The EB-5 visa has been available in its current format for several years and as a result there is a fair amount of evidence to draw on regarding its success, as well as some failures.
Those brave pioneers who first charted the EB-5 route some six years ago may now be in a position to request their investment back and obtain US citizenship if they so choose.
The EB-5 investor visa program has many benefits but an ongoing problem remains for some seeking information direct from the regional centers. The regional centers want, and indeed need, to sell places and sometimes they may be economical with the facts in order to win over the client and tempt them away from a competing regional center project.
For example, if you have a client in a hurry to obtain an EB-5 visa you may be drawn to a particular regional center project that makes a number of claims including that it has a faster processing time.
Here is an example of a quote from a regional center:
“Credibility of the State of XXXXXXX with governmental responsibility and oversight means that investors’ petitions are given priority by CIS, resulting in a faster path to approval”
Enquiries to the USCIS into the accuracy of this statement by independent EB-5 investigators resulted in the following official response:
“XXXXXXX Regional Center petitions are not given priority over other Regional Center petitions”.
Thus the official response from the Government Agency directly contradicts the claim in the sales material from the Regional Center Program.
Are any other statements made by this regional center inaccurate?
Footnote: This subject was first covered on August 4th, 2010 at www.whicheb5.com/blog. It is reproduced here due to the statement by the regional center featured above still being used by that same regional center on their website eighteen months later.
Stephen Parnell is a Joint senior partner of WhichEB5. He has spent over a decade working with large international relocation firms. His expertise lies in providing advice to clients looking to relocate and invest in the USA. Stephen travels extensively throughout the United States visiting potential new EB5 investor programs and advising clients. He holds a number of professional licenses, is a published author and seminar presenter.