Wednesday, June 13, 2018

I-829 Petition Receipt Notices Valid for 18 Months as Proof of Status

(Source: EB-5 Insights) On June 11, 2018, USCIS announced that Petitioners who file Form I-829 Petition by Entrepreneur to Remove Conditions on Permanent Resident Status, will receive a Form I-797 receipt notice that can be presented with their Form I-551, Permanent Resident Card, as evidence of continued status for 18 months past the expiration date on their conditional Permanent Resident Card. Previously, USCIS only issued receipt notices that would be valid for 12 months past the expiration date on the conditional Permanent Resident Card. USCIS made the change from 12 to 18 months to reflect the current processing times for Form I-829, which have increased over the past year.

In addition, USCIS also will issue new Form I-797 receipt notices to eligible conditional permanent residents whose Form I-829 was still pending as of June 11, 2018. Those Form I-797 receipt notices will also serve as evidence of continued status for 18 months past the expiration date on petitioner’s Permanent Resident Card.

This is an important change, as the Form I-797 receipt notices evidence a conditional permanent residents’ status in the United States, including proof of ongoing employment eligibility, and also serves as the official document international travel when the conditional green card has expired.

Friday, May 25, 2018

Artisan Buisness team travel to China

Artisan Business Group team will be traveling to China this weekend for a one month long fact finding and business trip.  Multiple meetings and business events will be held  with family offices, wealth managers and migration agencies in Beijing, Shanghai, Wenzhou and Shenzhen. 

The team will also explore business and investment opportunities within blockchain technology industry which has gained major exposure and worldwide attention after Chinese government banned Bitcoin exchanges and virtual currency tradings in China early this year. Artisan Business Group is hosting 2018 US China Blockchain and Digital Currency Conference in Los Angeles on August 22.

To learn more about new business and investment market in China, contact us today.

Wednesday, May 23, 2018

Monday, May 21, 2018

Quick US green cards are available to Indians — but they're not cheap


(Source: CNBC) Indians are discovering a quick — though super-expensive — way around the long wait for an American permanent residency. Read a good report at https://www.cnbc.com/

Palm Beach attorney accused of EB-5 fraud sells mixed-use property

(Source: The Real Deal) A Palm Beach attorney who federal prosecutors allege was involved in $50 million EB-5 fraud scheme just sold a three-building mixed-use property in Palm Beach for about $4 million. See the story at https://therealdeal.com/

Saturday, May 19, 2018

Chinese EB-5 investors lose patience

Chinese EB-5 investors are losing patience due to long waiting line, a result of retrogression.  The Chinese market has reflected such impatience. The market is very slow, even the large immigration agencies have difficulties of recruiting investors, the rumor is one of the top five leading agencies have decided not to promote EB-5 projects, instead real estate sales will be the key revenue generator.  In some cases, investors demand refund of investment capital, their hired gangsters show up at migration agency's offices to scare company owners and make threats to employees. In some cases, senior executives at migration agencies either flee or hide, and a few people got beaten up. Investors also know how to use Chinese social media such as Wechat groups, weibo mini blogs to attack migration agency and project developers as well as regional centers.  It is also common some investors would hire US attorneys to file lawsuit against regional centers or project developers.

When things get worse, Chinese investor groups would show up at the doorsteps of regional center offices and developers. It may get ugly or even violent. Regional centers should not be surprised if Chinese investors show up at your office or even house one day.

To learn more about Chinese investors market and its trends, contact us today. 

http://www.blockchainchinaconnect.com

Friday, May 18, 2018

China update: are investors abandoning EB-5 program?


In recent months, Chinese immigration agencies are calling upon their clients to file a petition with the  White House, it is reported over 10,000 investors and stakeholders are signing the online petition.  Obviously EB-5 market in China is extremely slow and pretty much dead. Families with older children are less willing to consider EB-5 program. A few families with minor children are still in favor of EB-5 program. However, retrogression is a key concern.

Many immigration agencies around China are replacing their core business from EB-5 promotions to real estate sales in Thailand and Cambodia. Even some of the largest leading immigration agencies are devoting their efforts in promoting real estate deals in Asia and Europe. For the US market, some Chinese clients are exploring EB-1C or NIW type of visas though many of them are not qualified. Due to long time retrogression, more investors from China have been demanding for refund. 

The lack of legislative actions in the US congress is a major road block for many potential EB-5 investors, we are not expecting anything to be done soon this year.  It is pretty soon that Vietnamese and Indian investors would be facing the same retrogression issues. The majority of Regional Centers will be forced out of business as large projects will never see sufficient EB-5 funding if the US Congress continue to be inaction with EB-5 program. 

Tuesday, May 1, 2018

Chinese EB-5 investors might be jumping ship for private equity

(Source: The Real Deal) The EB-5 gravy train has left the station, however a new generation of private equity firms could be poised to step into the gap for Chinese investors interested in U.S. real estate, though a green card may not be part of the equation. See the story at https://therealdeal.com/

Tuesday, April 24, 2018

US developers feel pinch as Chinese investors pull back from EB-5 programme that offers green card as a reward

(Source: South China Morning Post) A big drop in Chinese applications for a US investor immigration programme is causing pain in sizeable American real estate projects as a source of affordable funding dries up. Read report at http://www.scmp.com/news/

Monday, April 16, 2018

Young Chinese families show interest in EB-5 investor program

 
ABG host Real Estate Training Program in Shanghai
For last five years, Chinese investors have overwhelmed the EB-5 program and have resulted in tens of thousands of petitions. However, since last year there is a sharp decline of investors from China due to retrogression and tighter control of foreign exchange by Chinese government. It has been quite difficult for Chinese citizens to sign up EB-5 program as many investors would not be able to get their funds or path of fund verified as USCIS required. Instead of coming to the US, many investors have discovered their new interest in investing in Thailand, Cambodia, Malaysia and other European countries.

Despite uncertainties around the EB-5 immigration investor program, some Chinese families with young children are still interested in investing in the program and setting up their children's education plan.  Families with teenager are encouraging their teens to file EB-5 petitions on their own before Trump administration eventually closes door of the US, as many people believe that President Trump's immigration policy is not quite friendly to wealthy investors.

Since many US developers are turning their attention to markets of Vietnam, India, Taiwan and other countries, fewer US EB-5 projects are now available in the China market and fewer Chinese migration agencies are marketing them. EB-5 market in China is less crowded in 2018. Targeting the right investor pools can be critical for raising EB-5 capital this year in China.  To learn more about current status of EB-5 market and action plan, please contact us at http://www.ArtisanBusinessGroup.com

Sunday, April 15, 2018

Shanghai to host China International Import Expo in November 2018

The Ministry of Commerce of the People's Republic of China and Shanghai Municipal People's Government will be hosting China's largest import trade show -"China International Import Expo" at the Shanghai National Exhibition and Convention Center November 5-10, 2018. It is a significant move for the Chinese government to hold CIIE to give firm support to trade liberalization and economic globalization and actively open the Chinese market to the world. It facilitates countries and regions all over the world to strengthen economic cooperation and trade, and to promote global trade and world economic growth in order to make the world economy more open.  

Artisan Business Group is planning to organize a trade mission to China, if you are interested in exporting your product to Chinese market, contact us today at mailbox@artisanbusinessgroup.com.

Lawsuit alleging EB-5 scam at Metropolis has been dropped

(Source: The Real Deal) A federal lawsuit filed against a Los Angeles attorney accusing him of running an EB-5 scam at the Metropolis megaproject has been dropped. See news report at https://therealdeal.com/la/2018/04/12/lawsuit-alleging-eb-5-scam-at-metropolis-is-dropped/

Thursday, April 12, 2018

Artisan Business Group to host investment training tour in China



Artisan Business Group is planning a multi-city investment executive training tour in Shanghai, Beijing, Hangzhou, Shenyang and Guangzhou in June and July 2018. To learn more about how you can get involved in our training tour, contact us at mailbox@ArtisanBusinessGroup.com

Tuesday, April 10, 2018

Judge agrees to freeze Quiros properties in Bahamas, Colombia in EB-5 case

(Source: VTdigger.org) A Vermont judge has sided with the state in its bid to freeze the assets of Jay Peak developer Ariel Quiros, issuing an order Monday that applies to property in Vermont as well as outside the state and country. The order against Quiros freezes not only five properties in the state, but others in Florida and Colorado as well as Colombia, the Bahamas and Puerto Rico. To learn more story at https://vtdigger.org/

Sunday, April 1, 2018

Brian Su visits wealth managers in China


Brian Su, CEO of Artisan Business Group visited  wealth management firms and family offices in Beijing, Shanghai and Shenzhen during his trip in March 2018.  Artisan Business Group will be working closely with wealth managers and family offices on various real estate investment projects in the US this year.  ABG will be organizing professional training programs for family offices and wealth management firms this summer.

Friday, March 30, 2018

Brian Su met with leading migration agencies in China


Brian Su, CEO of Artisan Business Group, held fact-finding meetings with chief executives from Wailian Overseas Group, Maslink Group, KBL, Visas Consulting Group, Worldway Group during his visit in Beijing, Shanghai and Shenzhen in March. As EB-5 business is getting slower, the market is not completely dead.  Families with young children are still interested in EB-5 program. Chinese teenagers are also filing petitions on their own.  Overall, market is slower than ever.  Migration agencies are diversifying their service offerings.  

Due to recent change of Chinese constitution, there is a growing interest in foreign passport programs among elite business executives and owners. European and Caribbean programs are very popular this year.

Friday, March 23, 2018

Artisan Business Group hosts US real estate investment seminars in China

Artisan Business Group hosted two US real estate investment and sales training seminars in Beijing and Shenzhen in March 2018. Experts from the US lectured over 100 executives from migration agencies, wealth management firms and overseas investment consulting firms. As EB-5 market is getting much slower in China, many migration agencies are focusing their efforts in US real estate transactions. Two similar events will be scheduled this fall in Shanghai and Guangzhou.  To learn more about Chinese investments and hosting your own promotional events in China, contact us today.