EB-5 Investor Portal Podcast: Recent Episodes

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Floyd Mitchell: [00:01:14] Hello EB-5 investors. This is Floyd Mitchell with eb5eb5.com. Welcome to Episode 5 of the EB-5 investor portal podcast recording on Friday December 1st 2017. Today's episode is titled applying for an EB- 5 visa as an H1-B applicant or visa holder with special guest and immigration attorney Sam Newbold of Barst Mukamal & Kleiner. Sam heads of BMK's EB-5 practice group representing individual investors regional centers and developers. Sam has counseled hundreds of individual EB-5 investors and their families through the entire EB-5 process and has one of the highest approval ratings in the industry. Mr. Newbold is a well-established speaker on immigration law topics in New York City and throughout the country. He often presents on topics involving complex immigration issues. Mr. Newbold also serves on the board of directors for the Safe Passage Project, a nonprofit that provides pro-bono legal aid to accompanied minors in the immigration process. He holds degrees from New York Law School and Elon University. He's admitted to practice law in New York and New Jersey. He's a member of the American Immigration Lawyers Association, American Bar Association and the New York State Bar Association. Mr. Newbold has been listed in the 2015, 2016 and 2017 Super Lawyers rising star publication which recognizes New York City's top attorneys under the age of 40. Sam welcome to the show. Today's topic is covering H1-B applicants and visa holders who may want to learn more about the EB-5 program.

Floyd Mitchell: [00:02:50] Sam can you tell us if individuals seeking a U.S. green card may file an EB-5 petition concurrently with a pending EB-2 or EB-3 application out to USCIS.

Sam Newbold: [00:03:01] Sure we have a number of Indian clients who are here in the United States on H1-B and their employers have filed employment based green cards on their behalf. We call these EB-2 or EB-5 category green cards in contrast EB-5 for example. Indians are subject to a backlog in EB-2 and EB-3 similar to how Chinese are subject to a backlog any EB-5. Basically we only give out a certain number of visas globally and we cap also the number of visas we give out to specific countries every year as well. So because of the interest we have in Indian nationals wanting to emigrate for employment it's created a very long line in the EB-2 and EB-3 category for Indian nationals who are here in the United States on H1-B visas and they are here continuously on these H1-B visas employed with their employers while they're waiting for their green cards to come through. Meaning that they're waiting for their visa number to be current so that they can process and adjust their status from being an H1-B visa holder to a U.S. green card holder. So oftentimes what they do is, they'll come to us because they're hearing about EB-5 and there's no backlog for Indian nationals in the EB-5 category and they're looking to perhaps pursue you know an EB-5 investment as a way to get a green card because it would be faster than having to wait you know 10 to 15 years maybe for their visa number to become current and processed under EB-2 or EB-3. So one of the questions initially that they ask us is, "can I file an EB-5 petition if I have an EB-2 or EB-3 sort of green card case going with my employer. The answer to that is yes absolutely. These petitions operate totally independently of one another. For example, the investor files an EB-5 petition themselves and the employer is actually the entity that sponsors the immigrant for the green card and files all the paperwork. So they're the actual person who filed that petition with immigration there. So you have an employment based green card case going and an investment based green card case going and they can totally operate concurrently. They don't interfere with each other necessarily and they don't even really have those cases never really crossed paths at all.

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Floyd Mitchell: Hello EB-55 investors this is Floyd Mitchell with EB5EB5.com. Welcome to Episode 4 of the EB-5 investor portal podcast recording on Thursday July 27th 2017. Today's episode is titled The EB-5 Visa in Silicon Valley with special guest and immigration attorney Sophie Alcorn. Sophie's firm Alcorn Immigration Law helps corporations, start-ups and small businesses in Silicon Valley sponsor the biggest talent in technical fields for U.S. Immigration. Alcorn Immigration Law has a 95% success rate in defending immigration and innovation with visas, green cards and citizenship. We are really excited to have Sophie on the show today and she'll be sharing more information about her firm and the EB-5 program. Sophie Welcome to the show.

Sophie Alcorn: Thank you Floyd, I really appreciate it.

Floyd Mitchell: We appreciate your time today and for sharing more information about your firm's approach to immigration especially the EB-5 program. What is the most common question you get from your immigration clients.

Sophie Alcorn: Yeah the most common question is.."How can I stay in the United States or how can I get the United States". Even though there are so many options and so many laws that allow for legal immigration to the United States it's so confusing to try to decipher them and navigate them. Immigration law is one, if not the most, complicated types of law in the United States. Many judges have complained that it's even more complicated than our crazy tax law system. And if you couple that with the fact that most people who need to navigate U.S. immigration law are from countries where English is not the first language that they learn and if they speak English they speak it as a second language. It's just so unfair and so difficult for them to try to decipher what immigration laws mean. As a non-native English speaker especially so what I see my job as and our team what we do at Alcorn Immigration is really, we come in to help understand...What is your specific situation? Where are you at? Where do you want to be in your life? How do you want to get there? Who do you need to help like your family, your company, your employees, and what? And then we we brainstorm. We use all of the tools of immigration law, visas, parole, green cards, citizenship and so we come up with a lot of creative legal options to help figure it out and then we turn it over to our clients because what it's really about is our clients figuring out what are their priorities. So you know given where they are and where they want to go would they rather pick option A which has these pros and cons, option B which has the pros and cons, option C, and to really give a lot of thought to, "How do I want my life to work?" How long can I wait for this visa? Do I want to try to get it inside the U.S. or outside of the United States? How much do I care about when I'll be able to work in the United States? Do I just want to be here physically? Do my children need to go to school? Which type of school do they want to go to? Do I need to travel a lot back and forth for business meetings or board meetings? Or do I need to just plant myself in the United States and not travel because my kids are really young? So you know everybody's situation is different but everybody has questions. And so people are just delighted to have the opportunity to make an intelligent decision about about their future and to feel like they have some control in choosing one of these strategies that we offer.

Floyd Mitchell:  I understand that your firm's primary focus in terms of clientele is the Silicon Valley area, the individuals who have immigration needs and the companies that also have immigration needs. Can you tell us what's unique about serving these clients?

Sophie Alcorn: Yeah, we get to help people who are coming to Silicon Valley coming to the United States who are focused on innovating and changing the world. They're not just starting software companies but...

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Hello EB-5 investors. This is Floyd Mitchell with eb5eb5.com. Welcome to episode three of the EB-5 investor portal podcast, recording on Friday July 14th 2017. Today's episode is titled The EB-5 Visa with a focus on India. Our guest today is immigration attorney, Swee Shankar of Shankar Ninan & Co LLP.

Swee brings a wealth of experience in Immigration and Nationality laws and is an active member of the American Immigration Lawyers Association, New York City Bar Association and the American Bar Association. Swee assists corporations seeking to hire foreign professionals or skilled workers and also assists corporate clients with transferring personnel to company branches within the United States. She also advises clients in U.S. EB-5 investor visa applications.

Are you an investor from India and curious about how you might approach the EB-5 process? Are you curious to learn more about applying for EB-5 as an individual from India? If so, today’s podcast is just for you. If you are listening today and happen to live in a country or region outside of India, you may still learn a lot from this episode and we encourage you to listen as well.

Swee, welcome to the show.

Swee Shankar: Thank you. Thank you for having me here.

Floyd Mitchell: Please tell us a little bit about your practice. Do you focus on clients coming to America primarily from India via the EB-5 program?

Swee Shankar: Yeah, absolutely. So I would say about 80% of my clients are Indian based. I really think it's because I'm Indian, honestly, so I think people feel comfortable to seek advice from someone that they can relate to, you know? But we do have clients from all over the country, all different backgrounds, ethnicities, all that kind of stuff. My firm has been in business for over 25 years. We used to be called Shimanayd Syad PC but we have recently bought over that firm and now, as you have mentioned, we are known as Shankar Ninan & Co., LLP. We deal with all corporate business and family immigration ranging from all types of visas, students, work visas, green cards, naturalization, investment routes, etc. But yes, we do, primarily, deal with a large Indian based clientele.

Floyd Mitchell: What is the most common question you get from your EB-5 client in India?

Swee Shankar: That's a good question. It's hard to say that there honestly is just one. Most people want to know, of course, when they're going to get their money back. But when we really start getting into the process, I think my client's biggest concern is how to get all of their money here. And the differences between investing in their own businesses versus a regional center. And, which one is more beneficial to their interests.

Floyd Mitchell: What type of services does your firm offer in terms of the planning? Do you help them develop an immigration plan? Do you assist with source of funds?

Swee Shankar: When it comes to their immigration plan, we really take care of them from the day that they come into my office to the day that they get their green card. So, I will discuss with them their immigration status. What status they're on currently. If they're not in the country, the best way to get them here. The best routes for them to take. Of course, sourcing of funds is a huge issue. Regardless of who you are you need to be able to source your funds. And, also importantly, on to that topic, really just how it makes sense for them to come here. Bring their money here. Who can come in under, with them. Their spouses, their children. And the best route for them to take. We're here when they need help with anything from business plans. We can help assist or talk with other vendors that we have, to help them get connected. And then, we also help once we file the I-526. If there's any queries that come from USCIS, which is called a Request for Evidence. We're there to assist with the entire Request for Evidence process. Provide all the documentation that they ask for.

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Introduction: Hello EB-5 investors. This is Floyd Mitchell with eb5eb5.com. Welcome to episode two of the EB-5 investor portal podcast, recording on Tuesday, June 27, 2017. Today's episode is titled Origin of Funds and EB-5 Investments. Our guest is immigration attorney, Andrew Johnson, of law offices of Andrew P. Johnson in New York, New York. Mr. Johnson was a government prosecutor until he entered private practice in 1998. He has authored numerous articles on immigration and international litigation, some of which have been published by the American Bar Association and the American Immigration Lawyers Association. In addition, Mr. Johnson has been featured in the New York Times, quoted by the New York Daily News, and interviewed by CBS News on the topic of immigration. He has represented large corporations, nonprofits, and small companies in all aspects of immigration law. Mr. Johnson has spoken to business organizations in conferences around the world on the various strategies for immigrating and sending employees to the United States. Mr. Johnson practices immigration law exclusively and is an active member of the American Immigration Lawyers Association. Andrew is admitted into the United States Supreme Court first, seventh, ninth, and eleventh United States circuit court of appeals, New Jersey district court, and the State Bar of New Jersey. Today he will be sharing information about origin of funds in EB-5 transactions. Andrew, welcome to the show and thank you so much for joining us today.

A: My pleasure. Happy to talk about the most primary issue with a EB-5 applicant, which is the origin of funds.

Q: Can you share some insight about origin of funds and why issues or challenges tend to present themselves with this particular component in EB-5 investments?

A: Absolutely. There's two issues with origin of funds. One, sometimes applicants think it's no problem whatsoever and then they realize, after going into detail, there are some problems based on those country's specific tax laws. Two, some clients think they absolutely cannot prove their origin of funds and realize once they talk to an attorney who's done this for many years, there's absolutely many avenues in which you can prove origin of funds. With that information, let me tell you about the basic requirements. Origin of funds simply means how to prove that the money was obtained legally for USCIS purposes. That's the most important because a lot of people explain that in my country it was obtained legally and the government knows it's obtained legally, however it might not be considered legal origin funds under USCIS regulations. The general rule about legal origin of funds is you have to come from an origin of which it was earned or legally obtained, and let me give you some examples. An easy one would be real estate. A house was sold and the proceeds of that money is used to show USCIS the legal origin of where the money came from. You also can do it from inheritance, just simple savings, investments, business profits or business salary, gifts from relatives or friends, and also you can use all types of variations. People don't understand that you might have 10% come from inheritance, 10% come from business profits, 10% come from savings all the way through. You don't have to have it come from one source. There is one other issue that often people don't fully understand. They simply say, "Okay, I'm selling a house I owned for two years and therefore that's the profit and I'll show that and prove that as my origin of funds." Because it's a recent sale of a house, USCIS will want to know where that money came from to purchase the house two years ago. If it's a home 20 years old the requirement for documentation showing how that money was earned is much less and can be usually drawn from affidavits or statements by the applicant.

Q: In your experience how would one go about showing detail for the origin of funds on a transaction that...

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EB-5 Broker Dealer In this EB-5 Podcast Episode you'll learn some key information about the Broker Dealer and their importance in EB-5 investments. A few things you'll learn in this article and podcast are:

What is an EB-5 Broker Dealer? Why are EB-5 investments securities that require an EB-5 Broker Dealer's involvement? What background and experience does the Portal's Broker Dealer have? What can you expect when working with an EB-5 Broker Dealer? Read on or listen to learn more about the EB-5 Broker Dealer.

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Charles "Duke" Runnels of T.R. Winston speaks with us about the role of a Broker Dealer in EB-5 Transactions. Podcast - 28 mins. Introduction: (Episode Transcribed) Hello EB-5 Investors this is Floyd Mitchell with eb5eb5.com and welcome to episode #1 of the EB-5 Investor Portal Podcast.

Recording on Friday June 23rd 2017. Today’s episode is titled: The Role of a Broker Dealer in EB-5 Investments”.

Our guest is investment banker, Charles “Duke” Runnels of T.R. Winston & Company. Duke has an impressive background in not only EB-5 Investments but real estate as well. Some of Duke’s notable projects included the Minnesota World Trade Center, the Louisville Galleria along with its two adjoining office towers, the CCH Computax Headquarters building and the Torrance Marriott Hotel.

Since 2014, Duke has been acting Director for Capital Markets for TR Winston & Company, a privately owned merchant, corporate and investment banking firm. Today Duke will share with us some keen insight into the role of a broker dealer in EB-5 investments. Welcome again and I hope you find today’s show informative and helpful.

Are you an investor doing your research and trying to find the right project, or the right team? Are you familiar with the role of a broker dealer and how much this person can help you reach your dream of U.S. Citizenship? Have you read the bad news about EB-5 as it so often is published by the media? We’ll if so, today’s episode should bring clarity and give you confidence that there is a proper, safer and professional way to make your investment and improve the likelihood of you reaching your goal of becoming an American Citizen.

I’d now like to welcome Duke Runnels to the show. Duke, we appreciate your time today and really look forward to learning more about what you do as an investment banker and broker dealer for immigrant investors.

Q: Let’s start with the basics Duke. There are many advisors that are not actual Droker Dealers like you out in the world promoting various EB-5 projects and giving advice to prospective investors. I understand that this can be quite risky and that there are actual safeguards in place for these investors. What are EB-5 Investments and why are they regulated by FINRA and what is your role in all of this as a broker dealer?

A: EB-5 investments are securities and securities come under the purview and guidance of FINRA and its member firms. The Broker Dealer (also referred to as an investment banker) role is a critical role as one looks towards making an investment in the EB-5 arena. The reason for that is that you know that investment has gone through a certain amount of scrutiny, a certain amount of due diligence, investigation and that there has been a full identification of the risks along with the opportunities. Call it an enhanced vetting process that the project goes through before it is even made available to the investor for their consideration. So the role of a broker dealer or the role of an investment banker becomes a critical one. In the EB-5 industry this is somewhat of a new phenomenon because many people have been acting as advisors in this role without going through the various guidelines that are developed by FINRA. A Broker Dealer adds another avenue of safety that the investor may rely on.

Q: What is involved to get approved as an investment banker to be licensed as an EB-5 broker dealer?