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The regulation states you have got to invest for 2 years and that is all (EB5 Regional Center Program). Second, at one of the stakeholders conferences place on by USCIS, I asked a concern: Have you done any type of study on just how much money stays beyond the 2 years? And the answer was no


Thank you, Mr. Chairman. Let me just ask, Mr. Divine, you hear this criticism that the cash just has actually to remain spent for 2 years. Mr. Divine.






It is not any kind of less complicated always than when it remained in the conditions that led to the international financiers being the best choice for financing the important things to begin with. Yet, hey, if it is a successful task, it earns money, and it can be marketed, I do not see any reason the project need to not be able to be marketed and for the financier to be able to realize the return of his investment, possibly acquire on his financial investment, much like every various other financier.

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If you have a job that is moneyed directly via the Immigrant Financier Program and it is believed to be using undocumented workers, Migration and Customs Enforcement could investigate the company, could they not? Mr. Divine.


Mr. Divine. Every one of these companies is required to complete the I-9 type, but USCIS goes a step better and does a check of some kind that led to the case that has been pointed out. I am not a witness below, however I am so struck by Mr.

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I mean, Indicate recommend that advise of you actually-- In fact North, in your case, instance out obtain inside the look here Beltway and go up there and talk with chat of these people.


They will say, "We have actually obtained about 9 people here, and we have actually been here because 5 o'clock today, Mister." [Giggling.] Chairman Leahy. Not quite what an illegal alien could be claiming. As a matter of fact, I believe Mr. Stenger would certainly state that of his British financiers was assuming, "Are all of us speaking the exact same language here?" Mr.


I asked Mr. Stenger this. Let me ask you what your experience is as a former agency authorities. What does it do if Congress maintains running up against a final reauthorization? In this case it would be, I assume, September of next year, September of 2012. What does that do to a firm trying to provide a program if Congress waits until my response the last few days to reauthorize it? What is the functional effect? Mr.

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I indicate, the company basically is-- USCIS is a fee-funded firm, so it is essentially kind of running a service and needs to cover its costs with the earnings that is produced. To run this program appropriately, USCIS requires to staff up in a big way, handling the volume that is already there and preparing for the raised quantity of even more financial investment as we obtain also near fifty percent of the 10,000 visas that are readily available in this group.

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I suggest, that has reached really feel like a contrasting circumstance, and you would certainly visualize that it is going to hold somebody back. Now, I am not stating that they are keeping back, and I recognize that they are attempting to staff up since I make sure they think and wish that the program will certainly be reauthorized for the advantage of the Country.


And is that actually where they are going to be able to invest their time and resources in trying to clean up the guidelines of this program to ensure that everyone understands whether they can certify or otherwise and which sort of jobs are mosting likely to certify etc? We require that consistently.


And, Mr. Stenger, we in Vermont-- once more, browse around this site a tiny State, however we have the State government involved with the Vermont Regional. Mr. Stenger.