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The program is placed in a very strange and non-helpful administrative place for the stimulation of global investment in the United States. We are offering away also much for too small of a financial investment.


The regional centers, with their half-million systems, essentially undercut the much more sensible million-dollar component of the EB-5 program. Third, such programs, if we have them in any way, as they perform in Australia, ought to be concerning producing company entities, not easy investments. It needs to have to do with creating genuine jobs, not specify estimations regarding the indirect creation of tasks, which is currently part of the regulations.


Possibly that is one of the reasons that it has actually stopped working year after year to get to the legislative objective of 10,000 investment visas. Fifth, the Regional Facility Program is inherently awkward, and the program is too loaded with intermediaries, both public and private. The program has greater than its share of rumors, which I will certainly enter later if any person is interested.


This is a company that enjoys to say yes to candidates, yet as the table in my testimony shows, USCIS police officers have a lot more problem with EB-5 applications than others. I think that is something that no one has really chatted around much. EB5 Regional Center Program. There are high rates of internal rejections in this program and forever reason

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Seventh, in this program visas most likely to people who could not get them differently and to individuals whose scheduled financial investment is actually less, according to the Federal Book, than the typical mean web worth of all American family members in 2007. Allow me increase on among my monitorings.


My price quote based upon the capitalists' permit applications filed 2 years after the first investment-- these are the strong ones that remain and are accepted. This is 2009-- was that they had concerning $191 million verified-- that is my quote. USCIS does not give the sort of information that we could utilize on this.


For every $100 of increased international financial investment that year, the EB program added one cent. Under a far more shaky analytical base, the preliminary applications of potential immigrant investors, USCIS is telling journalists that the degree of financial investment in the just-concluded year had to do with $1.2 billion. Allow us accept that.

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




Divine worked as Chief Advice of the USA Citizenship and Migration Providers from July 2004 till November 2006, the year in which he was Performing Supervisor, and after that Acting Deputy Director. He has functioned thoroughly with the EB-5 program secretive practice. He was chosen, as I recognize, vice president of the Association to Purchase United States, the national industry association of regional facilities.


Divine, we are thrilled to have you here. Please go in advance, sir. DECLARATION OF ROBERT C. DIVINE, ATTORNEY, BAKER, DONELSON, BEARMAN, CALDWELL, AND BERKOWITZ, P.C., CHATTANOOGA, TENNESSEE, AND VICE HEAD OF STATE, PURCHASE THE USA (IIUSA) Mr. Divine. Thank you, Mr. Chairman, Legislator Grassley, and others. Thank you for having me.


At most, if all 10,000 ports were used, it would certainly be 1 percent of the immigration yearly blog here to the United States. It is not near that yet, yet it is growing and obtaining towards that. Particularly as USCIS, the firm that manages the program, has actually been making the guidelines clearer and the procedures more logical and clear for individuals that are arranging investments and for the capitalists that are spending, more individuals have actually wanted and able to place initiative and cash into the procedure to locate great tasks and establish them, and afterwards a lot more investors have been eager to spend their money and take the risk and utilize the cash to produce the jobs that is the point of the program.

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These tasks do not wait about for life, and USCIS understands that and are attempting to speed the program, speed the process - EB5 Regional Center Program. That does not mean that they are relaxing their analysis, and, in reality, they prepare to refute applications Look At This that are not certifying. And they do so, as was discussed


The regional facility part of the program is not. It becomes part of an appropriations bill that was enacted in 1992, and ever since that program has actually been extended 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 day of expiration in September.


The procedure takes a great while to work up a task and then to get the investors accepted. And they do not want their money moving through till they have been accepted. And the specter of the expiration of this Regional Facility Program in September is currently dissuading the advancement of jobs.

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I wish to clarify 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 function of the routine EB-5 legislation that is component of the code. It simply is a fact that the majority of the regional centers that are pooling financial investments have actually established those instead of high joblessness sites or in backwoods where fifty percent- million-dollar financial investments are enabled, and that makes feeling.