Michigan Criminal Attorneys Blog
1) What current projects are available?
a. How many investors are available per project?
b. What is the percentage of investment of non EB-5 participants?
c. Does the EB-5 project have US investors as well as immigrant investors?
d. Is there any governmental backing of the investment? Please provide details.
e. Is the proposed business venture
i. Located in a targeted unemployment area?
ii. AND Supported by an econometric model based on a business plan forecasting indirect and/or direct job creation?
f. Is the investor a limited partner under the Uniform Limited Partnership Act?
2) What is the amount required to be paid by the investor?
a. How much does the applicant need to invest
b. Will the EB-5 applicant need to invest additional money at a later date?
c. What are the management fees? Are the management fees capped?
d. Are there any other expenses which we should be aware of?
e. Does the investor have to make any deposit or pay any fee for the offering materials?
3) What is the amount of return expected? (in prospectus)
a. Are the funds at risk as required?
b. When is the return paid? Monthly, yearly, end of project?
c. How is the return determined?
d. How are investment decisions made by the Regional Center?
e. Does the Regional Center provide regular reporting of the status of the investment to the investors? How often does that occur?
4) Who is your contact person, and how can they be reached?
5) What is the step by step process for the EB-5 investor to invest in your Regional Center?
6) What is your escrow procedure to insure that funds are released upon an approved I-526 petition?
a. Is your escrow account protected by US government instruments?
b. What safeguards are in place to protect the escrowed funds?
c. Are there escrow accounts in the investor’s home country available?
d. Does the applicant get interest on their money until it is spent on an EB-5 project? If so, how much interest?
7) How long has your Regional Center been doing business?
a. What previous projects has the regional center been involved with?
b. Does the program have a Regional Center designation by the USCIS (meaning that the USCIS has reviewed the proposed business plan, any accompanying econometric model, location, and proposed job creation and has determined that the proposed business plan meets the requirements of the Immigrant Investor Pilot Program)
c. Has the Regional Center obtained pre-approval exemplars?
d. How many years of experience does the general partner or principal in the investment project have in working with immigrant investor programs?
e. How many investors have previously participated in your Regional Center?
f. How many investors are currently participating?
g. How many I-526 approvals?
h. How many I-526 denials?
i. How many conditional green card approvals?
j. How many conditional green card denials?
k. How many Removal of Condition approvals for late 90’s cases?
l. How may Removal of Condition denials for late 90’s cases?
m. How many post 2002 law removal filings/approvals?
n. How many post 2002 law removal denials?
o. Have any general partner or principal been involved in any prior lawsuits concerning their investments?
p. Does any general partner or principal have any prior criminal convictions?
8) What assistance do you offer regarding due diligence?
9) Is it anticipated that the regional center company and principals be in business in the future at the time for Removal of Conditions?
10) Are there any chances of shortfalls in your projected employment creation?
a. What is your job creation methodology?
b. What precautions are taken to monitor job creation?
c. What steps are taken if the requisite job creation has not occurred?
d. Will the jobs be created within 2 and ½ years from the approval of the I-526 petition?
11) In the subscription agreement or purchase contract, is there a provision for the return of money if the I-526 is denied?
a. How much is refunded?
12) What is your exit strategy?
a. When can the investment be sold?
13) Are you willing to pay the international broker a fee (if an international broker is involved) ? How much?
14) How much is the attorney referral fee?
15) Is the Investor free to use his/her own attorney?
16) Can you provide copies of the following:
a. Copy of any contract between LLC and the investor
b. Bank reference of EB-5 general partner and/or principals
c. Dunn and Bradstreet on general partners and/or principals
d. Business plan
e. Financial records
f. Documentation of returns on past EB-5 investment projects