Agents understand that there is no perfect project.
Every project has strengths and weaknesses. Many
weaknesses are acceptable to agents. However, if
developers are not truthful and agents find out later by
another source, agents will not trust you or want to work
with you again in the future.
While there are many earnest project principals with
great projects, the few bad apples in the industry have
made agents and investors apprehensive about EB-5.
Many agents are afraid to market EB-5 projects and are
recommending investors to immigrate to other countries.
Investors themselves are looking at other alternatives.
"...Respect is
another key
element in the
Chinese culture."
EB-5 investments are a long-term commitment. Investors
are entrusting their money in a stranger’s hands. If they
feel that this industry is full of fraudulent projects, the
current demand will die. There will be no more market
for EB-5.
We need to work together as an industry to build a
reputation of honesty and integrity. If we want to thrive
in the Chinese market as a whole, we cannot tolerate any
degree of fraud.
EB-5 is a wonderful vehicle for investors to come to
the United States and for the United States to grow
and develop economically. With the right level of
commitment, understanding of the Chinese culture, and
integrity, project developers can thrive in the Chinese
market while helping investors and the U.S. economy.
Winnie Ng
Winnie Ng is the Chief Counsel of
the Manhattan Regional Center and
its associated EB-5 projects. She
manages the legal documentation
preparation process and serves
as the compliance officer for EB-5 projects and its
investors. She has also provided legal advice to
project principals and developers during the set-up of
regional centers and projects. Ng is fluent in English,
Cantonese and Mandarin.
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