a dependent, we did not have much time to do due diligence.
I still remember us sitting in the agent’s office with brochures
of eight projects in front of us, and one offer stood out. It
was Time Warner’s film and television production projects,
sponsored by CanAm’s Los Angeles regional center. In
January of 2011, our family submitted the I-526 application.
Where are you now
in the EB-5 process?
In July of 2014, we passed the
consular interview and arrived
in the U.S. for the first time.
Four years later, the project
fulfilled the job - creating
requirements and our I - 829
application was approved. In
October of 2018, we received
unconditional green cards.
Re c e ntly, I was told by the
regional center that we would
be able to receive repayment
by the end of this year. This
means that we have gone
through the whole EB-5
process within eight years.
Given all the obstacles we have
encountered when applying for
non-immigrant visas, I must say I am surprised how lucky
we are in the EB-5 journey.
Where do you live now?
How is your life after you moved to the United States?
Living in Tianjin for a long time, everyone in my family was tired
of severe winters. We all wanted to move to a warm place with
sunshine and beaches. It did not take us long to decide on Los
Angeles county as our new home. Moreover, Hollywood is
here. That was all I asked for.
2011 as it is today, there has always been an annual limit on the
amount of foreign currency one could purchase. With a family
of four, we could only get a total of $200,000, which fell far
short of the requirement for EB-5. We had to call everyone we
knew and implore them to allow us to use their quota. That is
perhaps the biggest challenge we had during the EB-5 process.
What does EB-5 mean
to you and your family?
My family has travelled to many
places in the world, but the U.S.
was never on our itineraries
a f t e r t h e v i s a d e n i a l s . We
simply gave up. It was EB-5 that
rekindled our hope and offered
us an alternative pathway to this
country.
EB-5 also brought significant
benefits to my brother too. Before
we started EB-5, my parents tried
to send him here with a student
visa. But he failed the student visa
interview too. If it wasn’t for EB-5,
he would never have had access
to the world-class education
offered by the U.S.
I did not realize how important a green card means to a
college graduate like me until recently, when I started to look
for jobs. I find that almost all recruiters ask about applicants’
needs for a work visa sponsorship. Many of my schoolmates
with good grades and abundant experience have been weeded
out during the first round of interviews, simply because they
are international students and do not have green cards. I do
not need to worry about status or work permit issues. EB-5
has given me an upper hand against my peers.
After getting my conditional green card, I applied for several
art colleges in the Los Angeles area and was admitted to OTIS
College in 2015. However, I have to admit that competitions in
the U.S. digital media industry is much fiercer than I expected.
After carefully evaluating my options and discussing with my
parents, I decided to transfer to an architecture major. What advice do you have for other investors
who wants to use this program?
I understand that EB-5 investors from China are facing
significant challenges. Some of my friends were tempted
by my EB-5 experience but deterred by the backlog and
currency controls. However, I still think potential investors
should take action and start the EB-5 application while they
still can. Changes in international and domestic situations are
unpredictable. Today, you have enough money to meet the
requirement and can transfer the capital overseas. Tomorrow,
you might find yourself ineligible due to a higher investment
threshold or stricter controls on outbound investment.
I graduated from college this May and am now working on
several design projects with my professor. I also have a project of
my own. The house I live in was built in the 1950s. Although the
interior design is modern, the structure and façade of the house
are outdated. I want to use my designing skills to renovate the
house, making it the very first architecture work of my own. The EB-5 program is a win-win offer for both foreign investors
and the U.S. economy. It brings my brother the possibility to
receive a top-notch education and me the competitive edge
against other job hunters with similar backgrounds. I will
still encourage my friends who have the financial ability to
participate in the EB-5 program.
Now we have settled down in Culver City. It is located close to
downtown Los Angeles and the airport. My mother, my brother
and I stay here most time of the year, while my father travels
back and forth to manage his business in China.
What was the biggest challenge
during the EB-5 process of your family?
Although the capital control policy of China was not as strict in
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