Frequently Asked Questions

Prospective applicants for the Investment Visa Program have many questions, and we are happy to provide answers to the most common questions. If you have other important questions, please contact us at the address shown at the end of this page.

	The Program and the Application Process
	1.		What is the EB-5 Investment Visa Program?
	2.		How many immigrant visas are allotted for this classification?
	3.		How is this program different from the L-1 (Manager Transfer) or E-1/2 (Treaty Trader Investor) programs?
	4.		Who receives the permanent residency ("green card")?
	5.		How long does it take for me and my family to receive the "green card"?
	6.		Are any countries excluded from the Program?
	7.		How does an investor apply for the EB-5 visa?

	U.S. Residency
	8.		What are the benefits of a "green card"?
	9.		How long must I remain in the United States each year?
	10.		What is the difference between permanent residency and citizenship?
	11.		What is the difference between "conditional" and "unconditional" visas?
	12.		What are the tax implications of U.S. residency and my investment?

	Legal Services
	13.		Who will provide the legal and business services of the Investment Visa Program?
	14.		Who is legal counsel and what do they do?
	15.		What is the "condition," and what happens to my visa if my investment fails?"
	16.		How does the investor obtain the "unconditional" visa?

	Financial Issues
	17.		What is meant by qualifying investment "capital?"
	18.		What do the regulations mean by the term "invest"?
	19.		What is the investment return?
	20.		Are there any financing programs available?
	21.		May a promissory note qualify under the regulations as "capital"?
	22.		When may the investor exercise the "Sell Back" to exit the investment?

	The Business Enterprise
	23.		In which company must I invest?
	24.		What investment enterprises qualify under the regulation?
	25.		What is the Federally Designated Regional Pilot Center Program?
	26.		What are the obligations of the investor to participate in the investment?

	Investor Protections and Guarantees
	27.		What is an "escrow" account, and when does the investor transfer the money to this account?
	28.		How does the bank "escrow" account protect me against the risk of losing my money?
	29.		What insurances are provided?
	30.		What is the "bank assurance" and how does it protect me and my investment?

	Qualifications for the Program
	31.		What is meant by "net assets" ?
	32.		Must I have previous business experience or education?
	33.		What can disqualify us from participating?
	34.		Can I apply if I have been rejected or terminated in the past by INS for an L-l, B, or other visa?
	35.		Can I apply if I am currently out-of-status (i.e., I live in the United States, but do not have a current visa)?
	36.		What is meant by the requirement that the investor's assets be "lawfully gained"?

Visa Program Highlights -- Other Information -- U.S. "Green Card" USA Visa Program Immigration Qualifications "200% Success," Guaranteed Preliminary Visa Program Sign-up U.S. Immigration Law Questions and Answers Program Coordinators Center for U. S. Immigration 1908 Aubrey Place, Suite B-201 Vienna, Virginia 22182 USA CUSI@conexxus.com

The Program and the Application Process

1. What is the EB-5 Investment Visa Program? The Investment Visa Program takes advantage of the new immigrant visa category for alien entrepreneurs known as the EB-5 Immigrant Investor Visa, created by the Immigration Act of 1990. In general terms, the EB-5 program requires an alien to "invest or be actively in the process of investing," either US$1,000,000 or US$500,000, which is "at risk" in a "new or existing business enterprise" that directly or indirectly results in the creation or preservation of ten full time (at least 35 hours per week) jobs for a two year period. (return to question list for the Program)

2. How many immigrant visas are allotted for this classification? The EB-5 program allots 10,000 visas per year for aliens whose qualifying investments result in the creation or preservation of at least ten full-time jobs for U.S. workers. Three thousand immigrant visas are set aside for aliens who invest in areas of high unemployment or qualifying rural areas. (return to question list for the Program)

3. How is this program different from the L-1 (Manager Transfer) or E-1/2 (Treaty Trader Investor)? Participation in the Investment Visa Program yields almost immediate Legal Permanent Resident (LPR) status. In contrast, the E-1/2 Treaty Investor and Treaty Trader programs allow for non-immigrant status only. When the qualifying trade or investment ends, so does the non-immigrant status. Likewise, the L-1 is a non-immigrant classification. Unlike the E-1/2, an L-1 alien can apply for classification as a Multinational Executive or Manager. If such a case is approved (which is becoming more difficult due to the high number of fraudulent cases and a resulting tightening of the review process) the alien may apply for permanent resident status. (return to question list for the Program)

4. Who may receive the permanent residency ("green card")? An individual or a family (husband, wife and any unmarried children under the age of 21) may receive permanent residency. It is also possible for adopted children to be included in the family. (return to question list for the Program)

5. How long does it take for me and my family to receive the "green card"? The average processing time for clients of this Program is six months. The initial application and petition are usually approved in 60 days, with the balance of the time being required for completing other Immigration and Naturalization service (INS) and Department of State forms and for scheduling the interview. (return to question list for the Program)

6. Are any countries excluded from eligibility? Residents of only a few countries are excluded (e.g., Iran and Iraq). In most cases, however, if the applicant is able to leave the excluded country and has the necessary capital to qualify under the program, legal counsel will be able to help the applicant qualify for visa approval. (return to question list for the Program)

7. How does an investor apply for the EB-5 visa? To qualify for an EB-5 (immigrant investor) visa, an investor must apply to the United States Immigration and Naturalization Service (INS) and submit a number of required elements including: immigration forms, personal financial information, business plans, a legal brief on qualifications under the proposed application, geographic statistics and other supporting evidence. Statistics recently released by the INS reveal that only approximately 50% of all EB-5 applications have been approved by the INS in the past several years. However, in contrast to other programs, the Investment Visa Program has achieved a 100% success rate. Every investor and his or her family participating in this Program have received their "green cards" when proceeding through the prequalified investments. Equally important is the fact that our servicing affiliate, through the designated legal counsel, prepares all the required petition materials for the investor. (return to question list for the Program)

U.S. Residency

8. What are the benefits of a "green card"? Each person has his or her own reason for wanting permanent residence in the United States. But the common reason is the many benefits to the individual and the family: The safety, education and freedom that the United States offers is superior to that of any other country in the world. All legal permanent residents under the Investment Visa Program enjoy the same benefits as every other U.S. resident. The United States is a "safe harbor" for your family as well as your personal and business investments. Any member of the family with a "green card" can enter the United States at any time and stay as long as he or she wishes. Investors have constant and easy access to the United States for personal, trade and business purposes. Investors may work, live or own their own business anywhere in the United States -- e.g., California, Hawaii, Florida, New York, Washington, Texas, etc. The United States has internationally recognized colleges and universities for both basic education and graduate study. As a resident, the investor can benefit from lower tuition costs. The tuition savings can easily equal the initial investment required for the Investment Visa Program. The cost of living in the United States is less than that of most large industrial nations. Consumer goods and services and housing are significantly less expensive than comparable services and goods in most other countries. Students may work in the United States while they attend college, and then continue to work after college. This enables the student to pay for part of his or her education and to work while attending graduate and post-graduate studies. Permanent residency facilitates admittance to medical school, which is often more difficult for foreign nationals. The United States provides many financial, social and educational entitlements, including public schools, health and medical attention, social security and education. After obtaining permanent residency, the investor has the ability to bring other family members to the United States after proper application. The investor can also obtain U.S. citizenship after five years. The United States offers economic diversity, excellent economic opportunities, a superior standard of living and a variety of climates. Permanent residency requires no renewal or reapplication. Other U.S. non-immigrant visas such as E-2 and H never result in permanent residency and require additional filings with INS. Furthermore, U.S. immigration laws may change and prevent future approval for other types of visas where renewal of visa is required. For this reason, a permanent visa is an important advantage. (return to question list for U.S. Residency)

9. How long must I remain in the United States each year? The first requirement of any investor after receiving the visa at the United States Overseas Consular Office is to enter the United States within 180 days of visa issuance from the U.S. Embassy. The investor must then establish residency in the United States. The United States is unlike Canada, because the investor is not required to have a physical presence in the United States for any given amount of time (Canada's requirement is 183 days out of each year). However, under U.S. law the investor must establish and maintain the "intent" to be a resident. Evidence of intent to reside includes opening bank accounts, obtaining a driver's license, obtaining a social security number, paying state and federal taxes and renting or buying a home. The U.S. resident may work overseas if required, based upon the nature of his or her business or profession. For those permanent residents living outside the United States, the investor and family should probably reenter the United States no less than once every six months. The longer the investor and family are present in the United States, the less likely the government is to claim that the investor "abandoned" the United States as a permanent residence, thereby endangering his or her "green card" status. In some cases, investors may seek the issuance of a "reentry permit," which allows the INS to grant permission to remain outside the United States for as long as two years without having to reenter the United States to maintain permanent resident status. (return to question list for U.S. Residency)

10. What is the difference between permanent residency and citizenship? There are two ways to become a U.S. citizen. One is by being born in the United States or being born to a U.S. citizen. The other way is by naturalization. In most cases, the first step in becoming a U.S. citizen through naturalization is to become an Legal Permanent Resident. Five years of permanent residency is one of the basic requirements for qualifying for naturalization. A second requirement is maintaining a physical residence in the United States for 30 months during the five years prior to the naturalization petition. Once he she is a U.S. citizen, an individual is entitled to benefits including the right to vote and to hold public offices. (return to question list for U.S. Residency)

11. What is the difference between "conditional" and "unconditional" visas? Under the regulations, an investor who is approved for the EB-5 immigrant visa receives a "conditional green card" (which is actually pink in color!). The only difference is that the conditional "green card" must be reissued after two years. The cards are exactly the same in every other way, and offer the same rights and privileges. This process is based upon procedures established by the INS in other immigration contexts. For example, every marriage-based sponsorship case allows that the alien spouse initially receive a conditional "green card" for two years before the issuance of the unconditional card. The EB-5 Investor Visa Program works the same way. (return to question list for U.S. Residency)

12. What are the tax implications of U.S. residency and my investment? Any interest that is earned or profits on the investment that result in actual distribution of cash that are in addition to the investment may result in U.S. tax liability. The Partnership makes every effort to reduce taxes through other deductions for expenses and losses that the business may incur. In the event that taxes must be paid, they are generally minimal. It is extremely important to abide by the laws of the United States, which include not only immigration laws, but also tax laws. Since neither the Center for U.S. Immigration nor its affiliates are tax advisors and they are not able to provide tax opinions according to U.S. law, they will refer you, upon request, to a professional tax authority who will help to minimize taxes as much as legally possible. (return to question list for U.S. Residency)

Legal Services

13. Who will provide the legal and business services of the Investment Visa Program? Your legal and business services will be handled by the oldest, largest and most successful investment immigration company in the United States. Created shortly after the enactment of the Immigration Act of 1990, our servicing affiliate has been successful in obtaining legal permanent residence status in the United States for over 1,000 immigrant investors. This affiliate has a 100% success rate -- every client that has been processed through this Program has received visa approval. And these 1,000+ successful applicants represent approximately half of all investment visas in the United States! And through approved methods of financing, participation in the immigrant investor program continues to be an affordable reality for clients from around the world. (return to question list for Legal Services)

14. Who is the legal counsel and how do they help? Our servicing affiliate works with many qualified attorneys in the United States and throughout the world, including Gene McNary, Esq., the former Commissioner of the Immigration and Naturalization Service (1989-1993) appointed by U.S. President George Bush. The immigration legal counsel will perform the following services for each foreign national investor seeking permanent residence under this Program, and will do so under a separate legal retainer agreement between the investor and the attorney. Legal fees are fixed at a very reasonable cost. The services listed below will be performed in the United States and abroad and will continue until the investment terminates: Confer with and qualify investor and family for the U.S. immigrant visa program; Prepare and file with the U.S. Immigration and Naturalization Service (INS) the petition to classify the investor as an alien entrepreneur and thus qualify the investor for immigrant visa classification; Monitor and expedite, if necessary, the approval process at the INS and at the U.S. Department of State; Assist the investor in completing "Packet 3" (a set of documents forwarded from the Department of State to the investor and legal counsel) and in filing Packet 3 with the appropriate U.S. consular post for processing (e.g., Tokyo in Japan, AIT in Taiwan, and consular posts at Seoul, Korea, Hong Kong, etc.); Assist the investor in completing and filing "Packet 4" (the final set of Department of State documents), and prepare the investor and his family for the Department of State interview at the foreign consular post; Appear with the investor and family at the interview with the Department of State at the consular post overseas, and assist in the interview process or appear at the interview before the INS in the United States; Assist the investor and family in entering the United States and establishing lawful permanent residence in the United States; Assist the investor and family in removing the condition from the permanent resident status within the last three months of the second year following the commencement of permanent residence; Assist the investor in exercising the Sell Back, if that is the desire of the investor, and in obtaining the amount to be paid by the Partnership to the investor in connection with the Sell Back, or with the repurchase by the Partnership, should either the Sell Back or repurchase be exercised; and Assist the investor in filing any insurance claims that may be necessary. (return to question list for Legal Services)

15. What is the "condition" placed upon my visa, and what happens to my visa if my investment fails? The condition was originally based upon the immigration marriage laws in order to prevent fraud. Since the purpose of the investment is job creation, the INS does not want the investor to immediately withdraw his or her investment after receiving permanent residency. The law requires the investment to remain for a minimum of two years. The investments of the Investment Visa Program automatically qualify since all investments have a term of at least three years. In the event the investment fails and employment is lost, there are several different methods that can be used to protect the investor. First, the laws of the INS that relate to the removal of the condition allow for flexibility and good faith. Thus, it may be possible for immigration legal counsel to obtain the removal of the condition even though the employment is not sufficient, provided the investor has dealt in good faith. In any case, the Partnership warrants and agrees to transfer the investor to another investment at no cost to the investor, subject to INS approval, and legal counsel agrees to provide all necessary legal services to remove the condition -- even to the extent of refiling because of the transfer -- all at no cost to the investor. (return to question list for Legal Services)

16. How does the investor obtain the "unconditional" visa? After two years, legal counsel applies to INS for the investor to demonstrate that he or she has complied with the terms and conditions raised in the original EB-5 application. Specifically, the investor must demonstrate that he or she has continued to make all required payments of the note and that the requisite jobs have been created/preserved by the investment enterprise. This process was established to eliminate any visa fraud. Referring again to the marriage-based sponsorship example, the INS requires that before the permanent "green card" may be issued, the alien spouse must demonstrate after two years that the marriage is still valid. The Investment Visa Program is the same. Upon demonstrating that the investment is valid, the investor and family will be issued unconditional "green cards" that contain no expiration dates. Our servicing affiliate uses experienced legal counsel who have proven their abilities through their successes in obtaining unconditional "green card" status for many, many investors. (return to question list for Legal Services)

Financial Issues

17. What is meant by qualifying investment "capital?" The regulations define capital as cash, equipment, inventory, other tangible property, cash equivalents and indebtedness secured by assets owned by the alien entrepreneur. A debt will qualify as capital only when the alien entrepreneur is primarily and personally liable for the indebtedness. The regulations permit indebtedness secured by the alien's own assets to count as "capital." This rule allows bank loans and therefore provides greater flexibility for the investor who may have assets that are being used for other personal and business purposes and are not immediately available for investment in an immigration program. The bank loan also broadens the number of investors eligible for the EB-5 program. The Investment Visa Program meets all investment capital requirements through the use of initial cash investments complemented by a bank loan secured by the assets of the investor. For this reason, the investor in this Program must demonstrate to the bank a total net worth of at least US$500,000 that will meet the standard requirements of the bank for financing. This may include real estate or other real property, ownership of business assets, cash, stocks, bonds and other assets located inside or outside the United States or in the country of origin. (return to question list for Financial Issues)

18. What do the regulations mean by the term "invest"? Under the regulations, an alien is required to "invest" or be "actively in the process of investing" the required capital. The mere intent of investing does not meet this requirement. However, the INS does allow investors to demonstrate the "commitment of the required amount" at the time of filing the immigration petition to satisfy the regulations. The Investment Visa Program requires that the investor only invest an initial percentage of the required capital -- in some cases, as little as US$137,000, which includes all legal fees and costs, and which remains in a legal, interest-bearing Escrow Bank Account until the issuance of the immigrant visa. The difference between the initial capital investment and the US$500,000 total is satisfied through a bank loan, which can be arranged by our servicing affiliate. The costs for the loan are included in the original fees and costs and there is no additional interest expense. This procedure protects the investor and guarantees that his or her money is safe until the "green card" has been issued, as well as making the program affordable to most potential investors. (return to question list for Financial Issues)

19. What is the investment return? There are several investment options that are available through the Investment Visa Program. The amount of the return differs according to the amount of the initial capital that is invested and the term of the investment. In most cases the return is a guaranteed fixed amount. The investor should be cautious that the return offered by some companies may sound too good to be true. Generally, if it sounds too good, that is because there are problems and the investment is not secure but is extremely risky. The question that the investor should ask is why should a U.S. company that is financially strong seek funds overseas when great amounts of capital are available in the United States from banks, investment companies and Wall Street? Many returns that are presented by immigration companies are based upon projected returns. These projections generally never result and the investor loses his investment and potentially his "green card" status. A careful review of the history of the performance must be made. Our servicing affiliate is the only immigration company that has a documented return of over US$5,000,000 to investors in 1997. (return to question list for Financial Issues)

20. Are there any financing programs available? Because many investors have assets which are not immediately available and liquid, our servicing affiliate has arranged for qualified investors who are able to meet the requirements of the bank to obtain a loan for part of the investment. The investor must provide the initial cash -- which may be as low as US$137,000 and which includes all legal fees and costs. The financing is optional, but one way or another, the investor must complete the total cash investment of US$500,000 prior to the original application or prior to the application for the removal of the condition. If the financing option is chosen, it is arranged at no additional cost to the investor. (return to question list for Financial Issues)

21. May a promissory note qualify under the regulations as "capital"? A properly executed promissory note is recognized as a Contribution of Capital because it is a receivable and capital asset of the commercial enterprise in whose favor it has been executed. Currently, the INS is allowing notes to extend beyond the two-year conditional period in that such instruments represent Capital which is "at risk" under the regulations. In the past, the investor has been required to put up some amount of initial cash (as little as US$100,000) and then finance the difference or balance with a promissory note. Promissory notes are secured by the assets of the investor. Promissory notes have been accepted by the INS as meeting the capital requirements of the EB-5 program. However, INS regulations may soon require all capital to be invested prior to application, or prior to application for condition removal. Because of different interpretations of the law by government officers, the safest and best approach to assure approval is to have the total investment completed as soon as possible. Our servicing affiliate has arranged financing to enable the investor to have the total capital investment of US$500,000 completed prior to the original application or prior to application for the removal of the condition. (return to question list for Financial Issues)

22. When may the investor exercise the "Sell Back" to exit the investment? A "Sell Back" is a contractual right of an investor which allows for the selling of his or her interest back to the Partnership, triggered by the passage of specified time or occurrence. This right is often associated with a similar option known as a repurchase right. The repurchase right empowers the enterprise with the right to "buy back" the investor's interest at a specified time or event. The Investment Visa Program contains both Sell Back and repurchase rights that may be used by the parties to allow an investor to exit the investment upon the passage of a certain number of years specific to the events. The investor agreements detail the terms and conditions that initiate this right. The investor has the absolute right to exit the investment either in 36 or 60 months, after having completed all required investments and having fully complied with every aspect of immigration law. The Sell Back and repurchase rights have been incorporated for the benefit of the investor. The Sell Back price is predetermined as a fair market price, and is sufficient to enable the investor to pay off the financing arranged after the investor completes the initial payment. (return to question list for Financial Issues)

The Business Enterprise

23. In which company must I invest? Our servicing affiliate provides each investor with prequalified business enterprises that meet the requirements of INS. The law specifically requires the businesses to be either new, expanding or troubled and further defines the requirements for each of those categories. (return to question list for the Business)

24. What investment enterprises qualify under the regulation? Under the regulations, there are three types of qualifying investments for investor visa purposes: the new commercial enterprise, the expansion of an existing business, or the rehabilitation of a troubled business. They are defined as follows: The "new commercial enterprise" is either the creation of an original business, or the subsequent or simultaneous restructuring of an existing business such that a new commercial enterprise results; The "expansion of an existing business" may qualify through the investment of the requisite dollar amount such that a 40% increase in either net worth or the number of employees results; or The "troubled business" investment requires the requisite dollar amount in a business which has been in existence for at least two years, and for a period of 12 to 24 months prior to the filing of the petition, has demonstrated at least a loss of profit equal to 20% of the business net worth. A qualifying investment may utilize any one of these three types of business enterprises. However, most recently, investors have successfully utilized either the "new business" or "troubled business" situation, which qualifies for special, advantageous treatment by the regulations in terms of the job creation requirements. Prior investments have included restaurant chains, nursing homes, national hotel franchises, manufacturing companies and transportation companies. Our affiliate constantly looks for the best investments for immigrant investor clients. The current focus is on new businesses that are involved in export trade, affiliated with a Federally Designated Regional Pilot Center and utilize "indirect employment" requirements under the law. (return to question list for the Business)

25. What is the Federally Designated Regional Pilot Center Program? Our servicing affiliate provides many types of investments, including those that meet the requirements for the Regional Pilot Center. Businesses involved in the exporting of goods located in geographic areas approved as regional centers may meet the job creation requirements of the law using "indirect employment" based upon approved methodologies. The federally designated program center was approved by Congress under Section 610(c) of the Appropriations Act of 1993. In order to meet the requirements of the Regional Pilot Center law, investments focus on export businesses that are members of the World Trade Centers located in the United States in New York, New Orleans, Miami and Baltimore. (return to question list for the Business)

26. What are the obligations of the investor to participate in the investment? Under the regulations, the investor must be "active" in the management of the investment. The investor must engage in the management of the new commercial enterprise, either through day-to-day managerial control or through policy formulation. However, the regulations do specifically allow that an investor will qualify as a "limited partner" as defined in the Revised Uniform Limited Partnership Act. The Investment Visa Program meets all the regulatory requirements by enrolling the investor in the investment as a limited partner. This passive role allows the investor to continue to engage in his or her own business without needing to participate in the investment operations. Additionally, this allows the investor to live where he or she pleases, and gives him or her the option to enter and exit the United States without any obligation to manage the investment. Most importantly, the limited partner, like the corporate shareholder is only liable to the enterprise to the extent of the agreed-upon investment. This business structure protects the investor. (return to question list for the Business)

Investor Protections and Guarantees

27. What is an "escrow" account, and when does the investor transfer the money to this account? An Escrow Bank Account is a legal, interest-bearing account established in a bank to hold the initial deposit in trust until the completion of visa processing. This type of account is commonly used in the sales of real estate, businesses and personal property. The Investment Visa Program has established an Escrow Bank Account for the purpose of safely holding an investor's funds until such time as the visa has been approved by the overseas consulate or an office of the INS in the United States. Escrow accounts have been established at several leading banks both in the United States and overseas. Under the agreements entered into with the servicing affiliate, the investor's money is not authorized to be released from the Escrow Bank Account by the bank until the visa has been approved. This process was created to protect the investor. (return to question list for Protections)

28. How does the bank "escrow" account protect me against the risk of losing my money? The initial cash deposit from the investor is placed in a legal, interest-bearing Escrow Bank Account. When an Escrow Bank Account is established, the funds continue to belong to the investor; however, they arc committed to be placed into the investment upon visa approval. The attorney or bank has an agreement with the investor that requires the funds to be released from the account only when the visa is issued by the U.S. Department of State Overseas Consulate Office or the INS in the United States. In the event that the visa is not issued within 12 months of the initial filing, the bank or the attorney are under specific instructions and must return all funds in the account with interest to the investor. (return to question list for Protections)

29. What insurance is provided? The insurance policy provides for all the legal fees and costs up to a total amount US$37,000 to be repaid to the investor, not only in the event that the visa is not issued, but also in the event the condition is not removed. It also guarantees to the investor the return of the original investment amount up to US$100,000. The insurance continues through the removal of the condition. The insurance companies utilized by the Partnership are two of the largest multinational insurance companies in the world. This Program is the only one that provides performance bond insurance policies from AAA-rated multinational companies. (return to question list for Protections)

30. What is the "bank assurance" and how does it protect me and my investment? A guarantee or assurance for the return of the investment or some fixed amount of return is provided by the Partnership. Although the partnership guarantees the return to the investor, since most investors are not familiar with the business and its future success and profitability, the many investors prefer to rely upon a third party to guarantee the investment. The third party should be financially strong. The guarantee should be readily marketable with complete liquidity to enable the investor to immediately receive the return of the investment or what is promised without having to deal with attorneys, litigation and complex financial solutions that usually result in losses and failure. The bank assurance, provided by the Partnership, has all of the financially strong characteristics that allow the funds to be available at the time the Sell Back is made. Our servicing affiliate has arranged for guarantees and assurances from internationally recognized financial institutions, including the largest bank in the United States, Chase Bank, with assets in excess of $330 billion. Chase Bank will invest funds through their trust department to assure the investor that returns that are provided by the Partnership will be available at the designated time and in the correct amount. (return to question list for Protections)

Qualifications for the Program

31. What is meant by "net assets"? An investor's net assets, or net worth, can be determined from a simple calculation: the combined value of all things owned, minus the combined value of all liabilities (debts). The assets may be from any legal source, anywhere in the world: cash; gifts and inheritances; the net cash value of life insurance; the value of personal property such as jewelry, art and antiques; the proceeds from the sale of a business or real property (real estate); the value of real property, including the family home and any additional homes; the value of securities such as stocks and bonds, including stock in a family business. (Naturally, funds that come from such sources as smuggling or the sale of illegal drugs are not allowable.) Verification of assets and the sources of those assets will be required. It will not be necessary to document or reveal all assets, but only enough to meet the requirements of the INS and the Program -- an absolute minimum of US$535,000. The easiest proof of net worth, of course, is a bank account with actual cash. (return to question list for Qualifications)

32. Must I have previous business experience or education? Under the regulations, the investor is not required to have any prior business experience. Nor is the investor required to demonstrate any minimum level of education. The only requirement for the investor is that he or she have the required net worth and initial capital. This is a significant point of difference between the U.S. and Canadian programs. (return to question list for Qualifications)

33. What can disqualify us from participating? There are very few disqualifying or exclusionary events under the law. A criminal record involving crimes of moral turpitude is disqualifying, unless it can be proven that the crime was political in nature or occurred over 20 years prior to the application. A few major medical problems might also exclude an applicant, but for the most part this can be avoided if it can be proven that the applicant will be supported by others and therefore avoid being a recipient of government medical assistance. Applicants should seek advice of their legal counsel to determine what waivers may be available for eligibility. (return to question list for Qualifications)

34. Can I apply if I have been rejected or terminated in the past by INS for an L-l, B, or other visa? Rejection in the past does not disqualify the applicant, unless the reasons were related to immigration fraud or other major problems. The applicant, if properly represented by legal counsel, can generally receive a waiver. It is most important that all problems of a criminal or medical nature be reported to our servicing affiliate and legal counsel in advance of application. (return to question list for Qualifications)

35. Can I apply if I am currently out-of-status (i.e., I live in the United States, but do not have a current visa)? Out-of-status nationals are no longer permitted to apply for permanent residency from within the United States. They must first return to their country of origin and apply through the United States Embassy there. Examples of "out-of-status" individuals are students and tourists who no longer have valid visas because they remained in the United States after their visas expired. In cases like this, INS currently imposes a penalty fee of approximately $1,000; however, the remainder of the application is the same. Once the petition is approved in about 30 to 60 days and an individual's adjustment of status application is filed, the applicant becomes legal and even qualifies for work authorization or advanced parole. (return to question list for Qualifications)

36. What is meant by the requirement that the investor's assets be "lawfully gained"? Under the regulations, the investor must demonstrate that his assets were gained in a lawful manner. This requires the investor to prove his or her net worth was obtained through lawful business, salary, investments, property sales, inheritance, gift, loan or other lawful means. The Investment Visa Program program requires investors to reveal where and how they received their assets in the amount of at least US$500,000 that are used for qualifying for the program and the bank loan. This may be accomplished through certificates by the investor's licensed accountants, lawyers, court records, salary statements, tax statements, real estate documents, etc. (return to question list for Qualifications)

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