I have been reading and have found that the start-up costs for an EB-5 Regional Center are between $75,000 - $175,000. I have a great concept for a project for a regional center and have some possible EB-5 investors lined up, but unfortunately I do not have the amount of capital that is needed to form a regional center. I have approximately $15,000 and am looking for a law firm that would work on contingency or on a deferred payment basis. If you can refer me to someone it would be highly appreciated. Thanks.
Your best plan may be to contact an existing regional center in your area that is willing to accept your project. Once accepted, the regional center may assist you in planning, marketing and other aspects that will help you reduce cost. You may also solicit foreign direct investors who are willing to invest in the project.
I would recommend that you pitch your concept to established regional centers in your geographical area. Centers are always looking for great projects.
Hi, I appreciate your situation. The problem is the amount of money have would not cover costs even if I were to defer or reduce my fees. You have to consider the business plan writer and an economic study to show indirect and induced job creation. How much money are you looking to raise, would you be able to do it as a direct EB-5 project?
It would be difficult to find an attorney with EB-5 experience and expertise willing to work on a contingency for setting up a regional center. Even if the regional center is approved, there are no fees or income generated directly from that event. Furthermore, attorneys should not get involved in receiving commission payments or a portion of the administrative fees from incoming EB-5 investors (so it is not clear how the attorney would get paid on a contingency). You could contact an existing EB-5 regional center and try to work with them; this would allow you to use their infrastructure and USCIS designation, while your great concept gets put into practice. The downside is that you will have to share profits with the regional center, but that might be the only way that your deal gets done.
I don''t know any law firm that will work on a contingency basis but often times people do not need a regional center but can do the project as a stand alone EB-5.
Your estimates for start-up costs for a new regional center are accurate, and there is really no way around paying the necessary professionals for their very important and necessary work (business planners, economists, immigration attorneys, etc.). However, if you are willing to take the project to an existing regional center, some regional centers may assist you with these costs to prepare the documentation and even provide the investors.
