T
uan Nguyen started his research on EB-5 like many other
investors did: he googled. But unlike other investors who
might get overwhelmed by the complicated process of EB-5
and turn to professionals for help, Nguyen patiently pored over
every piece of information available online, meticulously listed
candidate regional centers and projects that appealed to him,
then picked up the phone to talk with developers directly.
“I know exactly what I am looking for,” he said.
Nguyen is one of a few Vietnamese investors who managed
to “DIY” their EB-5 application without the help of brokers
or migration agents. As a successful businessman with
extensive experience in investment and business strategies,
he understands what kind of projects generate good returns
and stand a higher chance of meeting EB-5 requirements.
THOROUGH PREPARATION
FOR THE EB-5 ADVENTURE
Nguyen ser ved as the chief commercial officer in a
Vietnamese company before establishing his own investment
and commercial consultancy. With the belief that the U.S.
offers the most dynamic markets in the world, he was
determined to extend his business to the land of opportunity.
To avoid the tedious preparation of acquiring travel documents
every time he entered the country and to facilitate the daily
operation of his business in the U.S., he decided to invest in a
green card through the EB-5 program.
As a sophisticated investor, Nguyen is very prudent about
whom he works with and what he invests in. After talking
with some local migration agents, he decided to skip the
middlemen and vet projects himself.
“I don’t want to be tied up to very limited choices,” he
explained. “I like to find out myself.”
And so he did. His comprehensive study on EB-5 featured
strict scrutiny on immigration and securities requirements
as well as track records of a long list of regional centers and
developers. He perused business plans and dug into its
expenditure items to decide if the project made sense from
the standpoint of commercial viability.
“I know how much it costs to build certain things. I looked for
the one that came closest to my standards,” Nguyen said.
His English skills and past experiences in working with
American par tners enabled him to engage in direct
conversation with developers and regional centers. He talked
with a lot of them to discuss project details. To Nguyen, this
was the best way to find out if a developer is trustworthy and
if a project is likely to win him a green card.
A mixed-use real estate development project on Staten
Island in New York City became “the lucky one.” Nguyen
chose a project in an underdeveloped neighborhood with
poor infrastructure and a high unemployment rate but with
convenient ferry services connecting the island to the central
business districts of Manhattan.
23
EB5 INVESTORS M AGAZINE
" With the belief that
the U.S. offers the
most dynamic markets
in the world, he was
determined to extend
his business to the land
of opportunity."