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EB-5 Investor Visas: Capital Gains for U.S. Economy
This employment-based visa preference category is a path to permanent residency for immigrants.
By: Stella M. Tsai and Allen C. Tucci
Congress launched the EB-5 Investor Visa Program in 1990 to raise foreign capital and boost the economy by adding, in theory, 40,000 full-time jobs. This employment -based visa preference category is a path to permanent residency for immigrants. The typical EB-5 visa applicant invests a minimum of $500,000 in a commercial enterprise located in high unemployment areas. This investment must create at least ten full- time jobs over a two-year period of conditional permanent residency.
For some small to mid-sized businesses in the United States, this EB-5 program represents a tidy source of capital to be supplied by the new legions of millionaires in the People's Republic of China with substantial liquidity in pursuit of a path to permanent residency in the United States and a tangible investment opportunity.
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Immigration Enforcement: Government Increases Efforts to Curb Illegal Employment
of Immigrants
Proper screening and hiring procedures, as well as document retention, are key to compliance.
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By Gregory J. Palakow
Businesses big and small across the United States have experienced a significant increase in immigration-related compliance audits, raids, visits, fines and prosecutions related to immigrants in the workplace. The preliminary statistics for 2011 are indicators that this year, U.S. Immigrations and Customs Enforcement (ICE) will perform more audits, conduct more raids, generate more fines and engage in more prosecutions than ever before.
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Practical Value Added Tax Review
U.S. businesses that intend to conduct business abroad should consider the VAT implications early on.
By: Allen C. Tucci Value Added Tax, commonly referred to as VAT, is a tax on consumption which is levied in many countries, including all countries of the European Union. VAT is the most important and most misunderstood tax for U.S. business trading abroad. As a basic principle, VAT is intended to be borne by the final consumer of a product or service. In practice, however, the concept of VAT means that each business in a supply chain reports to the relevant taxing authority for the value that it has added within the supply chain. This is the principle that makes VAT differ from a sales tax. A sales tax is only levied on the final consumer of a product or service. All members of the supply chain are exempt from paying sales tax on the product or services incorporated into its output. A VAT, on the other hand, is charged at every level of production on the incremental value added to the end of product or service by a company. Read More |
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Putting the INSOL Fellowship to the Test
An intensive course given by an international association of insolvency professionals quickly spawns a real-life cross-border bankruptcy case reaching to China.
By: Stephen M. Packman
INSOL fellows may hope, but few expect their newly-honed international skills will be put to the test immediately after successfully completing the arduous but rewarding course.
So receiving a call late at night in February 2009 from a Fellowship classmate in Hong Kong just weeks after graduating as a Fellow was an almost immediate dose of international reality. The enquiry concerned whether my firm might be interested in representing liquidators of a now defunct furniture manufacturer. The company, Decoro Ltd. ("Decoro") and its subsidiaries, manufactured sofas and other furniture in two huge factories in Shenzhen, China.
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