How to get a green card

How to Get a Green Card

A green card, formally known as United States Permanent Resident Card. It’s name was popularized in World War II when Form I-151 or the Alien Registration Receipt Card was printed on green paper. In 1977, the form was printed on papers of various colors but nonetheless, the name green card remained. As of 2006, the green card is mostly yellowish-white where the only green feature is the lettering at the back portion.

There are several ways on how to get a green card. Most of the categories have an annual quota or limit. The overall limit per year is 700,000. But there is no limit for immediate relatives which compose of spouses and minor children of US citizens and parents of adult US citizens.

Matrimonial Method

This is one of the easy step in getting a green card. This means that an individual, male or female, marries a permanent citizen of the United States of America. After marriage, there will be some necessary paperwork with some appeals and hearings. An applicant will have to fill out the Form I-130.

Immediate Relatives

This method is processed through a petition of a close relative who could either be a spouse, child over 21, parent, brother or sister who is a citizen of the United States or a spouse or parent who is a US permanent resident. Many of these applications are severely backlogged and is dependent on the type of relative and nationality of the applicant. A petition for a brother or sister can last up to ten years of waiting, depending on their nationality.

Diversity Lottery

The purpose of this method is to increase immigration of countries with low representation over the past decades. There are 50,000 slots alloted for it and the “lottery winners” are randomly selected from the computers. It is important to understand that being selected in the lottery does not guarantee a green card. The requirements are strict and applicants should meet the educational or professional requirements.

Employer Sponsorship

The employer petitions a highly skilled worker such as an outstanding professor, a multinational executive or manager, a professional holding an advanced degree or a person with exceptional ability.

Immigrant Investor Visa

Wealthy foreigners who can invest at least $1 million in a commercial enterprise and employ 10 workers directly, or at least $500,000 who will invest in a “targeted employment area” and can employ 10 workers directly or indirectly.

The U.S. Immigration system is a huge bureaucracy. It is only vital that people who would like to acquire a green card should fully understand the requirements before making any application. Any mistake committed may ruin the chances of getting one.

How does government protect you from identity theft

How Does Government Protect You From Identity Theft?

The Federal Trade Commission (FTC) and the federal financial institution regulatory agencies have sent to the Federal Register for publication final rules on identity theft «red flags» and address discrepancies. The final rules implement sections 114 and 315 of the Fair and Accurate Credit Transactions Act of 2003.

According to a report of the President’s Identity Theft Task Force, identity theft (a fraud attempted or committed using identifying information of another person without authority), results in billions of dollars in losses each year to individuals and businesses.

The final rules require each financial institution and creditor that holds any consumer account, or other account for which there is a reasonably foreseeable risk of identity theft, to develop and implement an Identity Theft Prevention Program for combating identity theft in connection with new and existing accounts. The Program must include reasonable policies and procedures for detecting, preventing, and mitigating identity theft and enable a financial institution or creditor to:

Identify relevant patterns, practices, and specific forms of activity that are «red flags» signaling possible identity theft and incorporate those red flags into the Program;

Detect red flags that have been incorporated into the Program;

Respond appropriately to any red flags that are detected to prevent and mitigate identity theft; and

Ensure the Program is updated periodically to reflect changes in risks from identity theft.

The agencies also issued guidelines to assist financial institutions and creditors in developing and implementing a Program, including a supplement that provides examples of red flags.

The final rules also require credit and debit card issuers to develop policies and procedures to assess the validity of a request for a change of address that is followed closely by a request for an additional or replacement card. In addition, the final rules require users of consumer reports to develop reasonable policies and procedures to apply when they receive a notice of address discrepancy from a consumer reporting agency.

The final rule-making is issued by the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Federal Trade Commission, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision. The final rules are effective on January 1, 2008. Covered financial institutions and creditors must comply with the rules by November 1, 2008.

The government is doing its best to combat identity theft. Keeping one step ahead of the thieves by checking your free credit report will ensure that no one has stolen your identity. The government is doing what it can, but you are the first line of identity theft defense.

Letter of credit basics

Letter of Credit Basics

Are you doing business overseas and your supplier has asked you for a letter of credit? Do you own a distributor, wholesaler or re-seller and have a large purchase order where you need a letter of credit to pay your suppliers?

As the number of national and international transactions grows, so does the number of suppliers that are asking to be paid with a letter of credit. A letter of credit is a financial instrument that serves two purposes. It ensures that your suppliers get paid (that’s why they ask for them). It also ensures that you get the goods you bargained for — otherwise the suppliers will not get paid. It protects both of you.

Letters of credit come in many flavors. The most common are:

Revocable Letter of Credit: A revocable letter of credit allows the issuer to modify it, amend it or even cancel it. Since a RLC can be modified, most suppliers don’t like it because it increases their risk.

Irrevocable Letter of Credit: An irrevocable letter of credit does not allow for amendments, modifications or cancellation unless there is agreement by the parties. Since it is a form of guaranteed payment, many suppliers prefer this type of payment option.

Standby Letter of Credit: A standby letter of credit is a payment guarantee — rather than a payment mechanism. Under the terms of the agreement, the supplier can draw on the letter of credit if the client does not pay.

Transferable Letter of Credit : A transferable letter of credit can be revocable or irrevocable. This type of LOC allows the recipient to transfer part or all of the benefits to another party.

Qualifying for a letter of credit is not always easy. It requires one of two things. First, the business owner can deposit the actual amount of cash needed for the transaction with the bank or financial institution that issues the letter. This, of course, is very expensive. A second option is to have a bank give you a line of credit, and issue the letter of credit using the line of credit as collateral. Although this is the most common method of financing a LOC, it is also the hardest because your business must qualify for bank financing.

There is another trade finance option though. It is called purchase order financing. Purchase order financing is ideal for companies that have exhausted their bank resources. The purchase order funding company provides you with the necessary letters of credit to pay your suppliers using your purchase order as collateral. The transaction is settled once your client pays. Purchase order funding is the ideal tool to grow your business to the next level.

How uk businesses can beat the recession by capitalising on the growth of chinese tourism

How UK Businesses Can Beat the Recession by Capitalising on the Growth of Chinese Tourism

With Chinese New Year celebrations in full swing, the Chinese Premier Wen Jiabao visiting London and the unprecedented growth in Chinese inbound tourism to the UK, you would mistakenly believe that the UK is well practiced in welcoming Chinese visitors. Yet many hotels, retailers and tourist venues are unfortunately ill-equipped to serve what will become the most important UK inbound tourist demographic.

China’s tremendous economic growth is generating the largest new tourist market which will require tourism sector providers the world over to adapt their services, products, food and language to suit outbound Chinese travellers who will growth from 40 million in 2007 to 100 million by 2020 (The World Tourism Organisation).

The UK is already benefiting from the rise in number of Chinese tourists. Visit London, predicts inbound tourism from China will rise by approximately 425% by 2012. Coupled with the recent relaxing of visa restrictions, a strengthening Chinese yuan, and Visit Britain’s strong marketing campaign in China, the UK is in a particularly strong position to benefit from China’s outbound tourism.

However Yaxley Consulting, which assists UK tourist destinations, hoteliers and retailers in adapting their services to suit Chinese tourists, found in a recent market assessment that many UK providers are still relatively ill prepared for the growth in Chinese visitors.

Speaking recently to members of the Historic Homes Association, Managing Director Jocelyn McConnachie said, “a limited number of Chinese speak English. Tourist venues should be making small adjustments such as providing short Chinese brochures, or a few pages translated into Chinese on the organisation’s website to help Chinese visitors make the most of their trip. Far more than other nationalities, Chinese tourists take time to research their holidays online, yet few UK tourist designations have Chinese translated pages. Those venues that do have translated pages are experiencing strong new growth and gaining ground against their competitors, which is critical in this difficult economic climate.”

She also added that more retailers and hoteliers should be looking to Chinese tourists as part of their business survival plans during 2009. “Chinese tourists will spend up to 80% of their travel monies on shopping. They appreciate value-for-money and simple online marketing activity which includes dual language special offer vouchers can encourage shoppers and allow retailers to measure results. Hotels can exceed Chinese guests’ expectations with small, cost effective adjustments to their existing services.”

McConnachie is adamant that staff should be trained to anticipate Chinese travellers’ needs and speak a few simple phrases. “The business will see a return on its training investment not just from the visitor’s experience but also word of mouth advertising. Chinese tourists rely on recommendation more than many other travellers.”

Yaxley Consulting www.yaxleyconsulting.co.uk consults to leading industry bodies on trends in outbound Chinese tourism and works with businesses in targeting Chinese tourists. Its sister website www.ukwang.com (launching mid 2009) will be a key source of information for Chinese visitors to the UK. Both are part of the Yaxley Group www.yaxley.com.