by cmb | Jul 7, 2023 | News
CMB received great news this week, our Group 78 EB-5 partnership just received an I-956F approval! The I-956F is a new petition introduced by the United States Citizenship and Immigration Services (USCIS) following the passage of the EB-5 Reform and Integrity Act of 2022 by Congress. Under the Reform and Integrity Act (RIA), Regional Centers are required to file an I-956F petition for every investment offering. Importantly, this approval also shows an ongoing commitment by USCIS to complete the timely adjudication of high-unemployment area projects.
CMB Group 78’s I-956F approval also marks another milestone in CMB’s long-term relationship with Hillwood Development Company. Group 78 featured the development and construction of warehousing/logistics projects in Southern California. This Group 78 I-956F approval is one of the first in the industry. It indicates that the USCIS has evaluated the associated EB-5 project and believes it will meet all the requirements of the program, primarily the Targeted Employment Area (TEA) and job creation requirements. The Group 78 investment is located in a TEA also known as a high-unemployment area, which after approval of their I-526E petitions, qualifies post-RIA investors for set-aside visas under the high-unemployment TEA category. Industry practitioners hope that the new I-956F petition process, along with the new associated I-526E petition, will help to reduce adjudication times for post-RIA investors.
Previously, the legacy I-526 petition was the first step in the EB-5 process. The legacy I-526 was adjudicated based on information related to both the EB-5 investor and the EB-5 project. Therefore, project-related information could potentially be reevaluated with every individual investor’s petition. In contrast, the new I-526E petition includes a field for an I-956F receipt number. In theory, once an I-956F petition is approved, post-RIA investors in that EB-5 partnership should see their I-526E petitions adjudicated based solely on investor-specific criteria as deference will be provided to the approved I-956F petition referenced in their filing.
This new adjudication process should be far more efficient, and it’s the hope of many in the industry that processing times will decrease substantially. We at CMB believe that this approval is a huge accomplishment for our Group 78 investors, and we hope to see more individual I-526E approvals in the near future.
CMB EB-5 partnerships have seen recent success at the I-829 staged. In the past month, we’ve been notified of the first I-829 approvals in CMB Group 46, CMB Group 51, and CMB Group 57. An I-829 approval is the single most important milestone in the EB-5 process and grants investors permanent residence in the United States. CMB has now achieved these approvals in 44 separate EB-5 partnerships and we maintain a 100% project approval rate with the USCIS.
If you are currently considering the EB-5 program, contact us today to schedule a consultation with our investment specialists. We have EB-5 investment opportunities available for subscription that qualify for set-aside visa categories under the RIA!
by cmb | Jun 22, 2023 | News
CMB received great news this week, our Group 78 EB-5 partnership just received an I-956F approval! The I-956F is a new petition introduced by the United States Citizenship and Immigration Services (USCIS) following the passage of the EB-5 Reform and Integrity Act of 2022 by Congress. Under the Reform and Integrity Act (RIA), Regional Centers are required to file an I-956F petition for every investment offering. Importantly, this approval also shows an ongoing commitment by USCIS to complete the timely adjudication of high-unemployment area projects.
CMB Group 78’s I-956F approval also marks another milestone in CMB’s long-term relationship with Hillwood Development Company. Group 78 featured the development and construction of warehousing/logistics projects in Southern California. This Group 78 I-956F approval is one of the first in the industry. It indicates that the USCIS has evaluated the associated EB-5 project and believes it will meet all the requirements of the program, primarily the Targeted Employment Area (TEA) and job creation requirements. The Group 78 investment is located in a TEA also known as a high-unemployment area, which after approval of their I-526E petitions, qualifies post-RIA investors for set-aside visas under the high-unemployment TEA category. Industry practitioners hope that the new I-956F petition process, along with the new associated I-526E petition, will help to reduce adjudication times for post-RIA investors.
Previously, the legacy I-526 petition was the first step in the EB-5 process. The legacy I-526 was adjudicated based on information related to both the EB-5 investor and the EB-5 project. Therefore, project-related information could potentially be reevaluated with every individual investor’s petition. In contrast, the new I-526E petition includes a field for an I-956F receipt number. In theory, once an I-956F petition is approved, post-RIA investors in that EB-5 partnership should see their I-526E petitions adjudicated based solely on investor-specific criteria as deference will be provided to the approved I-956F petition referenced in their filing.
This new adjudication process should be far more efficient, and it’s the hope of many in the industry that processing times will decrease substantially. We at CMB believe that this approval is a huge accomplishment for our Group 78 investors, and we hope to see more individual I-526E approvals in the near future.
CMB EB-5 partnerships have seen recent success at the I-829 staged. In the past month, we’ve been notified of the first I-829 approvals in CMB Group 46, CMB Group 51, and CMB Group 57. An I-829 approval is the single most important milestone in the EB-5 process and grants investors permanent residence in the United States. CMB has now achieved these approvals in 44 separate EB-5 partnerships and we maintain a 100% project approval rate with the USCIS.
If you are currently considering the EB-5 program, contact us today to schedule a consultation with our investment specialists. We have EB-5 investment opportunities available for subscription that qualify for set-aside visa categories under the RIA!
by cmb | May 25, 2023 | News
CMB Regional Centers is proud to announce the election of Noreen Hogan as the first female officer elected as Vice President of the leading EB-5 industry trade group IIUSA.
Ms. Hogan is a well-respected leader in the EB-5 industry, having served as the President of CMB Regional Centers since 2017. With the history of her company, CMB Regional Centers, spanning nearly 30 years in the EB-5 industry, Ms. Hogan brings a wealth of knowledge and expertise to her new role as Vice President of IIUSA.
In this new position, Ms. Hogan will work alongside the officers, board members and other members of the IIUSA leadership team to help shape the future of the EB-5 industry. She will also serve as an advocate for the industry, working closely with policymakers and other stakeholders to promote the benefits of the EB-5 program.
As Ms. Hogan moves into this new leadership role, CMB’s CEO and Founder Pat Hogan has announced that he is stepping down from his position on IIUSA’s board of directors. After serving as the longest tenured board member, Mr. Hogan said: “of course, he is proud of his daughter and that IIUSA needed new blood to continue the work to address the issues the new language in the recently passed reauthorization legislation and the new slate of leadership at IIUSA is poised to do just that.”
“We are thrilled to have Noreen Hogan join our leadership team as the first female officer elected as Vice President of IIUSA,” said Aaron Grau, Executive Director of IIUSA. “Her extensive experience in the industry and her commitment to promoting the benefits of the EB-5 program will be invaluable as we work to shape the future of the industry.”
“I am honored to have been elected as the first female officer of IIUSA, and I look forward to working with the other members of the leadership team to promote improvements to the EB-5 program, including making the program permanent,” said Noreen Hogan, President of CMB Regional Centers. “Together, we can help ensure that the EB-5 program continues to be a vital source of capital for job-creating projects in economically challenged communities across the country and make it a safer program for the EB-5 investors.”
About CMB: Regional Centers: CMB Regional Centers is a leading provider of investment opportunities for foreign investors seeking to participate in the EB-5 Immigrant Investor Program. With nearly 30 years of experience in the industry, CMB has helped create over 250,000 new American jobs in communities across the United States.
About IIUSA: Invest in the USA (IIUSA) is the leading industry trade group for the EB-5 Immigrant Investor Program. With over 300 member organizations, IIUSA represents a broad cross-section of stakeholders in the industry, including regional centers, developers, and attorneys.
Contact: For more information, please contact us HERE .
by cmb | Apr 5, 2023 | News
CMB recently accepted its 6000th EB-5 investor. This is a remarkable and humbling milestone. Over the last 25 years, across 82 EB-5 investment partnerships, we’ve had the opportunity to help investors from all over the world pursue their American Dream through the EB-5 immigrant investor program. Approximately 2,000 of those investors have now completed the EB-5 process (approval of their I-829 petition) and have achieved permanent residency in the United States.
CMB’s EB-5 investments have created approximately 200,000 jobs across the United States. Our investors have helped finance infrastructure, renewable energy projects, residential developments, hotels, industrial/logistics facilities, and retail centers in areas of the country where job creation is most needed. We are extremely proud to be a part of a program that has provided such tremendous growth and development to underserved communities.
The CMB family includes investors from 103 countries. We regularly travel all over the world to meet with prospective investors considering the program, as well as our current investors navigating the immigration process. Our large investor relations staff speaks 14+ languages, allowing us to work with investors from any region. CMB and its affiliate employ staff that live in 10 different countries, across 5 continents. Our dedication to our clients and our large and diverse team of professionals allows us to meet with prospective investors all around the world.
In March of 2022, congress reauthorized the EB-5 program through Sept. 2027. The passage of the RIA (EB-5 Reform and Integrity Act) has strengthened the program by providing a clear path forward for future immigrant investors interested in migrating to the United States. The inclusion of set-aside visas for specific EB-5 projects provides compelling options for investors from countries that previously faced longer wait times due to visa retrogression and grandfathering provisions in the bill add certainty and security to the EB-5 process for new investors.
Over the years we’ve established relationships with top U.S. real estate developers to craft incredible EB-5 investment opportunities. In particular, our EB-5 investment partnerships with Hillwood Development Company have helped to meet the high demand for industrial/logistics space created by extreme growth in the ecommerce sector. Hillwood and CMB have collaborated on 35 separate investments, which have utilized over $1 Billion in EB-5 investment capital. CMB partnerships featuring Hillwood projects continue to maintain a 100% project approval and loan repayment rate. We believe Hillwood and CMB represent the most successful lender/borrower relationship in the EB-5 industry.
The future looks bright for the EB-5 immigrant investor program! CMB is one of the oldest and most successful regional center operators in the industry. We currently have multiple high quality EB-5 investment opportunities featuring Hillwood projects open for subscription. If you are interested in learning more, contact us today!
by cmb | Jan 24, 2023 | News
In an exciting announcement published earlier this afternoon, the USCIS stated that Permanent Resident Cards (Green Cards) held by immigrant investors who have filed their I-829 petition for permanent residency will be valid for 48 months beyond the card’s expiration date.
They state in the notice:
We will issue new receipt notices to eligible conditional permanent residents who previously received notices with an extension shorter than 48 months and whose cases are still pending.
The USCIS previously announced a similar extension of 24 months beyond the card’s expiration date in September of 2021.
This is great news! You can read the full announcement HERE.
