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The legislation states you have got to invest for 2 years and that is all (EB5 Regional Center Program). Second, at one of the stakeholders meetings place on by USCIS, I asked a concern: Have you done any type of research on how much money stays beyond the 2 years? And the answer was no


Senator Grassley. Thanks, Mr. Chairman. I would certainly such as to have a 2nd round. Chairman Leahy. . Let me simply ask, Mr. Divine, you hear this objection that the money only needs to stay invested for 2 years. Has that been your experience? Mr. Divine. If cash obtains put into a hotel, as I was starting to explain earlier, the developer of that task would certainly need to be able to find someone to acquire the resort or would have to be able to locate someone to refinance it with other cash.

It is not any kind of simpler always than when it was in the problems that caused the foreign financiers being the very best alternative for financing the point to begin with. Hi, if it is an effective project, it makes cash, and it can be marketed, I do not see any factor why the task should not be able to be offered and for the capitalist to be able to realize the return of his investment, possibly gain on his investment, simply like every other financier.

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If you have a task that is funded directly through the Immigrant Investor Program and it is believed to be employing undocumented employees, Migration and Traditions Enforcement could explore the employer, could they not? Mr. Divine.


Mr. Divine. Every one of these companies is required to complete the I-9 type, yet USCIS goes a step even more and does a check of some kind that led to the situation that has actually been mentioned. I am not a witness right here, however I am so struck by Mr.

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I mean, Suggest recommend that advise of you actually-- In fact North, in your case, situation out from inside the Beltway and go up there and talk with speak of these people.

Mr.

I asked Mr. Stenger this. Mr.


I mean, the agency in company is-- USCIS is a fee-funded agency, company it is essentially kind of running a business and service to cover its expenses with the income that earnings generated. To run this program correctly, USCIS requires to staff up in a large method, dealing with the quantity that is already there and preparing for the enhanced quantity of more financial investment as we get also close to half of the 10,000 visas that are available in this category.

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I imply, that has actually got to seem like a conflicting scenario, and you would imagine that it is mosting likely to hold somebody back. Currently, I am not claiming that they are holding back, and I understand that they are attempting to staff up because I make certain they believe and wish that the program will be reauthorized for the advantage of the Country.


And is that really where they are mosting likely to be able to spend their time and sources in trying to get rid of up the regulations of this program so that everybody understands whether they can certify or otherwise and which kinds of jobs are mosting likely to certify etc? We need that consistently.


And, Mr. EB5 Regional Center Program. Stenger, we in Vermont-- once again, a little State, however we have the State federal government involved with the Vermont get more info Regional Center. Does that include advantages to Vermont's program? Mr. Stenger. The truth that the State of Vermont is the local facility manager, and really I think you would call it the owner of the regional center, has been a significant advantage.