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The program is put in a very odd and non-helpful administrative location for the excitement of global investment in the United States. We are providing away as well much for as well little of an investment.


The regional facilities, with their half-million systems, essentially undercut the much more reasonable million-dollar part of the EB-5 program. Third, such programs, if we have them at all, as they perform in Australia, need to be about developing company entities, not easy financial investments. It must have to do with developing real tasks, not clarify calculations regarding the indirect development of tasks, which is currently part of the legislation.


Perhaps that is among the reasons it has actually fallen short year after year to get to the legislative goal of 10,000 financial investment visas. Fifth, the Regional Facility Program is inherently clumsy, and the program is too loaded with intermediaries, both public and exclusive. The program has more than its share of rumors, which I will enter later on if anybody is interested.


This is a company that enjoys to claim yes to applicants, yet as the table in my testimony reveals, USCIS police officers have a lot more difficulty with EB-5 applications than others. I think that is something that nobody has actually actually spoken about a lot. EB5 Regional Center Program. There are high prices of interior rejections in this program and forever reason

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Seventh, in this program visas most likely to people that can not obtain them otherwise and to people whose organized investment is in fact less, according to the Federal Book, than the average mean web well worth of all American households in 2007. Allow me expand on among my observations.


My estimate based on the investors' permit applications submitted 2 years after the initial investment-- these are the strong ones that stay and are accepted. This is 2009-- was that they had regarding $191 million confirmed-- that is my quote. USCIS does not offer the sort of data that we can utilize on this.


For every $100 of boosted international financial investment that year, the EB program contributed one dime. Under a much extra shaky statistical base, the preliminary applications of prospective immigrant capitalists, USCIS is telling journalists that the level of investment in the just-concluded year had to do with $1.2 billion. Allow us approve that.

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Thank you for listening to me. Chairman Leahy. He is the head of the firm's immigration technique team.




Divine functioned as Principal Advise of the USA Citizenship and Immigration Solutions from July 2004 EB5 Regional Center Program up until November 2006, the year in which he was Acting Director, and after that Acting Replacement Director. He has functioned extensively with the EB-5 program in exclusive method. He was elected, as I recognize, vice head of state of the Organization to Buy United States, the national sector association of local facilities.


DECLARATION OF ROBERT C. DIVINE, ATTORNEY, BAKER, DONELSON, BEARMAN, CALDWELL, AND BERKOWITZ, P.C., CHATTANOOGA, TENNESSEE, AND VICE PRESIDENT, INVEST IN THE United States (IIUSA) Mr. Divine. Thank you, Mr. Chairman, Senator Grassley, and others.


At the majority of, if all 10,000 ports were utilized, it would certainly be 1 percent of the immigration every year to the United States. It is not near that yet, yet it is growing and getting toward that. Especially as USCIS, the agency that supervises the program, has actually been making the rules clearer and the processes a lot more logical and clear for the individuals that are organizing investments and for the financiers who are spending, more people have actually agreed and able to put initiative and money right into the procedure to locate excellent projects and establish them, and afterwards extra investors have agreed to spend their money and take the danger and make use of the cash to develop the jobs that is the point of the program.

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These jobs do not wait around forever, and USCIS comprehends that and are trying to speed up the program, speed up the process - EB5 Regional Center Program. That does not indicate that they are unwinding their analysis, and, actually, they are ready to refute applications that are not qualifying. And they do so, as was discussed


The local center part of the program is not. It is part of an appropriations costs that was established in 1992, and considering Click Here that then that program has actually been expanded 5 times for 19 years. It is time for it to be long-term, and it requires to be done now and not nearer to the date of expiry in September.


The process takes a good while to develop a task Continued and after that to obtain the investors accepted. And they do not desire their cash streaming with up until they have actually been accepted. And the specter of the expiration of this Regional Center Program in September is already discouraging the development of projects.

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I want to make clear that the Regional Facility Program is not the like the half-million-dollar point. The concept of half a million or a million is a feature of the regular EB-5 regulation that becomes part of the code. It simply is a fact that many of the regional facilities that are pooling investments have established those instead of high unemployment or in backwoods where fifty percent- million-dollar financial investments are allowed, which makes sense.