant Visa
Tel: (808) 542-5572 Law Offices of KahBo Dye-Chiew 201 Merchant Street, Suite 2302 Honolulu, Hawaii 96813 Email: kdyechiew@gmail.com MEMORANDUM RE: Discussion of the Requirements for the Alien Entrepreneur
More informationEB-5 Immigrant Investor Program and New Market Tax Credits. CREW ORLANDO July 17, 2013
EB-5 Immigrant Investor Program and New Market Tax Credits CREW ORLANDO July 17, 2013 What is the EB-5 Immigrant Investor Program? The EB-5 visa category allows a foreign national to invest $1 million
More informationInvest in America... Obtain a Green Card
Texas Growth Fund Invest in America... Obtain a Green Card THE DIRECT EB-5 VISA PROGRAM The Green Card Investment Program The EB-5 Immigrant Investor Visa Program is a United States Green Card program
More informationSpouses and unmarried children under the age of 21 of an E1 or E2 nonimmigrant may be granted the same status to accompany the E1 or E2.
Nonimmigrant Treaty Traders and Investors and Immigrant Employment-Based Alien Entrepreneurs OVERVIEW The E1 and E2 nonimmigrant visa categories are comprised of treaty traders and treaty investors entitled
More informationFranchise and Investor's Immigrant Visa (EB-5)
1. Introduction Franchise and Investor's Immigrant Visa (EB-5) In comparison to traditional family-based immigration and employment-based immigration, the one-million-dollar (half million for Targeted
More informationAbout the EB5 Immigrant Investor Visa Classification. The EB5 Visa Regional Center and the Immigrant Investor
About the EB5 Immigrant Investor Visa Classification The EB5 Visa Regional Center and the Immigrant Investor The Fifth Employment-Based Visa Preference ( EB-5 ) was enacted by Congress in 1991 and is administered
More informationRaising Capital Through the EB-5 Program
For Audio Participation, Please Call 1.866.814.1914, *1459488* Attorney Advertising Prior results do not guarantee a similar outcome Models used are not clients but may be representative of clients 321
More informationBANKING ON SOMETHING NEW: THE EB-5 ALTERNATIVE TO TRADITIONAL BANK FINANCING
BANKING ON SOMETHING NEW: THE EB-5 ALTERNATIVE TO TRADITIONAL BANK FINANCING M. KEIL HACKLEY RYAN KOSOBUCKI PUBLISHED IN CONSTRUCTION INK! FALL 2010 INTRODUCTION Since our last review of the state of the
More informationImmigrant Investor Insider: EB-5 Investments, E Visas, and Other Investor News: May 2013
Immigrant Investor Insider: EB-5 Investments, E Visas, and Other Investor News: May 2013 Information in this newsletter is being provided by the Fredrikson & Byron, P.A. Immigration Law Department. i Headlines:
More informationMIAMI, FLORIDA South Florida EB- 5 Regional Center, LLC, 3925 East 10 Court Hialeah, Florida 33013, info@southfloridaeb5rc.com www.southfloridaeb5rc.
MIAMI, FLORIDA South Florida EB- 5 Regional Center, LLC, 3925 East 10 Court Hialeah, Florida 33013, info@southfloridaeb5rc.com www.southfloridaeb5rc.com MINIMAL RISK with a solid EXIT STRATEGY EB- 5 Investment
More informationSUMMARY OF THE SEC S PAY-TO-PLAY RULE 206(4)-5
SUMMARY OF THE SEC S PAY-TO-PLAY RULE 206(4)-5 In general, pay-to-play refers to various arrangements by which investment advisers may seek to influence the award of advisory business by making or soliciting
More informationHOT TOPICS AND NEW DEVELOPMENTS IN THE EB-5 VISA CATEGORY ELISE A. HEALY. State Bar of Texas ADVANCED IMMIGRATION LAW COURSE. February 4-5, 2014
HOT TOPICS AND NEW DEVELOPMENTS IN THE EB-5 VISA CATEGORY ELISE A. HEALY State Bar of Texas ADVANCED IMMIGRATION LAW COURSE February 4-5, 2014 Houston, Texas CHAPTER # 14 TABLE OF CONTENTS I. INTRODUCTION
More informationU.S. Immigration Options for Hiring and Transferring Foreign Personnel
U.S. Immigration Options for Hiring and Transferring Foreign Personnel by H. Ronald Klasko * One of the critical concerns of foreign-owned companies establishing U.S. operations and of U.S. businesses
More informationAmerican Bar Association Administrative Law Section. Jennifer Hermansky Associate Attorney Klasko, Rulon, Stock & Seltzer, LLP
American Bar Association Administrative Law Section Jennifer Hermansky Associate Attorney Klasko, Rulon, Stock & Seltzer, LLP EB-5 category created in 1990 for foreign nationals who invest in a new commercial
More informationArticles. SEC Adopts Rules to Allow Crowdfunding Beginning May 16, 2016. Alan Bickerstaff, Jeff C. Dodd and Ted Gilman December 2, 2015
SEC Adopts Rules to Allow Crowdfunding Beginning May 16, 2016 Alan Bickerstaff, Jeff C. Dodd and Ted Gilman December 2, 2015 Over two years after proposing rules, the Securities and Exchange Commission
More informationEB-5 Immigrant Investor
EB-5 Immigrant Investor I Visa Description The fifth employment based visa preference category, created by Congress in 1990, is available to immigrants seeking to enter the United States in order to invest
More informationThe EB-5 Immigrant Investor Pilot Program
The EB-5 Immigrant Investor Pilot Program A technical analysis by ACFI s General Counsel By Boyd Campbell Attorney and Civil Law Notary visaus.com The Immigrant Investor Pilot Program (also called the
More informationLAYOFFS / TERMINATION OF EMPLOYMENT FREQUENTLY ASKED QUESTIONS
The information contained in this FAQ memo is general in nature. It cannot be used in lieu of advice from an attorney familiar with immigration law. We encourage you to seek counsel from an attorney who
More informationDECEMBER 8, 2010 FINANCIAL MARKETS UPDATE. SEC Proposes Rules Exempting Certain Private Fund Advisers from Investment Adviser Registration.
December 8, 2010 FINANCIAL MARKETS UPDATE SEC Proposes Rules Exempting Certain Private Fund Advisers from Investment Adviser Registration The Securities and Exchange Commission (the SEC ) has published
More informationRegulation Crowdfunding
Regulation Crowdfunding November 9, 2015 On October 30, 2015, more than three years after the passage of the Jumpstart Our Small Business Startups Act of 2012 (the JOBS Act ) the U.S. Securities and Exchange
More informationHQ 70/6.2.8 JUN 19 2001
MEMORANDUM FOR ALL SERVICE CENTER DIRECTORS; REGIONAL DIRECTORS; DIRECTOR, OFFICER DEVELOPMENT TRAINING FACILITY, GLYNCO DIRECTOR, OFFICER DEVELOPMENT TRAINING FACILITY, ARTESIA HQ 70/6.2.8 JUN 19 2001
More informationATEL Growth Capital Fund 8, LLC. Financing Tomorrow s Technologies... Today
ATEL Growth Capital Fund 8, LLC Financing Tomorrow s Technologies... Today RISK FACTORS Investors are encouraged to carefully read the Prospectus for ATEL Growth Capital Fund 8, LLC which has been provided
More informationDetails on EB-5, U.S. Permanent Residency/Greencard for Investors
Details on EB-5, U.S. Permanent Residency/Greencard for Investors The immigrant investor, or EB-5, program is a highly beneficial permanent residence option for the wealthy individual. Since there is no
More informationI. OVERVIEW STATUTORY REQUIREMENTS. A. The Regular Program
I. OVERVIEW Congress created the employment-based fifth preference (EB-5) immigrant visa category in 1990 for immigrants seeking to enter to engage in a commercial enterprise that will benefit the U.S.
More informationImmigrant Investor (EB-5) Program
Immigrant Investor (EB-5) Program An Additional Source of Project Funding OEDA Fall Conference 2013 Agenda EB-5 Program Overview Why Investors and Developers are Interested in EB-5 Access to EB-5 Financing
More informationRevisions to Adjudicator s Field Manual (AFM) Regarding Certain Alien Physicians Chapter 22.2(b) General Form I-140 Issues (AFM Update AD09-10)
U.S. Citizenship and Immigration Services Office of Domestic Operations Washington, DC 20529 (MS-2110) June 17, 2009 HQ 70/6.2 AD09-10 Memorandum TO: FROM: SUBJECT: USCIS Leadership Donald Neufeld /s/
More informationUNDERSTANDING DEBT AND EQUITY CROWDFUNDING FROM A LEGAL PERSPECTIVE
UNDERSTANDING DEBT AND EQUITY CROWDFUNDING FROM A LEGAL PERSPECTIVE What Is Crowdfunding? In today s economy the term crowdfunding can take on many contexts but it is, by definition, the practice of funding
More informationEB-5 Immigrant Investor Program Overview
EB-5 Immigrant Investor Program Overview 12/11/2009 USAINVESTCO This document explains the EB-5 program and how to qualify. It also includes answers to many of the frequently asked questions concerning
More informationSEC ADOPTS FINAL RULES TO THE INVESTMENT ADVISERS ACT OF 1940 IMPLEMENTING PROVISIONS OF THE DODD FRANK ACT
SEC ADOPTS FINAL RULES TO THE INVESTMENT ADVISERS ACT OF 1940 IMPLEMENTING PROVISIONS OF THE DODD FRANK ACT 1. INTRODUCTION On 22 June 2011, the Securities and Exchange Commission ("SEC") adopted final
More informationHow To Understand The Eb5 Visa
This conference provides practical and how to information on the EB-5 visa category for attorneys representing both the individual investor and regional center. The core aim of this conference is to present
More informationSEC Finalizes Investment Adviser Pay-to-Play Rules
July 2010 SEC Finalizes Investment Adviser Pay-to-Play Rules BY LAWRENCE J. HASS & MATTHEW NADWORNY On June 30, 2010, the Securities and Exchange Commission (the SEC ) voted unanimously to adopt new Rule
More informationEB-5 Immigrant Investor Program. Anthony Derosby, Esq. Pierce Atwood LLP
EB-5 Immigrant Investor Program Anthony Derosby, Esq. Pierce Atwood LLP The EB-5 Category Section 203(b)(5) of the Immigration and Nationality Act (INA) allocates 10,000 EB-5 immigrant visas per year to
More information14 Bender's Immigration Bulletin 938 (Aug. 1, 2009)
Page 1 14 Bender's Immigration Bulletin 938 (Aug. 1, 2009) HEADLINE: The Relevance of U.S. Securities Laws to Immigrant Investors, EB-5 Regional Centers and Their Advisors AUTHOR: By Jennifer Mercier Moseley,
More informationEB-5 Investment Process for Regional Center or Direct EB-5 Projects Edward C. Beshara, Attorney at law
EB-5 Investment Process for Regional Center or Direct EB-5 Projects Edward C. Beshara, Attorney at law BESHARA P.A. Orlando, FL 407-571-6878 ebeshara@besharapa.com 1 Index About Edward Beshara 3 Lead Associate
More informationThe EB- 5 Immigrant Investor Program
The EB- 5 Immigrant Investor Program The Woodlands Bar Associa1on CLE Presenta1on Agenda Facts & Figures Implementation What is EB-5? EB-5 Process Timeline Investment Categories Why EB-5 Projects Fail
More informationCapital Market Glossary of Terms Apple Capital Group, Inc
GLOSSARY OF TERMS -A- Accredited Investor The SEC designation for an individual or entity meeting any of the following criteria: Any director, executive officer, or general partner of the issuer of the
More informationForm I-924, Application for Regional Center under the Immigrant Investor Pilot Program. Encore Texas Regional Center, LLC RCW122555075/RCID 122555075
U.S. Citizenship and Immigration Services Immigrant Investor Program Washington, DC 20529 March 31, 2014 Patrick J. Barber Encore Texas Regional Center, LLC ( ETRC ) 5005 LBJ FRWY Occidental Tower, Suite
More informationEB-5 101 and Securities Law Considerations
EB-5 101 and Securities Law Considerations Laura Reiff reiffl@gtlaw.com Batya Goodman goodmanb@gtlaw.com GREENBERG TRAURIG, LLP ATTORNEYS AT LAW WWW.GTLAW.COM 2014 Greenberg Traurig, LLP. All rights reserved.
More informationAn Investment Company Director s Guide to. Oversight of. Codes of Ethics. and. Personal Investing INVESTMENT COMPANY INSTITUTE
An Investment Company Director s Guide to Oversight of Codes of Ethics and Personal Investing INVESTMENT COMPANY INSTITUTE An Investment Company Director s Guide to Oversight of Codes of Ethics and Personal
More informationReal Estate Projects Still the Darling of EB-5
Real Estate Projects Still the Darling of EB-5 By Mona Shah, Esq. Yi Song, Esq. As of December 2013, 439 EB-5 regional centers are registered with US Citizenship and Immigration Services (USCIS). EB-5
More informationDETERMINATION OF BASIS IN PROPERTY ACQUIRED IN TRANSFERRED BASIS TRANSACTION
Part III - Administrative, Procedural, and Miscellaneous DETERMINATION OF BASIS IN PROPERTY ACQUIRED IN TRANSFERRED BASIS TRANSACTION Notice 2009-4 I. Purpose The Internal Revenue Service (IRS) is studying
More informationIEDC Conference: The Pros and Cons of Becoming and Running an EB-5 Regional Center
IEDC Conference: The Pros and Cons of Becoming and Running an EB-5 Regional Center October 3, 2012 Steve Yale-Loehr Michael Gibson Rod Crider Overview General overview of the EB-5 program Northeast Ohio
More informationEB-5 I-829 RFEs: What Does USCIS Look for? By Stephen Yale-Loehr, Robert C. Divine, and Sonia Sujanani 1
EB-5 I-829 RFEs: What Does USCIS Look for? By Stephen Yale-Loehr, Robert C. Divine, and Sonia Sujanani 1 Introduction In response to a Freedom of Information Act (FOIA) request filed by Invest In the USA
More informationEB-5 Immigrant Investor Program Frequently Asked Questions (09/2013)
EB-5 Immigrant Investor Program Frequently Asked Questions (09/2013) 1. EB-5 Visas Issued to the Top 5 Countries for FY-2009 to FY-2013: FY-2013* C5 T5 I5 R5 Total China Mainland born 154 139 5,771 4 6,008
More informationEB-5 Visa The rules Regional center FAQ Tax considerations. Investor Green Card (Detail)
EB-5 Visa The rules Regional center FAQ Tax considerations Investor Green Card (Detail) US Green Card The Fast and Easy Way An EB-5 Visa with American Life Inc. EB-5 Visa The EB-5 Visa provides the most
More informationSecurities Regulation Update
November 2013 SEC Proposes Crowdfunding Rules The SEC has published for comment proposed Regulation Crowdfunding (the Proposal ), which is intended to enable entrepreneurs and start-up companies to solicit
More informationFocus on Securities Brokers:
Focus on Securities Brokers: Fun with FINRA Atea Martin CNA Pro 125 Broad Street New York, NY 10004 (212) 440-3247 Atea.Martin@cna.com Chad Weaver Edgerton & Weaver 2615 Pacific Coast Hwy, Suite 300 Hermosa
More informationFunding Alternatives in the Current Economic Environment
Funding Alternatives in the Current Economic Environment RISE 2010 Alan Bickerstaff Technology and Emerging Companies Group Andrews Kurth LLP 111 Congress Avenue, Suite 1700 Austin, Texas 78701 (512) 320-9229
More informationImmigrant Investor Insider: EB-5 Investments, E Visas, and Other Investor News: February 2012
Immigrant Investor Insider: EB-5 Investments, E Visas, and Other Investor News: February 2012 Information in this newsletter is being provided by the Fredrikson & Byron, P.A. Immigration Law Department.
More informationThis is a sample term sheet for investment by venture capitalists in a Series B Convertible Preferred Stock round of financing in a company.
Form: Description: Orientation: Venture Capital Term Sheet This is a sample term sheet for investment by venture capitalists in a Series B Convertible Preferred Stock round of financing in a company. This
More informationDodd Frank: Investment Advisers and Pooled Investment Vehicles
Dodd Frank: Investment Advisers and Pooled Investment Vehicles Bridge Group May 13, 2011 Laurence V. Parker, Jr. Background Investment Advisers Act traditionally regulated money managers managing investments
More informationCROWDFUNDING WHAT IS CROWDFUNDING?
CROWDFUNDING PBI Business Lawyers Institute 5 November 2015 G. Philip Rutledge, Partner Bybel Rutledge LLP, Lemoyne, PA 17043 rutledge@bybelrutledge.com WHAT IS CROWDFUNDING? Much over used term to describe
More informationHigh-yield bonds: an introduction to material covenants and terms
Key points The European high-yield bond market has seen significant issuances over the past two years (both in terms of number of issuances and volumes) and has seen numerous debut issuers. A driver of
More informationMinimum Investment $1,000,000! Minimum Investment in a Targeted Employment Area (TEA) $500,000!
PRESENTED BY Employment Based 5 th Level USCIS administers the Immigrant Investor Program, also known as EB-5, created by Congress in 1990 to stimulate the U.S. economy through job creation and capital
More informationObtaining U.S. Permanent Resident Status through Employment Sponsorship Basic Process for Professional Positions
International Support Services 526 Prices Fork Road, Suite 115 (0378), Blacksburg, Virginia 24061 http://iss.vt.edu Obtaining U.S. Permanent Resident Status through Employment Sponsorship Basic Process
More informationSummary Prospectus August 28, 2015, as revised September 21, 2015
EXCHANGE TRADED CONCEPTS TRUST ROBO Global TM Robotics and Automation Index ETF Summary Prospectus August 28, 2015, as revised September 21, 2015 Principal Listing Exchange for the Fund: NASDAQ Stock Market
More informationPrivate Placements In Public Equity (PIPEs): Best Practices for FINRA Members 1
1345 AVENUE OF THE AMERICAS NEW YORK, NEW YORK 10105 TELEPHONE: (212) 370-1300 FACSIMILE: (212) 370-7889 www.egsllp.com Private Placements In Public Equity (PIPEs): Best Practices for FINRA Members 1 We
More informationSTATE OF MAINE BUREAU OF BANKING SECURITIES DIVISION. SUMMARY ORDER TO Michael L. Hancock ALLEGATIONS, FINDINGS OF FACT AND CONCLUSIONS OF LAW
STATE OF MAINE BUREAU OF BANKING SECURITIES DIVISION In Re: SUMMARY ORDER TO Michael L. Hancock CEASE AND DESIST Case? 00-013 ALLEGATIONS, FINDINGS OF FACT AND CONCLUSIONS OF LAW 1. Michael L. Hancock,
More informationDUE DILIGENCE DATA ROOM CHECKLIST
DUE DILIGENCE DATA ROOM CHECKLIST The following pages contain a detailed due diligence checklist that has been compiled from many years of M&A projects. While this is one of the most extensive and comprehensive
More informationEMPLOYMENT CREATION VISAS (PERMANENT INVESTOR VISAS) EB-5
12000 Biscayne Boulevard Suite 106 Miami, Florida 33181 Phone (305) 895-0300 Fax (305) 895-0306 EMPLOYMENT CREATION VISAS (PERMANENT INVESTOR VISAS) EB-5 CHECKLIST OF DOCUMENTS REQUIRED TO SUPPORT EMPLOYMENT
More informationWEST BASIN MUNICIPAL WATER DISTRICT Debt Management Policy Administrative Code Exhibit G January 2015
1.0 Purpose The purpose of this Debt Management Policy ( Policy ) is to establish parameters and provide guidance as to the issuance, management, continuing evaluation of and reporting on all debt obligations.
More informationFREQUENTLY ASKED QUESTIONS ABOUT RIGHTS OFFERINGS
FREQUENTLY ASKED QUESTIONS ABOUT RIGHTS OFFERINGS Background What is a rights offering? A rights offering typically provides an issuer s existing shareholders the opportunity to purchase a pro rata portion
More informationIRS Issues Final FATCA Regulations
IRS Issues Final FATCA Regulations The United States Internal Revenue Service (IRS) has issued long-awaited final regulations (the Final Regulations) under the Foreign Account Tax Compliance Act (FATCA).
More informationEB-5 Regional Centers
EB-5 Regional Centers Carolyn S. Lee (dl), Ithaca, NY Edward J. Carroll, Burlington, VT Steven T. Anapoell, Irvine, CA Jeffrey B. Carr, Williston, VT Determining if Regional Center Designation Is an Option
More informationInsider Trading Policy
Insider Trading Policy TABLE OF CONTENTS Policy Statement... 1 Policy Questions... 1 Companies Covered... 2 Persons Covered... 2 Transactions Covered... 2 Open Market Transactions... 2 401(k) Plan... 2
More informationREGIONAL CENTERS & SPONSORS AND U.S. SECURITIES LAWS
REGIONAL CENTERS & SPONSORS AND U.S. SECURITIES LAWS How to evaluate broker-dealer, investment company and investment adviser registration requirements Catherine DeBono Holmes, Esq. Chair, Investment Capital
More informationTITLE 15 DEPARTMENT OF BUSINESS AND ECONOMIC DEVELOPMENT CHAPTER 2 HAWAII CAPITAL LOAN PROGRAM
TITLE 15 DEPARTMENT OF BUSINESS AND ECONOMIC DEVELOPMENT CHAPTER 2 HAWAII CAPITAL LOAN PROGRAM 15-2-1 Purpose 15-2-2 Definitions 15-2-3 Purpose of loans 15-2-4 Types of loans; policy on direct and participation
More informationAlert. Recent Developments in Immigration Law. Business Immigration. January 2011
Business Immigration Alert January 2011 Recent Developments in Immigration Law H-1B Numbers Are Running Out As you know, there are approximately 65,000 H-1B numbers available each fiscal year, plus an
More informationRegulation Crowdfunding Outline
Regulation Crowdfunding Outline December 5, 2013 By: Kiran Lingam, General Counsel, SeedInvest The following is an outline of proposed Regulation Crowdfunding (Reg CF), promulgated under Title III of the
More informationFiber Winds Renewable Energy Project. Over $87 Million in U.S. Government Subsidies
EB-5 Qualified Investment Opportunity Renewable Power. Sustainable Investment. Fiber Winds Renewable Energy Project Over $87 Million in U.S. Government Subsidies U.S. Government Subsidized Large Utility
More informationEB-5 Immigrant Investor Funding
What is EB5? EB-5 was created by Congress in 1990 to stimulate the U.S. economy through job creation. The EB-5 program is a source of funding for projects from immigrant investors motivated in part by
More informationS CORPORATION ESOPS CREATE INVESTMENT, ACQUISITION, AND EXIT STRATEGY OPPORTUNITIES
ESOP Financial Advisory 3 S CORPORATION ESOPS CREATE INVESTMENT, ACQUISITION, AND EXIT STRATEGY OPPORTUNITIES FOR PRIVATE EQUITY GROUPS William W. Merten, Esq. M&A advisers are becoming increasingly familiar
More information