EB-5 Investment
Advisers:
by Eric Yao
An Emerging Model That May Benefit
Investors, Immigration Attorneys,
Regional Centers, and the Industry
Who Is an EB-5 Investment Adviser?
A Registered Investment Adviser (“RIA”) specializing in EB-5
makes investment recommendations or conducts due diligence
for an EB-5 investor in return for a fee. The RIA works
directly with and for the investor, and is a third-party outside
of the EB-5 distribution channel that is compensated by the
issuer. An RIA registers with SEC or state securities authorities
and is subject to various ongoing compliance obligations.
The Investment Adviser Model
In connection with most EB-5 investments, an EB-5 investor
completes the investment process with the help of an EB-5
capital intermediary such as an overseas migration agency or a
domestic broker-dealer. These intermediaries sign finder’s fee
agreements with the regional center or EB-5 fund (NCE).
Some investors are, however, more concerned about recent
EB-5 fraud cases and are looking for advice from a more
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