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The law says you have actually got 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 question: Have you done any type of research study on just how much money stays beyond the 2 years? And the solution was no


Thank you, Mr. Chairman. Allow me simply ask, Mr. Divine, you hear this criticism that the cash just has actually to stay invested for 2 years. Mr. Divine.






It is none much easier necessarily than when it remained in the problems that caused the international financiers being the very best option for financing the point to begin with. But, hi there, if it is an effective project, it earns money, and it can be sold, I do not see any kind of reason why the project need to not have the ability to be marketed and for the capitalist to be able to understand the return of his financial investment, perhaps gain on his financial investment, similar to every other capitalist.

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If you have a project that is moneyed directly with the Immigrant Investor Program and it is thought to be employing undocumented employees, Immigration and Customs Enforcement could check out the employer, could they not? Mr. Divine.


Chairman Leahy. Yet that would certainly coincide with any kind of firm. Mr. Divine. Every one of these companies is required to complete the I-9 type, yet USCIS goes an action further and does a check of some kind that led to the situation that has actually been pointed out. Chairman Leahy. I am not a witness right here, however I am so struck by Mr.


I mean, I advise that every one of you in fact-- Mr. North, in your situation, venture out from inside the Beltway and go up there and speak with several of these people. For one point, you do not have a lot of unlawful immigrants that quite have the Vermont accent you listen to around there, especially when they speak about their grandparents who live there, and moms and dads and so on.


They will certainly state, "We have obtained about 9 of us below, and we have been below considering that 5 o'clock today, Mister." [Giggling.] Chairman Leahy. Not rather what an illegal immigrant may be saying. I think Mr. Stenger would certainly say that one of his British financiers was assuming, "Are we all speaking the very same language here?" Mr.


I asked Mr. Stenger this. Let me ask you what your experience is as a previous agency authorities. What does it do if Congress maintains meeting a final reauthorization? In this case it would be, I assume, September of next year, September of 2012. What does that do to a company attempting to provide a program if Congress waits until the last couple of days to reauthorize it? What is the practical effect? Mr.

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I see post mean, the company effectively is-- USCIS is a fee-funded firm, so it is basically sort of running a company and has to cover its expenditures with the revenue that is created. To run this program appropriately, USCIS requires to staff up in a large means, dealing with the volume that is currently there and preparing for the increased quantity of even more financial investment as we get back at near fifty percent of the 10,000 visas that are readily available in this classification.

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I mean, that has obtained to really feel like a conflicting circumstance, and you would certainly imagine that it is going to hold someone back. Currently, I am not claiming that they are holding back, and I understand that they are attempting to staff up due to the fact that I make sure they think and really hope that the program will certainly be reauthorized for the advantage of the Country.


And is that actually where they are mosting likely to be able to spend their time and sources in trying to clear up the guidelines of this program to ensure that everyone recognizes whether they can certify or otherwise and which sort of tasks are mosting likely to certify etc? We require that consistently.


And, Mr. EB5 Regional Center Program. Stenger, we in Vermont-- again, a little State, yet we have the State government entailed with the Vermont Regional Facility. Does that include advantages to Vermont's program? Mr. Stenger. The reality that the State of Vermont is the local facility check here administrator, and view publisher site actually I guess you would call it the proprietor of the local facility, has been a remarkable benefit.