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The program is put in an extremely strange and non-helpful administrative location for the stimulation of worldwide financial investment in the United States. We are providing away too much for as well tiny of an investment.


The local facilities, with their half-million schemes, basically undercut the extra practical million-dollar component of the EB-5 program. Third, such programs, if we have them in all, as they carry out in Australia, should have to do with producing organization entities, not passive investments. It needs to have to do with developing genuine tasks, not clarify calculations concerning the indirect development of jobs, which is now component of the legislation.


Maybe that is just one of the reasons that it has stopped working year after year to reach the legislative objective of 10,000 investment visas. Fifth, the Regional Facility Program is naturally clumsy, and the program is too loaded with middlemen, both public and exclusive. The program has greater than its share of scandals, which I will get involved in later on if anybody is interested.


This is an agency that enjoys to state yes to candidates, but as the table in my testimony reveals, USCIS officers have far more problem with EB-5 applications than others. I believe that is something that no one has actually discussed 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 go to people who might not get them any kind of various other way and to people whose planned financial investment is really much less, according to the Federal Book, than the typical mean total assets of all American family members in 2007. Let me broaden on among my monitorings.


My price quote based on the capitalists' permit applications submitted 2 years after the first financial investment-- these are the solid ones that remain and are accepted. This is 2009-- was that they had regarding $191 million confirmed-- that is my price quote. USCIS does not supply the kind of information that we might utilize on this.


For every $100 of boosted international financial investment that year, the EB program added one penny. Under a a lot more shaky analytical base, the preliminary applications of would-be immigrant investors, USCIS is telling journalists that the degree of financial investment in the just-concluded year was concerning $1.2 billion. Let us approve that.

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




Divine acted as Chief Advice of the United States Citizenship and Immigration Services from July 2004 until November 2006, the year in which he was Acting Supervisor, and afterwards Acting Replacement Director. He has functioned extensively with the EB-5 program in private technique. He was elected, as I recognize, vice head of state of the Association to Spend in USA, the national sector association of local facilities.


Divine, we are pleased to have you read what he said right here. Please go on, sir. DECLARATION OF ROBERT C. DIVINE, LAWYER, BAKER, DONELSON, BEARMAN, CALDWELL, AND BERKOWITZ, P.C., CHATTANOOGA, TENNESSEE, AND VICE HEAD OF STATE, PURCHASE THE United States (IIUSA) Mr. Divine. Thanks, Mr. Chairman, Legislator Grassley, and others. Thank you for having me.


At many, if all 10,000 slots were used, it would certainly be 1 percent of the immigration annually to the United States. It is not near that yet, but it is growing and obtaining towards that. Particularly visit this site right here as USCIS, the company that looks after the program, has actually been making the regulations more clear and the procedures more logical and clear for the people who are organizing investments and for the financiers who are investing, more people have actually been eager and able to place effort and cash into the procedure to locate good jobs and develop them, and after that a lot more financiers have actually agreed to spend their cash and take the threat and utilize the cash to create the work that is the factor of the program.

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These projects do not linger permanently, and USCIS understands that and are attempting to speed the program, speed up the process - EB5 Regional Center Program. That does not imply that they are relaxing their scrutiny, and, as a matter of fact, they prepare to reject applications that are not qualifying. And they do so, as was pointed out


The regional center component of the program is not. It is part of an appropriations costs that was passed in 1992, and ever since that program has been extended five 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 expiry in September.


The procedure takes a good while to work up a job and after that Continued to obtain the financiers approved. And they do not want their money moving via until they have been approved. And the specter of the expiration of this Regional Facility Program in September is already dissuading the advancement of tasks.

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I would such as to make clear that the Regional Center Program is not the exact same as the half-million-dollar thing. The concept of half a million or a million is a function of the regular EB-5 regulation that belongs to the code. It simply is a truth that a lot of the local centers that are merging financial investments have established those instead of high unemployment or in backwoods where fifty percent- million-dollar financial investments are allowed, which makes good sense.