Thursday, December 10, 2015
Report from China: Is EB-5 dead?
Many Chinese migration agents and investors are anxious and nervously watching the movements of US Congress on the proposed EB-5 regional center legislation. In last two days, we conducted survey with Chinese migration agencies and leaders of exit and entry service associations on the potential issues that may have serious impact on their businesses. The utmost concerns that migration agents have are 7-year tax return requirements and grandfathering issues. Many service providers firmly believe that the tax return requirements will definitely destroy their US EB-5 business if the bill becomes into law. The majority of Chinese clients will not be able to truthfully produce 7 years of tax return documentation. Some migration agents believe this clause may actually encourage documentation fraud. To discuss how to re-position your current projects or pending projects in Chinese market, call us today!