【兆龙课堂】基础篇：解读谁是EB-5投资人？什么是区域中心？什么是EB-5证券发行？

更新时间：2015-07-17

标签：美国移民移民美国美国投资移民

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　　为了帮助大家理解什么是EB-5投资人、什么是区域中心、什么是EB-5证券发行以及三者各自占据的位置，Suzanne Lazicki女士对此最新发表的相关文章，阐述了以上部分的内容，由兆龙移民翻译整理。

　　正文：

　　The basics: Who are EB-5 investors, what are Regional Centers, what are EB-5 offerings?

　　基础篇：谁是EB-5投资人?什么是区域中心?什么是EB-5证券发行?

　　July 12, 2015

　　2015年7月12日

　　Making good policy for EB-5 requires understanding what EB-5 is. I made the following tables to help people think about what EB-5 investors, Regional Centers, and EB-5 offerings are, and what place they occupy in the world. Panicky journalists (and recently, panicky legislation) appear to assume that EB-5 exists in its own special, isolated world where EB-5 regulations or lack thereof are the only rules and USCIS policing or lack thereof provides the only enforcement. If this assumption were valid, then Senators Leahy and Grassley would be right to propose burdening USCIS with extensive responsibilities for the securities compliance issues, investor market integrity factors, foreign direct investment issues, and national security considerations that could potentially be associated with an EB-5 investment. If EB-5-world were isolated from the jurisdictions of the SEC, OFAC, FINRA, the FBI, the State Department, and so on, then the Investor Program Office at USCIS would indeed need to hire lots more staff and make lots more regulations to compensate. USCIS would need to create in-house EB-5-world versions of those agencies and their regulations and oversight and enforcement activities. The job-creation impact would be huge – not only duplicating federal agencies but creating new categories of specialists in the private sector (the expert in USCIS EB-5-world securities regulations as distinct from the SEC’s securities regulations for everyone else, the expert in EB-5-world foreign investment limitations as distinct from regular-world foreign investment limitations, and so on.) But all this is unnecessary if the EB-5 investor, Regional Center, and EB-5 offering in fact belong to the wide world. And it seems clear to me that they do. “I am a petitioner for EB-5 benefits” is one descriptor of an EB-5 investor, and he’s unique to EB-5 and under USCIS’s watch to that extent. “I am an investor in a US business” is another statement he can make, and that puts him in a larger group under the SEC’s range of expertise and OFAC and FinCEN and such limitations as applicable. “I am an immigrant,” he will also say, and that makes him the State Department’s baby and subjects him to DOS’s specialization and resources related to national security. As a foreign investor, he’s a foreign investor like other foreign investors, and as an immigrant, he’s an immigrant like other immigrants – not unique to EB-5 in those capacities, not a greater or lesser security risk because of EB-5, and not isolated from the factors that apply to other investors and other immigrants generally. I argue that policy makers who want to improve EB-5 should focus on what’s unique to EB-5. Where a “who am I?” or “what am I?” statement below is particular to EB-5, the corresponding rules/oversight should involve USCIS and may be an area where USCIS or the EB-5 regulations can improve. If the characteristic isn’t EB-5-specific, neither should the policy be.

　　想要制定出好的EB-5政策就必须先理解什么是EB-5美国投资移民。为了帮助大家理解什么是EB-5投资人、什么是区域中心、什么是EB-5证券发行以及三者各自占据的位置，我制作了以下表格。惶恐的新闻记者(最近又变成了惶恐的立法提案)似乎认为EB-5只存在于其自身特殊、孤立的世界中，在这样的世界中，EB-5法规(或缺少EB-5法规)是唯一遵循的规章，而美国移民局的管控(或缺少管控)是EB-5法规执行的唯一途径。如果这一假设是正当的，那么Leahy和Grassley议员关于美国移民局就有关证券合规、投资者市场诚信、对外直接投资以及国家安全等可能与EB-5投资潜在相关的事宜承担更多责任的提案就显得合情合理了。如果美国投资移民EB-5行业是不受美国证监会、美国外国资产管理办公室、美国金融业管理局、联邦调查局和美国国务院等权利机构管辖的话，那么美国移民局的投资者计划办公室的确需要雇用许多员工并且制定许多法规来进行弥补了。美国移民局将需要在其内部创立适用于EB-5计划的前述权力机构、制定相关法规、实施监督并开展执法活动。在移民局内部设立这些新岗位的影响将是巨大的——不仅意味着要复制前面提到的这些联邦机构，还意味着需要聘用私营部门的许多新领域专家(EB-5证券法规与适用于所有人的美国证监会证券法规是截然不同的，而EB-5计划中的对外投资限制与一般的对外投资限制也是有所差异的，以此类推)。但是，如果EB-5投资人、区域中心和EB-5证券发行在实际中属于这个普通世界的一部分，那么所有这一切就显得没有必要了。而我可以清晰地看到，事实确实如此。“我是EB-5利益的申请者”是某位EB-5投资人的描述之一，该投资人对于EB-5而言是唯一的，且置于美国移民局的监管之下。“我是美国企业的投资人”是另一种描述，这样的描述将投资人置于美国证监会、美国海外资产管理办公室和美国金融犯罪执法网络及相关限制条例的更大范围管控下。而“我是移民”这样的描述则将当事人置于美国国务院的监管之下，受到美国国务院有关国家安全的特殊性规定和相关资源的约束。对于EB-5外国投资人而言，其与其他外国投资人无异，而作为EB-5美国投资移民而言，其与其他移民也没有任何区别——并不因EB-5计划而与其他外国投资人或移民在任何能力上或安全风险上存在区别。这些EB-5投资人和移民与其他投资人和移民一样面临着需要面临的一切要素。在我看来，那些想要改善EB-5计划的政策制定者需要关注的是EB-5的独特之处。鉴于下文中有关“我是谁?”及“我的身份是什么?”的陈述是特定针对EB-5计划的，相应的法规/监管会涉及美国移民局，也可能是美国移民局或EB-5法规可以得到改善的领域。如果下文所述的某些特点不是EB-5计划独有的，那么相关的政策也将不限于EB-5计划。

　　The EB-5 Investor

　　EB-5投资人