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EB-5 Visa Helps Canadian Investors Thrive in Growing U.S. Economy

Irena Juras, top U.S. immigration lawyer, sees uptick in number of Canadians investing in the Southwest.

Phoenix, AZ (August 25, 2014) – Taking advantage of a burgeoning marketplace and a flourishing economy, especially in energy-rich states, many Canadian investors are choosing to take advantage of the EB-5 Visa program.

Foreigners with at least $500,000 capital wishing to pursue permanent residency in the United States may apply for an EB-5 Visa.  The program, created by Congress, is a way to create more jobs and stimulate the economy. This program requires that foreigners invest at least $500,000 and create 10 full time jobs for U.S. employees within two years. The standard investment for an EB-5 visa is $1,000,000 or $500,000 if the candidates invest in rural areas or targeted employment areas. When investing in commercial real estate, such as an apartment building, which doesn’t create at least 10 jobs, the investor has the option of obtaining an E-2 Visa.

“The affordable real estate market in the southwest combined with a lack of red tape to start a new corporation has really boosted the number of Canadians investing in the U.S.,” explained Irena Juras of the Juras Law Firm.

Demand among foreign investors is increasing, though there is a limit of 10,000 visas issued per year including spouses and dependents.  Of the 10,000 EB-5 visas which are available annually, 3,000 of the visas are reserved for investors of Regional Centers.   Regional Centers are economic units that promote job creation and investment in a specific region of the U.S.
About Juras Law Firm

Named a Top Immigration Lawyer by North Valley Magazine and Avvo, Irena Juras  is a highly respected attorney throughout the U.S. and overseas. As head of Juras Law Firm, an Immigration and Bankruptcy Law Firm in Phoenix, AZ, Irena is an immigrant herself from the Czech Republic, studying and practicing law in the Czech Republic before moving to the United States. Irena is currently licensed to practice law in both Arizona and New York. The firm has represented clients in international transactions, immigration matters and international bankruptcies from over 60 countries and 6 continents. Irena has 16 years combined experience in immigration law and representing debtors, creditors and trustees in bankruptcy proceedings.

 

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What is Chapter 11 Bankruptcy in Arizona?

Each year 8 out of every 10 new businesses in the United States fail.  Over time, that number grows to 9 of 10 businesses. When a corporation or limited liability company is unable to service its debt or pay its creditors, the company has many choices, among them to file Chapter 7 or Chapter 11 bankruptcy.  In Chapter 7, the business ceases its operations altogether, a trustee sells all assets and distributes proceeds to its creditors. Chapter 11 provides tools to restructure debts and save viable businesses and jobs.

 

You’d be surprised how many well-known companies filed Chapter 11 bankruptcy and not only survived, but thrived after the process — companies like American Airlines in 2011, GM in 2009, Bill Heard Chevrolet, the largest Chevy dealer in 2008, Delta & Northwest in 2005, US Airways in 2004, United & US Airways in 2002 and thousands more.

 

How Chapter 11 works

The first step for the company is to hire a bankruptcy attorney, preferably an attorney with years of experience representing debtors in Chapter 11 bankruptcies. The Chapter 11 reorganization is very complicated process, which is why an experienced attorney is so critical in making the process a success.

 

The bankruptcy attorney will assist the company to file a Chapter 11 bankruptcy petition with the bankruptcy court.  The next step is for the company to create a reorganization (or liquidation) plan.  Unless, the debtor proposes liquidation, it should be a viable plan to keep the company operating on a long-term basis.  The plan can propose to sell some assets, reject leases and close stores, restructure debts, reduce some debts, extend debt maturity and interest rates, modify rights of some secured creditors etc.   All creditors are placed into classes and they vote on the plan.   In order for the bankruptcy court to confirm the plan, at least one class of creditors whose claims are impaired has to vote for the plan and the plan has to be fair and equitable and has to not discriminate unfairly.   If the plan is confirmed, the restructured debts became the obligations of the restructured company.

 

A company has to be represented by an attorney in Chapter 11.   If your company is facing financial difficulties, call experienced Chapter 11 attorney Irena Juras at 480-425-2009 to find out what tools Chapter 11 provides for your company or contact us via our website today!

 

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Top Phoenix Immigration and Bankruptcy Law Firm Celebrates Ten Years in Business

Representing clients from over sixty countries, Juras Law Firm reaches ten year milestone in Arizona.

Irena Juras, founder of Juras Law Firm, PLC, has recently celebrated ten years in business. In 1994, Juras Law Firm was founded in Scottsdale, Arizona centering the practice on immigration and bankruptcy law and more recently moved its main location to the Biltmore area in Phoenix.

Representing clients from Arizona, U.S. and over 60 countries including Czech Republic, Mexico and Canada, the firm’s practice is focused on individual investors seeking E-2 investor visas and EB-5 investor green cards, companies needing visas and green cards for their workers and companies seeking Chapter 11 bankruptcy protection.

“As an immigrant, I have unique insight into the complex U.S. immigration process from the immigrants’ perspective and understand first-hand the issues faced,” said Irena Juras, founding member of Juras Law Firm. “My 15 years of experience practicing bankruptcy law has allowed me to thoroughly understand how to properly represent debtors, creditors, trustees and other parties in bankruptcy proceedings both domestic and international.”

Irena Juras also serves as a legal expert in many industry sectors including real estate, investment, transportation, healthcare, service and retail industries and is also of counsel to Munger Chadwick PLC. With cross-cultural background and experience in both civil and common law, the firm has represented foreign clients in cross-border transactions, immigration matters and international bankruptcies.
About Juras Law Firm

Named a Top Immigration Lawyer by North Valley Magazine and Avvo, Irena Juras  is a highly respected attorney throughout the U.S. and overseas. As head of Juras Law Firm, an Immigration and Bankruptcy Law Firm in Phoenix, AZ, Irena is an immigrant herself from the Czech Republic, studying and practicing law in the Czech Republic before moving to the United States and is currently licensed to practice law in both Arizona and New York. The firm has represented clients from over 60 countries and 6 continents in international transactions, immigration matters and international bankruptcies. Irena has 16 years combined experience in immigration law and representing debtors, creditors and trustees in bankruptcy proceedings.

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Media contact:

Christine Holtz

Phoenix Marketing Associates

602-282-0202

 

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USCIS Processing Times for EB-5 Investor Visas (Green Cards) Released

The U.S. Citizenship and Immigration Services released an updated processing report for EB-5 investor visa applications.  EB-5 investor visas are permanent visas (green cards) for investors who invest $1 million (or $500,000 in targeted employment areas) and create 10 jobs.  The average processing time for an EB-5 investor visa application is now 13.2 months.  Once the application is approved, the investor receives a conditional permanent resident status for two years.  Then, within 90 days before the second anniversary of obtaining the conditional permanent resident status, the investor has to file a petition to remove conditions on his or her residence.  The average processing time to remove conditions on residence is 7.9 months.  The investors who do not want to be actively involved in directing their investment, can invest through one of the approved regional centers.  The processing time for an application to designate a regional center is 5.4 months.  If you would like to discuss the best way to obtain EB-5 investor visa (green card), CALL us TODAY at 480-425-2009 or contact us via our website, and experienced EB-5 investor visa attorney will help you!

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Bankruptcy Filing Fee Increases Effective June 1, 2014:

Administrative fees increase as follows:

  • For the filling of a new petition under Chapters 7, 12 or 13, $75.00
  • For the filing of a new petition under Chapters 9, 11 or 15, $550.00

Fees for filing a new bankruptcy petition will increase as follows:
• Chapter 7 filing fee increases to $335.00
• Chapter 9 filing fee increases to $1,717.00
• Chapter 11 filing fee increases to $1,717.00
• Chapter 12 filing fee increases to $275.00
• Chapter 13 filing fee increases to $310.00
• Chapter 15 filing fee increases to $1,717.00

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It’s time to prepare H-1B visa petitions for fiscal year 2015

The U.S. Citizenship and Immigration Services will start accepting H-1B visa applications on April 1, 2014 for Fiscal Year 2015. H-1B visas are for foreign workers in specialty occupations with at least a bachelor’s degree or its equivalent.  Fiscal year 2015 starts on October 1, 2014. There is a numerical cap on H-1B visa, which for FY 2015 is 65,000 plus additional 20,000 for individuals who earned Master’s degree or higher from U.S. accredited educational institutions.   The cap will be filled very quickly, so it’s very important to start preparing the applications early.  Before the H-1B visa application can be submitted on April 1, certification of a labor condition application by the Department of Labor is required.  The Department of Labor may take up to seven business days to certify the labor condition application.   Therefore, it’s important to make decisions about hiring foreign workers quickly and start preparing the applications as soon as possible, so complete application can be submitted on April 1. If you want to make sure the H-1B visa application is prepared correctly, please call 480-425-2009 or contact us at www.juraslaw.com/contact-us today!

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Will you lose your home if you file bankruptcy?

Lots of people considering filing for bankruptcy fear that they may lose their home.
First of all, there are several types of bankruptcies (for individuals – Chapter 7, chapter
11 and chapter 13). The answer to the above question may be different depending on which
bankruptcy you file. If you file Chapter 7, you are current on your mortgage and there is
no equity in your home (or equity up to certain exempt limit, which is different in each
state, e.g., $150,000.00 in Arizona), you should be able to keep your home. If you are
behind on your mortgage payments, Chapter 13 bankruptcy may be better option for you.
Chapter 13 gives you a tool to cure the arrearage over time and thus, allows you to save and
keep your home. Chapter 11 is similar to Chapter 13, but it is more expensive type of
bankruptcy, mainly for people whose debts exceed the Chapter 13 debt limits. In summary,
the filing of the bankruptcy does not necessary mean losing your home. To the contrary,
certain types of bankruptcy may give you another tool to protect and keep your home. Since
your home is important to you and your family, our recommendation is to consult with an
experienced bankruptcy attorney how to protect your home. Contact us to schedule a free
bankruptcy consultation.

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What is the difference between E-2 visa and EB-5 visa?

While E-2 visa are temporary visa always issued for a limited period of time (several
years), EB-5 visa are permanent visa. E-2 visa are based on treaty between the U.S. and the
country of investor’s citizenship. If there is no treaty between the U.S. and the country
of investor’s citizenship, the investor cannot get E-2 visa. EB-5 visa are not limited to
only investors from some countries. The investment amount for EB-5 visa is $1 million or
$500,000 in a Targeted Employment Area. There is no dollar limit for E-2 visa, but the
investment amount has to be “substantial”. In order to qualify for EB-5 visa, an investor
has to create 10 full time jobs for U.S. workers. E-2 investor has to create at least one
job for U.S. worker. For more information about E-2 and EB-5 visa, please visit
https://www.juraslaw.com/Immigration/Investor-Visa.shtml or call our office to talk with an
experienced Investor Visa Attorney at 480-425-2009.