The EB-5 attorneys at Fong & Aquino want to report about the recent EB-5 stakeholders meeting which took place recently. Probably of most interest are the EB-5 success rates reported by USCIS. In general terms, the Department of Homeland Security reports that in Fiscal Year 2010, approximately 110 initial Regional Center proposals were submitted and approximately 36% received approvals in the initial adjudication.
Evidencing a major increase in regional center filings, DHS reported that 176 initial regional center applications were received in the first three quarters of Fiscal Year 2011 (October 1, 2010 to June 30, 2011). Of those, 46% were approved upon initial adjudication and 23% were denied upon initial adjudication. The attorneys at Fong & Aquino are consulted regularly by investors seeking regional center certification.
It’s been no secret that EB-5 regional center filings are on the rise and that the program which has been in existence for years is gaining popularity again. Although approval rates seems are encouraging, investors know that the program is obviously, not without enormous risk. The LA Times reported earlier this month about some of the problems still plaguing investors. Contact the business immigration attorneys at Fong & Aquino if you would like a consultation regarding regional center certification and/or the traditional EB-5 program. –ecf