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The program is put in a really odd and non-helpful bureaucratic place for the stimulation of worldwide investment in the United States. We are offering away also much for also small of an investment.


The regional facilities, with their half-million plans, essentially undercut the more reasonable million-dollar part of the EB-5 program. Third, such programs, if we have them at all, as they carry out in Australia, need to be regarding creating company entities, not passive financial investments. It must be concerning creating actual tasks, not specify estimations about the indirect production of jobs, which is currently component of the legislation.


Probably that is one of the reasons it has fallen short time after time to reach the legal objective of 10,000 investment visas. Fifth, the Regional Center Program is naturally awkward, and the program is too loaded with middlemen, both public and exclusive. The program has greater than its share of rumors, which I will get involved in later if any person is interested.


This is a company that loves to state yes to candidates, yet as the table in my testimony shows, USCIS police officers have much extra trouble with EB-5 applications than others. I believe that is something that no one has truly chatted about much. EB5 Regional Center Program. There are high prices of internal denials in this program and forever factor

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Seventh, in this program visas most likely to individuals that can not obtain them differently and to individuals whose organized financial investment is really less, according to the Federal Reserve, than the average mean internet worth of all American families in 2007. Allow me increase on one of my monitorings.


My quote based on the investors' permit applications submitted 2 years after the first financial investment-- these are the strong ones that remain and are accepted. This is 2009-- was that they had regarding $191 million confirmed-- that is my estimate. USCIS does not give the kind of information that we might make use of on this.


For every $100 of raised foreign investment that year, the EB program added one cent. Under a much extra shaky statistical base, the preliminary applications of would-be immigrant capitalists, USCIS is informing journalists that the level of investment in the just-concluded year had to do with $1.2 billion. Allow us accept that.

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Thank you for listening to me. Chairman Leahy. He is the head of the company's migration method team.




Divine worked as Chief Advice of the United States Citizenship and Immigration Solutions from July 2004 till November 2006, the year in which he was Acting Supervisor, and then Performing Deputy Director. He has worked extensively with the EB-5 program secretive technique. He was elected, as I understand, vice head of state of the Organization to Spend in USA, the national sector organization of local centers.


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


At the majority of, if all 10,000 ports were used, it would certainly be 1 percent of the immigration every year to the USA. It is not near that more info yet, yet it is expanding and obtaining toward that. Specifically as USCIS, the company that manages the program, has been making the regulations more clear and the procedures much more logical and clear for individuals that are organizing investments and for the investors that are spending, more people have actually wanted and able to put initiative and money right into the procedure to discover excellent projects and create them, and after that much more investors have wanted to invest their money and take the threat and utilize the cash to develop the work that is the point of the program.

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These projects do not linger forever, and USCIS recognizes that and are attempting to speed up the program, speed the procedure - EB5 Regional Center Program. That does not suggest that they are relaxing their scrutiny, and, as a matter of fact, they are prepared to deny applications that are not certifying. And they do so, as was discussed


The local facility part of the program is not. It belongs to an appropriations bill that was established in 1992, and ever since that program has been extended 5 times for 19 years. It is time for it to be permanent, and it requires to be done currently and not nearer to the date of expiration in September.


The procedure takes a good while to develop a job and afterwards to get the capitalists accepted. And they do not desire their cash moving through until they have been authorized. And the specter of the expiration of this Regional Facility Program in September is already inhibiting the development of tasks.

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I would love to clear up that the Regional Facility Program is not the same as the half-million-dollar point. The concept 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 a lot of the regional centers that are pooling investments have actually set those in places of high unemployment or in backwoods where half- million-dollar financial investments are enabled, and that makes good sense.