Problems at Amlife EB5 Investor
Oct 4th 2013, 2:08 pm
#181
Forum Regular
Joined: Sep 2013
Posts: 76
Re: Problems at Amlife EB5 Investor
Oct 5th 2013, 12:27 am
#183
Just Joined
Joined: Sep 2013
Posts: 15
Re: Problems at Amlife EB5 Investor
Hi eb51R,
Humrmrmr... I'm no expert either (much to the contrary), but it was pretty clear to me that, in projects where the investor put his/her money in a scroll account, if he/she gets no I-526, the investor can request his/her money back directly from the scroll company, it doesn't even have to involve the RC...
I did some research on the subject and from what I was able to find, they are exactly the same project (14575 innovation LP was the company formed to receive the investor funds and buy the real estate for the Riverside One project).
If I were you, I would talk to your immigration lawyer, not to the RC (as you stated, there are obvious conflicts of interest in anything they say to you in such a situation).
Of course, what's happening to Riverside One could happen to any EB-5 project, but this one seems to be specially "blighted"... if I could transfer to another project for zero cost, I would certainly do it, specially for another project in the RC "proper venue" (ie, Seattle in the case of AmLife).
I get the impression that AmLife's participation on the Riverside One project was basically "renting" their SoCal RC to the 14575 innovation LP folks, which are the ones really managing the project (and working the legal issues, specially the response to the untimely RFEs/NOIRs on the I-529s). But of course I can be wrong...
Humrmrmr... I'm no expert either (much to the contrary), but it was pretty clear to me that, in projects where the investor put his/her money in a scroll account, if he/she gets no I-526, the investor can request his/her money back directly from the scroll company, it doesn't even have to involve the RC...
I did some research on the subject and from what I was able to find, they are exactly the same project (14575 innovation LP was the company formed to receive the investor funds and buy the real estate for the Riverside One project).
If I were you, I would talk to your immigration lawyer, not to the RC (as you stated, there are obvious conflicts of interest in anything they say to you in such a situation).
Of course, what's happening to Riverside One could happen to any EB-5 project, but this one seems to be specially "blighted"... if I could transfer to another project for zero cost, I would certainly do it, specially for another project in the RC "proper venue" (ie, Seattle in the case of AmLife).
I get the impression that AmLife's participation on the Riverside One project was basically "renting" their SoCal RC to the 14575 innovation LP folks, which are the ones really managing the project (and working the legal issues, specially the response to the untimely RFEs/NOIRs on the I-529s). But of course I can be wrong...
Thanks.
I am kind of tired of hearing from them already, because all the time it says I need to wait to see USCIS answers for 14575 innovation LP, and I have to wait to see some Riverside One investors who already applied for I-526..
I actually invested in May 12.
Can you believe I am not able to even apply for I-526?!
Oct 8th 2013, 7:36 am
#184
Forum Regular
Joined: Sep 2012
Posts: 30
Re: Problems at Amlife EB5 Investor
There is an rfe for riverside.
Oct 9th 2013, 12:33 am
#186
Forum Regular
Joined: Sep 2012
Posts: 30
Re: Problems at Amlife EB5 Investor
Yes I am in riverside.
Oct 9th 2013, 4:49 pm
#189
Account Closed
Joined: Aug 2002
Location: Kentucky
Posts: 38,865
Re: Problems at Amlife EB5 Investor
Oct 14th 2013, 8:49 pm
#190
BE Enthusiast
Joined: Nov 2007
Posts: 906
Re: Problems at Amlife EB5 Investor
If your money has been used to pay constructions costs then there is no interest.
If your I526 is refused then as long as Amlife have acted professionally and honestly they have probably have no legal obligation to return your monies. USCIS have changed their interpretation of the law and this has negatively affected Amlife's business model. I'm sure Amlife are doing everything they can to get these I526s through.
Frustrating as this is, you entered into a high risk speculative investment. IMO be brave a stick with Amlife.
Last edited by cranston; Oct 14th 2013 at 8:52 pm.
Oct 15th 2013, 11:04 am
#191
Just Joined
Joined: Sep 2013
Posts: 15
Re: Problems at Amlife EB5 Investor
Hi Cranston,
Thanks a lot for your comment.
Like you said, I understand I invested in a high risk investment for a green card opportunity, and am extremely frustrating because I have not even filed for I-526. So I have some questions for you,
Were/are you an investor for EB-5?
Did you invest in an American Life project?
If so, how long did you wait to apply for I-526, and how long did it take for you to get a temp. green card?
If you recommend American Life, could you give me any reasons?
Thanks!
Thanks a lot for your comment.
If the Limited Partnership earned any interest income on your money you share will be passed on to you. This should show in the monthly statements they send you. Amlife does not keep the interest income from clients monies for itself.
If your money has been used to pay constructions costs then there is no interest.
If your I526 is refused then as long as Amlife have acted professionally and honestly they have probably have no legal obligation to return your monies. USCIS have changed their interpretation of the law and this has negatively affected Amlife's business model. I'm sure Amlife are doing everything they can to get these I526s through.
Frustrating as this is, you entered into a high risk speculative investment. IMO be brave a stick with Amlife.
If your money has been used to pay constructions costs then there is no interest.
If your I526 is refused then as long as Amlife have acted professionally and honestly they have probably have no legal obligation to return your monies. USCIS have changed their interpretation of the law and this has negatively affected Amlife's business model. I'm sure Amlife are doing everything they can to get these I526s through.
Frustrating as this is, you entered into a high risk speculative investment. IMO be brave a stick with Amlife.
Were/are you an investor for EB-5?
Did you invest in an American Life project?
If so, how long did you wait to apply for I-526, and how long did it take for you to get a temp. green card?
If you recommend American Life, could you give me any reasons?
Thanks!
Oct 15th 2013, 3:28 pm
#192
Forum Regular
Joined: Sep 2012
Posts: 30
Re: Problems at Amlife EB5 Investor
If the Limited Partnership earned any interest income on your money you share will be passed on to you. This should show in the monthly statements they send you. Amlife does not keep the interest income from clients monies for itself.
If your money has been used to pay constructions costs then there is no interest.
If your I526 is refused then as long as Amlife have acted professionally and honestly they have probably have no legal obligation to return your monies. USCIS have changed their interpretation of the law and this has negatively affected Amlife's business model. I'm sure Amlife are doing everything they can to get these I526s through.
Frustrating as this is, you entered into a high risk speculative investment. IMO be brave a stick with Amlife.
If your money has been used to pay constructions costs then there is no interest.
If your I526 is refused then as long as Amlife have acted professionally and honestly they have probably have no legal obligation to return your monies. USCIS have changed their interpretation of the law and this has negatively affected Amlife's business model. I'm sure Amlife are doing everything they can to get these I526s through.
Frustrating as this is, you entered into a high risk speculative investment. IMO be brave a stick with Amlife.
Oct 15th 2013, 9:21 pm
#193
BE Enthusiast
Joined: Nov 2007
Posts: 906
Re: Problems at Amlife EB5 Investor
eb51R
Q. Were/are you an investor for EB-5?
A. Yes
Q.Did you invest in an American Life project?
A. Yes
Q. If so, how long did you wait to apply for I-526, and how long did it take for you to get a temp. green card?
A. Irrelevant.
Q.If you recommend American Life, could you give me any reasons?
A. Henry and the team know this industry inside out. They have a long successful track record. I carried out extensive background checks and these people are all honest professionals (unlike some EB5 operators). They answer all questions in full and quickly.
My project run into legal problems with USCIS and Amlife sorted it out of their own pocket. They will do all they can. They will use the best lawyers in the industry to fight USCIS (on the project). Your own I526 is down to your lawyer.
No guarantees but they will fight, I have seen them fight. But USCIS are just a bunch of ******s at the moment.
Q. Were/are you an investor for EB-5?
A. Yes
Q.Did you invest in an American Life project?
A. Yes
Q. If so, how long did you wait to apply for I-526, and how long did it take for you to get a temp. green card?
A. Irrelevant.
Q.If you recommend American Life, could you give me any reasons?
A. Henry and the team know this industry inside out. They have a long successful track record. I carried out extensive background checks and these people are all honest professionals (unlike some EB5 operators). They answer all questions in full and quickly.
My project run into legal problems with USCIS and Amlife sorted it out of their own pocket. They will do all they can. They will use the best lawyers in the industry to fight USCIS (on the project). Your own I526 is down to your lawyer.
No guarantees but they will fight, I have seen them fight. But USCIS are just a bunch of ******s at the moment.
Last edited by cranston; Oct 15th 2013 at 9:25 pm.
Oct 16th 2013, 4:42 am
#195
BE Enthusiast
Joined: Nov 2007
Posts: 906
Re: Problems at Amlife EB5 Investor
eb51R
I have not given any information on my I526 because it would not help you in any way. I526 processing is not an off the shelf product, it is highly individualized.
USCIS have changed their procedures and you are now under a different and much tougher regulatory process for getting EB5 RC projects accepted then I went through. Secondly, I526 time-tables vary depending on the quality of the application by your lawyers. Because of the extensive background searches done for the I526, timetables will also vary from person to person. Also, I have no knowledge if the current Govt shutdown is causing a go-slow at USCIS. And I526 volume has gone up too.
Therefore my I526 data is irrelevant.
LOL....I do recommend Amlife. When I was researching EB5 RC Amlife were the only company who had a reasonable plan, decent management, decent references, industry knowledge and experience, allowed me to speak to other investors and answered my questions fully and quickly. I checked out about 20 firms.
Can I ask you why you do not want to answer how long question?
USCIS have changed their procedures and you are now under a different and much tougher regulatory process for getting EB5 RC projects accepted then I went through. Secondly, I526 time-tables vary depending on the quality of the application by your lawyers. Because of the extensive background searches done for the I526, timetables will also vary from person to person. Also, I have no knowledge if the current Govt shutdown is causing a go-slow at USCIS. And I526 volume has gone up too.
Therefore my I526 data is irrelevant.
I saw other comments you had in the past and you highly recommended Amlife, so I kind of think you either work for Amlife or have friends who work for Amlife.
Last edited by cranston; Oct 16th 2013 at 4:55 am.