深入探究EB-5市场前景 指引投资移民方向

Emily Zhu是新帝国EB-5区域中心的执行总监。朱女士是一位经验丰富的房地产专业人士，曾多次成功协助房地产开发商在纽约地区找到绝佳的的发展机会。朱女士曾在在亚洲和北美地区执业。 2014年以来，朱女士负责在纽约地区EB-5混合用途项目融资，现已筹集超过1.5亿美金。在这个职位上，朱女士和顶级移民代理中介，财富管理以及私募股权投资者在中国和其他国家，包括台湾，香港，韩国，越南和印度等有着强有力的人脉资源。朱女士毕业于宾夕法尼亚大学LL.M.并获得香港城市大学J.D. 学位。她的普通话和英语非常流利，而且精通粤语。

我终于结束了为期三周在中国的EB-5投资近况调查。这次行程让我更好地了解到中国投资市场的最新动态和趋势。在这次行程中，我遇到了很多来自深圳、广州、辽宁和香港的中介公司负责人，也遇到了很多健康管理公司、银行、会计行和高校的高管，以下是我的一些观点与想法，我相信这些会有助于投资者在未来的EB-5投资中做出更明智的决策。

在我离开深圳后不久，SEC发布了对南加州癌症治疗中心项目申诉的控告。这会更促进我要讨论与移民中介有关的EB-5项目问题。很显然，中国的投资者都对美国投资计划有着浓厚的兴趣。然而，最近的处理文件时间的延长和EB-5丑闻困扰着越来越多的移民中介和投资者。关于I-526批准等待时间过长的问题，许多移民代理中介都没有诚实的对投资者坦白实情因为他们害怕失去投资者。而另一方面，移民中介机构也担心他们自身缺乏完整的EB-5信息披露资料。例如，在最近的新闻中，一个EB-5投资者提起诉讼，控告北京某移民中介未披露投资移民的相关材料等重大信息。该案件被中国新闻和社交媒体广泛报道。

我的另外一个观点是投资者的投资需求是由EB-5投资移民对美国房地产黄金市场的机会转变。具体而言，移民机构都集中的推销房地产销售等传统的EB-5的项目。

此外，超大型项目已经吸引超过一半的EB-5申请名额。由于前政府官员（例如退休州长，国会议员和其他政客）在中国投资者面前频频亮相，并且他们很好地支持了在纽约市和洛杉矶的大型投资项目。其结果是，相比于小城市的项目，这些大型投资项目吸引了更多的关注。这种趋势让多个小项目处于弱势地位。

另外一个悬而未决的问题是EB-5项目的未来走向，EB-5区域中心项目的不确定性持续的困扰着每个投资者，没有人知道今年下半年将会发生什么变动。

无论在中国或是美国发生了什么转变，中国对于境外投资者的需求依旧很高，由于每年中国房地产泡沫会产生成千上万的合格投资者，在未来的几年内，中国还会继续主导EB-5投资市场。

I finally completed my 3 week EB-5 investment fact finding trip toChina. The trip has helped me have a better understanding of the latest Chineseinvestor market conditions and trends. During the intensive trip, I met withdozens of migration agency executives in Shenzhen, Guangzhou, Liaoning, andHong Kong SAR. I also met with executives of wealth management companies,banks, accounting firms, and MBA principals. The following are my observationsand thoughts that may be helpful in determining your future EB-5 marketingstrategies.

Right around my departure to Shenzhen, SEC released its complaintagainst a cancer treatment center project in Southern California. I knew that Iwould be discussing with migration agents on issues relating to the EB-5program’s integrity. It is obvious that Chinese investors are showing stronginterests in the U.S. investment program. However, recent retrogression andEB-5 scandals have increasingly troubled migration agents and investors. Withregard to the long waiting time on I-526 approval and retrogression, manymigration agents have not been honest with their clients because they areafraid of losing them. On the other hand, they are also afraid of potentialliabilities for their lack of complete disclosure. For example, in recent news,an EB-5 investor filed suit against a Beijing migration agent for failure todisclose material information. The trial was covered widely by Chinese news andsocial media.

Another observation is that investor demand is shifting from EB-5 towards real estate opportunities in prime U.S. markets. Specifically, migration agencies are focusing on real estate sales in addition to traditionalEB-5 products.

Furthermore, mega-size projects have drawn more than half of theEB-5 filings. Thanks to former government officials (such as retired governors,congressmen, and other politicians) and their frequent appearances in front ofChinese investors, well supported large projects in New York City and LosAngeles are made to look more glamorous. As a result, these projects areattracting much more attention than projects in smaller cities. This trend iscertainly putting many smaller projects in disadvantaged positions.

Another unsettled issue is the upcoming sun-setting of the EB-5program. The uncertainties around the EB-5 regional center program continue tohaunt everyone in the EB-5 community.  No one knows what would happenlater this year.

No matter what happens in both China and the United States, Chinesedemand for outbound investments will remain high. As the Chinese real estatebubble continues to produce tens of thousands qualified investors every year, continue to dominate the EB-5 investment market for years to come.