On Aug 16 2016 by H. Ronald Klasko
Why You Should Attend Our EB-5 Seminar
Here are the top 10 reasons why you should attend our September 9 EB-5 seminar entitled “EB-5 at a Crossroads”:
- The seminar is scheduled days after Congress returns from recess. It is likely that a bill or draft bill will be introduced in early September. By September 9, we will likely have a better idea of the parameters for extension of the program and new legislation, including the likelihood of legislation addressing the issue of China quota numbers. Angel Brunner (EB5 Capital), Chris Marlin (Lennar), Peter Joseph (IIUSA) and Ronnie Fieldstone will be joining me to provide the latest information. All of us have been intimately involved in the legislative process.
- We will have the latest information on the China, Vietnam and India markets. Jerry Chen of EB-5 Market Connect, Ali Jahangiri and I will be reporting on our recently-completed meetings in China. During my trip, I had the opportunity to meet with over 20 agents. In addition, Rohit Kapuria will report on his recently-completed meetings in India, and Anu Nair will report on her meetings in Vietnam. We expect to have several agents from China and Vietnam as part of an interactive panel.
- Ongoing compliance and monitoring of jobs and investor funds are among the hottest topics in the Chinese market and among regional centers and project developers. Regional centers are being held responsible for the success of projects at penalty of termination of the regional center’s license. As a result, regional centers must have systems in place to monitor at all times the flow of the investors’ money from the investor to the escrow to the NCE to the JCE to the project back to the NCE and then through redeployment. In addition, the job creation and construction timelines must be monitored, with deficiencies reported timely. Finally, with the lengthy time in which the investors’ money will be outstanding (possibly up to 10 years), possibilities of material change are far greater. Pre-investment project due diligence is no longer sufficient. Agents are now insisting on ongoing compliance as a precondition to taking on a project. This subject will be discussed at length by Klasko Compliance and Reid Thomas of NES Financial, which together provide projects with the Platinum Medallion evidencing best practices in project compliance.
- USCIS has initiated three new programs as part of its expanded oversight – project site visits; regional center audits; and interviews of I-829 applicants. One of our expert panels will discuss these programs and how best to prepare for the new world of government oversight.
- Some of the country’s top regional centers and developers of EB-5 projects will be presenting on panels and will be available for networking. These include CanAm Enterprises, Golden Gate Global Regional Center, EB-5 Capital, The LCP Group, Lennar Corporation, Chestlen Development and Scannapieco Development, as well as the Philadelphia Industrial Development Corporation, which has sponsored many projects in the Philadelphia area.
- We will discuss in depth the options available for redeployment of the investors’ funds to keep them “at risk” after the initial loan from the NCE to the JCE is paid back. A new solution that will be made available to projects and investors will be presented.
- Regional centers and developers need to develop a policy on acceptance of minors as investors. This has become a very hot topic given the legitimate fear that children who are now ages 16 and 17 are at risk of aging out before the application of the parents results in their obtaining conditional residence. This may be an issue even with children younger than age 16. We will discuss divergent policies of banks and escrow agents on accepting minors as investors. We will also discuss issues that regional centers should consider in developing their policies. Finally, we will discuss how best to structure the transactions to make them non-voidable when the child reaches the age of majority.
- Much has been said about projects using EB-5 money to purchase bonds for infrastructure or other projects. We will provide you the latest experiences and intelligence on this subject.
- There have, unfortunately, been a number of failed and fraudulent projects in the headlines in recent months. Will there be more coming? We will have the latest report.
- Citizenship by investment programs have become a hot topic. For some, these programs may be a supplement to EB-5; for others, they may be a replacement. We will explain this increasingly important subject.
- We will have opportunities over breakfast, lunch and the cocktail reception to network with all of the speakers.
We hope to see you on September 9 in Philadelphia. Register now!