After researching the many sources available to Wright Johnson and obtaining the economic and demographic information pertinent to the client project and quantifying, through economic analysis, the data confirming the validity of the projected jobs to be created and revenues produced. The documents necessary to the application process are prepared that will also be integral to the marketing of the Regional Center and/or projects and to investor acquisition.
What is included in a complete USCIS submission?
The following is a list of elements that Wright Johnson team members deliver to our clients.
1. Business Plans
2. Private Placement Memorandum
3. Economic Impact Studies
4. Investors Website Development
5. Job Tracking Software Configuration and Set Up
6. Software Licensing
7. Logo, Business Card, and Brochure Design
8. Escrow Agreements
9. Operational and Marketing Plans
10. Limited Partnership Agreement
11. Expert personnel (priceless)
Wright Johnson has identified these elements as necessary for not only regional center approval, but the marketing to and acquisition of the immigrant investor. In other words, a complete package, the complete solution, for EB-5 submission and sales. Wright Johnson is the only firm that has the actual “hands on” experience and know how to offer this complete solution.
1. Business Plans: USCIS started to require business plans to be submitted with all specific projects seeking I-526 Exemplar approval in the summer of 2009. By the summer of 2010 they began to also require hypothetical business plans for industry sector designations. By the end of 2011 USCIS has placed increasing tougher scrutiny on EB-5 business plans and has begun to evaluate them for feasibility as well as immigration compliance. These business plans contain many elements that are found in a typical business plan by the intent of the plan is much different. The plans are written more for the USCIS adjudicator as the reader than they are for the individual investor.
2. Private Placement Memorandum: USCIS requires a sample PPM, including the subscription agreement, for regional center approval. The PPM must have language that is specifically written for the EB-5 program. The PPM is the legal document that provides the investor with the risks involved with any investment and the rules that govern the regional center. Wright Johnson works closely with the leading securities attorneys in this very specialized field. Wright Johnson knows what needs to be done.
3. Econometric Studies: USCIS requires a specific econometric study of all specific projects to be done within the regional center. One of three methodologies may be used:
A. IMMPLAN
B. RIMS II
C. REDYN
Wright Johnson uses both IMPLAN and RIMS II for EB-5 Applications.
The IMPLAN methodology is widely considered the industry standard. IMPLAN is used by such private and public entities as Dean Runyan Associates, Wal-Mart, the State of California, and the US Government. Excellent examples of the diversity of organizations that have a need for the detailed analysis this program provides. An important advantage of IMPLAN over the other methodologies, as it impacts you the applicant for regional center approval, is the customizability and multi regional analysis that is available in IMPLAN.
The RIMS II methodology is widely used in the EB-5 world. RIMS II is a simpilar methodology and is the only methodology that USCIC adjudicators can replicate. Wright Johnson team member Michael Evans has completed over 200 RIMS II studies for EB-5 clients. An important advantage of RIMS II over the other methodologies, as it impacts you the applicant for regional center approval, is generally higher multipliers in the construction industry sector.
Hypothetical Econometric Studies: USCIS requires the completion of a generic use economic study for each proposed use in the regional center. A sample project must be done to gain approval for each proposed industry sector.
EXAMPLE:
The regional center has done a specific econometric study for a hotel that the regional center plans to build. Additionally, the regional center is requesting approval to build retail shopping centers in the future even though the regional center does not have a specific project planned at time of submission.
The applicant is required to do an economic analysis on a hypothetical retail shopping center. In other words you have to pretend you are building a shopping center and submit an economic analysis of the size, scope, and employment benefits that are associated with this future shopping center. This analysis must be based upon information about the type of shopping center that the applicant plans to build in the future and must be supplied buy the applicant.
4. Investor Website Development: We include an informational website that highlights the regional center in the package. Sample websites can be viewed at www.californiaglobaleb5.com, www.adreamfund.com, www.adreamfundlasvegas.com, www.orlandoeb5investments.com. The website includes FAQ, Contact Us, General Information, Links to USCIS, and downloadable brochures and
PDFs.
5. Job Tracking Software: We are the only firm that has built a software solution to the very important requirement by USCIS that the applicant provide a plan of how the regional center will monitor and prepare quarterly reports detailing the ongoing employment of the regional center. In the past regional centers have lost their designation because they were unable to provide USCIS with current employment reports on an ongoing, up to the moment basis. Additionally, it is a requirement of USCIS that the regional center monitor and track the location of the regional center foreign investors and their current status as to investment, dividends, etc. Wright Johnson has developed a customized online database that prepares investor and employee reports with a push of a button. Requests for information are the norm for the USCIS, so the regional center must be ready with the data immediately. The hosted application is built on the FileMaker platform and hosted by triple8.net. We have also completed development of the iPad and iPhone applications of the software. No one, again, no one provides this service.
6. Software Licensing: Software Licensing means that the FileMaker program provides you, the user with a unique serial number. This is important reference online hosting, as security features in the software will not allow the program to be hosted multiple times with the same serial number. With a complete Regional Center application WJ will include 12 months of software licensing.
7. Brochures, Biz Cards, Logo Design: We also design a logo, business cards, and brochures for the regional center. Our experience means Wright Johnson knows the salient points to emphasize in the printed material. Wright Johnson is a 100% complete package.
8. Escrow Agreement: Wright Johnson has formed a partnership with NES Financial services and their complete escrow solution. We currently have in place an agreement to allow WJ clients to set up EB-5 Escrow Accounts free of charge.
9. Operational and Marketing Plans: USCIS requires a document outlining how the regional center will administer itself. Again, Wright Johnson, through direct dealings with the immigration attorneys, is well aware of the points of emphasis that are relevant to the USCIS and will include the necessary information with the submission. Year One Marketing Plan & Budget: Wright Johnson prepares the material that USCIS wants in the year one plan and budget. Wright Johnson team members also make frequent trips to China and maintain a list of immigration brokers that is approaching 300 at this point.
10. Expert Personnel: USCIS is vague and guidelines are not explained. In fact, knowing the “minefield” that is the government maze is only gained through experience. Regional Center approval is almost impossible to achieve without expert consultation. Wright Johnson can guide the client through that maze resulting in regional center approval.
11. Limited Partnership Agreement: Wright Johnson can prepare the corporate partnership agreement documents. The applicant may wish to have their own corporate attorney complete such an agreement. The Wright Johnson team knows the proper format designed for USCIS approval. |
