Question:

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?