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12/6/11 Immigrant Investors, An Underserved Market - Financial Adviser - WSJ

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By Lynnette Khalfani-Cox

Finding new clients is a challenge for all financial advisers. But most advisers are

overlooking an untapped and growing client base: wealthy foreign investors seeking to

gain permanent residency in the U.S.

Courting well-heeled foreigners looking to relocate to America is “a very niche field,”

says Michael Gibson, founder of USAdvisors.org. But it’s also an area that’s wide open

for financial advisers.

Gibson’s specialty: providing business research and transactional analysis for those

trying to get fast-tracked green cards or visas through the EB-5 Visa program.

EB-5 investor status gives permanent residency to

foreign nationals who can directly or indirectly

create at least 10 jobs in America by investing a

minimum of $1 million here. The investment

threshold is dropped to $500,000 if a foreign

national invests through “Regional Centers” in rural

areas or urban regions with high unemployment

rates.

So Gibson–who also runs the EB5Info.com

website–performs due diligence on Regional

Centers and creates customized research reports

that analyze the likelihood that a center’s

investment projects are viable, and will meet

government-mandated job requirements.

EB-5 green cards also allow affluent foreign

investors (and their family members) to work in the

U.S. in any capacity, go to school, or retire here.

“Any financial services firm that does not cater to

these people is going be missing out a huge source

of revenue over the next few years,” Gibson says.About Financial Adviser

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JUNE 11, 2010, 8:24 AM ET

Immigrant Investors, An UnderservedMarket

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“They’re not just opening bank accounts and buying houses,” he notes. “Most of the

clients we deal with have net assets north of $5 million and they need a broad array of

financial services, including insurance and investments, estate planning, tax services,

and help planning for their children.”

Greg Siskind, an immigration attorney with Siskind Susser who also runs VisaLaw.com,

echoes Gibson’s sentiment. “I’ve not heard of the big Wall Street firms being involved in

a major way in this business,” he says. “So I think it’s an area of opportunity.”

Each year, 10,000 visas are available for EB-5 investors looking to come to America.

According to the U.S. State Department, the number of so-called “investor green cards”

issued nearly tripled to 4,218 in the fiscal year 2009 ended September 30, compared to

just 1,443 EB-5 visas issued in fiscal year 2008.

Gibson and Siskind offered four recommendations for financial advisers seeking foreign

nationals as clients:

- Leverage diversity and foreign language skills

“If they have foreign language skills and can cater to these individuals,” that’s a huge

advantage, Gibson notes.

- Investigate multiple Regional Centers

Since most centers haven’t been operating long enough to complete their projects or

establish an investment track record, Gibson said he fears that many projects marketed

to investors “won’t be successful commercially, or in terms of job creation.”

- Establish broader networks

Regional Centers and immigration lawyers are good sources of referrals for EB-5

clients, but they rely on referrals, too. Many centers pay about $25,000 for investor

referrals, Gibson said.

- Deepen conversations with clients

Financial advisers may have existing clients whose relatives or associates could be

good candidates for EB-5 visas. Explore this area, but Siskind recommends being

realistic with clients and advising them that the EB-5 process involves “tying up your

funds for several years, and having some uncertainty about the end of the process.”

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CLEAR POST

9:11 am January 7, 2011

Dale Allman wrote:

This is great information. Your thoughtful and fact-based approach is appreciated. I would alsomention the USCIS E-2 Treaty Investor program as well. The dollar threshold is lower than theEB-5 programs and the goals are about the same — attract foreign investors to the USA if theywill help create businesses, jobs and contribute to the national economy. Forward thinkingcompanies, as well as financial services firms, would be missing a huge opportunity by ignoringboth the EB-5 and E-2 investor programs. Exmovere Holdings, Inc. is an example of a US-basedcompany that actively courts E-2 investors. You can find more details at http://e2.exmovere.comThank you.

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