Hardships Facing Asylum Seekers at the U.S. Border

With the current situation at the Southern border hurting the prospect of asylum requests, and other immigration options taking up to ten years to process, a foreigner who feels persecuted or whose current living situation could be greatly enhanced if they had access to the resources the United States has to offer, can become extremely frustrated and discouraged. However, a lesser-known option, known as the EB-5 program, offers individuals the chance to bypass all the rigmarole and earn lawful permanent residency within two to three years. The EB-5 Program (or Employment-Based fifth preference) was set up in 1990 to allow foreign nationals to become lawful permanent residents by investing capital in qualifying commercial enterprises and stimulate the economy. Investments made through the program must be a minimum of $1,000,000 unless invested through a regional center — entities managed by third-parties centered in and around targeted employment areas (TEA), including impoverished communities and rural areas with high unemployment — at which point, the minimum investment is lowered to $500,000. In order to be approved, an investor must show they are using at-risk funds based on current capital and assets (no loans or illegitimate funds) and prove they will be able to create full-time jobs for at least ten U.S. citizens within two years. There are other regulations currently in place, the biggest of which is the requirement that investors engage in day-to-day management of the businesses (with the exception of passive investors who have invested in regional centers). Currently, there are 10,000 visas available per year and each country is only allowed up to 7% of those visas. Provisions allow family members to be counted as part of this 10,000 limit. As of February 15, 2019, President Trump has officially signed a bill to fund the program through the end of September with no alterations, but due to concerns that the program is riddled with fraud, officials are calling for major reforms that include: Raising the minimum investment from $500,000 to $1.35 million, and $1,000,000 to $1.8 million to account for inflation; No longer counting family members as part of the 10,000 Visa cap and removing the per-country cap; Termination of Regional Centers that fail to promote economic growth; Fixing loopholes in the regional centers that allow funds to be funneled into richer areas; Eliminating passive investments (all investors would be required to manage their businesses on a day-to-day basis). To be considered for the EB-5 program, you must first file Form I-526 — Immigrant Petition by Alien Entrepreneur with the U.S. Citizenship and Immigration Services (USCIS). Because the application process is extremely arduous and paper heavy, it is best to hire a good immigration attorney to put together petition paperwork, prepare for the investor interview, establish lawful permanent residency, and keep the investor appraised of any changes that may occur as legislation continues to update regulations and make changes to the program. Visit the USCIS website for additional information.

Many of the millions of undocumented immigrants currently living in the United States are hardworking individuals who simply want to provide a better life for their families. Despite this, they struggle with the daily threat of deportation, a burden made heavier by the fear of possible separation from family members, including children, who are U.S. citizens. Though it’s scary to think about what one will do to survive if returned to their home country, one of the biggest concerns of deportation is not knowing whether the family you’re forced to leave behind will be taken care of financially. That’s why it’s always better to have some type of estate planning measures in place. The following are just a couple of options available if you are one of the millions struggling with this fear: Power of Attorney The simplest estate planning option is to grant a U.S. citizen power of attorney. Much the same way a living will might work, the grantor can include what should be done with particular assets, healthcare matters, and who may be designated as the guardian of their children. Self-Settled Trusts Setting up a self-settled trust (sometimes called a “deportation trust”) is a bit more complex. This type of trust works in a similar way to an asset protection trust, wherein the grantor and the beneficiary are the same person. The trust allows the grantor the ability to add guardianship details, stipulate the payment of debts and what should happen to assets not listed in the trust, and can be setup so that the beneficiary can receive discretionary payments approved by the trustee as long as the grantor is living in the United States. This type of trust protects real estate, bank accounts, businesses and personal property, making it difficult, if not impossible, for authorities to freeze or confiscate these assets should the grantor suddenly be forced to leave the U.S. There are three major hurdles one must consider before creating a self-settled trust: The grantor must first apply for an International Taxpayer Identification Number (ITIN) with the IRS. This allows the undocumented citizen to open a bank account needed to setup the trust. Only a handful of states currently allow self-settled trusts. California and Arizona do not recognize self-settled trusts, though California doesn’t necessarily prohibit them either. It’s just much harder to receive the benefits that the trust may allow. Advanced planning is critical. Most states apply a protection statute of limitation on the trust, requiring a set time a trust must be in place before benefits will go into full effect. Do not wait to set up the trust when deportation is imminent, otherwise, there may not be enough time to settle all affairs. For more information on these, or other estate planning options that may be available to you as an undocumented immigrant, or how taxation matters might affect you, contact a qualified immigration attorney.