This is a very critical time for people that are planning to move forward with EB-5. And I wanted to give you two guidelines for projects you might be considering at this time. I’ll try to give some brief explanation as to why I believe they are important.
No. 1 you should be investing in a project that has exemplar approval. This means the project has gone to USCIS with a very detailed application that covers the business plan, the business entity and the offering documents, and USCIS has reviewed that package and has found that it meets the requirements for EB-5.
This is critical, but why is this critical? Years past I was able to advise people that they could invest in a project without exemplar approval because it took so long. However, let’s say for example your application were denied for some reason, and the project being very honest would return your funds to you and you would have your investment funds back. However, because of the deadline on November 21, you would need to invest $900,000 for the same benefits.
Another thing you want to look for is a completion guarantee. As you may know if you’ve been studying EB-5, you’re going to be filing what’s called an I-829. That’s the removal of the conditions. You’re going to want to make certain the project you’re investing in has a completion guarantee and the project indeed was completed because that is going to be critical when you get to your I-829.
So two things to discuss with your financial advisor and your attorney: No. 1 look for a project with exemplar approval. No.2 make certain that the project has a completion guarantee.
I hope this is helpful to you. Please contact us here or call 415-221-2345 to schedule a consultation on EB-5.