How does the SEC define U.S. person in terms of EB-5 sales regulations?
I am contemplating raising EB-5 funding for my CRE project through a regional center, and finding the learning curve daunting. I was recently approached by a salesman who claims to be able to find and place investors into an EB-5 project for a fee per investor. I am aware of the SEC's regulations governing overseas sales activities if the salesman is a U.S. person. He is a U.S. citizen living in the Middle East, and traveling to the U.S. only on occasion. Is he subject to the SEC's regulations and required to register or affiliate with a broker dealer, or is he not subject to SEC jurisdiction because he is living overseas? How does the SEC define U.S. person?
I would advise you contact our Law Firm and we will assist in advising you how your project may be EB-5 compliant with the US immigration regulations and policies and the SEC regulations. Based upon the facts you present the Broker Dealer who is registered will be able to assist you and the "salesperson" with compliance.