USCIS approves Zhang’s EB-5 visa petition, sets precedent for unsecured loans as capital
Updated: Sep 9
From the EB-5 Investors site
U.S. Citizenship and Immigration Services has approved an EB-5 case the agency had been fighting in court, a move that could be a positive sign for future applicants of the American EB-5 immigrant investor program.
In April, USCIS gave special approval for the I-526 petition of Huashan Zhang, a Chinese national whose case had been pending since December 2013, according to WR Immigration, a Santa Monica, Calif.-based law firm that represented Zhang.
In 2015, Zhang and Japanese national Masayuki Hagiwara challenged the USCIS’ interpretation of what qualified as capital under the current EB-5 policy. Their case argued that cash from an unsecured loan was an acceptable source of funds for an EB-5 investor, even if the loan later went into default.
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