EB-5 Migration agents act as intermediaries to promote regional center projects abroad and assist investors with paperwork. Licensed offshore agents primarily operate in countries like China, Vietnam, and India. The EB-5 Reform and Integrity Act of 2022 mandates disclosures, background checks, and certifications for these agents, while those within the US must follow SEC regulations. Investors are encouraged to verify agent-provided information to protect their immigration prospects.
The EB-5 program, aimed at attracting foreign investment and stimulating US economic growth, depends on migration agents to match investors with suitable projects. However, transparency and conflict of interest concerns have arisen with some agents and investors. These issues include withholding information or providing misleading advice, often due to undisclosed financial incentives.
The EB-5 Reform and Integrity Act of 2022 addresses these concerns by implementing changes to enhance transparency, accountability, and oversight. It requires migration agents and promoters to disclose conflicts of interest, fees, and commissions, and to undergo background checks and certifications to uphold ethical conduct.