CMB Export Successfully Concludes its USCIS Regional Center Audit August 5, 2024
CMB Export Successfully Concludes its USCIS Regional Center Audit
Many of our news releases over the last two years have detailed changes to the EB-5 program introduced by the EB-5 Reform and Integrity Act of 2022 (RIA). In our opinion, one of the most important components of the legislation was the establishment of the EB-5 integrity fund, which requires each active regional center to pay an annual fee of $10,000 or $20,000 per year.
These fees provide USCIS (United States Citizenship and Immigration Services) with the additional capital necessary to conduct investigations, monitor program-related events both inside and outside of the U.S., ensure overall program compliance, detect and investigate fraud and other crimes, and conduct project site visits, and perhaps most important, regional center audits.
CMB Export, our first regional center established in 1997, was one of the very first to undergo one of these new regional center audits. It was conducted over the last few weeks and has now officially been successfully concluded. As a leader in the industry and one of the oldest active regional center operators, we expected to be among the first to host the USCIS auditors. The entire process was both efficient and thorough, we at CMB would like to congratulate USCIS on developing this comprehensive audit procedure that is so necessary for the continued health and integrity of the EB-5 program.
CMB has consistently served as a champion for program reform, transparency, and proper compliance. While some regional centers have recently received NOIT for not paying their integrity fee, CMB has complied with the RIA by paying the required integrity fee for all 19 regional centers operated by CMB for fiscal year 2023 and fiscal year 2024. We are committed to continue contributing to this important initiative in the years to come. The EB-5 Investor Visa program remains one of the fastest and most predictable U.S. immigration options for investors around the world, but it is important for prospective investors to vet regional centers extensively prior to making an EB-5 investment.
If you are considering immigration by investment to the United States and would like to learn more about CMB, please visit our website here.
Many of our news releases over the last two years have detailed changes to the EB-5 program introduced by the EB-5 Reform and Integrity Act of 2022 (RIA). In our opinion, one of the most important components of the legislation was the establishment of the EB-5 integrity fund, which requires each active regional center to pay an annual fee of $10,000 or $20,000 per year.
These fees provide USCIS (United States Citizenship and Immigration Services) with the additional capital necessary to conduct investigations, monitor program-related events both inside and outside of the U.S., ensure overall program compliance, detect and investigate fraud and other crimes, and conduct project site visits, and perhaps most important, regional center audits.
CMB Export, our first regional center established in 1997, was one of the very first to undergo one of these new regional center audits. It was conducted over the last few weeks and has now officially been successfully concluded. As a leader in the industry and one of the oldest active regional center operators, we expected to be among the first to host the USCIS auditors. The entire process was both efficient and thorough, we at CMB would like to congratulate USCIS on developing this comprehensive audit procedure that is so necessary for the continued health and integrity of the EB-5 program.
CMB has consistently served as a champion for program reform, transparency, and proper compliance. While some regional centers have recently received NOIT for not paying their integrity fee, CMB has complied with the RIA by paying the required integrity fee for all 19 regional centers operated by CMB for fiscal year 2023 and fiscal year 2024. We are committed to continue contributing to this important initiative in the years to come. The EB-5 Investor Visa program remains one of the fastest and most predictable U.S. immigration options for investors around the world, but it is important for prospective investors to vet regional centers extensively prior to making an EB-5 investment.
If you are considering immigration by investment to the United States and would like to learn more about CMB, please visit our website here.