UNDERSTANDING THE Asia CULTURE including Vietnam, Korea and China
There are gains to be made even in today’s dynamic & competitive EB-5 market. Consider that Korea has no retrogression and is upon a strong growth year. CN notes that Successfully marketed projects understand there is a big difference between the American and Asian culture. Most Americans tend to trust a person until they find out that this person cannot be trusted. The Asian culture is the opposite. Most in Asia does not trust a person until this person have proven over time that he or she can be trusted. Thus, project developers need to understand that it takes time to earn agents’ trust. One trip to Asia is only the start of your trust campaign. 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 ever in the future.
In today’s EB-5 market it’s also critical to look closely under the hood of your own project before your approach the EB-5 Asian market.
1. Are you able to demonstrate you made the actual investment in the capital stack?
2. Conducted thorough market analysis and feasibility study?
3. For real estate projects; Have all the permits been obtained to start the project or in process?
4. Background checks need to be conducted on all senior partners as to not have any surprises.
EB-5 is a wonderful vehicle for investors to come to the United States and for the United States to grow and develop economically. Your project may not be perfect and our partners understand that. Working together with trusting associates in Asia will achieve positive results. There is more than one way of achieving an aim. Curtis@cnglobalpartner.com