EB5NewsBlog.org by Artisan Business Group, Inc. - If you're developing an EB-5 Regional Center or ready to present your projects to Chinese emigration agencies, or want us to assist in evaluating project viability and marketability, please email us at firstname.lastname@example.org or call Mr. McKay at 217.899.6661. Let us supercharge your EB-5 capital-raising process!
Chinese real estate developers Greenland, Oceanwide Holdings, Shenzhen Hazens, Shanghai Construction Group, Lifan Group and Gemdale are developing their own projects in Los Angeles. We expect to see more Chinese developers come to the United States to build their own projects, some utilizing EB-5 capital. Check out the recent LA Times article "They built towering new cities in China. Now they're turning to downtown L.A."
We will discuss new trends at Chinese Real Estate Private Equity and EB-5 Finance Forum on October 26th in Newark, NJ.
(Source: Empire State News) Republican U.S. Senate candidate, Wendy Long, has leveled charges
against her Democrat rival, U.S. Senator Chuck Schumer, issuing a press
release with a headline that reads: “’Corrupt Chuck’ Schumer is the King
of ‘Pay to Play’: Selling EB-5 Visas to Wealthy Real Estate Investors
for Campaign Money.” Read more at http://www.empirestatenews.net
(Source: CASA GRANDE DISPATCH) The chief operating officer of AZ Sourcing, parent company of
PhoenixMart, is certain the project will be able to continue without the
same number of foreign investors it originally secured. Read more story at http://www.trivalleycentral.com/
Brian Su recently traveled to Montana to met with project developers and tour current construction site. For more information on EB-5 and Chinese private equity financing, join us in NYC on October 26 at the Chinese Real Estate Private Equity and EB-5 Forum.
U.S. Citizenship and Immigration Services (USCIS) invites you to participate in a stakeholder teleconference on Monday, August 29, from 1 to 2 p.m. (Eastern) to
discuss the EB-5 Immigrant Investor Program. Due to telephonic issues
encountered during the July 28 EB-5 engagement, we will host a second
engagement to address questions that were not able to be heard or shared
during the previous engagement. You may view the remarks made during
the July 28 EB-5 engagement on this page.
To join the teleconference:
Use the information below to join the session. We recommend calling in 10 to 15 minutes before the teleconference begins.
Super film star and former California Governor Arnold Schwarzenegger made an appearance at a California EB-5 hotel project promotional event in Shanghai over the weekend. The super star has a great reputation and strong followings in China. According to the organizer, the event attracted over 1000 audiences, many are potential investors. This year former US ambassador Gary Locke also attended multiple EB-5 related events in China. More and more former officials have jumped on the EB-5 bandwagon! To learn more about EB-5 program, contact us today.
The receiver for Jay Peak Resort says he is hiring a Washington attorney
to lobby Congress. Michael Goldberg, the court-appointed receiver for
the Securities and Exchange Commission, wants to change federal EB-5
laws in an effort to obtain permanent green cards for defrauded
investors in Jay Peak projects. Read more report at https://vtdigger.org/
Artisan Business Group has recently hosted nearly 30 migration agents for annual professional development training in Chicago, one of the major topics for discussion is the EB-5 market challenges and future trends in China. As Chinese high net worth and middle class families continue to show their desire to relocate to the US, emigration market in China will keep booming in next few years, however, market is not only growing but also rapidly changing.
In the past year, Chinese government ordered its financial institutions to tighten up the outflow of foreign currency from individual banking customers in order to keep the nation's foreign currency reserves at an acceptable level. The strict measures forced many customers to exchange their RMBs into US dollars. Many customers have started thinking how to protect their dollars, investors are either purchasing real estate properties in Europe or investing through EB-5 immigrant investor program; some may even purchase offshore and US life insurance policies, last year HK's life insurance agencies sold billions of dollars worth of life insurance policies to the mainland Chinese. The weakening RMB is pushing more Chinese people to think about purchasing real properties in foreign markets such as Europe, the US, and even countries like Japan, Malaysia and Singapore.
As US real estate markets in NYC, California, Washington, Texas and Florida are getting more popular to Chinese investors and buyers, EB-5 investor market in China is definitely slowing down for two main reasons: 1) USCIS' long processing time for I-526 approvals, almost everyone is complaining about their frustrations. 2) EB-5 quota backlog is another concerns for many potential investors. As a result of above mentioned issues, many Chinese migration agents turn their attention to real estate market which can help them make quick money, the most popular destinations are Irvine California and Seattle Washington, in addition to New York. Some investors are also seeking alternatives such as L-1A/EB-1C visa program, however the majority of clients would not fit in the program. A few are then seeking for cheaper alternatives such as EB-3 visa program.
No matter how the market changes in China, people desire to come to US quickly without much strings attached, EB-5 program continues to be a perfect fit. Most of Chinese migration agents are not very concerned about the possible increase on investment amount from US$500k to $800K or even higher, as EB-5 program is the only easier and faster way for the majority of Chinese families who are eager to be in the US for the future of their children. The increased investment means more compensation for migration agents!
In regard to promoting and marketing new EB-5 projects in China, we see many gimmicks using former ambassador, former governor, former Congressman or retired mayors who are trying to help project developers for capital raise. Some projects are offering due diligence reports, insurances, and third party construction management services, and high pays to agents, etc. (To be continued)
(Source: Black Hill Pioneer) The Daugaard
administration is trying to overturn the federal decision to strip South
Dakota state government of its status as an EB-5 immigrant investor
A law firm
representing Governor Dennis Daugaard filed the state’s response Monday to
the U.S. Citizenship and Immigration Services. The thrust of the state’s
response is it shouldn’t be penalized for the previous management. See report at http://www.bhpioneer.com/
(Source: Mingtiandi) Shanghai Municipal Investment (SMI), the developer of the 128-storey
Shanghai Tower, is said to be partnering with New York’s Extell
Development on a $2.98 billion project in Manhattan. Documents
filed in Delaware, and reported by The Real Deal, indicate that Extell’s
Central Park Tower Project may be renamed the SMI Central Park Tower,
with other records at the New York attorney general’s office showing
further evidence of the Chinese state-owned firm’s involvement in the
1,550-foot-tall (472 metre) combined commercial and residential
development. See story at http://www.mingtiandi.com/
Real estate investment fund executives from China visit Artisan Business Group and discussed collaboration on a real estate development project in Texas. In the past 12 months, Artisan Business Group has successfully assisted developer clients in facilitating of $150 million inbound investments for hotels, condo towers, apartments, senior living and school projects in California, Florida, Illinois, Puerto Rico, South Carolina and Tennessee.
Artisan team spent the week visiting a client's real estate development project in Oregon alongside Chinese emigration professionals. The team toured the project site and discussed recent updates with Chinese emigration market. Join Artisan Business at the 2016 Chinese Real Estate Private Equity & EB-5 Investment Forum on October 26th in New York City area to discuss current trends in Chinese private equity.
(Source: VTdigger.org) Gov. Peter Shumlin has tapped Lucy Leriche to run the Agency of Commerce and Community Development. Leriche
has served as deputy secretary of the agency for four years. In that
role, she has been involved in business recruitment and retention,
downtown development efforts, tourism and marketing. She is
replacing Patricia Moulton who is leaving the top post on Sept. 9 to
become interim president of Vermont Technical College. Read a full report at https://vtdigger.org/
Artisan Business Groupwill be hosting2016 Chinese Private Equity and EB-5 Investment Forum on October 26, 2016 in New York City area. The
much-anticipated private equity and EB-5 investment conference
will bring together the most senior-level executives and professionals
from the industry's most active market participants for a day of high
level discussion, peer to peer exchanges and one on one networking
sessions. The event will have limited seats for senior-level executives
from both the US and China and will feature honest and in-depth
dialogues with the leading experts on how to effectively attract private
equity and EB-5 investments from China. In addition, the Forum
offers unique networking sessions that will enable participants to
establish useful and productive contacts and generate fresh deal flow
or potential investment opportunities as well as possible funding leads
from equity partners in China. Invited speaker faculty will soon be
announced. Sponsorship program is available, contact us at email@example.com.
(Source: Argus Leader) A pair of Democratic congressional candidates is calling for the
elimination of an investment-for-visa program following news last week
that their Republican opponents would aim to reform it. Read the news report at http://www.argusleader.com/
September 30th is fast approaching and the Chinese market is already feeling its effects. The EB-5 Regional Center Program will expire at the end of this Fiscal Year with less than 2 months remaining. Investors are uncertain of whether the program will be renewed, changed or temporarily extended bringing much uncertainty to the market. Chinese emigration professionals are slowing down their marketing efforts with existing projects and few are starting any new projects of substantial size. We expect the market to stay slow during next 2 months with a small jump of investors' petitions beating the September 30th deadline.
(Source: LA Times) A dozen Korean nationals this week sued Wilshire Bank for fraud,
negligence and breach of contract, saying the Koreatown bank should have
prevented attorney and investment manager Justin Moongyu Lee from
ripping them off. Read the report at http://www.latimes.com/