Chinese Investor's $1M Not 'At Risk' Under EB-5 Rules: Judge
Law360 (April 22, 2019, 2:45 PM EDT) -- A D.C. federal court has upheld immigration officials' decision to deny a Chinese investor's EB-5 visa petition, which gives foreign investors a path to U.S. permanent residency, finding that his $1 million investment in a Florida restaurant was not "at risk" as required by the immigrant investor program.
In a Friday decision granting summary judgment to the government, U.S. District Judge Timothy J. Kelly agreed with U.S. Citizenship and Immigration Services that a provision in Chinese citizen Tingzi Wang's investment agreement, which allowed him to sell back his shares to the corporation in certain circumstances at "book value," meant his investment...
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