Is this our only option for EB-5 compliance: fund administration vs. audit?
Yes. Under the new EB-5 regulations, every New Commercial Enterprise (NCE) must either:
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Engage a third party, independent fund administrator like PRXY, or
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Undergo a yearly third-party audit and deliver audited financial statements to the NCE’s investors and USCIS.
Most legal advisors recommend fund administrators because it's proactive compliance ("preventive medicine" vs. an audit’s “autopsy”) rather than a post-mortem audit. PRXY ensures your financial flows stay compliant from the start, and the cost is comparable to audits.