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The regulation says you have obtained 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 cash stays past the 2 years? And the solution was no


Legislator Grassley. Thanks, Mr. Chairman. I wish to have a 2nd round. Chairman Leahy. . Allow me just ask, Mr. Divine, you hear this criticism that the money only has to remain spent for 2 years. Has that been your experience? Mr. Divine. If cash obtains placed right into a resort, as I was beginning to discuss earlier, the designer of that project would have to have the ability to discover somebody to purchase the hotel or would certainly need to have the ability to locate somebody to refinance it with various other cash.






It is none easier necessarily than when it remained in the problems that caused the foreign investors being the most effective option for financing things to begin with. Yet, hi there, if it is an effective job, it generates income, and it can be marketed, I do not see any type of reason that the task must not be able to be marketed and for the investor to be able to understand the return of his investment, maybe get on his investment, simply like every other capitalist.

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If you have a task that is funded straight via the Immigrant Investor Program and it is believed to be utilizing undocumented workers, Immigration and Customs Enforcement could check out the company, could they not? Mr. Divine. They could. I imply, I assume what we need to understand also is that the instance that is being pointed out as proof that sometimes these tasks have hired an unauthorized worker is one in which USCIS did some sort of monitoring and established that the employee was not accredited and quit it.


Mr. Divine. Every one of these employers is needed to complete the I-9 kind, yet USCIS goes an action even more and does a check of some kind that led to the situation that has actually been discussed. I am not a witness below, yet I am so struck by Mr.

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


Mr.


I asked Mr. Stenger this. Mr.


I mean, the agency in firm isResult USCIS is a fee-funded agency, so it is essentially kind of running a EB5 Regional Center Program business and company to cover its expenses with the income that earnings generated. To run this program correctly, USCIS needs to staff up in a big means, dealing with the volume that is currently there and anticipating the increased volume of more financial investment as we get even close to half of the 10,000 visas that are readily available in this category.

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I suggest, that has obtained to feel like a clashing scenario, and you would visualize that it is going to hold someone back. Now, I am not claiming that they are holding back, and I recognize that they are attempting to staff up since I make certain they think and hope that the program will certainly be reauthorized for the benefit of the Country.


And is that actually where they are mosting likely to be able to spend their time and resources in attempting to improve the policies of this program so that everyone recognizes whether they can qualify or otherwise click reference and which kinds of jobs are mosting likely to certify etc? We require that continually.


And, Mr. Stenger, we in Vermont-- once again, a little State, yet we have the State government included with the Vermont Regional. Does that include advantages to Vermont's program? Mr. Stenger. The fact that the State of Vermont is the regional facility administrator, and in fact I think you would i loved this certainly call it the owner of the local center, has been a tremendous advantage.