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The law says you have got to invest for 2 years and that is all (EB5 Regional Center Program). Second, at one of the stakeholders meetings place on by USCIS, I asked an inquiry: Have you done any kind of study on how much money stays past the 2 years? And the solution was no


Legislator Grassley. Thanks, Mr. Chairman. I wish to have a 2nd round. Chairman Leahy. . Let me just ask, Mr. Divine, you hear this criticism that the money just needs to stay spent for 2 years. Has that been your experience? Mr. Divine. If cash obtains put right into a resort, as I was starting to describe earlier, the designer of that job would have to be able to locate someone to get the resort or would have to have the ability to locate somebody to refinance it with various other cash.






It is not any easier always than when it remained in the problems that brought about the foreign capitalists being the most effective option for funding the point to begin with. However, hello, if it is a successful job, it earns money, and it can be sold, I do not see any reason that the job should not be able to be marketed and for the financier to be able to understand the return of his investment, possibly acquire on his financial investment, much like every various other investor.

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If you have a project that is funded straight via the Immigrant Investor Program and it is believed to be employing undocumented employees, Migration and Customs Enforcement could investigate the employer, could they not? Mr. Divine. They could. I suggest, I assume what we require to realize also is that the instance that is being mentioned as evidence that sometimes these tasks have hired an unapproved worker is one in which USCIS did some kind of monitoring and figured out that the worker was not licensed and stopped it.


Mr. Divine. Every one of these companies is called for to complete the I-9 form, however USCIS goes an action further and does a check of some kind that led to the situation that has actually been mentioned. I am not a witness right here, yet 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 from inside the Beltway and go up there and talk with some of these people.


Mr.


I asked Mr. Stenger this. Mr.


I mean, imply agency in effect isResult USCIS is a fee-funded agency, company it is essentially kind basically running a business and service to cover its expenses with the income that revenue generated. To run this program properly, USCIS requires to staff up in a huge way, dealing with the quantity that is already there and preparing for the enhanced quantity of more financial investment as we get also close to fifty percent of the 10,000 visas that are readily available in this category.

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I imply, that has actually obtained to seem like a conflicting circumstance, and you would check over here certainly linked here imagine that it is going to hold somebody back. Now, I am not stating that they are keeping back, and I recognize that they are trying to staff up because I make certain they believe and really hope that the program will certainly be reauthorized for the benefit of the Country.


And is that truly where they are mosting likely to have the ability to spend their time and sources in attempting to clean up the guidelines of this program to ensure that everybody understands whether they can qualify or not and which type of jobs are going to qualify etc? We need that continuously.


And, Mr. EB5 Regional Center Program. Stenger, we in Vermont-- again, a small State, but we have the State government involved with the Vermont Regional Center. Does that include benefits to Vermont's program? Mr. Stenger. The truth that the State of Vermont is the regional center administrator, and in fact I presume you would certainly call it the proprietor of the regional center, Full Article has been an incredible benefit.