Presented by Atty. Lourdes Santos-Tancinco of Tancinco Law Offices, a professional law corporation based in San Francisco, California with satellite offices located in Vallejo, Milpitas, and Glendale, CA; as well as in Manila, Philippines.

1. EB-5: U.S. GREEN CARDS
THROUGH INVESTMENT
with Atty. Lourdes Santos Tancinco
Principal, Tancinco Law Offices
San Francisco, CA

2. 2 classifications of immigrants:
OVERVIEW OF U.S. IMMIGRATION
1. Temporary nonimmigrants
2. Permanent residents (green card holders)
The temporary visa holders do not have a pathway
to U.S. citizenship but the green card holders have
the opportunity to become U.S. citizens.

3. •Tourism (B1/B2)
•Educational (F1, J1, M1)
•Specialty family related (K1, K3)
•Work or Business visas (B1, E1/E2, H, I, L, O,P, Q,
R and the TN visas.)
•Law enforcement, governmental or quasi
government (A or G)
•Others (C1, D)
TYPES OF NON-IMMIGRANT VISAS

4. A. Family Petitions
B. Employment Based Petitions
IMMIGRANT VISAS

5. First preference (F1): unmarried sons and
daughters of U.S. citizens;
Second preference (F2A/F2B): spouses and
children of LPRs (2A); and unmarried sons
and daughters of LPRs (2B);
Third preference (F3): married sons and
daughters of U.S. citizens; and
Fourth preference (F4): brothers and
sisters of U.S. citizens.
FAMILY PETITIONS

6. First Preference (EB-1): extraordinary ability in the
sciences, arts, education, business, or athletics through
sustained national or international acclaim.
Second Preference (EB-2): for members of the
professions holding advanced degrees, or for persons
with exceptional ability in the arts, sciences, or
business
Third Preference (EB-3): for skilled workers,
professionals, and "other workers"—all of which require
approved labor certifications.
Fourth Preference (EB-4): certain religious workers,
certain employees of U.S. foreign-service posts abroad,
certain retired employees of international organizations
Fifth Preference (EB-5): for employment-creation;
a.k.a. investor visas
EMPLOYMENT PETITIONS

7. Immigrant visa issuances during fiscal year
2017 will be limited by the terms of INA 201 to
•no more than 226,000 in the family-sponsored
preferences and
•140,000 in the employment-based
preferences.
IMMIGRATION SYSTEM

8. COUNTRIES WITH THE MOST LENGTHY
WAITING PERIOD (BACKLOGGED)
Country Backlog
Mexico 1,309,282
Philippines 387,323
India 331,423
Vietnam 266,297
China (mainland-born) 252,497
Dominican Republic 199,055
Bangladesh 179,504
Pakistan 127,768
Haiti 115,580
Cuba 106,351
El Salvador 78,947
Jamaica 54,398
All Others 958,627
Worldwide 4,367,052

9. VISA BULLETIN FOR FAMILY PETITIONS
Family-
Sponsored
All
Chargeability
Areas Except
Those Listed
CHINA-
mainland
born
INDIA MEXICO PHILIPPINES
F1 22DEC10 22DEC10 22DEC10 01MAR96 01JAN07
F2A 22DEC10 22DEC10 22DEC10 01MAR96 01JAN07
F2B 08NOV10 08NOV10 08NOV10 15JUL96 01JAN07
F3 22JUL05 22JUL05 22JUL05 22APR95 22FEB95
F4 08MAY04 08MAY04 01OCT03 01OCT97 01JUN94

10. VISA BULLETIN FOR EMPLOYMENT
PETITIONS
Employment-
Based
All
Chargeability
Areas Except
Those Listed
CHINA-
mainland
born
EL SALVADOR
GUATEMALA
HONDURAS
INDIA MEXICO PHILIPPINES
1st C C C C C C
2nd C 22MAY13 C 15SEP08 C C
3rd C 01JAN14 C 15OCT06 C 01DEC15
Other Workers C 01JAN06 C 15OCT06 C 01DEC15
4th C C 01NOV15 C 01MAR16 C
Certain
Religious
Workers
C C 01NOV15 C 01MAR16 C
5th
Non-Regional
Center
(C5 and T5)
C 22JUN14 C C C C
5th
Regional
Center
(I5 and R5)
C 22JUN14 C C C C

11. TOP COUNTRIES AVAILING EB5S
Country EB5s filed Percent of
Employment
Waiting List
China-mainland
born
22,910 93.0%
Hong Kong S.A.R. 447 1.8%
Vietnam 232 0.9%
Korea, South 109 0.5%
China-Taiwan born 106 0.4%
All Others 825 3.4%
Worldwide Total 24,629 100%

12. 1. Nonimmigrant Visa: E1/E2
2. Immigrant Visa EB5
VISA OPTIONS FOR ENTREPRENEURS
UNDER EXISTING LAW

13. E visa is a temporary nonimmigrant visa that
allows foreign nationals who are citizens of
treaty countries to engage in activities as a
treaty trader, as a treaty investor, or as an
employee of a qualifying entity that in turn must
be a treaty trader or investor.
E status may be valid for up to 2 years, and E
visas are issued for up to 5 years.
“E” VISA - THE NON-IMMIGRANT/
TEMPORARY INVESTOR VISA

14. “The requisite treaty exists,”
“The individual and/or business possesses the
nationality of the treaty country,”
The visa applicant “has invested or is actively in
the process of investing”;
The enterprise “is a real and operating
commercial enterprise”;
The visa applicant’s “investment is substantial”;
The visa applicant’s investment “is more than a
marginal one solely for earning a living”;
The visa applicant “is in a position to “develop
and direct” the enterprise”;
REQUIREMENTS FOR THE E VISA

15. The investor must possess and control the funds
The investor must put the investment capital at
risk;
The investor must irrevocably commit the capital
to the E-2 enterprise; and
E2 business “cannot be a paper organization or an
idle speculative investment held for potential
appreciation in value, such as undeveloped land or
stocks held by an investor without the intent to
direct the enterprise.”
CAPITAL INVESTMENT

16. The investment must be substantial: The
investment of capital or assets must be “a
substantial amount… as distinct from a relatively
small amount of capital… solely for the purpose of
earning a living.
“No set dollar figure constitutes a minimum
amount of investment to be considered ‘substantial’
for E-2 visa purposes.” Instead, use the
proportionality test which is the proportion between
the two figures: the “amount of the funds or assets
actually invested” and the value of the business.
AMOUNT OF INVESTMENT

17. THE EMPLOYMENT BASED 5TH
PREFERENCE (EB5)
What is an EB-5 visa?
It is an employment-based immigrant category that
enables foreign nationals to qualify for green cards based
on investment and employment creation in the United
States.
To be granted an EB-5 visa, a foreign national may invest
$1 million in a U.S. business and employ 10 U.S. workers
or invest $500,000 in either an area of high
unemployment or through the Immigrant Investor Pilot
Program.

18. • The qualifying investor,
• Spouse,
• Unmarried minor children (below 21 years old)
WHO BENEFITS FROM AN EB5

19. (1) He has invested or is actively in the process of investing in a
new commercial enterprise after November 29, 1990 or is
actively in the process of investing in a qualifying enterprise;
(2) He has invested or is actively in the process of investing $1
million of capital, or $500,000 in rural areas or areas which
have experienced unemployment of at least 150 percent of
the national average rate (collectively “targeted employment
areas”); and
(3) The investment will benefit the U.S. economy and create at
least 10 full time employment positions for U.S. citizens,
permanent residents or other immigrants lawfully authorized
to work in the United States, other than the investing
immigrant and his or her spouse, sons and daughters.
BASIC REQUIREMENTS

20. I. Direct Investment Enterprises
II. Regional Centers in TEA (Targeted
Employment Areas)
TYPE OF COMMERCIAL ENTERPRISES
FOR EB5
Common Types of Regional Centers
1. Equity Model
2. Loan Model

21. A foreign investor may create or establish a new
commercial enterprise and demonstrate that the
$1 million dollar is invested and that it will
generate 10 full time employment positions for
U.S. workers.
The point of reference here is November 29,
1990.
WHAT IS THE DIRECT INVESTMENT
ENTERPRISE?

22. A new commercial enterprise could consist of:
(1) The creation of an original business;
(2) The purchase of an existing business where the alien
makes sufficient changes in its structure, organization or
operations to constitute a new enterprise; or
(3) The investment of the required amount of capital in an
existing business so that either the net worth or the number
of employees is increased by at least 40% as a result of the
investment.
Noncommercial activities such as owning and operating a
personal residence are, however, excluded.
UNDERSTANDING THE EB5 - NCE
(NEW COMMERCIAL ENTERPRISE)

23. The minimum capital investment amount is reduced to
$500,000 in rural areas and areas of high
unemployment, collectively referred to as “Targeted
Employment Areas,” which is defined as:
(1) any area not within a metropolitan statistical area
or the outer boundary of any city or town having a
population of 20,000 or more, “rural area”, or
(2) any area which has experienced unemployment of
at least 150% of the national average rate, a “high
unemployment area.”
TEA (TARGETED EMPLOYMENT AREA)
UNDER THE REGIONAL CENTER PROGRAM

24. TEA designation is given by the state
government overseeing the specific geographic
jurisdiction in which an EB5 project is located.
At the time of investment and filing of the EB5
petition, EB5 investors are required to submit a
valid TEA certification.
WHY IS TEA IMPORTANT?

25. RULE: To qualify for a green card through the EB5 investments,
the investor must always take an equity position in the new
commercial enterprise.
I. “Equity Model” Project
In a typical “equity model” project, the new commercial enterprise
essentially acts as the owner and developer of the project.
II. “Loan Model” Project
In a typical “loan model” project, the new commercial enterprise
simply acts as the equivalent of a bank aggregating the funds
from the EB5 Investors and then loaning them to some other
entity to create a project or operate a business.
COMMON TYPES OF REGIONAL CENTER
PROJECTS

26. “Capital” is defined as “cash, equipment, inventory,
other tangible property, cash equivalents, and
indebtedness secured by assets owned by the alien
entrepreneur, provided that the alien entrepreneur
is personally and primarily liable and that the
assets of the new commercial enterprise are not
used to secure any of the indebtedness.”
There is no requirement that the funds or assets
come from outside the United States. All capital will
be valued at fair market value in U.S. dollars.
CAPITAL AND INVESTMENT

27. For both individual and regional center EB-5
petitions, the applicant must demonstrate that
the source of investment capital is lawful.
In documenting a lawful source of funds, the
ultimate focus is on the person who originally
obtained the funds while tracing the funds from
that person to the investor.
LAWFUL SOURCE OF INVESTMENT FUNDS

28. foreign business registration records,
tax returns filed within 5 years by or on behalf of the petitioner,
certified copies of any monetary judgments or pending actions
against the petitioner within the last 15 years, and any other
applicable evidence
mortgage loan documents,
the petitioner must also submit evidence showing her purchase
and ownership of the property (eg. original purchase contract),
invoice and/or receipt for payment, tax payment certificate,
deed (or equivalent document), and mortgage documents for
the petitioner’s purchase, if applicable.
a bank statement showing the petitioner’s receipt of the
mortgage loan proceeds from the bank as well as wire transfer
receipts and bank statements showing each interim transfer of
the loan proceeds from the time of deposit into petitioner’s
account to the time of investment in the new commercial
enterprise.
SAMPLE DOCUMENTS NEEDED TO PROVE
LAWFUL SOURCE OF FUNDS

29. I. I-526 Petition at USCIS
II. Consular Processing or Adjustment of Status
III. I-829 Petition at USCIS
PROCEDURAL ESSENCE OF EB5:
CONDITIONAL RESIDENCE

30. It will take approximately 22 months (as of July 18, 2017) to
receive an approval.
Once approval is received, the next step is to receive a visa
interview letter. After the visa interview, the investor has 6
months to enter the United States to receive their green card.
Upon their entry in the United States, a conditional Green
Card is granted and the Investor then will have approximately
24 month period of conditional residency in the United States.
As of July 2017, the processing time for an I-829 petition is
29 months. Upon the final adjudication of the I-829, the
investor will receive their permanent unconditional Green
Card.
EB5 TIMELINE

31. WHAT IS THE FUTURE OF EB5
UNDER THE CURRENT TRUMP
ADMINISTRATION?

32. INTRODUCING THE GOLDEN
GATE GLOBAL (3G)
(AN EB5 IMMIGRANT
INVESTMENT REGIONAL
CENTER)

33. THANK YOU!

34. Q & A