EB5 INVESTORS MAGAZINE EB5INVESTORS . COM 85 ←
Documenting the mock audit is valuable because it provides a clear record that can be kept on file to demonstrate compliance efforts to USCIS auditors . Readily available documentation shows that the Regional Center is committed to maintaining transparency and adhering with the RIA requirements . In the event of an audit , presenting evidence of a thorough mock audit can highlight the center ’ s diligence in identifying and addressing potential issues , which may foster trust and reduce scrutiny during the official audit process .
A Recommendation for USCIS
USCIS ’ s website ’ s Question and Answers ( Q & A ) page provides immense value to EB-5 Regional Center Program stakeholders . However , the agency should consider publishing alerts like the U . S . Securities and Exchange Commission ’ s Risk Alerts , which inform investment advisers and broker-dealers about trends in noncompliance and examination findings . vi Risk alerts would provide EB-5 Regional Centers with valuable insights into common areas of deficiency , helping them proactively address compliance issues before an audit .
These alerts would highlight patterns of noncompliance , regulatory changes , and areas of focus during USCIS audits , enabling Regional Centers to better prepare for audits , maintain high standards of transparency , and reduce the risk of termination . Such guidance would foster a stronger compliance culture within the EB-5 program , benefiting both the centers and investors .
Isabel Alcántara is the founding and principal attorney at Alcantara Law , LLC , specializing in investment adviser compliance , EB-5 visas , and
Regional Center compliance . In 2023 , she received the AILA Washington , D . C .
Chapter ’ s Roberta Freedman Memorial Scholarship . Alcántara is also a licensed Realtor with Keller Williams in Miami , FL , and Arlington , VA , and offers consultations in English and Spanish . Her expertise in EB-5 includes various forms for investors and regional centers .
SOURCES
1
Section 203 ( b )( 5 )( E )( vii ) of the INA .
2
USCIS Announces Information Regarding EB-5 Regional Center Audits , USCIS , at : https :// www . uscis . gov / newsroom / alerts / uscis-announces-information-regarding-eb-5-regional-center-audits .
3
The Yellow Book : Government Auditing Standards , Government Accountability Office , at : https :// www . gao . gov / yellowbook .
ISABEL ALCÁNTARA
4
Stating Compliance with the GAGAS in the audit report , Section 2.22 Yellow Book , Government Accountability Office , at : https :// gaoinnovations . gov / yellowbook / 2024 / stating-compliance-with-gagas-inthe-audit-report . html .
5
EB-5 Regional Centers , USCIS , at : https :// www . uscis . gov / working-in-the-united-states / permanent-workers / employment-based-immigration-fifth-preference-eb-5 / eb-5-immigrant-investor-regional-centers / eb-5- regional-center-audits .
6
Risk Alerts , U . S . Securities and Exchange Commission , at : https :// www . sec . gov / compliance / risk-alerts .
At Burr & Forman , we build successful client relationships by providing comprehensive solutions tailored to each client ’ s specific legal needs . From the EB-5 investor visa program to a broad range of business immigration services including green cards , visas ( H , L , E , TN , and more ) and I-9 compliance issues , our team provides exemplary service to EB-5 regional centers , large and small businesses , and individuals .
1075 Peachtree Street NE , Suite 3000 | Atlanta , GA 30309
No representation is made that the quality of the legal services to be performed is greater than the quality of the legal services performed by other lawyers .
Jennifer Moseley ( 404 ) 685-4322 jmoseley @ burr . com
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