subject: How to choose an Attorney for the EB-5 program [print this page] The EB-5 regional center program has become increasingly popular over the past few years. Families from all over the world have taken the view that a $500,000 investment, in a US approved regional center program is worth making for a five or six year period, in return for obtaining permanent residence status for the applicant, their spouse and their unmarried children under 21.
One of the first issues such an applicant needs to consider is which government approved regional center program to choose from. This can be easier said than done with well over one hundred centers authorized to offer programs. Choosing the proven from the unproven, the hyped up from the well established regional center can be a difficult job and some seek initial advice from an immigration attorney; hence the question asked by many EB-5 visa applicants, which immigration attorneys successfully specialize in the EB-5 program?
Indeed the issue of the role of the attorney in relation to the EB-5 program was a topic considered recently at the AILA (American Immigration Lawyers Association) conference in Boston, where some of Americas most experienced EB-5 immigration attorneys, who have written books on the subject and provide training for Attorneys looking into the EB-5, provided some extremely valuable insight.
When looking for an EB-5 experienced attorney it is important to know what to expect from them and one of the areas raised at the AILA conference was the attorney you intend to use for your EB-5 visa application may well not be a suitable source to determine which regional center investment program to opt for.
Indeed in a number of published articles and at the convention, a number of the leading experienced EB5 attorneys suggested to prospective attorneys looking to process EB5 applications, that they should not be providing advice on the various regional center program investments to their clients.
There are a number of reasons that have been given for this advice which are worth considering.
Attorneys could be considered to have a conflict of interest if they are charging a fee from their client for processing an application and also receiving a fee from the regional center they recommend to the same client.
Attorneys may anyway not be qualified or experienced to help a client chose between the various regional centers programs. Listening to feedback from attorneys at the conference it is apparent that many have not visited any regional center programs. Without such visits it is difficult to be aware of all that happening on the ground with a particular program and without that information how can one determine how safe a program is?
It is also worth bearing in mind that some attorneys helped set up regional center programs, some have advised regional centers and a few even have an interest or share in particular regional center programs already flagging up a potential conflict of interest scenario.
The initial starting point, if considering the EB-5 visa route, is to gather as much information as possible from a proven impartial source with no interests or ties to any regional center. It is preferable the source used has visited all proven centers and has an extensive track record of working with at least 150 applicants over a range of regional centers with a 100% track record.
Experienced EB5 consultants have expressed concern about reliance on an inappropriate source for advice on the EB-5 regional center options, a view also expressed at the AILA conference.
