EB-5 Immigration Agents: Role and requirements
EB-5 immigration agents introduce foreign investors to regional center investments and are compensated usually in the form of some or all of the administration fee charged to the investor.
They may also provide information about the EB-5 program's potential benefits and risks and assist investors with the due diligence process of evaluating potential EB-5 investment opportunities.
However, historically, many agents have been accused of either not properly understanding or even purposely misrepresenting the EB-5 program out of self-interest, especially with processing times associated with backlogged countries like China.
Agents and the Reform and Integrity Act
The EB-5 Reform and Integrity Act of 2022 (RIA) addresses promoters, including agents, in an effort to bring more transparency and accountability to the Regional Center Program.
As a promoter, all EB-5 agents must now with USCIS with an I-956K, Registration for Direct and Third-Party Promoters. This form has a “bona fides” section which helps determine that an agent is not a “bad actor.”
Also, the RIA requires that all promoters, including agents, disclose all fees they are paid for every investor and that this amount is disclosed to investors in a document that will be filed with the investors' I-526E petition.