The EB-5 program remains a significant achievement for the US Citizenship and Immigration Services, and the program has helped to fund the projects with nearly $7 billion, explains Shai Zamanian and Preeya Malik. However, the requirements for obtaining EB-5 funding can be quite complex, and securing the right investor for your project may be difficult. Fortunately, you can maximize the chances of securing funding by following these seven tips.
- Market Your Project.
Many different businesses are constantly trying to secure EB-5 funding and investors. As a result, the funding sources from investors are highly competitive. Your project needs to stand out with investors and customers alike.
- Embrace Visibility and Transparency.
Foreign investors will be looking for potential investments with a business owner or project manager who has made all information available, such as what resources have already been acquired and what remains unfinished.
- Be an Authority.
EB-5 investors will have many questions about where, how, and to what extend their money is being used. Be prepared to answer these questions, which help to build your credibility, throughout the process.
- Take Advantage of Regional Centers.
Regional centers may be able to help you secure EB-5 funding faster. The center will help you prepare paperwork and ensure you meet all of the necessary criteria for EB-funding.
- Create Extra Jobs.
Obtaining EB-5 funding requires businesses to create 10 jobs for every $1 million invested. However, the final number of jobs could be different than presumed. Create 15 percent more jobs than required.
- Request “Exemplar” Status.
If you obtain “exemplar” status, your project is basically pre-approved for EB-5 funding. This will make your project stand out to foreign investors and help you secure funding faster. It also helps to build your credibility.
- Hire an EB-5 Attorney.
If you have not previously worked with the EB-5 program, you may have trouble finding the correct investors. You may want to consider hiring an investment immigrant firm to help you navigate the process.
If you have recently started looking into obtaining EB-5 funding for your project, these seven tips will help you secure funding faster and with less stress. To learn more about hiring an EB-5 attorney for your project, contact the Law Offices of David Hirson & Partners, LLC today at (949) 383-5358.