When an EB-5 Regional Center decides to promote its EB-5 project in Mainland China, it needs to contact an EB-5 Agency in China. In this section, we will explain why that is necessary.
Basically, an EB-5 Regional Center has two options. It may either establish a local branch company in Mainland China, or it may partner with an existing Agency in China. The question is, “Which provides the better chances for success?”
First, it's important to note that China is a very large country. There are morethan 2,000 Agencies in the EB-5 visa and U.S. Green Cards business. They are located in nearly every major city in Mainland China. Promoting an EB-5 project through an existing Chinese Agency has certain advantages. An existingAgency can help you to reach the target customers effectively because of their inherent understanding of and connections throughout the country. Many Agencies have resources in multiple cities in Mainland China. Such existing networks can expose your EB-5 project to a greater number of potential customers from the very beginning. As a rule, the first EB-5 Regional Center or project that is presented to the most clients has an advantage.
If your priority is to promote your EB-5 project quickly, then finding an existing reputable Agency in Mainland China is the best route to take, as it is likely to have a clientel of HNWIs waiting for the right project. Should you wish to operate directly in Mainland China, you will need to go through the licensing process required at different levels of Chinese government. It is reasonable to expect that it may take from several months to a year for the licensing and documentation to be completed. (We will discuss this in more detail in later chapters.) If time is of the essence with your project and, unless you already have a business resource in China and a good relationship with the Chinese government, finding an established Agency may be the most efficient and cost-effective option.
Partnering with a good Chinese Agency also helps to establish customer confidence, because the staff at the Agency understands the Chinese people, what motivates them, and what might unintentionally offend them. Gaining the trust of Chinese people is best achieved with the help of an Agency that has several years of service in Mainland China. A good Agency will promote your EB-5 project and handle the required paperwork. This enables you to concentrate on developing EB-5 projects that will be attractive to new investors. The better the provable profit forecasts are for your project, the more likely it is that the Agency will be able to find the right investors.
Partnering with an EB-5 Agency in Mainland China can be instrumental to your success. The benefits of having an alliance with an Agency in Mainland China include:
- An established relationship with the Chinese government and the U.S. embassy
- Familiarity with the entire EB-5 visa process
- Existing connections with HNWIs in Mainland China
The most important thing is not finding any Agency. It is finding the most reliable and the most beneficial Agency for you and your business.
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