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Posts Tagged ‘EB-5 Visa China’

25th April 2011

It recently came to this blogger’s attention that the Peoples’ Republic of China may soon be taking measures to decrease that country’s position in United States dollars. To quote directly from Xinhua at Xinhuanet.com:

BEIJING, April 23 (Xinhua) — China should reduce its excessive foreign exchange reserves and further diversify its holdings, Tang Shuangning, chairman of China Everbright Group, said on Saturday. The amount of foreign exchange reserves should be restricted to between 800 billion to 1.3 trillion U.S. dollars, Tang told a forum in Beijing, saying that the current reserve amount is too high. China’s foreign exchange reserves increased by 197.4 billion U.S. dollars in the first three months of this year to 3.04 trillion U.S. dollars by the end of March. Tang’s remarks echoed the stance of Zhou Xiaochuan, governor of China’s central bank, who said on Monday that China’s foreign exchange reserves “exceed our reasonable requirement” and that the government should upgrade and diversify its foreign exchange management using the excessive reserves.

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The Chinese media are not the only outlets reporting that the dollar holdings of the Chinese could be diminished. In fact, some media outlets are noting that China’s economy appears to be ascending in relation to the United States. To quote directly from MarketWatch.com:

For the first time, the international organization has set a date for the moment when the “Age of America” will end and the U.S. economy will be overtaken by that of China. And it’s a lot closer than you may think. According to the latest IMF official forecasts published two weeks ago, China’s economy will surpass that of America in real terms in 2016 — just five years from now.

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This news could be very important for the international business community and for those conducting business in China. At the same time, this news could prove important for the business community in the economies comprising the Association of Southeast Asian Nations (ASEAN). The ultimate effects of this news will likely play out over the coming months.

In the context of United States Immigration these developments could prove to be a boon to prospective immigrant investors seeking an EB-5 visa to take up Lawful Permanent Residence in the United States because the dollar could prove in coming months to show weakness. As a result, currency utilized by prospective immigrants could strengthen in relation to the United States dollar and thereby facilitate a less costly investment in real terms.

How this news impacts business and politics in the United States of America, the Kingdom of Thailand, and Greater Asia will likely be the topic of further postings on this blog in the future.

Those interested in information regarding legal services in Southeast Asia please see: Legal.

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10th January 2011

As this blogger has personally found himself at United States Embassies and Consulates overseas that were, previously unbeknown to him, closed due to observance of either an American or foreign holiday. In order to try to forestall this from happening to other travelers in the future, this blog routinely posts holiday closing schedules of various US Missions in Asia. The following is the holiday closing schedule of the United States Consulate in Shenyang, China:

The Consulate is open from 8:30 a.m. to 5:30 p.m. Monday through Friday. We are CLOSED on the following American and Chinese holidays:

Date

Weekday

Holiday

Nation

January 3 Monday New Year’s Day US & China
January 17 Monday Martin Luther King, Jr.’s Birthday US
February 2 - 6 Wednesday – Sunday Chinese (Lunar) New Year China
February 21 Monday President’s Day US
April 5 Tuesday Tomb Sweeping Day China
May 1 – 2 Sunday – Monday International Labor Day China
May 30 Monday Memorial Day US
June 6 Monday Dragon Boat Festival China
July 4 Monday Independence Day US
September 5 Monday Labor Day US
September 12 Monday Mid-Autumn Festival China

October 1 – 5

Saturday – Wednesday

Chinese National Day

China
October 10 Monday Columbus Day US
November 11 Friday Veterans’ Day US
November 24 Thursday Thanksgiving Day US
December 26 Monday Christmas Day US

To visit the official homepage of the United States Consulate in Shenyang’s website please click HERE.

Some individuals traveling to a US Post abroad are doing so because they are seeking services which can only be obtained from an American Citizen Services section of a US Mission abroad. Services such as this include, but are not limited to, issuance of a US Passport for those who have lost their original passport abroad, issuance of a Consular Report of Birth Abroad for an American child born overseas, or issuance of new visa pages for a previously issued passport.

Those foreign nationals seeking non-immigrant visa benefits are likely to process their application through a Non-Immigrant Visa (NIV) Unit of a US Mission abroad. Therefore those seeking a US Tourist Visa in China are likely to process their application through an NIV Unit of their nearest US Mission.

Those seeking US family visa benefits are likely to process their application through an Immigrant Visa Unit of a US Mission abroad. In general, the K-1 visa, although technically a non-immigrant US fiance visa, is treated as if it were an immigrant visa for processing purposes.

Those Chinese Citizens seeking employment based visas such as the L-1 visa or investment based visas such as the EB-5 Visa may be required to process an immigration petition through the United States Citizenship and Immigration Service (USCIS) prior to processing their visa application through one of the various US Posts in the Peoples’ Republic of China.

For related information please see: EB-5 Visa China.

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14th December 2010

Since recent economic developments have caused turmoil in the American economy, it is this blogger’s opinion that few are willing to look at the positive aspects of the United States economy. As a business platform the United States of America is still one of the best countries to host businesses conducting trade, providing services, or conducting manufacturing. To quote directly from another website, locationusa.com, which discusses issues surrounding the United States economy at length:

U.S. affiliates of foreign companies employ more than five million U.S. workers and support millions more indirectly. There is no question that investing in the United States brings with it many advantages. With a population of more than 300 million and the largest economy in the world, the United States is the most important market for any global company. The American work force ranks as one of the best educated, most productive, and most innovative in the world. As a place to do business, the United States offers a predictable and transparent legal system, outstanding infrastructure, and access to the world’s most lucrative consumer market.

Although it may seem counter-intuitive at first blush, legal immigration has a tremendous positive impact upon local economies. This is especially true where immigrants are investing in the United States economy or setting up a business in the USA. One of the primary ways in which immigrants can be beneficial to the USA is through foreign direct investment. Any money invested in the United States could be viewed as a net positive if one were looking at global competition for foreign direct investment as a “zero sum” game. Furthermore, investment in the USA creates jobs. As stated above, the United States labor market is one of the most sophisticated and efficient on the planet. This is one of the many reasons why foreign companies set up offices in the United States as American Citizens and Lawful Permanent Residents are some of the best educated and best equipped to handle complex and difficult tasks. Also, the infrastructure of the United States is ranked high compared to other nations around the globe. In short, the United States of America is an optimal location to engage in business activity aimed at attracting customers from both the USA, which has a very dynamic consumer market, and the world at large.

The EB-5 Immigrant Investor visa is a very useful travel document for those who wish to both invest and work in the United States. This visa is a highly sought after travel document since it provides the bearer with lawful permanent residence upon lawful admission to the USA at a Port of Entry. Those interested in obtaining an EB-5 Visa should conduct research and take note of the fact that Immigrant Investors wishing to enjoy an EB5 visa should be willing to invest a minimum of five hundred thousand (500,000) United States dollars. Those seeking to invest in an “un-targeted” EB-5 program should note that such an investment must generally be at least one million (1,000,000) US dollars.

Those who wish to invest in a small business in the United States may find the the US E-2 visa beneficial as this travel document may be used to travel to the USA to oversee an enterprise located stateside. It should be noted that the E-2 is a non-immigrant visa and therefore, those wishing to immigrate to the USA to reside may not be well served by an E-2 visa.

For related information please see: EB-5 Visa China or EB-5 Visa Thailand.

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9th November 2010

Since the topic of American Investment visas was first broached on this blog, this author has received some questions regarding the way in which United States Investment Visas actually operate in the real world. One of the most frequently asked questions pertaining to EB-5 visas is: “Can I get US Citizenship by investing in the United States?” The answer to that question is somewhat nuanced and it requires one to have a rather in-depth understanding of the EB-5 Immigrant Investor visa and the process for obtaining this type of travel document.

There are some countries around the world which have programs whereby investors can obtain virtually instantaneous citizenship simply by investing capital into the economy of the country issuing the nationality documents. In the United States, there is no program that operates this way. However, the EB-5 visa does grant the visa holder lawful permanent residence in the USA. This is a substantial benefit and should not be taken for granted as Lawful Permanent Residence is a highly sought after status that allows the Permanent Resident to permanently reside and work in the United States. Many often refer to Lawful Permanent Residence as “Green Card” status. That said, Lawful Permanent Residence is not American Citizenship. Those in the USA in Green Card status are not permitted to vote in elections, run for political office, and such individuals also cannot obtain a US passport. Although, those in Lawful Permanent Resident (LPR) status may be eligible to obtain a US reentry permit which allows the bearer to leave the United States for as long as two years without raising the presumption of residential abandonment.

Although there is no “citizenship by investment” program in the USA, the EB-5 visa could be the first step in the United States Naturalization process. For example, if an immigrant investor is granted an EB-5 visa and enters the United States, then that individual would be granted permanent residence upon lawful admission. After residing in the United States for a statutorily prescribed period of time, and assuming all other criteria are met, it may be possible for an EB-5 visa holder to apply for naturalization. Naturalization is the process whereby a foreign national becomes a United States Citizen. The process can be somewhat cumbersome and for those unaccustomed to dealing with immigration matters it may seem complex and frustrating at times, but upon approval of a petition for naturalization an EB-5 Immigrant Investor could theoretically obtain United States Citizenship.

Even though the United States does not offer a direct “Citizenship by Investment” program, one could argue that the US offers a “Path to Citizenship” by Investment program in the form of the EB-5 visa which places holders of said visa on track to possible American Citizenship should all other criteria be adhered to and the physical presence requirement be met.

For related information please see: EB-5 Visa Thailand, EB-5 Visa China, or EB-5 Visa Taiwan.

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28th October 2010

Frequent readers of this blog may have noticed that the administration routinely posts the holiday closing schedules of various United States Missions in Asia in an effort to forestall possibly fruitless trips to a US Embassy or US Consulate overseas. Many American Missions close and do not provide routine services in observance of both United States Federal holidays as well as local holidays in the Host Country. The following information was quoted directly from the official website of the United States Consulate in Hong Kong (this Post also has Consular jurisdiction over Macau):

The following have been designated as official holidays for 2010. The Consulate General will be closed to the public on these days.

Friday, January 1 New Year’s Day A/L
Monday, January 18 Martin Luther King’s Birthday A
Monday, February 15 President’s Day/Second day of the Lunar New Year A/L
Tuesday, February 16 Third day of the Lunar New Year L
Friday, April 2 Good Friday L
Monday, April 5 Easter Monday L
Tuesday, April 6 The day following Ching Ming Festival L
Friday, May 21 The Buddha’s Birthday L
Monday, May 31 Memorial Day A
Wednesday, June 16 Tuen Ng Festival L
Thursday, July 1 Hong Kong Special Administrative Region Establishment Day L
Sunday, July 4
(observed Monday, July 5)
Independence Day A
Monday, September 6 Labor Day A
Thursday, September 23 The day following Chinese Mid-Autumn Festival L
Friday, October 1 National Day L
Monday, October 11 Columbus Day A
Thursday, November 11 Veterans Day A
Thursday, November 25 Thanksgiving Day A
Saturday, December 25
(observed Friday, December 24)
Christmas Day A
Monday, December 27 First Week-Day after Christmas Day L
Saturday, January 1
(observed Friday, December 31)
New Year’s Day A

A – American Holiday/L – Local Holiday

Notes: Four local holidays falling on Saturdays are not included in the 2010 holiday schedule (the day preceding Lunar New Year’s Day, February 13, the day following Good Friday, April 3, Labour Day, May 1, and Chung Yeung Festival, October 16).

Both Hong Kong and Macau are special administrative regions of the People’s Republic of China and have considerable autonomy under Chinese law. That said, those Americans interested in receiving services such as issuance of a Consular Report of Birth Abroad (CRBA), new US passport, new visa pages, or notary services, etc. are well advised to contact the American Citizen Services (ACS) Section of the nearest US Mission in an effort to schedule an appointment at ACS. Scheduling an appointment is an efficient way of streamlining services at an American Mission abroad as Consular Officers can prepare in advance to service a prospective customer’s needs.

Those interested in matters pertaining to United States Immigration are well advised to research the issue before contacting an American Mission abroad to set up an appointment for visa interview. Many non-immigrant visa categories (ex. F1 visa, B1 visa, B2 visa)  may not require the initial filing of a visa petition in the USA. However, non-immigrant visas such as the K1 visa and the K3 Visa do require the initial approval of a petition at the United States Citizenship and Immigration Service (USCIS). Also, immigrant visa categories such as the IR1 Visa and the CR1 Visa require the initial filing of a petition with USCIS. Although, some American Consulates and Embassies abroad may allow Direct Consular Filing (DCF) under certain limited circumstances.

For related information please see: US Visa China or EB-5 Visa China.

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