Provides new investors with a last chance to secure their future in one of Europe’s most promising citizenship programs.

Following the decision to extend the Montenegro Citizenship by Investment Program until December 31st, 2022, the Montenegrin Cabinet underlined their commitment to implement changes that will allow the globally acclaimed CIP to further the country’s development plan.

This includes an increase to the government contribution amount from €100,000 to €200,000.

As one of the fastest growing economies in the region, the foreign direct investments that continue to fuel the nation’s economy bring additional resources to both the local community and to Montenegro for the years to come.

With a starting investment of €250,000, and a donation of €200,000, Montenegro’s program still proves to be one of the most competitive in Europe

The new investment requirements are as follows:

• €200,000 in the form of Government Fund Donation, and
• €250,000 in real estate investment (in the north)
• €350,000 in real estate investment (in the south)

While there won’t be any new real estate investment options for 2022 — amongst the 11 projects currently approved by the Government of Montenegro, those offered by us are nearly finalized: including the majestic 4-star resort, Bjelasica 1450, the 5-star Westin Ski Resort Kolašin, the first 5-star hotel in Žabljakas, the Durmitor Hotel, as well as the luxury Hotel and Spa Breza.

Another primary reason for Montenegro’s significant acclaim is due to its likely accession into the European Union by 2025.

Essentially, as a Montenegrin citizen, you will be granted the same rights as other European Union member, such as free movement to work, study and live anywhere in the EU, It can be thought of as the investment that grants nearly-instant advantages that continue to resound from one generation to the next.

Montenegro’s Citizenship by Investment Program has become one of the most sought-after investment options for families who are in search for a better quality of life and a secure future in Europe with global mobility to 100+ countries.

The year 2021 has undoubtedly come with its highs and lows. As the year comes to a close, the U.S. Citizenship and Immigration Services has released a report detailing preliminary fiscal year (FY) 2021 agency statistics and accomplishments, some of which have impacted EB-5 investors and stakeholders.

USCIS Director Ur M. Jaddou said in a statement she was proud of the USCIS during a very challenging year, “From responding to the COVID-19 pandemic and addressing processing delays to enacting numerous operational and policy changes in response to executive orders from the Biden-Harris Administration.” She said the year marked one of growth and renewed vision for the agency.

In 2022, she said the agency will continue to serve the public “with compassion and reflect America’s promise as a nation of welcome and possibilities for all.” She added that the agency “will adjudicate requests with fairness, efficiency and integrity.”

Challenges faced in 2021 for EB-5 investors and applicants

Some of the challenges the agency endured during 2021 include challenges with fiscal health, temporary flexibilities in response to COVID-19, employment-based adjustments and processing delays.

Regarding employment-based adjustments, USCIS noted the challenge of processing over 237,000 employment-based Green Card applications—apart from the agency’s usual 115,000, plus an additional 122,000 immigrant visa numbers that the Department of State was unable to process in FY 2020 due to the COVID-19 pandemic. By the end of FY 2021, USCIS approved over 172,000 employment-based adjustment of status applications, an increase of 50% above the typical baseline, the report showed.

Processing delays saw an increase in pending cases and processing times. USCIS addressed processing delays by reusing biometrics for 2.5 million applicants since March 2020; reducing the number of pending biometrics appointments from 1.4 million in January 2021 to 155,000 as of the end of September; and fully eliminating the “front-log” of cases awaiting intake processing—which was more than one million receipts in January 2021 and was eliminated in July—by expanding staffing and overtime at their lockbox facilities.

“With the large number of pending applications that are not being reviewed due to the lapse of the Regional Center portion of the EB-5 Program, we would hope that some of these measures to address delays are implemented once the program is reauthorized,” says Rogelio J. Carrasquillo, Esq., Shareholder at Carrasquillo Law Group P.C. “Otherwise we may see a crazy number of delays which may increase the number of legal actions by investors against USCIS for the processing of their applications.”

USCIS achievements in 2021 when dealing with visa and immigration petitions

Regarding the agency’s response to executive orders, the agency noted they promoted naturalization and continued to process naturalization cases at pre-pandemic levels during 2021 and completed approximately 895,000 naturalization applications, conducted more than 52,000 video-facilitated interviews, and hosted more than 40,000 naturalization ceremonies.

Another accomplishment mentioned in the release was increased public engagement by the agency, which held more than 2,000 virtual engagements covering more than 20 topics, including citizenship/naturalization, online filing, family-based petitions and business immigration. The agency also highlighted their transition from paper applications to a fully digital filing and adjudication experience, such as expanding and enhancing self-help tools for applicants online and through the agency’s Contact Center to provide more efficient and timely service. Additionally, the agency mentioned its increased data transparency as an accomplishment, noting the USCIS has increased data transparency and availability of new and expanded quarterly reports.

Carrasquillo says he hopes in the new year that Congress will provide a permanent solution for the reauthorization of the EB-5 Regional Center Program.

“This reauthorization should include an increase in the number of available visas in order to jump-start the program and the confidence of foreign investors,” says Carrasquillo.

Although the EB-5 Direct program is permanent and Carrasquillo says they are seeing a small number of investors taking advantage of such programs, “the numbers are not sufficient to cause the economic impact that the regional center program could have with the larger amounts of foreign direct investment flowing into our economy.”

However, he says, at the same time, they “expect a steady number of direct EB-5 investors as the amount of investment remains at the $500k amount.”

(By Anayat Durrani – EB5 Investor)

With the New Year in full swing, there’s some movement on the EB-5 front. The Department of Homeland Security (DHS) today filed an unopposed motion to dismiss its appeal to the Behring Regional Center lawsuit.

The appeal was filed in August 2021 by Alejandro N. Mayorkas, Secretary of Homeland Security; Tracy Renaud, Acting Director, U.S. Citizenship and Immigration Services; Edie Pearson, USCIS Policy Branch Chief of the Immigrant Investor Program Office.

In Behring Regional Center v. Wolf case, the Behring Regional Center and the Greenberg Traurig law firm got the courts to disallow implementation of the EB-5 Modernization Rule, which reversed the required investment amount from $900,000 back to $500,000.

“The decision to dismiss the appeal provides clarity that all the direct EB-5 cases filed with the reduced amount of $500,000 are approvable and the prior rules on targeted employment areas are in force,” said Bernie Wolfsdorf, former President of the American Immigration Lawyers Association.

What the DHS dismissal means for the EB-5 industry

Judge Jacqueline Scott Corley issued a ruling on the Behring Regional Center lawsuit in June 2021, which found former Homeland Security Secretary Kevin McAleenan not lawfully serving in his position when he established the EB-5 Final Rule. The EB-5 Modernization Rule increased the minimum investment amount from $500,000 to $900,000 if the project is located in a Targeted Employment Area (TEA) and from $1 million to $1.8 million if outside of a TEA.

Michael A. Harris, Esq., immigration lawyer for HarrisLaw, P.A. says the withdrawal of the DHS appeal of the Behring lawsuit means that EB-5 investors and the industry will be waiting to see if one of two things happens.

One of those is whether USCIS “promulgates new regulations which increase the minimum investment amount, provide new standards for determination of a TEA project location, and other integrity reform measures for investors, regional centers and projects,” he said. He says a prior regulation allowed for displaced EB-5 investors to preserve their priority date when re-filing due to a failed project, and added, “How will USCIS address this scenario and others in the future?”

He says the other possibility is if Congress passes new legislation codifying the regulations that USCIS sought to create.

“Whether this also includes a revival of the EB-5 Regional Center Program and other changes is uncertain at the moment. There have been proposed changes to the EB-5 Program since 2015, but so far Congress has not passed any of them,” says Harris.

Impact on EB-5 investment amount and reauthorization

The current minimum investment of $500,000 and state-determined high unemployment TEA designations may stay unchanged for months, Harris said.

The news of DHS filing an unopposed motion to dismiss its appeal to the Behring Regional Center lawsuit is welcome news in the interim.

“This is huge for the EB-5 direct program, and when Congress reauthorizes the Regional Center program, hopefully next month, we are going to see demand for EB-5 skyrocket,” said Wolfsdorf.

(By By Anayat Durrani – EB5 Investors)

 

Universities are looking to partner with flexible space providers amid a revenue crunch

Access to US under E2 treaty visa for Grenada Citizens

One of the very important key points that distinguishes Grenada from other citizenship programmes in the caribbean (Dominica, Antigua, St Kitts Nevis, St Lucia) is Grenada has signed E2 Investor Treaty with the US.

The E-2 Treaty allows a national of a treaty country to be admitted to the United States (E2 visa) when investing a substantial amount of capital in a U.S. business of their choice. There is no minimum investment limit (it can be as low as $50,000). The business must be real business and does not enforce on having minimum number of employees.

 

The E-2 treaty investor visa is generally a temporary residence permit that allows you to live in the United States as long as you are operating the business. You have to leave the US if the business fails. Some of the examples of business are

• Large companies who establish manufacturing plants
• Real estate investors
• Small businessmen who purchase a franchise or small business
• Retirees who use the Treaty Investor visa as a means of getting US status so they can retire in America

 

E2 Investor visa is a non-immigrant visa valid for a period of five years and can be renewed with 2 year extensions. Non-immigrant visa means you will not get  green card or citizenship in the US  under E2 status. Family members can qualify for E2 visa as well.

 

This type of visa is great when you want to visit US anytime for business. You must hold Grenada passport to apply for this visa. It can be a joint venture partnership and you are allowed to work for the business you created.

 

E-2 visa holders may stay outside the U.S. for any amount of time, and still re-enter the U.S. with their valid visa. The processing time for E2 visa is 60 days (unlike 12-18 months for EB5)

 

E2 investor visa is not to be confused to EB5 investor visa, which requires investment of $500,000 fully gives immigrant status to permanently live in the US. IRS taxes on worldwide income for those who obtained  EB5 status.

 

Here are some differences between EB5 and E2 visas

EB5 Investor visa

E2  Investor Visa

Gives immigrant visa status in US US permanent residence or Greencard Path to US citizenship in 6 years Must satisfy residency requirements living in the us Processing time is 12-18 months Requires minimum $500,000 business investment. Must create atleast 10 full time jobs through employment of US citizens Must pay US taxes on worldwide income. Family members qualify

Offers Non-immigrant visa status in US No permanent residence or green card No path for US citizenship No residency requirements. Enter and exit US anytime and can stay outside US indefinitely. Processing time is only 60 days No minimum investment ceiling. Investments in business can be as low as $50,000 or less No requirement to employ or create jobs. There are ways to avoid paying US taxes on worldwide income Family members also qualify