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The regulation 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 type of research study on exactly how much cash remains past the 2 years? And the answer was no


Legislator Grassley. Thanks, Mr. Chairman. I wish to have a 2nd round. Chairman Leahy. . Allow me simply ask, Mr. Divine, you hear this objection that the cash just has actually to stay invested for 2 years. Has that been your experience? Mr. Divine. If money gets taken into a resort, as I was starting to explain earlier, the designer of that job would have to have the ability to discover somebody to purchase the resort or would certainly have to have the ability to discover someone to re-finance it with other money.






It is not any type of simpler always than when it was in the problems that brought about the international capitalists being the best alternative for financing the important things in the first area. However, hey, if it is a successful task, it generates income, and it can be sold, 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 investor.

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If you have a job that is moneyed straight through the Immigrant Capitalist Program and it is thought to be employing undocumented look at here employees, Immigration and Traditions Enforcement could check out the employer, could they not? Mr. Divine.


Mr. Divine. Every one of these companies is called for to complete the I-9 form, yet USCIS goes a step better and does a check of some kind that led to the case that has been mentioned. I am not a witness right here, however I am so struck by Mr.

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I mean, Imply recommend that all of you actually-- Really North, in your case, situation out obtain inside the Beltway and go up there and talk with some of these people.


Mr.


I asked Mr. Stenger this. Mr.


I mean, indicate agency in company is-- USCIS is a fee-funded agency, firm it is essentially kind of running a business and organization to cover its expenses with expenditures income that earnings generated. To run this program correctly, USCIS requires to staff up in a big means, dealing with the volume that is already there and anticipating the boosted volume of even more investment as we obtain also close to fifty percent of the 10,000 click reference visas that are offered in this category.

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I imply, that has actually got to helpful site really feel like a conflicting circumstance, and you would certainly think of that it is mosting likely to hold somebody back. Now, I am not saying that they are holding back, and I recognize that they are attempting to staff up because I make sure they believe and wish that the program will be reauthorized for the benefit of the Nation.


And is that truly where they are going to have the ability to spend their time and sources in trying to clear the policies of this program to make sure that everyone recognizes whether they can certify or not and which kinds of jobs are going to qualify and so forth? We require that consistently.


And, Mr. Stenger, we in Vermont-- once more, a tiny State, yet we have the State federal government included with the Vermont Regional. Mr. Stenger.