As part of our ongoing research we recently identified significant potential problems with a particular EB5 program, this reinforces one of our ongoing concerns – that some families focus only on the legal implications of the visa and seek minimal advice or ask the wrong questions on the Regional Center program implications. All too often clients start by asking which particular program gives the highest return – this is not only the WRONG QUESTION TO ASK in relation to visa considerations, it can also be extremely dangerous.

With so many regional centers offering the EB5 pilot program it is inevitable issues would arise sooner or later, particularly with some immigrants from counties where English is not their first language. Frequently these families are reliant on local sales agents representing one or two programs and it is possible that a significant number of them do not realize the potential weaknesses of the program they may have entered.

A center that has, according to a recent report, run into problems, sold extensively in Asia. Legal advice focused mainly (as it should) on obtaining the visa but, the majority of clients failed to obtain separate independent advice of any other options and the financial implications of the center in question.

The problem now is not only do they stand to lose their $500,000 by making an inappropriate decision on their program of choice but also their right to stay in the USA if the project fails and the jobs are not created.

As part of our investigations we monitor programs closely to identify issues, this in itself can be a full time occupation – being aware of what is happening on the ground is very important and nearly impossible to do if you are several thousand miles away, possibly relying on a local sales agent or an attorney focused specifically on just the legal emigration question as opposed to the other important repercussions.

The potential problems with this project, as well as the earlier cases of alleged fraud by a visa consultant which is presently still being investigated by the Secret Service, emphasize the importance of seeking independent advice before selecting a regional center – there are some excellent programs available and the EB5 visa is for many the fastest and only option for permanent residency, but obtaining impartial advice is critical.

If you are interested in finding out more about the EB-5 Visa program visit Green Card via the Red Carpet.

Tags: Asia, eb5, financial implications, fraud, Green Card via the Red Carpet, jobs are not created, pilot program, regional center, USA, visa, visa consultant

This entry was posted on Thursday, March 11th, 2010 at 1:40 pm and is filed under Immigration. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.