Report from China: Guangzhou Exit-Entry Administration Sets New Rules for EB-5 Brokers

(Source: EB-5 China Market Council)
Guangzhou Public Security Bureau Exit-Entry Administration announced new rules for area immigration brokers, and set new self-disciplinary requirements for migration agencies that promote U.S. EB-5 regional center program in 2011.  The new rules will immediately be implemented in January: 1)  The first batch of established immigration companies since early 1990s must deposit additional RMB 1,000,000 Yuan bond insurance when they apply for license renewal for the year of 2012. 2) The application for establishing new exit-entry service must deposit  RMB 2,000,000 Yuan with the Exit-Entry Administration starting in 2011. The additional deposit requirements will raise the bar for anyone that may be interested in entering the exit-entry business.

In a recent conference with Guangzhou area immigration service providers, Guangzhou Exit-Entry Administration also set new requests to the Guangzhou immigration industry. 1) Set new mechanism for monitoring promotional activities and restrict excessive exaggerations; 2) Publicize risks on overseas investment projects; 3) Each exit-entry service agency must file annual compliance review documentation by the end of December every year; and 4) When handling U.S. EB-5 immigrant investors program, exit-entry service agencies must inform consumers and fully disclose risk factors associated with the program.

The Administration also issued warnings to some EB-5 immigration agencies that claim “American attorney service on the spot” in their advertisements - this kind of statement is clearly violate exit-entry regulations.

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