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What are the residency requirements for EB-5 project developers?

I am looking to raise capital for a new venture through the EB-5 program. Is there a compliance component which requires SEC approval? Are there any specific residency requirements for EB-5 project developers?

Answers

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    Julia Roussinova

    Immigration Attorney
    Answered on

    There are no residency requirements for developers.

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    Lei Jiang

    Immigration Attorney
    Answered on

    There is no residency requirements for EB-5 project developers. Most EB-5 investors can qualify for an exemption that would enable the investment to be made without SEC securities registration. Also, if the EB-5 offering takes place overseas (outside of U.S.), SEC regulation of broker-dealer relationships need not be enforced. Still, it is important that all parties involved in the EB-5 process are aware of all pertinent SEC regulations.

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    Ed Beshara

    Immigration Attorney
    Answered on

    Especially in regard to an EB-5 regional center project attracting a number of foreign national investors, then the securities attorney needs to prepare the offering documents. The owners of the EB-5 project may be U.S. citizens, permanent residents or foreign nationals.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    There are various SEC requirements for the new commercial enterprise (as there is often an offering of membership or partnership interests as part of the investment), that need to be coordinated with experienced securities and corporate attorneys.

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    John J Downey

    Immigration Attorney
    Answered on

    No residency requirement that I know of. SEC questions should be posed to someone with expertise.

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