The EB-5 process can be complicated, and working with experienced advisors and professionals ensures that you avoid common pitfalls that could, at best, extend processing times and, at worst, lead to a denial. The various professionals that typically collaborate on any EB-5 petition include:
1. EB-5 Advisor:
An EB-5 advisor can serve as a quarterback for your EB-5 journey by vetting service providers, engaging in due diligence on projects, and working with you one-on-one to ensure a smooth process. As a FINRA registered Agent I interact with Regional Centers, EB-5 immigration attorneys, securities attorneys, economists, and business plan writers on a daily basis. I constantly conduct due diligence on projects and I remain cognizant of changes in EB-5 policies and regulations. As part of my services, I offer recommendations to investors detailing the pros and cons of each project. If an investor chooses the Direct EB-5 Investment route, I not only provide guidance through the process of successfully establishing the business, but also provide access to my network of professionals to ensure the EB-5 petition is approved by USCIS without a hitch.
2. Immigration Attorney:
Your immigration attorney will assist with immigration planning; develop a source of funds strategy and help compile the associated documentation; and ensure that you remain in compliance with immigration regulations. Your immigration attorney will work with you throughout the process, starting with the I-526 petition and ending with your citizenship application. As the EB-5 process involves multiple intertwined steps, it is crucial that you choose an experienced attorney with in-depth knowledge of the complexities of EB-5 law.
3. Regional Center/Investment Issuer:
The Regional Center manages your investment throughout the EB-5 process. It is important to thoroughly vet the Regional Center by asking in-depth questions about prospective projects and the Regional Center’s track record, and validating the information with our advisor and attorney. As your EB-5 advisor, I can analyze and compare Regional Centers and their sponsored projects so you can select the best fit for your immigration and investment goals.
If you choose the EB-5 Direct route, you will not work with a Regional Center and instead will require additional service providers to complete a comprehensive petition. These include:
4. Business Plan Writer:
The business plan is a crucial aspect of the I-526 petition as it is the document that USCIS uses to determine whether the proposed business will meet the job creation requirements. If you are pursuing an EB-5 visa through the Regional Center route, the associated Regional Center will develop a business plan for each sponsored project that is USCIS compliant, as well as an economic report that projects indirect and direct job creation using approved methodologies. If you are pursuing the Direct EB-5 route, you must furnish your own business plan for the I-526 petition. EB-5 business plans must meet specific criteria set forth by USCIS and are more complex than standard business plans. It’s important to work with a business plan writer that has extensive experience in the EB-5 industry and a successful track record of approvals with USCIS. As your EB-5 advisor, I can connect you with the industry’s leading plan writers.
5. Economist:
Economists develop Economic Impact Reports and can also conduct analyses of project locations to determine whether they are Targeted Employment Areas and, thus, qualify for the lower investment amount.
Economic Impact Reports are typically only used for Regional Center projects, as they analyze direct as well as indirect and induced job creation (the latter of which can only be counted under the Regional Center model). A comprehensive business plan (complete with direct job projections backed by cited industry benchmarks and market data) is sufficient for Direct EB-5 projects.
In the Direct EB-5 route, an economist is needed to conduct an analysis of a project’s location to ensure that it qualifies as a TEA. New regulations that went into effect at the end of November 2019 changed the definition of a TEA, making certain locations more difficult to qualify. An economist can run an analysis of unemployment and labor force data to determine whether a location does or does not qualify. This is important during the project planning process and is also documentation that must be submitted with an I-526 application.
6. Securities Attorney:
A securities attorney can develop operating agreements and company formation documents for new ventures. He or she would also be key in assembling private placement memorandums and offering documents for ventures that are raising capital.
Regardless of the route you plan to take to obtain your EB-5 visa, I can put together the right team to handle your case.
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