Tuesday, August 10, 2010

Regional Center applicant calling

I guess I've heard them all.

Q. "I've practiced immigration law for awhile. How do I do an application for a regional center?"
A. How much time and money have you got?

Q. "Do you have a regional center application I could study?"
A. No.

Q. "Would you please mail a copy of your regional center application to me?"
A. No.

Q. "There's nothing about how to do this anywhere is there?"
A. Not much.

Q. "When I put my regional center application together, where do I send it?"
A. California Service Center, U.S. Citizenship and Immigration Services, Laguna Niguel, CA

Q. "How long does it take to get a regional center application approved?"
A. Plan on six months. With proper exercise of local and state support, maybe four or five.

Q. "Do you have a regional center application I could take a look at?"
A. No.

Q. "Well, that's a bit more than I wanted to spend. Are you sure it's that expensive to do a regional center application?"
A. Yes.

Q. "Why do I have to hire an economist?"
A. Tell me you didn't just ask that question.

Q. "Why do I need a lawyer. Can't I do this myself?"
A. Yes.

Q. "We want to set up a regional center for our condo project. Do you do that?"
A. Yes, but not for condo projects. Call me in three years.

Q. "What kind of regional center do I want to set up?"
A. There are several business models: (1) REIT; (2) loan investment vehicle, usually a limited partnership; (3) equity investment vehicle, a limited partnership, limited liability company, or corporation; (4) venture capital fund; (5) EB-5 compliance consulting service company.

Q. "Where do I find investors?"
A. You will have to spend a considerable amount of your time and money to find investors. You might look in China, South Korea, and India.

Q. "Do I need to do a background check on investors?"
A. No, but it might be prudent to do so. Once source for this is ChoicePoint.

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