You may have a terrific project to present, but if it's not introduced at the right time, you might not have an interested audience. As they say, “Timing is everything.” It’s a good idea to assess the best time to introduce a new EB-5 project. There are two major periods during which an EB-5 project can be successfully introduced in Mainland China: February and September. In February, many Chinese families gather to celebrate the Chinese New Year. If a project has been introduced to them beforehand, they can take the opportunity to consult and make a decision together as a family. Families spend anywhere from three to 15 days together during the lengthy New Year celebrations.
In September, many wealthy Chinese HNWIs begin searching for a university or college for their children. Some may visit EB-5 Agencies in Mainland China to try to find suitable colleges and universities in the U.S. Given the need for a student visa, this makes September a good time to present an EB-5 opportunity as well.
Several traditional Chinese festivals are celebrated throughout the People's Republic of China. They include:
Chinese New Year’s Eve: Last day of the lunar year Spring Festival: 1st day of the 1st lunar month Lantern Festival: 15th day of the 1st lunar month Dragon Boat Festival: 5th day of the 5th lunar month Double Ninth Festival: 9th day of the 9th lunar month Magpie Festival: 8th day of the 9th lunar month Mid-Autumn Festival: 15th day of the 8th lunar month Qingming Festival: 104 days after the Winter Solstice Winter Solstice Festival: 7th day of the 11th lunar month Laba Festival: 8th day of the 12th lunar monthIntroducing an EB-5 project a few weeks before any of these important holidays will allow potential clients time to consider your project during their time off from busy schedules. These holidays are also good times to invite them to visit the U.S. to have a closer look at the project. Even though February and September are typically the most productive months of the year, EB-5 Agencies in Mainland China are introducing new projects to clients every month. Agencies focus on the first ten days of every month to approach potential clients with projects. As a general rule, culturally, the end of the month is not considered to be a good time for this type of business to be conducted. The Chinese people are accustomed to projects being introduced at beginning of a new month.
Christmas holidays are celebrated throughout the world. China is no exception. This can be a good time to introduce an EB-5 project to the market through an Agency because many HNWI Chinese plan overseas trips during this time. This may be yet another opportunity to invite potential clients to the U.S. to have a look at the project site.
An EB-5 business planner might consider introducing a new project to the market around the beginning of a new year in January. During this time, many HNWI are planning their finances for the New Year, so it may be easier for them to allocate the EB-5 investment requirements in their budget. Another holiday during which a new project can be introduced is Valentine's Day, when many Chinese men like to surprise their loved ones with lavish gifts. The surprise could be the EB-5 project idea and the opportunity to move to the U.S., provided that you have introduced the project idea in time.
An EB-5 Agency in Mainland China might also carry out big promotions during the year to attract more customers. For example, they might organize a celebration of the anniversary of the EB-5 Agency’s founding. During this ceremony they might showcase their achievements, and invite some of their wealthy client base to see the new EB-5 opportunities they now represent.
Keep in mind, the assumption here is that you have already established at least a cursory relationship with some Chinese clients to the extent that they are, at minimum, aware of who you are and what projects you represent. Unless you have established an office in China, the initial introduction of a project to Chinese HNWIs will have been done by a Chinese EB-5 Agency.
This is an extract from the book “How to Find Chinese Investors, Agents & Clients for Your EB-5 Projects & Services: A Practical Guide for Regional Centers, Attorneys, Developers and Businessmen”
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