Analysis of New U.S. Immigration Policy — Manhattan 9 Seminar
Consultation Appointment: 400-138-2929
Address: 7th Floor, Tower 1, Century Link Plaza, 1198 Century Avenue, Pudong, Shanghai
Worldway Immigration Group latest news: A draft bill titled "EB-5 Investment Immigration Visa and Regional Center Program Comprehensive Reform Act" or "EB-5 Reform Act" has been released. It is reported that this draft bill was jointly proposed by three influential political figures in the U.S. Congressional judiciary: Chuck Grassley, Bob Goodlatte, and John Cornyn.
Which amendments in the new draft bill will affect the future project selection of EB-5 investors?
1. Adjustment of investment amount: $925,000 or $1,025,000 (adjusted every 3 years based on CPI)
Investments in projects that meet any of the following conditions are eligible for the lower investment amount of $925,000:
I. U.S. Territories (e.g., Puerto Rico, U.S. Virgin Islands, Northern Mariana Islands)
II. Closed military bases
III. Small business investment funds
2. Amendment to job creation requirements: Each investor is required to create 9 or 12 jobs
Investors in projects that meet any of the following conditions are eligible for the lower job creation requirement (9 jobs):
I. Rural or Urban Priority Investment Area
II. U.S. Territories
III. Closed military bases
IV. Small business investment funds
3. Visa reservation provisions:
I. Rural areas: 1,450 visas reserved annually
II. Urban Priority Investment Area: 1,450 visas reserved annually
III. Infrastructure projects: 200 visas reserved annually
4. Definition requirements for "Urban Priority Investment Area":
Must meet 2 of the following 3 conditions:
I. Unemployment rate is 1.5 times the national average unemployment rate
II. Poverty rate reaches 20%
III. Median household income is not higher than 80% of the higher of the state or MSA median household income
Compared to the definition requirements for "Urban Priority Investment Area" in the draft bill previously proposed by Grassley and Leahy:
Must meet 2 of the following 3 conditions:
I. Unemployment rate is 1.5 times the national average unemployment rate
II. Poverty rate reaches 30%
III. Median household income is not higher than 60% of the higher of the state or MSA median household income
It can be seen that the definition requirements for "Urban Priority Investment Area" in this draft bill are more lenient.
Special Note: According to the new draft bill, for immigration applications that have already been approved, if they submit an application within one year of the bill's effective date to obtain authorization for definitions such as "Urban Priority Investment Area," no additional investment amount is required, and they are allowed to use the 1,450 priority visa quota.
Currently, the only EB-5 project in Manhattan with the potential to shorten the visa waiting period and offer first-priority repayment—the Manhattan 9 Luxury Boutique Hotel—has become one of the most popular projects in the EB-5 market. Once launched, this project was highly sought after by investors, sparking a wave of U.S. investment immigration.
Project Introduction
The Manhattan 9 Luxury Boutique Hotel project is located at 9 Orchard Street in the Lower East Side of Manhattan, New York City. The project will renovate the 105-year-old, 12-story Jarmulowsky Bank Building while constructing a new 6-story building.
The old and new buildings will be integrated and operated as a luxury boutique hotel. The hotel will feature 116 luxury guest rooms, a 600-square-meter bar and lobby, and 930 square meters of meeting and event space.
Project Advantages
● The first EB-5 project in Manhattan that meets the "Urban Priority Investment Area" definition of the draft bill, with the potential to shorten the visa waiting period
● A rare EB-5 project in the market with first-priority repayment in Manhattan
● High developer equity investment ratio and low debt ratio
● Excellent project refinancing capability
● Sufficient job creation and completion guarantee
● Project has commenced, and some jobs have already been created
● Implements industry-leading high compliance standards to ensure high transparency in EB-5 fund supervision and usage
● Refund guarantee provided by the developer's wholly-owned subsidiary if the investor's I-526 is denied
● Superior geographical location and strong market demand
● Top-tier developer DLJ and EB-5 United, along with Worldway, join forces again following the Four Seasons Hotel and Resort project
