As the Northern Nevada region clears the carnage of the economic recession, it emerges stronger than ever. Once thought strictly as an entertainment capital, it is slowly blossoming into a technological power house.
With the recent start of construction on the Tesla Gigafactory, other new technology companies are exploring the economic and quality of life benefits Northern Nevada has to offer. In addition to the construction of the new Tesla battery manufacturing plant east of Reno, other recognized companies are exploring the region including: Apple, Dairy Farmers of America, Amazon and the Switch Data Center to name a few.
The recently announced Switch Data Center will provide cloud-based data backup for mega companies such as Ebay and Dreamworks. Currently, its only data center is located in Las Vegas and Switch looks to create a double redundancy system with the addition of the new Northern Nevada facility. Work has begun on the first phase of the $1Billion data center.
Technology based companies/project developers rely heavily on capital to launch new operations, relocate or expand. A powerful tool available to these companies/project developers is the EB-5 Program. As a certified USCIS EB-5 Program, the Nevada State EB-5 Regional Center facilitates local job creation through foreign capital investment into local, approved projects. If you are a Technology based company or supplier interested in joining the Northern Nevada Tech World and require capital, please contact NVEB-5 to discuss how we can assist you.
To learn more about the many benefits of becoming an approved EB-5 Program, contact The Nevada State EB-5 Regional Center at: 885.498.6360 or visit: NVEB5.org.
More Northern Nevada Technology In the News…
We know that one of the major EB-5 Program benefits to Companies/Project Developers in the United States is to create jobs through Foreign Investment. But, how does the EB-5 Immigrant Investor Program benefit the Foreign Investor?
There is no one simple benefit. Instead, the unique blend of benefits and flexibility are numerous, making the EB-5 Immigration Program an ideal option for a number of qualified applicants. Benefits include:
• Retirees who are self-sufficient and want to reside in the United States
• Parents who want a child to study in the United States and obtain in-state tuition
• Foreign nationals who are reaching the 6 year limit for their H-1B visa status
• A foreign national investor in a US business who does not want to be active in the day-to-day operations of the business
• Spouses of permanent residents
• Foreign nationals with an urgent need, or desire, to become a permanent resident
• Foreign nationals who need/want to relocate to a stable region
• Many other foreign nationals who may have no other options for legal status in the United States
Nevada State EB-5 Regional Center is ideal for high net worth foreign investor because:
1. USCIS approval of a project offers a potential investor a level of security.
2. The added benefit of “in direct and induced employment creation” formulation for the EB-5 investor, assisting in meeting the job-creation requirement of an investment.
3. The passive investment-nature of the limited partnership role with the New Commercial Enterprise. The role of a limited partner satisfies the management requirement imposed by federal regulations, while simultaneously relieving the EB-5 investor of responsibility for day to day business operations. As a limited partner, the investor has limited policy-making involvement, yet no day-to-day management authority. Thus, for the vast majority of immigrant investors not interested in management of the business, the EB-5 Regional Center program offers the most attractive investment option.
4. Live anywhere in the US. Another advantage of the Regional Center program is that the investor is not required to live in the same geographic location as the investment. Rather, he or she can live anywhere in the United States.
To learn more about the EB-5 Immigrant Investment Program visit:
USCIS.gov or NVEB-5.org
Or call the Nevada State EB-5 Regional Center direct at: 855.498.6360
The Western Nevada Development District will be holding Stronger Economies Together, 2015 (an economic conference) May 19th through 21th, 2015 at the Joe Crowley Student Union on the University of Nevada, Reno campus. The purpose of the event is to encourage dialogue and education about Nevada economic development challenges and future opportunities.
At least 500 community leaders, policy makers and government officials from throughout the region are expected to attend the event which will focus on a wide-range of discussion topics highlighting Nevada’s economic path. During the conference, nationally recognized experts in creative economic and workforce development will deliver keynote presentations. In addition to the presentation, the event will provide a pre-conference workshop, institutes and education sessions, offsite tours and networking opportunities. The conference will offer eight sessions addressing: access to capital, agribusiness, energy, infrastructure, manufacturing, mining, tourism, transportation and workforce development as cornerstones of economic growth.
Scheduled keynoter speakers include Don Macke and Deborah Markley, co-founders of the Center for Rural Entrepreneurship; Patrick McGaughey, a nationally known expert on win-win negotiations and building business-education partnerships; and Jason Broadwater, expert on creative community development and accomplished author. Lynn Beteag, Administrator, for the Nevada State EB-5 Regional Center is also scheduled to present on accessing capital through foreign investment and the benefits of the EB-5 Program; a program implemented by the US Citizenship and Immigration Services (USCIS) which facilitates US economic growth through the EB-5 immigrant investment program allowing international investment leading to local job creation in exchange for immigration benefits.
“The Stronger Economies Together Conference will highlight economic tools and economic information that will benefit anyone with an interest in Nevada’s future economic development. I encourage you to attend,” said Lynn Beteag.
Spaces for the event is still available. For more information or to register for the event, please visit: WNDD.org
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/)
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:
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:
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.
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.”
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.
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.
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.
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:
- Investment of either $1,000,000 USD or $500,000 USD and the creation of a minimum of 10 U.S. based jobs.
- Proof of lawful investment.
- Stringent background check: Multiple government agencies participate in the background check, investment verification and more.
- Currently, the USCIS grants 10,000 visas a year and the immigrant entry is not to exceed 10,000.
- EB-5 investment opportunities must follow traditional securities laws and processes.
- Brokers, finders and broker-dealers must comply with various securities laws.
- 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
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.
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:
Toll free: 855.498.6360
Carson City, NV 89703
Toll Free: 855-498-6360