The EB-5 visa program was introduced to boost economic growth by encouraging foreign capital investments in exchange for permanent residence in the U.S. Like many investment projects, the EB-5 program could be long and complicated, requiring the assistance of certain professionals.
The vast wealth of information on the EB-5 program leaves the potential investor with many things to consider. This includes the U.S. Citizenship and Immigration Services (USCIS) EB-5 eligibility requirements, the best EB-5 project to opt for, petition drafting and other documentation, and capital deployment strategies based on one’s financial capacity.
Foreign investors stand a better chance of having a successful EB-5 investment when they contract the services of qualified professionals with a solid background in the industry.
In this article, we will talk about key professionals who can help ease and accelerate your path to obtaining a U.S. Green Card.
Key EB-5 Service Providers
Contact Reliable EB-5 Professionals
Key EB-5 Service Providers
The professional services required by each investor vary depending on the type of EB-5 project they decide to invest in, their financial status, risk tolerance, and other personal dispositions. Nevertheless, investors must contract reputable professionals with particular expertise and experience in EB-5 projects.
In addition to specialization in the EB-5 industry, investors should look for professionals with relevant certifications as proof of their credibility and commitment. The professional’s network, accessibility, communication skills, and overall compatibility with your investment goals should be considered alongside their professional credentials.
Below are the three key EB-5 service providers foreign investors should consider contracting to ensure a smooth, successful EB-5 process.
1. EB-5 Immigration Attorneys
Although the USCIS does not make it mandatory, hiring an attorney to facilitate your EB-5 visa process is highly advisable. As mentioned above, investors should hire attorneys working in the EB-5 space. Investors must also inquire about their attorney’s success rate and their relevant qualifications.
Credentials such as membership in the American Immigration Lawyers Association (AILA) and commitment to continuing legal education (CLE) can be signs of a competent EB-5 immigration attorney.
Below, we’ve listed some of the services provided by an EB-5 immigration attorney to show how instrumental they are to the EB-5 visa process.
Petition Filing, Application Preparation, and Other Paperwork
The EB-5 attorney handles all the paperwork, from filing petitions to drafting necessary applications. If the USCIS rejects any of these documents, it is the attorney’s responsibility to investigate what went wrong and process a reapplication where possible.
Immigration lawyers also prepare other documentation, such as proof of source of funds, ensuring their accuracy and delivering the documents in a timely and organized manner.
Legal Representation
EB-5 lawyers assist investors in understanding the legal aspects of their investments and if they match their goal of gaining U.S. permanent residency. They also help create tailored immigration plans to ensure a successful EB-5 investment.
When foreign investors are not native English speakers, their lawyers may also act as liaisons on their behalf, communicating and representing their interests to USCIS officials and other stakeholders in the EB-5 project.
Compliance and Due Diligence
To mitigate risks, missteps, application rejections, Requests for Evidence (RFEs), or other issues, EB-5 attorneys ensure that investors’ paperwork complies with the EB-5 requirements. They also stay updated on changes in the EB-5 industry and educate investors accordingly.
The services of an experienced immigration lawyer will come at reasonably high costs. However, their contribution to your immigration success is always worth the investment. Siva’s story is the perfect example of the impact of a competent attorney on the EB-5 process. She recounts that her EB-5 attorney was indispensable and served as a legal advisor and mentor.
2. EB-5 Regional Centers
EB-5 regional centers are commercial entities that enable investors to invest collectively in one project. To invest through a regional center, investors must fulfill all the eligibility requirements of regional center-sponsored projects and pay any administrative fees.
The most common reason potential investors opt for the regional center route is that it allows multiple foreign nationals to pool investment funds for a project. This is typically achieved by forming a limited partnership where each investor is a limited partner. This way, investors do not need to get involved in the day-to-day operations of the business they invested in—they just take on a policy-setting position as limited partners or board members.
Furthermore, the job creation requirements for regional centers are more relaxed as both direct and indirect jobs count towards the 10 jobs per investment requirement. This makes the EB-5 process much smoother, increasing the possibility of success.
There are multiple regional centers for foreign investors to choose from. Below are some of the basic qualities investors should seek while selecting a regional center:
USCIS Designation and Track Record
Regional centers that have successfully filed their Form I-956 will be approved and designated by USCIS, followed by annual I-956G filings to prove their continued eligibility. Under the EB-5 Reform and Integrity Act of 2022 (RIA), regional centers must also receive Form I-956F project exemplar approvals for each project they sponsor.
By selecting a regional center with a track record of exercising due diligence and compliance with reporting requirements, investors can minimize both financial and immigration risks involved in the investment process.
Expertise of Regional Center Management Teams
The best regional centers are typically run by experienced professionals in the EB-5 industry who have a track record of successfully executing EB-5 projects from start to finish. By choosing these regional centers, investors can expect expert services in terms of investment structuring, project evaluation, and overall guidance in navigating the EB-5 process.
Transparency
A reputable regional center will always give immigrant investors the documents and information they need to understand the regional center’s processes, benefits, and track record with investors like them.
When evaluating potential regional centers, investors should always research their past projects and ask questions about petition approval rates, the regional center’s experience with projects similar to the one they’re interested in, etc. This includes examining whether the regional center has worked with the developer of the specific EB-5 project in question before, and whether they have expertise in the relevant field or sector of the economy.
3. Financial Advisors
While the primary goal of EB-5 investors is to obtain a Green Card, the investment is still a viable long-term financial project in which returns can be expected. As a result, financial advisors are indispensable to the EB-5 investor.
Investors should hire financial experts for a solid foundation in efficient capital deployment and investment management. These experts should have particular experience in handling EB-5 investments and be familiar with the unique intricacies of the process.
Besides recognized professional certifications to prove their expertise, financial advisors must have the necessary skills to break down complex financial concepts for investors and assist them through every step.
Typical services they provide to ensure the financial success of EB-5 investments include:
Risk Assessment and Comparative Analysis
Financial advisors are responsible for conducting a comparative analysis. This analysis includes the project location, expected returns, risk tolerance, immigration timelines, and the investor’s exit strategy to determine the best investment option for them.
After deciding on an investment project, financial advisors conduct a holistic risk assessment of the entire EB-5 project plan and highlight possible pain points to investors. Throughout the EB-5 process, financial advisors ensure continuous tracking and reporting of the investment’s progress.
Analysis of Tax Implications
Another key role of financial advisors is examining tax laws in the U.S. and the investor’s home country. Their objective is usually to devise tax avoidance strategies to prevent investment returns and other capital gains from being slashed by rigid tax laws.
Financial Literacy
Financial advisors educate investors by explaining complex financial concepts and providing them with resources to expand their financial knowledge.
Contact Reliable EB-5 Professionals
We’ve established how vital certain professionals are to the EB-5 visa program. However, investors should still conduct their own research using official resources to gather as much information as they can. This way, they can filter varying opinions from different experts and take control of their investments.
EB5AN offers numerous first-rate, low-risk EB-5 regional center projects, which have helped about 2,300 families across 60 countries to date. Our experience in the EB-5 industry has earned us a strong network of diverse, qualified professionals.
If you’re interested in connecting with some of the best EB-5 experts in the U.S. and abroad, schedule a free consultation with EB5AN, and you will be equipped with valuable insights to make informed EB-5 investment decisions.
