Hong Kong Restrictions for Chinese EB-5 Funds Transfers

I understand Hong Kong has new restrictions on how much PRC nationals can wire per day out of Hong Kong. This is based on how much money one has in the bank. One person said he can wire out about $1 MM Hong Kong dollars or $200K USD per day.

Stakeholders Call

The USCIS stakeholders call was on September 10, 2014. USCIS answered a few key questions about redemption agreements, counting construction jobs, guarantees, and other issues, which we’ll review in a future blog.

EB-5 Legislative Proposal

Now that the 10,000 cap is being reached, there are a few proposals for Congress to add EB-5 visa numbers. Some propose increasing the number to 20,000 while others propose eliminating the need for a visa number for an investor’s spouse or minor children (but allowing them to immigrate with the principal EB-5 immigrant).

Another proposal is to just recapture the unused visas from the past 10 years. Congress already allocated them and they should be recaptured for this visa category. This is not an increase, just a recapture of what was not used.