Q & A Reid Thomas :
Why it ’ s important to check the safety of the bank your EB-5 project is using
Reid Thomas highlights the importance of deposit management in improving the security of EB-5 funds to enhance investor safety .
RReid Thomas , the Chief Strategy Officer ( CSO ) at Ampersand Incorporated , a U . S . financial services firm , explains the crucial role that bank deposit management plays in the pre-application process for EB-5 investors seeking a green card .
As a firm supporter of the EB-5 visa program and the Reform and Integrity Act of 2022 ( RIA ), Thomas emphasizes the importance of investors understanding what happens to their funds once they are wired to a U . S . bank to be invested in an EB-5 project .
" Many investors may not be familiar with the bank they send their money to . Therefore , they should learn more about the process and the institutions involved ," he says .
His dedication to legal immigration in the U . S . is deeply rooted in his own experience as an immigrant from Canada to the United States .
" I don ' t have a hard-luck story like many others but I came to the U . S . as an EB-1C visa holder , being part of the executive transfer visa category under the NAFTA free trade agreement between Canada and the U . S .,” he said . “ However , I share the dreams and aspirations that many U . S . immigrants and investors
By Staff
have . I firmly believe in legal immigration and view the EB-5 program as a great opportunity . My passion lies in helping EB-5 investors successfully obtain their green cards , create jobs , and contribute to the growth of this country . I believe in legal immigration and that the EB-5 program should be expanded ."
That ' s why Thomas emphasizes the critical role that Ampersand and other deposit management providers have in ensuring fund safety for EB-5 .
" We approach EB-5 banking by helping banks feel confident in accepting EB-5 deposits , which , in turn , protects EB-5 investors ."
What must EB-5 investors understand about how their funds are managed when investing in this visa ?
EB-5 investors should pay attention to the banking system in the United States because it is very different from how banks work in their home countries . Most countries have relatively few banks . When you compare it to the U . S ., most of those banks are state- or government-controlled institutions . However , there are no state-controlled or government-owned banks in the U . S . The government regulates how it operates and dictates procedures and standards to ensure that depositors
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