New EB-5 Regional Center Reforms Proposed

Representative Jared Polis (D-CO) introduced a new bill in the House in February that proposes to set up an “EB-5 Integrity Fund” made up of required contributions from Regional Centers. The fund would be used to underwrite the costs incurred by the Department of Homeland Security for site inspections and background checks of the Regional Centers themselves.

The bill, which is similar to one introduced in the Senate in 2015, also proposes that Regional Centers would be required to file a separate application for each investment offered through a commercial enterprise. That application would be further be required to include comprehensive business plan for project to which the investment will be channeled.

The bill includes an accountability factor that debars Regional Centers or fining them a percentage of the capital which they used in any way that is in violation of federal law.

Although the proposal might make some Regional Centers nervous, it’s components are both reasonable and enforceable, which are necessary for law to be justly and appropriately applied.

Our immigration and investment expertise is available to you in Dr. Finkelson’s ground-breaking book that was published in 2014, How to Find Chinese Investors, Agents & Clients for Your EB-5 Projects & Services. A Practical Guide for Regional Centers, Attorneys, Developers and Businessmen. Ordering information is available on our websites: www.Business-Visa-USA.com, www.Business-Visa-USA.cn, www.Business-Visa-USA.hk and www.Business-Visa-USA.ru.

As always, we welcome your input and discussions about immigration on our LinkedIn group: Business and Immigration News & Viewshttps://www.linkedin.com/groups/8140530

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