Chinese edition
1. 先画清主体关系
区域中心、NCE、JCE、开发商、管理方和推广机构不是同一角色。投资人应取得每个主体的法定名称、注册州、负责人及相互关系。项目若由TIHU实际运营、关联SPV参与或仅为第三方区域中心项目，也应使用不同标签，避免把渠道关系写成控制关系。
2. 核对移民申报状态
区域中心项目应核验区域中心是否出现在USCIS相关名单、是否存在终止记录，并确认适用的项目申请或收据材料。Form I-956F涉及商业企业投资的批准申请，但“已经提交”“取得收据”和“获得批准”是不同状态。任何状态都应附文件日期和最后核验日期。
3. 拆解资本结构
看清总项目成本、EB-5资金比例、开发商权益、银行融资是否落实，以及不同资金的优先顺位。宣传中的“第一顺位”“抵押”“政府支持”必须落实到正式协议、产权或贷款文件，并说明条件与例外。抵押物估值也不等于未来一定能足额变现。
4. 检查资金用途与控制
认购文件、PPM、贷款或运营协议应能说明投资款何时进入托管、何时释放、流向哪里、谁有权批准支出、是否存在关联交易。项目建设进度和已支出金额应有日期。投资人还应核对行政费、推广报酬及其他费用是否来自投资款或另行支付。
5. 分别验证就业与还款
就业创造关系到移民条件；还款来源关系到投资结果，两者不能互相替代。就业报告应说明方法、预算、时间和盈余；退出分析则应说明销售、再融资或运营现金流等来源及前提。USCIS对区域中心的指定或对移民文件的处理，不表示SEC或USCIS认可项目质量或保证本金。
6. 建立持续核验，而非签约前一次尽调
项目周期跨越多年，核验应覆盖开工、融资、建设、就业、运营和退出。每次更新至少记录数据截止日、来源、偏差和下一节点。对重大延期、诉讼、资本结构变化或区域中心状态变化，应有通知机制。详细发行文件应由独立移民律师、证券律师及投资顾问按各自职责审阅。
Note for applicants based in China
Applicants based in China usually also need to handle three things: keeping Chinese- and English-language documents consistent, making sure funds and income can be explained with independent documentation, and managing the gap between priority-date timing and a child's age. Any packaging that doesn't match the underlying facts creates greater risk at the RFE or interview stage.
TIHU's role and relationship disclosure
Projects, employers, attorneys or law firms, and China-based service companies may be independent legal entities. Where a resource has an affiliated or compensated relationship with TIHU, we disclose it in writing before any engagement.
Legal judgment and legal documents are the responsibility of a licensed attorney acting within an actual engagement. TIHU does not provide legal advice and does not promise any approval outcome.
Official sources
- USCIS — Approved EB 5 Immigrant Investor Regional Center
- USCIS — Regional Center Terminations
- USCIS — Volume 6 Part G Chapter 6
- SEC — Investor Alerts Ia Immigrant
This article is general educational content and does not constitute legal, investment or tax advice. Tax matters should be assessed for your specific situation by a licensed U.S. tax attorney or CPA.