3rd Party Compliance Group,LLC
EB-5 Integrity Focused

Services

Supporting ALL areas of the EB-5 Investment Program

Areas of Expertise

 

Construction Compliance

Understanding YOUR project and its unique construction and financial requirements is integral to 3rd Party Compliance Group’s ability to provide both you and the investors the best service. We use a project integration process we referr to as “Sync Up” which links everything the investor and USCIS needs to know with your project development strategy.

Once we completely understand the project, we will jointly chart a compliance program that has very realistic checkpoints based on YOUR development program. Then we work to operate in the background as much as possible, doing the tasks required for BOTH EB-5 construction compliance AND whatever is necessary to manage the flow of EB-5 funds into the project based on the funding plan.

Working side by side with NES Financial, the Construction Compliance Manager reviews all construction draws and documents the flow of EB-5 capital and construction progress into the project. The Construction Compliance Manager reports directly to the owners, the Regional Center, and the EB-5 investors through our “workflow software” program.

A series of web based cameras are placed on the project site to document progress and to allow foreign investors to watch their investment through the construction process. Project investors and the Regional Center are provided password protected access to both the workflow log and the camera system. Investors and the Regional Center (and related financial institutions) each have access to a project specific “dashboard” that tracks project progress, cash disbursements, and any related project specific critical success factors (leasing efforts, municipal commitments, tax or labor incentives, etc.) in highly visual and easy to read set of graphics.

While it might SEEM as though this Construction Compliance is an additional “layer” in reality, under the new legislation, it is just an independent company doing the tasks that you would have to do internally anyway while reporting to the regional center and EB-5 investors.



NCE Administration / Compliance / Reporting

The USCIS requires a 3rd Party Compliance company (per the recent Integrity Act) to act as or oversee the Managing Member of the New Commercial Enterprise (NCE). This role is managing the USCIS requirements for immigration compliance for the period the EB-5 investors are involved in the project and in some cases, assuming responsibility to operate the NCE with all the management and financial requirements that entails.

 

During this period, 3rd Party Compliance Group, LLC assigns one specific project monitor/advisor to each project. This experienced business consultant is specifically scheduled to review the project at EACH project financial milestone and to maintain and update all records within the workflow software and dashboard on a daily basis. This includes logging time record pictures of the project, notes of conversations with developer, GC and key subcontractors as well as progress against all additional non-construction critical success factors. This business consultant is also responsible to answer investor

/ regional center questions regarding the project milestones and financial absorption. If the project “drifts” this business consultant is tasked to PROACTIVELY assemble key team members and develop a project responsible plan (approved by all project leadership) to get the project back on track and within the “safe zone” on the dashboard. The account transparency requirement calls for 3rd Party Compliance to insure the transfer of funds is in compliance with the guidelines of H.R. 5992.

 

Navigating EB-5 waters can be very challenging and time consuming. But assembling the right team of experts - including attorneys, analysis, researchers, economists, and business plan writers - can make the difference for project developers, business owners, franchisors and even the investors. As an independent oversight company, 3rd Party Compliance Group has experience with experts in all these disciplines and we can refer you to qualified resources that can effectively support your project as needed.



NES Platform Administration

We utilize NES Financial, in addition to our software program, to administer the NCE account transparency requirement. As raising capital through EB-5 becomes more mainstream, subject to increased scrutiny from multiple sectors, the pressure to EB-5 issuers to build operational excellence throughout the entire life cycle of an EB-5 project is significantly increasing. Fund accounting is a cornerstone for achieving this goal. The NES Financial EB-5 Fund Accounting Solution provides an efficient, scalable, and fully compliant third-party solution that enable issuers to successfully compete for international investor capital, while addressing evolving due diligence requirements that prove critical to a project’s success.

The NES Financial Intelligent EB-5 Fund Accounting Solution simplifies back-office accounting for the EB-5 fund, including general ledger maintenance, quarterly and annual financial statement, bank and custodian reconciliation, distributions and receipts.

 

Combining 3rd Party Compliance Group and the NES Platform for accounting is a best practice to help ensure accuracy, improve operational efficiency, and allow you to focus on meeting your project’s needs.

NES Financial provides end-to-end solutions for every stage of the EB-5 life cycle, specifically designed to help meet USCIS guidelines, SEC requirements, and simplify AML, KYC, and FATCA compliance. With regulatory scrutiny poised to increase, oversight and tracking of all allocations and distributions helps ensure everyone in the development cycle from investor to developer is prepared for additional compliance requirements.