As part of a continuing look at the EB-5 Regional Center Program, the Ranking Minority Member of the Senate Homeland Security and Governmental Affairs Committee has recently sent out letters to Regional Centers that have been designated by the Department of Homeland Security seeking information about the Center and the projects. Specifically, the letters request:
• Any approval from USCIS to participate in the EB-5 Program regarding the Regional Center and their business plan, including any subsequent recertification;
• The total amount of investment and number of individuals by country of origin making investments through the Regional Center since the regional center has been in operation;
• The name, address and a description of each business in which the Regional Center has made an investment of funds and the number of jobs created by each investment;
• Any fees charged to EB-5 applications or received by the Regional Center, including amount and description;
• A list of any current or former corporate officers of the Regional Center, including the title or position and dates of employment; and
• The name of address of any individual entity – either foreign or domestic – you or the Regional Center has an agreement with to provide legal, accounting, recruiting, or consulting services, as well as a description of the service provided.
It appears that the Senate Committee is continuing to investigate the Department of Homeland Security’s oversight of the EB-5 program. If you receive one of these letters, please reach out to your legal counsel for guidance on how to respond.