(By Brian Su) I have been approached frequently by EB-5 project clients on how Chinese or Korean emigration agents would choose projects for their markets. Here are some common sense tips:
1) I have a good EB-5 project, but the project seems unable to sign up emigration agents in China and other countries. What went wrong?
Brian Su: I would suggest you go back to your PPM and other offering documentation, have a complete in-and-out review. Some offering languages and/or fee structures may have turned emigration brokers away. These documents include PPM (private placement memorandum), subscription agreement, limited partnership agreement, escrow agreement, loan agreement, broker agreement and others. You may also want to carefully review business plan and economic impact study report. After review, you may be identify some areas that may not be attractive to agents, necessary modifications may be needed.
2) I have a solid EB-5 project and every offering documentation examined, but emigration brokers seems to be less interested. What happened?
Brian Su: Perhaps you need to remove your marketing director who is responsible for introducing the project to emigration brokers. International marketing and investor relation jobs are not suitable for everyone. Interpersonal skill and personality of your frontline staff is very important. If they are ignorant and ill-equipped with EB-5 knowledge, they are not good enough to promote your project in Chinese EB-5 investor market, Korean market or anywhere else. Believe or not, you may want a middle-age man or gal for the job rather than giving such important task to a 20-something young guys. It is a culture issue, especially in China and South Korea, they would regard your young lad not a decision-maker, it is waste time to speak with someone who cannot make decisions. Older guys / gals are typically better-received by emigration brokers at the project meetings.
For more information about our upcoming EB-5 conference in Long Beach California, please log on http://www.EB5LASummit.org.
1) I have a good EB-5 project, but the project seems unable to sign up emigration agents in China and other countries. What went wrong?
Brian Su: I would suggest you go back to your PPM and other offering documentation, have a complete in-and-out review. Some offering languages and/or fee structures may have turned emigration brokers away. These documents include PPM (private placement memorandum), subscription agreement, limited partnership agreement, escrow agreement, loan agreement, broker agreement and others. You may also want to carefully review business plan and economic impact study report. After review, you may be identify some areas that may not be attractive to agents, necessary modifications may be needed.
2) I have a solid EB-5 project and every offering documentation examined, but emigration brokers seems to be less interested. What happened?
Brian Su: Perhaps you need to remove your marketing director who is responsible for introducing the project to emigration brokers. International marketing and investor relation jobs are not suitable for everyone. Interpersonal skill and personality of your frontline staff is very important. If they are ignorant and ill-equipped with EB-5 knowledge, they are not good enough to promote your project in Chinese EB-5 investor market, Korean market or anywhere else. Believe or not, you may want a middle-age man or gal for the job rather than giving such important task to a 20-something young guys. It is a culture issue, especially in China and South Korea, they would regard your young lad not a decision-maker, it is waste time to speak with someone who cannot make decisions. Older guys / gals are typically better-received by emigration brokers at the project meetings.
For more information about our upcoming EB-5 conference in Long Beach California, please log on http://www.EB5LASummit.org.
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