This article discusses a few tips to finding a reputable Chinese EB-5 agency.
New Chinese EB-5 agencies continue to form as the number of Chinese interested in migrating to the U.S. increases year after year. These Chinese EB-5 agents are not only fluent in English, but they are fluent in the legal language of the EB-5 visa application. They intricately understand each stage of the EB-5 Program process.
The ideal purpose of these Chinese EB-5 agencies is to qualify potential EB-5 investors and match them with a project that matches their interests and needs. Sometimes, however, in EB-5 investors must be wary of the agencies they look into. Not all Chinese EB-5 agencies are reputable, and even some (although a small number), are reputable, it's important to make sure they have your best interests in mind. You can protect yourself by remembering these tips:
Be wary of unlicensed or fraudulent EB-5 agencies. You may be able to research and find a Chinese EB-5 agency on your own, but before you step foot in any agencies, first contact the Chinese Bureau of Entry and Exit Administration under the Ministry of Public Security for a list of licensed EB-5 agencies.
- All agencies, under Chinese law, are required to be licensed by the Ministry of Public Security. If you skip this step, if you go straight to the EB-5 agencies, and you do not consult with the Ministry of Public Security to find a reputable agency, you may be putting yourself at risk. You may be susceptible to fraud. Unfortunately, some "agencies" have illegitimate licenses.
Be wary of an agency's reputation. Once you have your list of reputable Chinese EB-5 agencies, your next step is to visit the U.S. Embassy. You already know which EB-5 agencies are licensed; now you want to find out which EB-5 agencies have a strong reputation for operating ethically and legally.
Be wary of EB-5 Agencies that call themselves the "biggest" or the "best." There are no proof of claim laws in China like there are in the U.S.
Be wary of EB-5 Agencies that claim to have great "relationships" with the government. The term "relationship" can be misconstrued. If you think there might be something unethical occurring, avoid the agency.
Don't get pushed into investing in a project that doesn't match your business interests. Some EB-5 agencies in Mainland China select developers and Regional Centers based on who offered their agency the highest commissions.