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The program is positioned in an extremely odd and non-helpful administrative place for the excitement of worldwide investment in the United States. We are providing away as well much for as well little of a financial investment.


The local facilities, with their half-million plans, basically damaged the much more practical million-dollar component of the EB-5 program. Third, such programs, if we have them in any way, as they do in Australia, need to have to do with producing company entities, not easy investments. It ought to be concerning producing actual work, not specify calculations concerning the indirect creation of work, which is now component of the legislation.


Maybe that is one of the reasons that it has actually fallen short year after year to get to the legislative goal of 10,000 financial investment visas. Fifth, the Regional Center Program is naturally clumsy, and the program is as well full of middlemen, both public and exclusive. The program has even more than its share of rumors, which I will get involved in later on if anybody is interested.


This is a company that loves to state yes to candidates, but as the table in my statement reveals, USCIS policemans have a lot more problem with EB-5 applications than others. I assume that is something that nobody has truly chatted about a lot. EB5 Regional Center Program. There are high prices of internal rejections in this program and completely factor

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Seventh, in this program visas go to individuals that can not get them otherwise and to individuals whose scheduled financial investment is really much less, according to the Federal Book, than the ordinary mean total assets of all American family members in 2007. Allow me increase on among my observations.


My quote based on the financiers' permit applications filed 2 years after the very first financial investment-- these are the solid ones that continue to be and are approved. This is 2009-- was that they had about $191 million confirmed-- that is my estimate. USCIS does not give the sort of information that we might use on this.


So for every $100 of increased international financial investment that year, the EB program added one penny. Under a much more shaky analytical base, the initial applications of would-be immigrant capitalists, USCIS is informing journalists that the degree of investment in the just-concluded year was about $1.2 billion. Let us approve that.

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Thank you for paying attention to me. Chairman Leahy. He is the head of the company's migration practice group.




Divine worked as Chief Advice of the USA Citizenship and Immigration Solutions from July 2004 up until November 2006, the year in which he was Acting Director, and then Performing Deputy Director. He has worked extensively with the EB-5 program secretive technique. He was chosen, as I understand, vice head of state of the Organization to Purchase United States, the national industry organization of local centers.


DECLARATION OF ROBERT C. DIVINE, LAWYER, BAKER, DONELSON, BEARMAN, CALDWELL, AND BERKOWITZ, P.C., CHATTANOOGA, TENNESSEE, AND VICE PRESIDENT, INVEST IN THE United States (IIUSA) Mr. Divine. Thank you, Mr. Chairman, Senator Grassley, and others.


At the majority of, if all 10,000 ports were utilized, it would be 1 percent of the immigration each year to the United States. It is not near that yet, but it is expanding and getting toward that. Particularly as USCIS, the firm that supervises the program, has actually been making the guidelines more clear and the processes extra logical and clear for individuals that are arranging investments and for the more info financiers who are spending, even more people have agreed and able to place initiative and money into the procedure to discover great tasks and develop them, and after that much more capitalists have wanted to invest their cash and take the risk and utilize the cash to create the tasks that is the factor of the program.

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These tasks do not wait about for life, and USCIS recognizes that and are trying to speed up the program, speed up the process - EB5 Regional Center Program. That does not suggest that they are relaxing their analysis, and, as a matter of fact, they are all set to deny applications that are not certifying. And they do so, as was pointed out


The local center component of the program is not. It is part of an appropriations bill that was established in 1992, and ever since that program has been extended 5 times for 19 years. It is time for it to be irreversible, and it needs to be done currently and not nearer to the day of expiration in September.


The procedure takes a good while to develop a project and after that to obtain the investors accepted. And they do not want their money flowing via until they have been accepted. And the specter of the expiration of this Regional Center Program in September is already discouraging the advancement of tasks.

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I would love to make clear that the Regional Center Program is not the exact same as the half-million-dollar thing. The concept of half a million or a million is a function of the normal EB-5 legislation that belongs to the code. It just is a fact that a lot of the local facilities that are merging investments have set those in locations of high unemployment or in rural locations where fifty percent- million-dollar financial investments are allowed, which makes good sense.