|
|
December 5th, 2011 |
Over the past few years several thousand families have relocated to the USA using the EB-5 immigrant investor visa. One advantage of this particular visa program is that it has, to date, always had places available and allows the entire family to get permanent residence (the applicant, spouse and unmarried children under 21).
The EB5 Visa (regional center program) requires you to invest $500,000 in what is termed a regional center program. The United States Citizenship and Immigration Service (USCIS) have authorized over 200 of these programs.
The type of investment programs vary greatly as does the time period for investment, the current minimum period being four years. As there are so many programs on offer it is not surprising many potential applicants seek independent advice before determining which regional center best matches their requirements. After all, if you make the right choice you stand to get permanent residency status and the return of your $500,000 capital in a reasonable timeframe. However, if you make the wrong choice, you and your family can face potential deportation and the loss of some or even all of your $500,000.
Finding the best independent EB5 advice will not always be as easy as you might expect given that some companies claiming to offer advice that is independent or impartial can be compromised by their close ties to a particular regional center. As an example, some companies undertake seminar programs in various parts of the world in partnership with specific regional centers. They may benefit from sales to the center either in receiving a marketing fee or commission for the number of sales made. In such circumstances you may need to question the impartiality of the advice given, are they likely to point out the weaknesses of a regional center they are closely working with? Are they likely to point out the advantages of other regional center programs that may actually offer you a better option?
Such arrangements can lead to concerns over a potential conflict of interest and the question; are you and your family receiving truly independent advice?
Sometimes a company claiming to be giving independent advice may be actually recommending one particular regional center; indeed it may be the one their founders used when they immigrated to the USA.
Again, in such a situation you are not obtaining the widest possible explanation of the alternatives, including the important positive and negative aspects. Instead you may be receiving a one-dimensional sales pitch to invest in that one regional center.
If you are wondering by now how you can discover the impartiality or otherwise of any consulting company you may use when looking at “What is the best way to choose an EB5 regional center” here are a few pointers as to questions you can ask?
- Since the consultancy company was formed how many of their clients have obtained EB5 visas?
- How many of those clients have obtained I-829 approval? (This is an important stage of the EB-5 process, when conditions are removed from the visa after two years).
- How many different Regional Center programs have their clients chosen? Is it just one or two or is there a much wider range of regional centers the consultancy has clients in?
- Have the consultancy partnered up with a particular regional center on joint sales and marketing trips to various countries?
- Does the company website or correspondence contain content indicating a partnership with one or more regional centers? Do phrases appear such as “I will send you a free information pack all about the Regional Center that we most like to work with”. This has specific implications that the consultancy may be working closely with one particular regional center of their choice rather than providing broader based information on the EB5 program.
- Does the company website contain photos of staff working jointly with a particular regional center at overseas seminars and exhibitions? Again this may raise cause for concern about a potential conflict of interest.
- Have the companies’ staff actually carried out research visits to a significant number of regional center projects? If so the visits need to be in-depth over several days looking into the background of programs.
- Does the company charge you a fee to give you advice? It is not necessary for you to pay a fee.
Immigrating to the USA with your family is a big decision and it absolutely imperative that you receive the best independent and impartial advice available. It is particularly important that you are not fooled into thinking you are receiving independent advice when the consultancy you are considering working with is working on behalf of only one regional center.
Independent EB-5 Visa advice and information is available from Which EB5 – Simply request EB5 information here
|
| |
Tags: conflict of interest, EB-5 Visa, eb5, EB5 visa, I-829, independent advice, independent eb5 advice, regional center, USA, uscis, What is the best way to choose an EB5 regional center
Posted in Immigration | No Comments » |
July 8th, 2011 |
 Choosing the most appropriate Consultant to guide you through the maze of options is one of the first issues you may need to consider when considering the positive and negatives of the many available EB5 Regional Center programs. This is a subject that has been covered previously; however it justifies updating following a number of questions received by readers of this blog.
In the book on the EB-5 visa, Green Card via the Red Carpet, the authors cover this issue in some detail and make a number of useful points based on their experience of the EB-5 process.
One particular concern stressed in the book is the need for complete independence when identifying the most appropriate regional center programs. It is imperative that the information on the Regional Centers given to potential applicant is based purely on the facts.
A few Consultants may face potential problems due to possible conflicts of interest. As an example, if a Consultant also provides a service to Regional Centers such as offering paid guidance on how to market their product, how to attract EB-5 investors and the same Consultants are also advising EB5 applicants which regional center to consider, there could be the potential for a conflict of interest.
There is also the question to consider on the link between Consultants and Agents particularly where an EB-5 applicant may be working with one or the other outside the USA; an agent working for a specific regional center may not point out all the weaknesses of that particular center.
One way to gain a perspective of the Consultants work is to review their website. Does the site only deal with information from the consumer perspective i.e. is it aimed only at the EB-5 applicant or does it also provide a range of services to Regional Centers? These services to Regional Centers may include guidance to companies that wish to become Regional Centers as well as marketing and sales services to existing Regional Centers.
For more details on EB-5 consultants, their services, background and reputations contact Which EB5 for a free consultation.
|
| |
Tags: agents, conflict of interest, consultants, eb-5, eb5, regional center, USA
Posted in Immigration | No Comments » |
October 27th, 2009 |
How to Choose an EB-5 consultant
Choosing a consultant to guide you through the different EB5 regional centers programs can be an important first stage for potential EB-5 immigrant investors. Key points you need to consider include:
• Are the consultants truly independent, or are they associated with a particular regional center, acting more as an agent of that center rather than providing impartial and independent advice?
• Do they charge you a fee?
• Have the Consultants actually visited the proven centers? By visiting we mean an in-depth look and review of the center, not just attending a conducted tour and arranging a photo opportunity.
• Are the Consultants doubling up as the Immigration Attorneys who are advising you?
If so there may be a conflict of interest and an ethical dimension which has been the subject of much discussion at the recent (American Immigration Lawyers Association) AILA conference in California. At this Conference leading specialist EB-5 immigration Attorneys advised that while Attorneys working with clients on the EB5 visa should obviously provide advice on immigration law, they should not necessarily be giving advice on the relative positive and negative aspects of the regional center programs.
• How many actual EB-5 immigrants have they advised, what is their success and failure rate?
• Which centers have they recommended? One or several?
• What is the range of information they provide?
It is all very well knowing who the directors of the regional centers are , what the track record of the regional centers is, and how many EB-5 visa applicants they have attracted, but all these facts miss far more important points that are critical in the current economic times.
• What is the difference between equity and loan based programs?
• What is their knowledge on economic and job creation methodology?
• Do they have links to the leading independent EB-5 immigration attorneys, economists, international chartered accountants and business attorneys?
Please feel free to email your questions or concerns on selecting an EB-5 consultant to: info@whicheeb5.com
|
| |
Tags: agent, AILA, American Immigration Lawyers Association, applicants, conflict of interest, consultant, eb-5, eb5, ethical, fee, immigrant investor, immigration attorney, immigration law, impartial, independent, job creation methodology, questions, regional center, visa, Which EB-5
Posted in Immigration | No Comments » |
April 8th, 2009 |
Over the last week I have been traveling America continuing my quest to meet with representatives and/or attorneys representing regional centers. I am digesting the content of my notes from this trip and will be looking for points that affect our client’s choice of EB-5 Regional Center. We will feature many of these observations here on our Which EB-5 blog in the coming weeks.
Some of my early observations still come back to the same important questions:
1. How safe is the job creation methodology, will my Green Card become permanent?
2. What is the exit strategy – How will I get my investment back and when?
3. What are the implications of a regional center requiring the client to use a designated attorney and does that create a conflict of interest?
4. How do relatively new regional centers compare to those with a track record?
5. Does the geographic location of a regional center have an impact on the client’s choice of where to invest? Should it?
6. With so many new EB-5 regional center choices becoming available, what is the best way for a potential immigrant investor to choose where to invest, who to trust?
As we progress through 2009 our clients around the world will undoubtedly be bombarded with creative advertising offering all sorts of exotic camera shots of fantastic looking destinations all in an effort to promote any one particular regional center. Don’t let that glamour cloud your judgment. Forget the sales spiel; focus on the cold hard facts, some of which may be a little cloudy!
Despite what you might be told by employees or representatives of regional centers I have one sage piece of advice: Don’t be hasty! Even if you are told that spaces are limited, or time is running out (both of these statements may be perfectly true). Make sure you are entirely happy with your decision before you sign agreements or part with your funds. A very wise and wealthy friend once said to me “If it’s a good deal today, it will be a good deal tomorrow”.
Keep watching this space for updates. Contact me directly for a chat or with questions if you want help with your EB-5 visa choices.
Stephen Parnell
|
| |
Tags: America, conflict of interest, designated attorney, eb-5, green card, immigrant investor, job creation, regional centers, stephen parnell, where to invest, Which EB-5
Posted in Immigration | No Comments » |
|
|
|
|
|
|
|
