NES Financial attended ILW’s “The EB-5 Summit for Attorneys and Developers” in New York. The event was very well attended and the day was filled with informative sessions geared toward everyone involved in the EB-5 industry including, immigration and securities attorneys, Regional Centers, project owners, etc. The first session I attended advised the attorneys in the audience (many of whom were immigration attorneys) what they should do if their clients ask about specific projects.  Due to the SEC’s Reg S & Reg D restrictions they have to be very careful about providing information on existing projects even if being pressured by clients to do so.

The 10am session, “526 Petitions and Source of Funds Issues”, dealt with source of funds issues touching on what is and is not acceptable as proof of source of funds for the USCIS and also what documentation the USCIS may request to prove the funds were obtained legally, etc.  The often difficult task of obtaining the required information from investors from countries such as China was also discussed at some length.

There were many other topics discussed in depth throughout the day. Over all it was a very educational event for everyone who plays a part in the EB-5 process.

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