I recently contacted a law firm but I’m not sure if they are legit. I was told that this law firm invested in a TEA project itself. They bought land and used one piece of the land for each EB-5 application. They claimed there is already $800k in that project and they are getting government subsidies; thus they don’t need the investors to pay the money. They argued that the EB-5 program doesn’t require the source of the investment to be from the investor as long as there’s money in the project already. They only need the investor to prove that you have the $800k.
Does this project/plan make any sense?
Answers
Belma Demirovic Chinchoy
Find the Best EB5 Visa LawyersThis does not sound legit. There are many ways to verify a law firm – state bar records, reviews, conversation with attorneys, references from past clients and colleagues etc etc.
But if they are telling info that is contrary to even Google's understanding of EB5, you need to run.
Michael A Harris, Esq
Find the Best EB5 Visa LawyersI would not recommend investing with a law firm that contacted you to market their EB-5 project to you. This may be a violation of U.S. Securities Laws as well as Attorney licensing rules by soliciting you for legal services. I would consider running, not walking away from this type of project.
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