Asia Practice Group
SRFC is recognized for its comprehensive practice that is dedicated to handling the needs of Asian companies involved in corporate finance, merger and acquisition activities. Our Asian practice group serves Asian-based companies and investors seeking opportunities in the Asia-Pacific region.
SRFC is one of the most respected and experienced international legal practices in this space. We provide expert counsel through a full staff of attorneys who speak both Chinese (Mandarin) and English. Our Asia practice group offers clients expert counsel on the continually changing regulatory and governmental landscape in Asia and the U.S., including the evolving legal system in the Asia-Pacific region. SRF also partners with a global network of service providers and professionals to offer a complete suite of services to cater to complex needs.
China’s World Trade Organization accession has paved the way for many foreign investors to explore even more opportunities for investment into People’s Republic of China and Hong Kong. The penetration of PRC into the world market has also facilitated Chinese enterprises spreading their presence beyond the PRC.
While we offer clients a unique and sophisticated international practice and our clientele spans the globe, we have a particular concentration of experience in the Asia Pacific region, with a significant proportion of our clientele hailing from the PRC.
We are one of a few U.S. firms with a group dedicated to the needs of Chinese businesses operating in the PRC. We have a team of attorneys and supporting staff who is bilingual in Mandarin (Chinese) and English. Our experienced corporate and securities team is familiar with the Chinese corporate and securities legal framework and is able to assist in the seamless transition of PRC companies into U.S. reporting companies.
Our Asian Practice Group aims to assist our clients to achieve their business objectives and goals, be they foreign investors going into the PRC or Chinese enterprises going abroad in the most efficient manner. It is also our ambition to raise the level of awareness amongst the business community on the importance of and the need to comply with the corporate governance requirements and business regulations.
In addition to our extensive network of PRC counsel, we work closely with other U.S. and Chinese-based professionals and service providers to provide a one-stop service center to our clients.
PRC to the U.S.
- Public Offerings and Reverse Mergers – We counsel PRC companies seeking to go public in the U.S. through traditional public offerings and reverse mergers. We provide our clients with a comprehensive range of services, including: sourcing a suitable shell, preparing all necessary Securities and Exchange Commission filings, selecting a suitable investor relations firm, and preparing for an exchange listing. We understand the process and complexities of going from a private company in the PRC to a public company in the U.S. For example, we are current with latest implementing regulations from SAFE requiring central MOFCOMM and/or CSRC approvals for certain transactions. We also focus on educating and preparing our clients so they will be poised for success from the start. In addition, we are able to assist in the continuing reporting obligations of our clients and advise them on all corporate compliance and regulatory matters in their new role as a U.S. public company.
U.S. to PRC
- Investment Counseling –We counsel and assist hedge funds and other investors seeking to invest in the PRC, whether through a Wholly Owned Foreign Entity (“WFOE”), a traditional joint venture arrangement, a contractual arrangements and more recently, even through a gradual transition of corporate shareholdings. We make sure clients’ rights are protected and implement tight controls over the monies invested to ensure the investment is used for the intended purposes.
In order to stimulate the growth of U.S. economy, and attract foreign investment and create job opportunities, Congress created the fifth Employment-based Preference (EB-5) immigrant visa category in 1990 to encourage foreign investors to obtain permanent residency through capital investment. Usually, the minimum amount of investment required by the USCIS is $1 million. However, if the investment is made to areas with high unemployment rate, the amount could be reduced to $500,000. In 1993, the U.S. government created the Regional Center Pilot Program. This program relaxed the requirement of creating ten direct jobs to creating ten direct or indirect jobs relieving the investors from the burden of creating direct jobs and thus making this program more appealing. The EB-5 program has relatively loose requirements for investors’ qualifications. It also takes a shorter time for the USCIS to review and approve the application among other immigration categories. Because EB-5 program has the least requirements for the applicants’ qualifications, it is called the “Green Express Way” to obtain a green card.
Our firm can provide you with premiere professional legal services for your EB-5 application. Our team consists of highly skilled attorneys with extensive experience and we know well the top Reginal Centers. We will solve problems you may have during the application process in a prompt manner and help you receive your green card as soon as possible.
Advantages of the EB-5 Program
- It takes relatively short time to process and approve the green card application
- There is no minimum academic degree and language skill requirement
- The investors do not have to participate in the daily management of their invested projects, therefore they are able to do different work or businesses in the U.S. or other countries.
- Investors can enjoy the same benefits as the U.S. Citizens, such as their children will be able to receive advanced U.S. education. Investors can apply to become U.S. citizens after 5 years receiving a green card.
- Investors can choose to live in any state of the U.S..
EB-5 Visa Options
The Direct EB-5 Visa Program
Investors form a new original commercial enterprise that will create 10 direct jobs within a 2-year period.
- Often the job creation is very clear which increases the likelihood of successful I-829 adjudication
- The direct project is usually simpler and often will have less debt. This decreases the risk of failure and increases the likelihood of recovering the investment money.
The EB-5 Visa Regional Center Program
Regional Centers pool investor’s capital and apply the funds toward projects. A regional center needs to create 10 direct or indirect jobs with a 2-year period.
- The management requirement is minimal. There is no need for the investors to run the business by themselves.
EB-5 Program Timeline
*Please note that the estimated timeline may vary depending on USCIS processing and/or new immigration policies.