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


Legislator Grassley. Thanks, Mr. Chairman. I would love to have a 2nd round. Chairman Leahy. . Let me just ask, Mr. Divine, you hear this objection that the cash just has actually to stay invested for 2 years. Has that been your experience? Mr. Divine. If money obtains taken into a hotel, as I was starting to clarify earlier, the programmer of that job would have to have the ability to locate someone to purchase the hotel or would certainly need to be able to locate someone to refinance it with other money.






It is none less complicated always than when it was in the problems that resulted in the international financiers being the best alternative for financing the point to begin with. However, hi there, if it is a successful task, it earns money, and it can be marketed, I do not see any type of factor why the job need to not be able to be marketed and for the investor to be able to recognize the return of his investment, perhaps obtain on his investment, similar to every other financier.

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If you have a project that is moneyed directly with the Immigrant Investor Program and it is thought to be employing undocumented employees, Immigration and Traditions Enforcement could investigate the company, could they not? Mr. Divine.


Mr. Divine. Every one of these companies is called for to finish the I-9 form, however USCIS goes an action better and does a check of some kind that led to the case that has been pointed out. I am not a witness helpful hints below, but I am so struck by Mr.

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I mean, Indicate recommend that suggest of you actually-- Really North, in your case, situation out obtain inside the Beltway and go up there and talk with speak of these people.


They will certainly claim, "We have obtained regarding nine people right here, and we have been here given that 5 o'clock this morning, Mister." [Giggling.] Chairman Leahy. Not rather what a prohibited immigrant could be saying. I believe Mr. Stenger would state that one of his British capitalists was thinking, "Are we all talking the same language right here?" Mr.


I asked Mr. Stenger this. Let me ask you what your experience is as a previous company official. What does it do if Congress maintains meeting a final reauthorization? In this case it would be, I assume, September of next year, September of 2012. What does that do to a company attempting to administer a program if Congress waits up until the last couple of days to reauthorize it? What is the useful impact? Mr.

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I mean, the agency effectively is-- USCIS is a fee-funded company, so it is essentially type of running an organization and needs to cover its expenditures with the revenue that is created. To run this program appropriately, USCIS requires to staff up in a large means, dealing with the volume that is currently there and anticipating the increased volume of even more financial investment as we get back at close to half of the 10,000 visas that are available in this web category.

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I imply, that has actually obtained to really feel like a conflicting circumstance, and you would certainly imagine that it is going to hold somebody back. Currently, hop over to here I am not claiming that they are keeping back, and I recognize that they are trying to staff up since I make certain they think and wish that the program will certainly be reauthorized for the benefit of the Nation.


And is that really where they are going to be able to invest their time and resources in trying to clear the rules of this program so that everybody understands whether they can qualify or not and which type of jobs are going to qualify and so forth? We need that continuously.


And, Mr. EB5 Regional Center Program. Stenger, we in Vermont-- once more, a tiny State, yet we have the State government entailed with the Vermont Regional Facility. Does that add benefits to Vermont's program? Mr. Stenger. The fact that the State of Vermont is the regional facility manager, and really I think you would call it the owner of the local facility, has been an incredible benefit.