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How do I verify the background of an EB-5 migration agent?

How can I ensure the legitimacy of an EB-5 migration agent? Are EB-5 migration agents required to be certified/regulated? Is there a body that licenses and regulates migration agents?

Answers

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    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    There is no U.S. licensing or regulatory structure for foreign migration agents. In China, the government agency responsible for licensing and regulating migration agents is the local or regional Public Security Bureau/Entry-Exit Administration Department. Each country would have its own requirements.

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    Sara Wang

    Immigration Attorney
    Answered on

    The agency is not regulated or certified by the U.S. government. Some of the countries DO regulate/certify immigration agencies; however, they are not strictly monitored. I suggest speaking with the project and your immigration attorney directly (if you are hiring one through the agency). Or better yet, insist on hiring an independent U.S. attorney to help you not only vest the project, but also the immigration agencies. A lot of the immigration agencies are financially tied to the project; thus it is important to do your due diligence as a client yourself before hiring an agency as well.

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    Lynne Feldman

    Immigration Attorney
    Answered on

    In the United States yes, but overseas it would depend on the laws of that country. I would ask the agent to show proper state licensing.

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    Robert Lee

    Immigration Attorney
    Answered on

    If the investor is in the United States, his finder must have a securities license. If they are overseas, it depends on the country's laws. You do not really need an agent. But they can help with the process and relocation. If you use one, just make sure they are more focused on helping you out than receiving their commission.

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    Jinhee Wilde

    Immigration Attorney
    Answered on

    It depends on the country where they do business. There are many agents who are not licensed or registered to do business. With the SEC's increased scrutiny, perhaps you should insist on seeing their business registration and license documents before doing business.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    In the United States, FINRA and the SEC certify broker-dealers. Migration agents overseas are not covered by U.S. law if they are acting entirely outside of the United States, but would be subject to the laws of that country. Recommendations from others who may have used a certain agent may be your best bet.

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    John J Downey

    Immigration Attorney
    Answered on

    In the United States we really do not have any specific immigration "agents." If you are talking about someone advising you about a certain investment, they should be a broker licensed under the SEC. An attorney specializing in immigration can advise you regarding the suitability of a project as to EB-5. If the "agent" is outside the United States, then the particular country may require they be licensed, as they do in China.

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