The primary motivation of the EB-5 investor is to ultimately receive their permanent residency in the United States. For investors to be willing to continue to invest in EB-5 projects, issuers must do everything they can to increase the likelihood of a positive immigration result. With EB-5 being a 3-5 year journey filled with plenty of rules and regulations, there is quite a bit of paperwork and documentation needed throughout the process to ensure all the requirements of the program have been met.
In the most recent NES Financial Webinar – EB-5 Success Strategies, Operational Focus: Ensuring Immigration Success – speakers Reid Thomas of NES Financial, Robert Divine of Baker Donelson, and Joseph McCarthy from American Dream Fund – discussed real world experiences and some practical solutions that an EB-5 issuer can implement to make sure everything goes smoothly.
A successful I-829 removal of conditions requires evidence that the New Commercial Enterprise was established, the investor made the full investment into the NCE, the full investment was sustained at risk, and the job creation requirements were met for each investor. Obviously, the more investors involved in your EB-5 project, the more complicated this can be. Unfortunately, far too many issuers do not do enough planning ahead of time and end up pulling data together from many sources, usually at the last minute. With this approach, not only is there a high risk of things getting lost, but for spreadsheets especially, these methods can lead to errors. Implementing an EB-5 specific solution that can store all of the data in one centralized location will not only increase efficiency but will also reduce the risk of misplacing an important document or forgetting to file something by a certain deadline.
NES Financial designed the EB-5 Immigration Workflow Solution for this exact purpose. The Solution not only serves as a central repository of data but also provides users with color-coded alerts and dashboards to warn of impending filing deadlines for each investor and his/her family. This not only takes the stress off you as an issuer but gives peace of mind to your investors.
Don’t run the risk of missing a deadline and having an investor’s I-829 petition denied. Put a proper solution in place that takes care of the added risk and compliance for you and allows you to focus on doing what you do best.
NES Financial welcomes your questions and opinions. Allow us to address your business needs by contacting us. We look forward to hearing from you!