From my archive of press clippings:
Houston Chronicle
Investor visas for Mexicans shortened
Change to only one year comes as a big surprise
By DAVID HENDRICKS
SAN ANTONIO EXPRESS-NEWS
April 8, 2010, 9:41PM
See a list of U.S. visas' validity terms for Mexicans: www.travel.state.gov/visa
The State Department has quietly changed its policy on many of its visas for Mexicans, reducing the amount of time those visas are valid from the three to five years that had been common to one year.
Read the whole article here.
Snippet(s):
"The changes would apply mostly to visas for Mexicans who own, or want to own, businesses and houses here and who do not intend to immigrate."
"Mexicans in the United States on E-1 and E-2 visas, which require putting their investment money at risk in U.S. businesses, will have to prove each year that their businesses are viable, said immigration lawyer John Meyer, partner in the Houston-based FosterQuan firm that operates a San Antonio office.
The change applies both to Mexicans seeking to come to the U.S. and to Mexicans already in the U.S. and seeking visa renewals."
&
"The State Department said the policy was changed to conform to the reciprocity agreement it has with Mexico. For years, Mexico's work visas for U.S. citizens were good for one year.
When Mexico recently decided to raise its visa fees for U.S. citizens, the U.S. State Department decided to remove the multi-year option from the visas it gives to Mexicans, a spokesman said."
dhendricks@express-news.net
Wednesday, April 14, 2010
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2 comments:
Probably also a fraud detection issue as most of those businesses most likely do not meet the standards for investment and income. Most only support the visa holders and are not true investments. Most holders are most likely active owner/managers, not investors. You see lots of E visa holders from Japan with minscule businesses in Honolulu, tiny tourist stores and travel agencies operated out of home with no or one employee.
It's all about the reciprocity, but the issues you raise about fraud in this visa class are problematic. The idea for the "E" investor visas is that their business investment will create jobs for Americans, not just provide services.
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