EB5 Investors Magazine (English Edition) Volume 5, Issue 1 - Page 99

likely lead to more potential immigrants to consider the U.S. for relocation, and, in particular, EB-5. Interest in the U.S. market has also been bolstered due to new policies in Europe regarding the sharing of bank information between Western European countries and Russia. Pursuant to Russia’s decision in 2016 to accede to the Common Repor ting Standard regime, starting in 2017 Russian authorities will be able to acquire account information for Russian citizens in partner jurisdictions that are also subject to the CRS. SENTIMENT AMONG RUSSIAN-SPEAKING INVESTORS REGARDING EB-5 Despite the longevity of the EB-5 program, knowledge of the EB-5 program in Russia an d su r ro u n din g mar ke ts remains relatively low. This is true not only among actual investors but also advisors, agents, and other professionals in legal and financial spheres who could serve as potential referral sources. Even agencies w i t h s i g n i f i c a n t ye a r s of experience in dealing with European and other jurisdictions for second citizenship have at best a rudimentary understanding of the general requirements of the EB-5 program and typical project structures. "Interest in the U.S. market has been bolstered due to new policies in Europe regarding the sharing of bank information..." This includes most major jurisdictions in Western Europe.1 This development has been the source of serious concern for Russian high net-worth individuals, since they traditionally have kept the majority of their assets in banks in Western Europe. As a result, affluent investors from Russia and surrounding markets are increasingly turning to the United States as a favorable jurisdiction for capital. There have been an increased number of Russian- language sites with information related to EB-5. However, for the most part, these are opportunistic sites set up by intermediaries with limited, if any, experience and knowledge in the EB-5 program and EB5INVESTORS.COM 98