There is a well-known saying; “Imitation is the sincerest form of flattery” Which basically means that if people copy you they are paying you a compliment. Unfortunately, this may not always be true, as has become clear in the business of providing advice to would-be EB-5 visa applicants.
Some time ago we published a book on the EB-5visa titled “Green Card via the Red Carpet” and we have since written a series of articles and blogs covering consumer implications behind the EB-5 visa process.
We have noticed over the years that some of the content of our book and articles have been copied by various other companies to advertise their service or product. Just recently, a new entrant into the EB-5 advice business has published an article stating that EB-5 applicants should only seek advice from “experienced” EB-5 consultants; we would like to thank them for that endorsement as they are obviously referring to Which EB5.
As we do not recommend any specific regional center, but instead seek to independently educate potential EB-5 applicants on the positives and negatives of different options, we are concerned that other companies are misleading potential applicants by using our work out of context.
If you are looking into the EB-5 Regional Center visa program, you can meet with us either at one of our discovery day seminars, face to face at a private meeting, on the phone or Skype, you can ask any questions and get information about the program and the points that are all too often not explained.
To arrange a meeting please contact us via email at info@WhichEB5.com
If you are trying to learn as much as you can about the EB-5immigrant investorvisa it is important that you identify information that is completely impartial and independent. After all you may end up investing at least $500,000 for several years and trusting the immigration status of your family to your choice of a Regional Center program.
Unfortunately so much of the information you come across has a sales agenda, in other words you are being persuaded to invest in a particular Regional Center or use a particular Attorney. Sometimes the sales effort means too little attention is paid to the safety of your family’s immigration status and the safety of your $500,000 investment.
Before writing the only consumer book on the EB-5 Visa a great deal of research was carried out on the people and companies behind EB-5 Regional Center programs, EB-5 consultants and Attorneys.
This research identified a number of Consultants and Attorneys offering to provide advice on the EB-5 were also being paid by some Regional Centers to promote their programs and obtain clients to invest $500,000 per place.
It is important that the advice you receive on the EB-5 visa is beyond reproach and those giving the advice have not been disciplined by Federal and State Agencies, some currently offering advice have had action taken against them.
For further information on the EB-5 visa at no charge contact Chase Brodsky at Which EB5 for further details.
WhichEB5 have the following advantages that have made them the preferred choice with over 250 successful applicants from all over the world:
Which EB5, unlike some other Consultants, do not charge you any fees for their services.
Which EB5 have access to information from a number of regional centers, they do not work with only one or two programs.
Which EB5 only work with individual clients, they do not advise, provide services or market regional centers for a fee. More and more Attorneys and Consultants are setting up or working with specific Regional Centers leading to potential conflicts of interest.
Which EB5’s Managing Partners are themselves immigrants who have lived in The USA for twenty and eleven years each. They understand the issues and difficulties that are of concern to potential and new immigrants.
Unlike many Attorneys and consultants WhichEB5 regularly visit different Regional Centers to determine the truth behind the sales claims. So many other companies do not visit the Regional Centers they are recommending or indeed advising against.
Which EB5 have access to experienced attorneys, securities advisors, accountants and tax experts who themselves have many years of experience working with the EB-5 visa.
If you are considering the EB-5 visa as your best method to gain permanent residence in the USA you may need to act in the next three/four months to make certain of obtaining the visa.
Currently applications are taking approximately six months for your initial petition to be processed by USCIS and a further three to four months for either an adjustment of status or consular processing. If you want to be sure you have enough time to go through the process with a margin of safety you probably need to apply before the end of December 2011.
The program has faced closure before but Congress has granted typically last minute extensions. However, this time closure is due in the period of a run up to The Presidential election, this adds some uncertainty to the process.
There has been lots of talk that premium processing would be introduced for the EB-5 visa program which could reduce the processing time down from the current six months to a few weeks. While this is currently under continued discussion it could take many months to implement. Meaning it MAY NOT be available until late into 2012. This would leave many applicants exposed to perhaps not getting their petition adjudicated prior to the expiry of the program.
It is very important for you to carry out full due diligence before committing to a particular Regional Center program. A number of Regional Centers have received Requests for further Evidence (RFE), some have had refusals at the initial (I-526) stage and others, more alarmingly, have had refusals at the removal of conditions (I-829) stage.
If you would like to discuss the implications of this program, or would like impartial information about the various Regional Center programs, our network of consultants and attorney’s can provide a free in-depth personal consultation to you. We currently have over 250 clients and a 100% record success record.
If you are considering the EB-5 visa as an appropriate method to obtain permanent residency in the USA for you and your family you have probably undertaken some research to find out as much as possible about the process.
As you may have found out, the visa can require you to invest $500,000 in what is termed a regional center. To date there are, in theory, over 150 of these centers which have been authorized by The United States Citizenship and Immigration Service (USCIS) to offer programs that may qualify for the EB-5 visa.
You may have made some enquiries and asked a number of questions such as:
What are the number of applications and the success rate of these centers at the initial approval stage (I-526) and the removal of conditions stage (I-829)?
You may also want to know how firm the exit strategy is, i.e. the return of your $500,000.
There are numerous other questions that need to be asked and the answers carefully evaluated to make certain you are getting a completely truthful response rather than an answer designed to get you to buy-in to a particular project. These questions include the reality or otherwise of the centers targeted employment area (TEA) status.
However, assuming you are using an experienced EB-5 consultant with a 100% track record to provide you with this information, one question it is imperative to ask is *have you actually visited, on a regular basis, the centers you are commenting on?
It is also important to define what a visit is; it should not just involve being entertained by the Regional Center salespeople. It should involve looking at the program in depth and visiting the surrounding areas to obtain an overall impression of the program.
Over several years we have uncovered many issues from the visits we have regularly made to EB-5 Regional Centers. Some of these discoveries have been negative, others positive, but they have all been important issues that those considering the EB-5 program should be aware of.
Choosing an EB-5 visa regional center program requires experienced and impartial advice, you cannot simply rely on the information given by the regional centers or some of the consultants and attorneys who, in reality, are actually working with a particular regional center.
If you would like more information on your options and a free consultation on the strengths and weaknesses of EB-5 programs contact Which EB-5
There are many regional centers competing for your business. Some are truly excellent at the art of selling you a place on their program regardless of the merits of your other options. Certainly there are some excellent programs, but without independent expert advice how are you going to sort the good from the bad?
There are centers that have had refusals (at both the I-526 and I-829 stage), a center that lost its permission from USCIS to operate its program, a center where there may be concerns regarding meeting the required 10 jobs per investor criteria. One suspects that these regional centers may not be highlighting these points to potential investors.
Last year, a regional center in California had its regional center status revoked. The Center was unable to demonstrate that they met the criteria required by The United States Citizenship and Immigration service (USCIS) to raise funds; this was after the center had already received $9.5 million dollars from foreign investors! Have those investors received all their money back? Did they receive independent advice prior to selecting this center? were they warned of the investigations into the center?
Even a visit to a regional center is no guarantee of success. An official regional center tour can often highlight the positives but ignore the negatives. As an example a couple of centers in tourist areas often seem an attractive option to tourists on holiday / vacation in the areas. However, research from independent sources indicate specific reasons for, among other things, low property values in these areas which could severly impact your choice.
Another issue you may wish to consider is the track record of top management/directors in a regional center program. If the heads of a regional center have had adverse criticism or coverage in the past, are they likely to be highlighting this in their sales material?
Other centers may have difficulties in terms of creating the required ten jobs per investor or providing the necessary evidence of being Targeted Employment Areas (TEA).
The EB-5visa requires a $500,000 investment in a United States Citizenship and Immigration center (USCIS) Regional Center Programs. The track record of these programs varies considerably and investment terms can be as little as four years. It is vital you obtain independent information from experienced advisers prior to making a decision on Regional Center programs.
If you would like more information on these visa options and a free consultation contact Which EB-5
It is also absolutely vital that you thoroughly look into the background of the Consultants and Attorneys you may use to provide all the necessary background information you need to make the right decision.
If you chose an inappropriate Regional Center program all may seem all right at first, i.e. you obtain your I-526 approval (Initial Green Card). However, you could well face problems at the I-829 stage (removal of conditions) and/or difficulties obtaining the return of your $500,000 investment. Ultimately get it wrong and your whole family could face deportation.
We are very concerned that some of the Attorneys and Consultants providing advice are either not equipped or may be unsuitable. We have come across a number of issues which are of concern:-
Consultants / Attorneys recommending programs which they are actually advising and taking fees from (for their advice). Questions as to a conflict of interest arise in such cases i.e. how can an organization be completely independent if they have a paid professional advisory relationship with one or more Regional Centers?
Consultants / Attorneys / Agents who have not even visited a Regional Center they are providing information on.
Consultants and Attorneys who have been the subject of complaints from previous clients and/or been banned from operating by FINRA, a Stock Exchange or other regulatory body and are still advising clients on Regional center options.
Misinformation being given on web sites and in sales material etc.
The EB-5 visa requires a $500,000 investment in a United States Citizenship and Immigration center (USCIS) Regional Center Programs. The track record of these programs varies considerably and investment terms can be as little as four years. It is vital you obtain independent information from experienced advisors prior to making a decision on Regional Center programs.
From our perspective, as consumer advocates on the EB-5 programs, the focus is on the immigrant applicant who simply requires the opportunity to make a successful application that will provide the security of permanent residency for their family in the USA and the best chance of the return of their $500,000 in the shortest possible period of time.
A number of Consultants working in the EB-5 field also offer services to regional centers, ranging from advice on how to attract clients, how to establish a regional center etc. Additionally there are increasing numbers of courses being offered, that suggest the EB-5 can be an excellent way to raise money for investment projects that otherwise would be difficult to find finance for.
It is vital to realize that from the EB-5 applicants’ perspective, the visa is typically about their safest route to permanent residency in the USA and the safest and most effective use of their capital.
The present range of EB-5 programs vary enormously in size, track record and potential outcome for the applicant, both in terms of success or failure of the conditions being removed at the I-829 stage ( two years) and the return of their funds.
Concerns have been expressed that there could be dangers in some programs which unable to raise capital from the traditional banking sources, seek to raise a substantial part of the necessary financing from EB-5 investors who may fail to understand all the risks and implications. These risks can include potential deportation and or loss of some or all of their capital.
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 EB5Regional 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-5visa, 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.
Many factors can be considered important if you are applying for a visa to live in the USA.
High on the list would be accuracy of the information you are given. I was chatting to a French family at a party in Siesta Key FL last week and they were telling me about their move from Marseilles to Sarasota a few months before. The family had settled into their new lifestyle very well and were loving life in the USA.
We talked about the E2 visa they had used to relocate to Florida and I asked about their plans when their children turn 21. They looked puzzled and seemed not to recognize the potential immigration issue that arises when children reach the age of 21. It turned out that no one, including their Attorney, had highlighted to them some of the potential problems with the E2 visa, including that children may have to leave the USA when they are 21.
Over the past few years I have come across other examples of immigrants to the USA not being aware of all the necessary facts. This problem is puzzling in that Immigration Consultants and Attorneys must know about these issues, and yet sometimes fail to highlight them to the families involved.
Above all, the consequences are devastating for the families involved. They may find their family structure at risk of being split up after a few years if one or more children have to leave the USA as a result of visa issues.
It has been reported that the E2 is not the most appropriate visa for families seeking permanent residence in the USA. Other options such as the EB-5 visa may be more appropriate. Whatever visa route a family may take, being provided with all the information by a competent professional is of the upmost importance.
Given the cost and upheaval of making a permanent move to another country the last thing a family wants to find out after they have relocated there is that they face being deported back after a few years because of a fact they were not aware of.
WhichEB5.com, its owners and associates, do not function as attorneys or legal counsel and do not attempt to interpret immigration law and do not provide or offer legal advice or legal services or investment advice. Anyone considering an Investment based Visa should seek independent professional advice. The information on this site is intended to be general on the subject of the EB5 investment visa green card program and should not be relied upon for any specific situation. Any reference to designated regional centers on this website is posted as reference material only. For legal advice, please contact one of our attorneys. Prior results do not guarantee a similar outcome. Results depend upon a variety of factors unique to each person. Which EB5 is a service of Ireeco LLC 1515 N.Federal Hwy. Suite 300 Boca Raton Florida 33432 USA Telephone: +1-561-771-1330.
