My Dad invested in a regional center 9 years ago, and to this date, we haven’t gotten a green card through EB5. Eventually, he got a green card through another application, and now we want to withdraw from this program. However, our regional center is not responding very well. They are well-established and are still accepting new investors. I understand that we have given them a lot of freedom in our partnership contract. I originally sent them an email a month and a half ago, asking how we could start the redemption process. They responded only once, saying they would review the project and let us know. They took our calls; they received us in their office, but nothing was written other than that one email. Does this happen to every investor who is trying to get their money back? What is the timeline, and do we need to have a lawyer on our side to push for a response?
Answers
Ira Azulay
EB-5 Immigration attorneysThis is going to be governed by the agreements signed. Did you have a lawyer who was helping you apply for EB5?
You will likely end up with a non-immigration lawyer, as this appears to be a securities and contract issue. But I am surprised that they have been so non-responsive as these companies do rely on their reputation. That being said, these are long term investments and carry risk, and its rare that they are just redeemed. Please let me know if you want to chat further. Best wishes.
Lynne Feldman
EB-5 Immigration attorneysDon’t you have written project documents from when he invested?
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