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The program is positioned in a very odd and non-helpful administrative location for the excitement of international investment in the United States. We are providing away too much for as well tiny of an investment.


The regional centers, with their half-million systems, basically damaged the extra practical million-dollar component of the EB-5 program. Third, such programs, if we have them whatsoever, as they carry out in Australia, should be about developing business entities, not passive investments. It should be concerning creating actual tasks, not specify calculations concerning the indirect development of jobs, which is now component of the regulation.


Probably that is one of the reasons that it has failed year after year to get to the legal goal of 10,000 financial investment visas. Fifth, the Regional Facility Program is inherently awkward, and the program is also filled with middlemen, both public and personal. The program has greater than its share of scandals, which I will enter into later if anybody is interested.


This is a company that enjoys to claim yes to candidates, but as the table in my testimony shows, USCIS policemans have a lot more problem with EB-5 applications than others. I think that is something that no one has actually truly spoken about much. EB5 Regional Center Program. There are high prices of internal rejections in this program and completely factor

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Seventh, in this program visas go to individuals who can not obtain them otherwise and to individuals whose scheduled financial investment is in fact much less, according to the Federal Book, than the ordinary mean web well worth of all American families in 2007. Let me increase on one of my observations.


My quote based upon the capitalists' eco-friendly card applications submitted 2 years after the very first financial investment-- these are the strong ones that stay and are authorized. This is 2009-- was that they had concerning $191 million verified-- that is my quote. USCIS does not provide the type of information that we could use on this.


For every $100 of raised foreign financial investment that year, the EB program added one penny. Under a far more wobbly statistical base, the initial applications of would-be immigrant financiers, USCIS is informing reporters that the degree of investment in the just-concluded year had to do with $1.2 billion. Let us accept that.

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Thank you for paying attention to me. Chairman Leahy. He is the head of the company's immigration technique team.




Divine acted as Chief Guidance of the United States Citizenship and Migration Services from July 2004 till November 2006, the year in which he was Performing Supervisor, and afterwards Performing Replacement Director. He has actually worked thoroughly with the EB-5 program in private technique. He was chosen, as I understand, vice president of the Association to Spend in USA, the nationwide market organization of regional centers.


Divine, we are pleased to have you right here. Please go on, sir. STATEMENT OF ROBERT C. DIVINE, ATTORNEY, BAKER, DONELSON, BEARMAN, CALDWELL, AND BERKOWITZ, P.C., CHATTANOOGA, TENNESSEE, AND VICE PRESIDENT, PURCHASE THE U.S.A. (IIUSA) Mr. Divine. Thanks, Mr. Chairman, Senator Grassley, and others. Thanks for having me.


At many, if all 10,000 slots were utilized, it would certainly be 1 percent of the immigration each year to the United States. It is not near that yet, however it is growing and obtaining toward that. Specifically as USCIS, the firm that looks after the program, has actually been making the rules more clear and the processes more reasonable and clear for the people who are organizing investments and for the financiers that are investing, more individuals have actually been eager and able to put effort and cash into the process to discover excellent jobs and establish them, and after that much more investors website have been prepared to invest their money and take the risk and use the cash to create the tasks that is the point of the program.

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These tasks do not linger permanently, and USCIS recognizes that and are trying to speed up the program, speed the procedure - EB5 Regional Center Program. That does not suggest that they are relaxing their examination, and, as a matter of fact, they are prepared to deny applications that are not qualifying. And they do so, as was pointed out


The regional facility part of the program is not. It is component of an appropriations bill that was passed in 1992, and ever since that program has been prolonged five times for 19 years. It is time for it to be irreversible, and it requires to be done currently and not nearer to the date of expiry in September.


The procedure takes an excellent while to function up a project and afterwards to obtain the capitalists authorized. And they do not want their money flowing with until they have actually been accepted. And the specter of the expiry of this Regional Center Program in September is currently discouraging the growth of jobs.

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I would certainly like to make clear that the Regional Facility Program is not the same as the half-million-dollar thing. The idea of half a million or a million is a feature of the normal EB-5 legislation that becomes part of the code. It just is a reality that many of the regional centers that are merging financial investments have set those instead of high joblessness or in rural areas where half- million-dollar investments are enabled, and that makes sense.