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DALLAS, Nov. 07, 2019 (GLOBE NEWSWIRE) -- During this year’s Invest in the USA (IIUSA) Conference, Patrick Hogan and Noreen Hogan of CMB Regional Centers (CMB) were both invited to speak on panels about the current and future state of the EB-5 Visa Program. Patrick’s panel topic was “Investor Relations: Communication, Transparency and Record-Keeping, Taking care of your investor after “the sale.”” Noreen’s panel was about the new Targeted Employment Area (TEA) rules that will take effect on November 21, 2019. During the conference, CMB was presented an IIUSA I-829 Award for achieving I-829 approval success for CMB EB-5 investors in the past year. The removal of conditions on an EB-5 visa is considered the ultimate success in the EB-5 immigration process as makes the visa permanent. This was the eighth year in a row that CMB had investors with an I-829 approval. CMB’s first limited partner to receive an I-829 approval was in February 2011; today, CMB has subscribed over 5,500 investors in various CMB EB-5 partnerships with many in the process of achieving this ultimate success and over 1,200 investors have I-829 approvals.
During Patrick’s panel, he spoke on numerous topics including: exceptional investor communication, fiduciary responsibilities, SEC regulations and project transparency. These are all topics that CMB has developed what would be considered best practices and currently provides to all their investors. Patrick talked about the importance of transparency to limited partners and the importance of first hand communication. CMB provides all of our investors with several avenues of communication such as an internet portal to communicate and view posted reports and commentary on the EB-5 project. Additionally, an Investor Relations Manager is there to help them through the entire process until the investor makes it full circle. CMB also believes in partnership transparency, as they were the first regional center operator to practice the best practice of commissioning third party audits from a nationally recognized accounting firm, BKD, CPA’s and Advisors. CMB administers these audits on an annual basis for every CMB EB-5 partnership, back to our first Group A partnership in 2007.
During her panel, Noreen discussed the future of the EB-5 program after the new regulations take effect on November 21st. Noreen is President of CMB and has a Master’s degree in economics which served her well on this panel as she discussed how CMB is facing this new challenge and already has projects in the pipeline that will comply with the new restrictive project location and TEA rules. She also talked about CMB’s experience in underwriting and subscribing EB-5 investors in multiple project types, since CMB has previously taken on projects in TEA, non-TEA and rural areas. CMB may be the only regional center that can claim experience in all three. The changes anticipated with both new regulations and possible new legislation will affect all regional center operators, however CMB is well positioned with in-house counsel, and 3 experienced economists. In this time of uncertainty it is a comfort to work with experienced developers who have experience in not only their field of construction expertise but also have experienced working within the EB-5 framework. Noreen made the point on the panel to be prepared now and structure projects now for those future anticipated changes. These are important things to consider while looking for a trusted EB-5 regional center, especially with limited time to move forward if you are trying to beat the current deadline of the EB-5 program and new regulations. Patrick Hogan just wrote an article that discusses things you should know before investing with a regional center. If you would like to read this article: click here
About CMB Regional Centers
CMB is one of the oldest active regional center operators in the EB-5 industry with 22 years of experience. CMB has over 5,500 investor families from 102 countries that have chosen to invest in one of CMB’s 73 EB-5 investment opportunities. Of the families that have trusted CMB with their EB-5 pursuit, CMB has helped over 4,800 investor families achieve an I-526 approval, which allows them to apply for a permanent green card for themselves and their qualified family members. CMB has helped over 1,200 families achieve success of permanent residency in the United States and has returned capital to over 1,000 investors. There are very few regional centers that can come close to this level of success for their EB-5 investors.
CMB engages Prevail Capital, LLC, a broker-dealer registered with the SEC and a member of FINRA and SIPC, to be the administrative placement agent for all CMB EB-5 partnerships. If you would like to learn more about the EB-5 Investor Visa Program, please contact CMB Regional Centers at: Website, 1-309-797-1550 or Email Us.