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How can I perform due diligence on EB-5 projects for my son''s visa application?

I am currently helping my son to pick an EB-5 project. He will be the primary applicant for this visa, and is currently on an F1 visa and attending a U.S. university. However, I will be the one performing due diligence on the projects. Can I use my information to fill out the investor questionnaire to receive EB-5 project information? Would I qualify as an accredited investor when reviewing the project offering documents?

Answers

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    Julia Roussinova

    Immigration Attorney
    Answered on

    You can certainly do so. It is advisable that you have an EB-5 attorney hired who could obtain confidential offering documents on your behalf and also advise you regarding legal aspects of the same. A licensed investment broker should be able to conduct investment due diligence. As to whether or not you qualify as an accredited investor, it is necessary to have more information.

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    Ed Beshara

    Immigration Attorney
    Answered on

    A registered investment adviser should provide due diligence on the financial and business viability of the project so that the investor can make an informed and independent decision to invest in a particular project.

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    John J Downey

    Immigration Attorney
    Answered on

    You can and should fill out the questionnaire. Even though you gift the money to your child, you will be required to show the source of the funds.

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    Oliver Huiyue Qiu

    Immigration Attorney
    Answered on

    You can certainly fill out the Investor questionnaire to receive the project information. When reviewing the documents, there is no legal requirement that the reviewer himself needs to be the accredited investor. Some regional centers may limit the distribution of the project materials to accredited investors only, some do not. One way is to utilize an immigration attorney, who should have no problem obtaining those materials on your behalf, saving your time to get accredited status. The accredited investor is a concept under securities law. Most regional centers do not conduct the verification process on accredited investor status. It is a separate process.

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    Wilka Toppins

    Immigration Attorney
    Answered on

    Yes, most regional centers will work with an agent for the investor. You would be considered the "agent." However, they will still require your son to fill out the investor questionnaire to determine status as accredited investor due to SEC regulations. You can also hire an attorney to do the due diligence and most regional centers will release legal documents to a law firm representing the investor preliminarily.

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    Cecilia Shang Benting

    Immigration Attorney
    Answered on

    You can hire business attorneys to do due diligence.

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    Denyse Sabagh

    Immigration Attorney
    Answered on

    If your funds are sufficient, you would be an accredited investor. However, on the application you put his name and information and state that you are providing the funds to him as a gift and will need copies of the project offering documents too.

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    Jinhee Wilde

    Immigration Attorney
    Answered on

    Yes. Because the investment fund is coming from you, you could fill out the questionnaires as the investor while doing due diligence. Make sure the due diligence focuses on the EB-5 track record, including the exit strategy for getting your principal investment funds back after five years or so.

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    Shahzad Q Qadri

    RC Creator
    Answered on

    Yes you should be able to conduct the due diligence; as for whether you will qualify as an accredited investor requires more information.

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    Vaughan de Kirby

    Immigration Attorney
    Answered on

    It is very difficult to do it without the help of a professional! I recommend that you discuss this with your investment immigration attorney who should be able to obtain independent due diligence on your behalf.

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