 Be Careful Out There There used to be a popular TV police series in the USA called Hill Street Blues where the catchphrase was “let’s be careful out there”. As immigrants to the USA ourselves, we feel it is very important to stress these words when you are looking at the EB-5 regional centers. We feel particularly concerned when we come across issues that may lead to potential problems for immigrants.
The EB-5 visa does requires a balancing act – It provides much needed jobs for the USA and it provides the opportunity for permanent residence (Green Cards) in the USA to the immigrant in return for investing $500,000.
However, while the $500,000 investment is required to be at risk, we are concerned if regional center programs simply become a method to use the hard earned lifesavings of immigrants in programs which may be considered by some, in the current economic climate, as an easy source of funding that would otherwise not be available.
We are aware of a number of individuals or groups who are currently looking into establishing their own EB-5 Regional Center. Some of these proposals are from real estate developers struggling and unable to complete their projects due to a lack of funds. The problem is not just funding but the falling prices which have contributed significantly to a projects’ potential failure. Some of these developers recognize that foreign funds are an ideal way to complete their projects to buy redevelop and sell foreclosed or distressed properties.
There are many issues that need to be considered in these circumstances, particularly in relation to jobs and exit strategy, i.e. getting your hard earned money back – for more information on the EB-5 regional center program contact Which EB5 via email at info@whicheb5.com
And remember - Be careful out there!
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