EB5 Investors Magazine Volume 2 Issue 1 | Page 56

Continued from page 53
Alternatively , other countries will aggressively pursue these investors , whose first choice would be to invest in the United States . For example , recently , several countries in the European Union are actively pursuing immigrant investors and facilitating visas within a few months . That ’ s a very attractive alternative to our current 18-month adjudication timeframe and the understandable concern of most potential investors is that , even after this 18-month wait , their petition may be denied , which would require them to start the immigration process to the United States or another country all over again .
“ And it ’ s extraordinary , the opportunity , the know-how and intellectual capital these people bring when they come to our country .”
Independent of the job creation benefits associated with their requisite investment , it is important to recognize that in most instances these investors are incredibly successful entrepreneurs and business people . They are often the best of the best . And it ’ s extraordinary , the opportunity , the know-how and intellectual capital these people bring when they come to our country . If you look at Canada and observe all the direct and indirect benefits it has realized from its immigrant investor program , it ’ s astonishing . For a program to bring these kinds of people here , never mind their EB-5 investment dollars , the richness and potential business opportunities they bring as accomplished individuals , skilled professionals from different cultures and backgrounds , ever ambitious , entrepreneurial , determined — that ’ s incalculable .
Staff : It ’ s the human capital as well , right ?
Rosenfeld : What ’ s the statistic ? One out of every four jobs in this country was developed by an immigrant . The idea that people want to come here and live here is such a great asset for the country , that , forget their $ 500,000 investment – that ’ s miniscule compared to the benefits that this country will realize by their presence here – creating businesses , creating jobs . That always gets overlooked . It is a gift to this country . When you consider that immigrant investors currently only represent 1.3 percent of the annual number of immigrants to the United States , I really do not understand why it is not in the national interest to increase the available number of EB-5 visas . It ’ s such a relatively nominal number of people . I only wish there was a mechanism of determining how much business and how many jobs these people created after they immigrate to this country .
Staff : What advice would you give a new developer who wants to use EB-5 to raise capital ?
Rosenfeld : It ’ s a cliché , but do your homework and don ’ t believe everything you hear . If a developer believes that he can pursue this on his own , I think he should , but , only with the understanding that this is not an easy business . We have been involved with immigrant investor programs for more than 25 years . We know we ’ re in the immigration business , not the development business , and we focus all our time and attention on its complexities . The EB-5 program can be exceptionally rewarding if properly implemented and a very expensive financial and emotional debacle if not . And , quite frankly , my concern is that many immigration attorneys are out there promoting the idea that the EB-5 program is easy and that they can service all your EB-5 needs from regional center submission to securities counsel to even marketing — one stop shopping . That is replete with potential problems . Developers need to understand that EB-5 is a potential minefield that needs to be navigated very carefully . They should talk to more than a couple of people and get different perspectives and read up on the program to make sure it makes sense for them to go at it alone , or through a reputable regional center , or maybe it does not make any sense . Applying a common sense critical mindset is crucial . If pursued wisely and carefully it can be an exceptional source of financing .

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