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Safety and Security of the EB-5 Visa Program
February 8th, 2011

The vast majority of holders have experienced no problems with the and have been successful with their applications, the removal of the conditions (I-829) and a number have invested long enough for their $500,000 to be returned in full.

However there has been a small minority who experienced problems such as refusals at or I-829 stage, or the loss of all or part of their .

There are a number of applicants who fell at the first hurdle failing to obtain their I-526 approval. Problems can occur if a regional center program requires a certain number of investors to reach a critical mass and fully fund its program. Unfortunately there are programs presently being marketed to investors that may be susceptible and therefore will not provide the requirements for successful I-526 applications.

Concern has been expressed regarding programs which simply see affluent foreigners as an easy source to fund risky and poorly thought through schemes which cannot raise capital in other ways. Particular problems can occur if the potential EB-5 investors do not understand English and rely totally on overseas agents who may fail to identify the weaknesses of a particular EB-5 regional center project.

A very small number of EB-5 visa holders experienced issues at the I-829 stage (removal of conditions). Clearly this is a significant problem for the visa holders who have been living in the for two years by this time. In one particular case the regional center involved switched the investors funds to a program that determined did not comply with the original requirements of the program.

An extremely small number of investors lost their funds due to alleged when funds were not submitted to a regional center or attorneys escrow account but to a third party (currently under investigation). If the necessary advice had been obtained beforehand, the victims of this scenario could have been warned about the past track record of the individual they were working with. Checks on bankruptcy history and the commission can identify important background information.

For details on the track record of regional center programs contact Which EB5
 
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EB-5 visa – Claims and Lies
January 26th, 2011

The immigration process to the seems to have had its share of misleading information and over the years.  Following regular checks we have come across a number of problems that could have been avoided if proper independent and impartial advice had been sought before applying for an .

A number of sales claims are presently being made by certain regional centers, as well as visa consultants, that need to be thoroughly investigated.

Recent examples of doubtful claims that require further explanation include:

There are key reasons why these statements require further research.

If you are considering the EB-5 visa it is very important that you are given hard hitting, in-depth impartial advice from experts who have actually visited the proven regional center programs. For more information contact Which EB5
 
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Is the EB-5 visa safe? – Part 3
September 16th, 2010

Over the past couple of days we have identified that the vast majority of holders have not experienced any problems with the and have been successful with their applications, the removal of the conditions () and a number have invested long enough for their $500,000 to be returned in full.

However, there has been a small minority who experienced problems such as refusals at or I-829 stage, or the loss of all or part of their . Today we look at examples of where these issues have occurred and why.

Problems can occur when a program fails to attract the required number of investors to fully fund its program. Unfortunately there are programs being marketed to investors which are unlikely to ever get off the ground and therefore will not provide the requirements for successful EB-5 applications. For EB-5 visa holders who have already invested in such programs there are two obvious questions. If the program does not go ahead, jobs will not be created, therefore they are unlikely to obtain their I-829 approvals? Will their investment be returned?

Concern has been expressed regarding programs which simply see affluent foreigners as an easy source to fund risky and poorly thought through programs which cannot raise capital in other ways. Particular problems can occur if the potential EB-5 investors do not understand English and rely on commission earning agents based overseas who may fail to identify the weaknesses of a project.

A very small number of EB-5 visa holders experienced issues at the I-829 stage (removal of conditions). Clearly this is a significant problem for the visa holders who have been living in the for at least two years by this time. In one particular case the regional center involved switched the investors funds to another program that determined did not comply with requirements.

An extremely small number of investors lost their funds due to alleged fraud when funds were not submitted to a regional center or attorneys escrow account but to a third party (currently under investigation). If the necessary advice had been obtained beforehand, the victims of this scenario could have been warned about the past track record of the individual they were working with. Checks on bankruptcy history and the or other state web sites can expose important background information of advisers.

Tomorrow we will look at the importance of experience when dealing with regional centers and the importance of reducing risk.
 
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The EB5 visa – What can happen when you don’t ask the right questions?
March 11th, 2010

wrong-questionsAs part of our ongoing research we recently identified significant potential problems with a particular program, this reinforces one of our ongoing concerns – that some families focus only on the legal implications of the visa and seek minimal advice or ask the wrong questions on the program implications. All too often clients start by asking which particular program gives the highest return – this is not only the WRONG QUESTION TO ASK in relation to visa considerations, it can also be extremely dangerous.

With so many regional centers offering the EB5 it is inevitable issues would arise sooner or later, particularly with some immigrants from counties where English is not their first language. Frequently these families are reliant on local sales agents representing one or two programs and it is possible that a significant number of them do not realize the potential weaknesses of the program they may have entered.

A center that has, according to a recent report, run into problems, sold extensively in . Legal advice focused mainly (as it should) on obtaining the visa but, the majority of clients failed to obtain separate independent advice of any other options and the of the center in question.

The problem now is not only do they stand to lose their $500,000 by making an inappropriate decision on their program of choice but also their right to stay in the if the project fails and the .

As part of our investigations we monitor programs closely to identify issues, this in itself can be a full time occupation – being aware of what is happening on the ground is very important and nearly impossible to do if you are several thousand miles away, possibly relying on a local sales agent or an attorney focused specifically on just the legal emigration question as opposed to the other important repercussions.

The potential problems with this project, as well as the earlier cases of alleged by a visa consultant which is presently still being investigated by the Secret Service, emphasize the importance of seeking independent advice before selecting a regional center – there are some excellent programs available and the EB5 visa is for many the fastest and only option for permanent residency, but obtaining impartial advice is critical.

If you are interested in finding out more about the EB-5 Visa program visit Green Card via the Red Carpet.
 
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