An immigration agent is an individual or entity that assists foreign investors with the EB-5 visa process. Immigration agents may provide a range of services, including identifying EB-5 investment opportunities, conducting due diligence on EB-5 projects, and preparing and submitting EB-5 applications on behalf of investors. It is important for investors to exercise caution when working with immigration agents, as there have been instances of fraud and misrepresentation in the EB-5 industry. Investors should do their own research and due diligence before engaging an immigration agent or investing in an EB-5 project.
In the Reform and Integrity Act of 2022, immigration agents are referred to as promoters, and must register with USCIS using form I-956K.
The new guidance requires promoters to disclose any compensation they receive in connection with the EB-5 project, including any fees or commissions paid by the project developer. This is to ensure that investors are aware of any potential conflicts of interest that may arise from the promoter's compensation structure.
Overall, the new guidance imposes a higher level of responsibility and accountability on promoters in the EB-5 program to ensure that investors are provided with accurate and complete information about the projects they are investing in, and to ensure that the projects are in compliance with all applicable securities laws and regulations.
