What kind of attorney do I need to create an EB-5 Regional Center?
I am looking to raise funds for a few surgery centers in the states of TX, NV and AZ via the EB-5 program. I am looking to hire an attorney to create the regional center and help me set this up. Do I go to an immigration attorney or securities attorney first? Can you refer me to a name of established group that assists with this?
To establish a Regional Center you will need both an EB-5 experienced corporate securities attorney as well as EB-5 experienced immigration attorney. When consulting with both or either, they should also advise you to consult with an economist as one of the first steps to determine how the EB-5 program will meet your goals.
You can go to either an immigration attorney or a securities attorney first, however you will need both of them on your EB-5 team in order to launch an EB-5 Offering with minimal liability to you or your company. You will also need an economist on your team, so you can find out how much job creation there is in your project, which will give you a sense of how much you can raise via EB-5. Feel free to contact me if you want referrals to immigration attorneys and EB-5 economists.
It is best to retain the immigration attorney first because the immigration attorney orchestrates the entire project. The immigration attorney can then bring in competent securities counsel to work on the project.
An experienced immigration attorney is recommended. The immigration attorney will often direct you to the appropriate securities firm. I can certainly recommend this firm. We have considerable expertise and experience.
A law firm who has attorneys dealing with immigration, security laws, and corporations.
You will need both the immigration and the securities lawyers'' assistance.
You definitely need an immigration attorney since this is an EB5 regional center. Immigration attorney can tell you the basic requirements and then you can retain a securities attorney. Many of us on this website do this kind of work.
You will generally need a team consisting of an immigration attorney, securities attorney, and business/transactional attorney. Our firm will be happy to assist you. Please do no not hesitate to contact us should you have any questions.
You''ll actually need a team of professionals, including economists, business plan writers, etc. A good immigration attorney is probably your best bet to quarterback the process, but a qualified corporate and securities attorney (as opposed to only securities, but not corporate) should be able to lead the process as well. For regional center setup, there are relatively few immigration attorneys and corporate/securities attorney that have deep experience. The key is to carefully vet out service providers until you find one that can really show knowledge and experience in the space. That person will generally be able to refer you to all your other team members.
The best recommendation is to assemble a team which includes an immigration attorney, securities attorney, economists, etc. to create the Regional Center. Also, I would recommend to look at maybe joining an existing Regional Center since the processing at USCIS of a new Regional Center is taking over 9 months. If you have any other questions, please do not hesitate to contact me.
Philip H Teplen
In order to create a Regional center that qualifies for EB-5 you should have an attorney that is both thoroughly versed in immigration law and likewise understands business securities. There are times that a team of lawyers are also beneficial. I will be happy to discuss with you.
You need both as long as you want to make money however immigration attorney is the first line of business that you want to create; building a base for immigrant visa application via Regional center. How good your immigration attorney is will make the Regional Center plan succeed or fail. If Regional Center?s based projects do not create successful visa applications and removal of conditions then you will have no investors. Securities compliance issues in Regional Center planning is not a major problem that you need to tackle. International tax advisor is the second specialist after immigration attorney that I would be looking to work with. Good luck
While the selection of an immigration attorney as an important component of the creation of a regional center, today it is essential to ensure that the attorney has extensive EB five experience. That attorney must be able to harness all the experts who will be necessary for the successful creation of the regional center. It is best to obtain no less than three referrals from persons involved in the EB five community. Good luck!
My recommendation is an attorney that has done and is fully familiar with both EB-5 program and he, himself, has created new businesses. Creating a new Regional Center is very much like creating a new venture, a new start-up company, and the attorney must have done exactly that. I would also ask the attorney if he has a degree in Business. How can an attorney that studied Psychology or history create a new business venture.
You need an immigration attorney who specializes in EB-5 and who has prepared and filed regional center applications. You may be able to use an existing regional center to host your surgery center projects in those states.
You need 2 attorneys. An immigration attorney and a securities attorney.
Today you have attorneys specializing in EB5 RC work, while some atoorneys choose to use multiple attorneys for the different areas, it is highly recommended you utilize an RC attorney. I would happy to assist you and answer your questions. We have over a dozen RC''s approved with several pending. We are a full service firm and would take care of all your RC needs.
Normally, you would go to an immigration attorney that structures RCs. At the same time, it may be best to simply request an existing center to adopt your project in the areas you desire and/or to raise the funds for you. My firm establishes RCs and could assist you.
I would suggest looking for an immigration attorney who works on EB-5 regional centers. Not all immigration attorneys do EB-5 visas and not all EB-5 immigration attorneys set up regional centers. Most attorneys who create or work on EB-5 regional centers say so in their profiles. On the www.eb5investors.com website, attorneys who work on regional centers specify "regional center representation" under their areas of experience.
Secondly, an EB-5 RC immigration attorney usually has a team they work with of the other professionals needed to set up a regional center, such as a securities attorney, economist, and others. If you find the right EB-5 RC attorney, he/she will introduce you to a reliable team.
You will need both an immigration attorney and a securities attorney, although you probably want to consult with an immigration attorney first to see if your plans are feasible. You do not need to start drafting offering documents and forming corporate entities until after you know you are going to proceed. My recommended order would be immigration attorney, followed very shortly by an economist, then a securities attorney and business plan writer. The immigration attorney and economist are going to advise on threshold issues to make sure you have a workable concept before you go forward.
I''ve done transaction work in Asia for years before returning to the States to do immigration and, mostly, investor visa work. Your project will need an immigration attorney and at least advisement from a securities attorney. You will be required to prepare a Private Placement Memorandum that conforms with current security regulations and requirements. You will also submit documents to USCIS to get Regional Center designation that draws on employment and economic information as well as the scope and terms of the projects you will complete via the foreign investors. Feel free to contact directly as you need.
If you proceed with establishing a regional center, you will need immigration counsel, securities counsel, business counsel, and a business plan writer, all of whom have considerable experience with the EB-5 program. We would recommend that you begin with a highly experienced EB-5 immigration attorney, who should be able to assist you with evaluating whether the EB-5 program is an appropriate means of achieving your goals. Experienced EB-5 immigration counsel will have established networks of attorneys and consultants that can assist with all of the various aspects of setting up a regional center or developing a successful EB-5 funded project.
Usually an immigration lawyer quarterbacks the 924 application drafting (and filing) process ? which is also the lion?s share of the work (and cost). Other contributing attorneys are the securities lawyer (either a large player, if putting together a shovel-ready project to accompany the 924 filing, or a small player, if generating sample offering documents for a hypothetical project), the corporate lawyer (to form the limited liability company or corporation typically ? and most advisedly ? used as the regional center entity, and as the other parties to the structure of a shovel-ready), and the transactional attorney (to draft the transactional documents that will accompany either a shovel-ready or hypothetical project, including loan agreements, promissory notes, equity purchase agreements, regional center sponsorship agreements, overseas broker investor procurement agreements, marketing agreements, etc.). One may engage individual lawyers and firms for each of these legal ?pieces,? or find a firm with expertise in all areas since the cost is usually less than piecing out the work. (As as example, my firm of business lawyers handles all of these legal parts, including securities, corporate, and transactional, other than the immigration.) There are a fair number of attorneys practicing in the EB-5 industry with good experience, and solid track records of success, and a quick inquiry will rapidly produce names. A great place to start is with the practitioners who are active with this site, and whose contact information is readily available.
There are several key elements in a regional center I-924 petition, and expertise is required in multiple areas of law, immigration, securities, business and possibly sanctions. Immigration attorneys with experience in setting up regional centers can connect these areas of legal expertise with economists and business plan writers to deliver a finished product. First and foremost you should speak with an immigration attorney experienced in these matters before any other professionals are involved.