Keeping Northern Nevada’s Economy on Track

With the United State Citizenship and Immigration Services (USCIS) EB-5 Program set to expire in September of this year, supporters are working diligently to ensure the future of the program. In January of 2015, Nevada Congressman, Mark Amodei and Colorado Congressman, Jared Polis, introduced legislation to make the EB-5 program permanent allowing for job creation through foreign capital investment. In efforts to help solidify the EB-5 Program’s future, Invest In the USA (IIUSA®), is holding an EB-5 Regional Economic Development and Advocacy Conference on April 12th thru 14th, 2015 in Washington D.C. with over 500+ scheduled to attend including: Michael Chartoff, former Secretary of Homeland Security; Honorable Senator Ron Johnson (R-WI)-Chairman of Homeland Security; Honorable Congressmen Darrell Issa (R-CA, 49th District)-Chair of House Subcommittee on Courts, Intellectual Property, and the Internet: Member, House Judiciary Committee, and many more nationally recognized financial, legal and immigration experts.

Lynn Beteag, Administrator, of the Nevada State EB-5 Regional Center (NVEB-5) will represent Northern Nevada at the Washington D.C. conference. NVEB-5 is focused on providing a means for financially sound, viable and secure job creating project opportunities, which fully satisfy all the requirements for investors to obtain their Green Cards, to navigate the EB-5 Program. The United States EB-5 Immigrant Investor Program (EB-5) is administered and overseen by the (USCIS).

“I am looking forward to attending the IIUSA Conference to not only show my support for this outstanding program but also to learn about USCIS policy and visa updates. The EB-5 Program is a powerful tool for keeping Northern Nevada’s economy on track by providing companies and project/developers of “at risk” projects with a means of acquiring additional capital that works as a compliment to the traditional capital stack.” said Ms. Beteag.

To learn more about EB-5 Regional Center advocacy, please visit: IIUSA.org (link to: http://advocacy.iiusa.org/)

Obtaining a Visa-The Numbers Game

Immigrants seeking legal entry into the United States are often overwhelmed with what appears to be an overly complicated visa allocation system. In fact, numerical caps are set by Congress and limit the number of foreign nationals that may obtain immigrant visas annually and are divided into 5 distinct categories of employment based green card categories. These are set by Congress to 140,000 immigrant visas (green cards) per year total for all 5 categories. Further, the EB-5 Program is limited to 10,000.

Greenberg Traurig’s recent article, What Every Chinese EB-5 Applicant and Agent Need to Know about Retrogression, explains the process in more detail below.

Each month, the Department of State (DOS) issues a visa bulletin which contains information regarding the availability of immigrant visas. The availability of immigrant visas is subject to numerical caps imposed by Congress, which limit how many foreign nationals may obtain immigrant visas each year. In the employment based green card category Congress allots 140,000 immigrant visas (green cards) to be issued annually. The employment-based categories are subdivided into five preference categories:

Curated from What Every Chinese EB-5 Applicant and Agent Need to Know About Retrogression | EB-5 Insights

 

 

The Benefits of the EB-5 Program

In January of 2015, Nevada Congressman, Mark Amodei and Colorado Congressman, Jared Polis, introduced legislation to make the EB-5 program permanent and allow for job creation through foreign capital investment. With the program set to expire in September of this year, the congressmen recognized the tremendous economic benefit and opportunity that the EB-5 program (or immigrant investor category) has to our nation’s future. Additionally, the bill titled American Entrepreneurship and Investment Act of 2015, would address Target Employment Areas, transparency and streamline the program’s processing times.

While the program has experienced some opposition, the often sited downfalls of the program are erroneous. In order to properly educate the public and participants about the program, the Nevada State EB-5 Regional Center has compiled the following fact cards:

Fact 1

The EB-5 program is a highly regulated employment-based permanent residence application that takes years to complete. The initial application requires detailed proof of investment in a qualified project. It also requires evidence of an investment of either $1,000,000 USD or $500,000 USD and the creation of 10 jobs for U.S. workers. Moreover, EB-5 applicants go through a rigorous vetting process to demonstrate that their source(s) of funds is(are) lawful and that those funds can legally be invested into qualified projects.

An investor can NOT simply purchase entry into the United States. In fact, every investor is carefully screened and must meet a lengthy list of requirements. If, and only if, approved the investor is issued a “conditional green card.” The same in-depth review of the project and the investor’s background is conducted two years after the conditional status is granted to ensure the individual eligibility for the EB-5 immigrant investor category is intact.

Fact 2

All employment-based immigrant applicants undergo detailed and extensive background checks that are conducted by multiple government agencies in efforts to ensure full and legal compliance with the EB-5 Program. The first steps are done through the U.S. Department of Homeland Security (DHS)/U.S. Citizenship and Immigration Services (USCIS) or the U.S. Department of State (DOS), or both. Beyond this, investors are subjected to fingerprinting, fund verification, security checks to identify any criminal, fraudulent activities and/or improper use of “sensitive technology,” and many other processes to identify possible illegal activities before being given a “conditional green card.”

Fact 3

In addition to the investment requirements and stringent screening processes, the total number of investors gaining legal entry and immigration must comply with the annual limit of 10,000 set by the USCIS. This set number of EB-5 (employment-based immigrant categories) visas does not allow participants to jump ahead of traditional applicants.

Fact 4

All EB-5 securities offerings are treated as traditional securities offerings. There are no EB-5 program-specific exemptions to U.S. or state securities laws. Whether you are selling a limited liability company or limited partnership interests to raise equity for a local investment, all state and federal securities laws apply and the persons responsible for preparing the documentation, including the Private Placement Memorandum (PPM), should take reasonable steps to confirm that the information included is completely accurate and does not misstate or omit facts that would be considered material to an investor’s decision to invest.

Federal and state securities laws require the issuer of securities to provide prospective investors with full, fair, and complete disclosure of all “material” facts about the offering, the issuer of the securities, and the issuer’s management personnel, business, operations, and finances. Each investment opportunity may be dependent on various securities laws including: (i) the Securities Act of 1933, as amended, and state “blue sky” laws regarding the offer and sale of securities; (ii) the Investment Company Act of 1940, as amended; and (iii) the Investment Advisers Act of 1940, as amended, and state equivalents.

Fact 5

Unlicensed brokers and finders and other introducers of foreign capital investment are regulated by the EB-5 Program and the securities laws. Entities raising capital from investors seeking a visa under the EB-5 program should consult with legal counsel to ensure that they are complying with all applicable securities laws.   These entities must also comply with relevant foreign securities laws and should evaluate whether introducers of capital (commonly referred to as “finders” or “broker-dealers”) must comply with the broker-dealer registration requirements of the Securities Exchange Act of 1934.

Fact 6

The EB-5 Program works diligently to prevent fraud within the program and uphold our nation’s security efforts. Both the U.S. Department of Homeland Security (DHS) and the U.S. Department of State (DOS) have a variety of resources, the delegated authority, and the regulations in place to monitor, review, and investigate any potential criminal or fraudulent activity that might be perpetrated by an EB-5 investor. Likewise, the SEC along with the Federal Bureau of Investigation (FBI) and the DHS, have existing tools in place to deal with fraud, criminal activities, and security threats that may be perpetrated by investors, entities that offer investments, and Regional Centers.

In summary…the simple facts about the investors participating in the Nevada State EB-5 Regional Center:

  1. Investment of either $1,000,000 USD or $500,000 USD and the creation of a minimum of 10 U.S. based jobs.
  2. Proof of lawful investment.
  3. Stringent background check: Multiple government agencies participate in the background check, investment verification and more.
  4. Currently, the USCIS grants 10,000 visas a year and the immigrant entry is not to exceed 10,000.
  5. EB-5 investment opportunities must follow traditional securities laws and processes.
  6. Brokers, finders and broker-dealers must comply with various securities laws.
  7. Preventing fraud and upholding national security is paramount.

For more information about becoming an approved project/company developer or foreign capital investor, contact the NVEB-5 Regional Center at:

Toll Free: 855.498.6360

Email: admin@nveb5.org

 

The Company/Project Developer Process Timeline

The process to becoming an EB-5 approved company/project is less complicated than one might think. Additionally,  an NVEB-5 approved project can profit from the many benefits compared to the, ever-evolving and economic challenges associated with traditional capital procurement. Participating companies/projects obtain foreign capital contributions  which are identified, scrutinized and provided through strictly-managed USCIS processes. Only projects that meet stringent requirements, whether existing businesses looking to expand or new ventures—-will be accepted for participation.

Follow the simple 10 step process below to see if your company/project would benefit from participating in the Nevada State EB-5 Regional Center program. Should you have questions about becoming an approved company/project, please contact the NVEB-5 at: 855.498.6360.

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Choosing Your EB-5 Regional Center

Choosing Your EB-5 Regional Center

What companies/project developers should consider when choosing an EB-5 Regional Center for financing a project.

While benefits of becoming an approved project under the EB-5 Program are vast, navigating the EB-5 system can often become overwhelming and time consuming. The Nevada State EB-5 Regional Center (NVEB-5) offers participating projects with many benefits not offered by typical centers throughout the country. The highly skilled, professional and friendly staff of the NVEB-5 Regional Center is principally focused on growth of both existing businesses and new business ventures through foreign capital investment.

The Nevada State EB-5 Regional Center (NVEB-5) is unique in that it is a blend of a non-profit and an approved U.S. Citizenship and Immigration Services (USCIS) organization utilizing industry proven processes and procedures. In fact, NVEB-5 is one of only two non-profit regional centers in the country. This status provides peace of mind in knowing that the viability of the project, local job creation and return for the foreign capital investor is first and foremost.

NVEB-5 does not own or have any direct economic or other related self-interest or connection with a project. Rather, NVEB-5 is focused on providing a means for financially sound, viable and secure job creating project opportunities which fully satisfy all the requirements for investors to obtain their Green Cards through the United States EB-5 Immigrant Investor Program which is administered and overseen by USCIS.

In today’s ever changing economic landscape, participation in the NVEB-5 can be a positive option for businesses looking to secure the funding to expand or new ventures looking to start up.
Some of the many benefits of the Nevada State EB-5 Regional Center include:

1. NVEB-5 Is a non-profit organization

NVEB-5 Regional Center is one of only two non-profit EB-5 Centers in the United States. Uniquely, as a non-profit, the mission of NVEB-5 is to create viable and sustainable job creating business opportunities for the area and to reinvest revenues and profits into the region in the form of business startup funding, career skill building and business development programs.

2. USCIS Certified

In September 2010, NVEB-5 was founded through a partnership between Northern Nevada Development Authority (NNDA) and Hop & Mae Adams Foundation (HMAF). They focused on developing a solution for one of the key challenges facing economic recovery and economic diversity—the ability to secure capital funding. This was achieved in July of 2013 with certification from USCIS.

3. IIUSA ® Member

The Nevada State EB-5 Regional Center is a member of Invest In the USA (IIUSA ®), a national based not-for-profit industry trade association for the EB-5 Regional Center Program. The IIUSA promotes policies that focus on advocacy, industry development and education for the EB-5 program, its over 220+ Regional Center members and 200+ Associate members.

4. Professional and Expert Coordination

The NVEB-5 Regional Center coordinates all communication with EB-5 investors, agents, services providers, and the USCIS. Our staff is knowledgeable, helpful and friendly. We are here to help the investor have a positive experience.

5. Business Professionals and New Markets

Many EB-5 investors are successful business professionals that can bring to the company/project developer not only their experience conducting business in international markets, but also their international network of other business professionals. The structure encourages a win-win outcome for both the business and its investors with the important added benefit to the community of increased job creation.

For additional information about this outstanding program and how to become an approved EB-5 project, please contact the Nevada State EB-5 Regional Center:

Admin@NVEB5.org

Toll free: 855.498.6360

NVEB-5-Providing Outstanding Professionalism, Integrity and Ethics

The Nevada State EB-5 Regional Center (NVEB-5) is a unique blend of a non-profit and an approved U.S. Citizenship and Immigration Services (USCIS) organization utilizing industry proven processes and procedures.

In efforts to ensure that the NVEB-5 provides projects and investors with the highest level professionalism, integrity and ethics, the program is a participating member of
Invest In the USA (IIUSA ®), a national based not-for-profit industry trade association for the EB-5 Regional Center Program. The IIUSA promotes policies that focus on advocacy, industry development and education for the EB-5 program and its members.

All members of the IIUSA must adhere to the organizations approved Best Practices, Code of Ethics and Standards of Professional Conduct.

Understanding the importance of these requirements, The Nevada State EB-5 Regional Center works diligently to uphold all of the predicated prudent and ethical practices developed by the IIUSA. Through this strict adherence, the Nevada State EB-5 NVEB-5 works to simultaneously protect individual personal capital investment, economic benefits of capital formation, local job creation and provide the opportunity of legal entry and, ultimately, US citizenship for the foreign investor.

To read the IIUSA ® Code of Ethics and Standards of Professional Conduct in its entirety, please visit: IIUSA ®

For additional information about this outstanding program, please contact the Nevada State EB-5 Regional Center:

Admin@NVEB5.org

Toll free: 855.498.6360

Growing Northern Nevada

KRVN MyNews4.com

The Economic Forum held last week in Reno drew more coverage on KRVN News 4. The forum focused on growing the economy through capital investment. See the highlight reel below:

CARSON CITY, Nev. (MyNews4.com & KRNV) — In its ongoing campaign to educate area real estate agents and community members on the changing economic environment in Northern Nevada, the Reno Tahoe International Council (RTIC) will be holding an Economic Forum on February 12.

 

Curated from Growing N. Nevada globally through foreign capital investment – My News 4 – KRNV, Reno, NV

 

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Economic Forum–Local Investments Turn More International

The Economic Forum held February 12, 2015 provided area real estate agents and community members with information about the future of international participation in our local economy. See full story from News 2 and video clip below.

They say you can already see how it’s paying off at the Tahoe-Reno Industrial Center. Tony Lyerly of the Reno Tahoe International Council told us, “There’s a lot of companies there that are global, and we’re hoping we can attract more people to come in.” And he’s sure northern Nevada has the goods to attract global investment. As he out it, “Basically right now, is our tax structure. You know that is very business friendly.”

And that’s why an event was held at the Atlantis today (Thursday) for the first time in Reno…participants see a lot of economic possibilities (money) from across the seas from investors bringing their money here. More from other countries would give another jolt to our economy. As the group’s director Jeni Temen told us, “It is important, so we started Reno-Tahoe International Council about a year and a half ago.”

Jeni knows…she spent her life in Europe before making her way to the U.S. almost 30 years ago. She knows others, bringing in outside money, can make a huge difference here. She started this organization to do just that: “I’d like to see more international people and their money here all the time, of course.”

For the foreign investor, there’s already a huge draw to do that. It’s called the EB-5 program. It awards a visa to foreigners who invest at least $500,000 in the U.S. The program’s local administrator Lynn Beteag told us, “For the foreign investor, they can obtain their green card. But the real benefit to our region is creating jobs.”

Beteag says it’s already paying off. She says expect to see more Chinese nationals and their money in the U.S. “There’s 10,000 visas that are allotted each year by the government, and China takes up about 8,000 of them a year.”

 

Curated from Local Investment Turns More International – KTVN Channel 2 – Reno Tahoe News Weather, Video –

 

 

 

Reno Tahoe International Council – Economic Forum

Lynn Beteag, Administrator for the Nevada State EB-5 Regional Center, will be speaking at the upcoming Reno Tahoe International Council’s Economic Forum. The event will be held on February 12th, 2015 at the Atlantis Casino in Reno, Nevada. The forum will highlight area economic development, the impact of business on Northern Nevada and the local housing industry, and growing business through foreign capital investment.

Also, scheduled to present are:

Governor’s Office on Economic Development
Northern Nevada Development Authority
Nevada Housing Division
University of Nevada, Reno
Builders Association of Western Nevada
Nevada State EB-5 Regional Center
Global Cultural Navigators
The Reno Tahoe Airport Authority
Comstock Mining
City of Reno City of Sparks
Builders Association of Northern Nevada
Tesla

To read the full press release dated February 5th, 2015, click here.

Legislation to Permanently Authorize EB-5 Program on January 28, 2015 –

Understanding the economic benefit and opportunity that the EB-5 program has to our nation’s future, Nevada Congressman, Mark Amodei and Colorado Congressman, Jared Polis, have introduced legislation to make the program permanent and allow for job creation through foreign capital investment. Additionally, the bill titled American Entrepreneurship and Investment Act of 2015, would address Target Employment Areas, transparency and streamline processing times.

Read the complete article below.

For more information about the EB-5 Program and the benefits to both new and expanding companies/project developers thru foreign capital investment, contact The Nevada State EB-5 Regional Center.

With the regional center program set to expire in September 2015, the EB-5 industry has been given new life in the form of the American Entrepreneurship and Investment Act of 2015. The Act was introduced today by Congressmen Jared Polis (CO-02) and Mark Amodei (NV-02), and is a follow-up to last year’s bill of the same name. The bill would make the regional center program permanent and allow for continued job creation and a more reliable stream of foreign capital.

“Our nation has always been at its strongest when we attracted the best and brightest minds to help build and invest in our economy,” said Rep. Polis. “The EB-5 visa program is an important tool that brings innovation and investment to the United States, and this bipartisan bill will improve and make permanent the program so that foreign investment and talent will continue to flow into our businesses, and strengthen our economy.”

Read More 

 

Curated from Congressmen Jared Polis and Mark Amodei Introduce Bipartisan Legislation to Permanently Authorize EB-5 Program on January 28, 2015 – EB5Investors.com