-On June 22, 2021, the U.S. District Court for the Northern District of California, in Behring Regional Center LLC v. Wolf, 20-cv-09263-JSC, vacated the then policy of requiring $900,000 for EB-5 investment.
As such, USCIS we will apply the EB-5 regulations that were in effect before the rule was finalized on Nov. 21, 2019, including:
No priority date retention based on an approved Form I-526;
The required standard minimum investment amount of $1 million and the minimum investment amount for investment in a Targeted Employment Area (TEA) of $500,000;
Permitting state designations of high unemployment TEAs; and
Prior USCIS procedures for the removal of conditions on permanent residence.
In essence USCIS is applying the old Rules allowing for the EB-5 investment threshold of $500,000.
The EB-5 Program consist of both a temporary Regional Center Program and a permanent Direct program.
-The Regional Center Program has lapsed and is currently waiting for Congress to pass a Bill to extend. As such, USCIS is not accepting Regional Center EB-5 applications at this time.
Regional Centers are Private Businesses that allow multiple investors to assist them in expanding their Business objectives. Regional Centers generally afford the investor a low return on investment and generally the ability to re-coupe investment.
Congress created the fifth employment-based preference (EB-5) immigrant visa category in 1990 for qualified foreign nationals seeking to invest in a business that will benefit the U.S. economy and create or save at least 10 full-time jobs for U.S. workers.
Currently, there are over 3000 certified Regional Centers located across the United States.
The EB-5 Regional Center Program does not require that the project or enterprise directly employ 10 U.S. workers. Instead, it is sufficient if 10 or more jobs will be created directly or indirectly as a result of the investment.
A Regional Center obtains its designation by submitting a detailed application to USCIS. Once USCIS has approved a Regional Center application, an investor seeking an EB-5 Green Card through the Program must make the qualifying investment with an approved Regional Center Project.
Before an investor can participate in a Regional Center’s EB-5 investment program, each investor must independently petition USCIS for an EB-5 visa. USCIS will determine whether the investor qualifies for the EB-5 visa. USCIS will always require a detailed review of the sources of the investor’s funds to confirm lawful tracing and origin.
Upon approval, USCIS will issue the investor, his/her spouse and children under 21 a two year Conditional Green Card. The Conditional Green Card will carry the same weight and privileges of an unconditional Permanent Green Card. Prior to the expiration of the Conditional Green Card, the investor will be required to submit an application to USCIS to request the removal of Conditional status, for Permanent Residency.
Investor must generally invest into a certified Regional Center.
Average exit strategy allows for return of investment.
Management is on a very limited basis and investor can reside in any state regardless of Regional Center Project location.
At Risk Investment. The investment must be placed at risk and the re-payment of the investment by the Regional Center is not guaranteed.
A two-year Conditional Green Card will be issued to the investor, spouse and children Under 21.
This process will take on average 2 to 4 years for those in Countries that do not face a backlog (Retrogression).
Investor can apply for Permanent Residency status inside the U.S (where eligible)or abroad through the Consulate.
Investor will be eligible for U.S Citizenship after 5 years of permanent residency status.
The Law Firm of Darren Silver & Associates, LLP is your premiere Resource for Filing Investment based Permanent Residency. Our Attorneys are highly skilled in assisting investors with the complexities that surround the EB-5 Green Card process. Darren Silver has been involved with investment and EB-5 immigration processing for over 25 years. The Law Firm of Darren Silver & Associates has successfully filed over 4,000 EB-5 applications and has represented investors from all corners of the Globe. The Firm has assisted Regional Centers with Project materials, Individual investors with direct investment strategies and has helped those investors selecting to invest into a Regional Center Project. The Firm prides itself on an extensive knowledge base surrounding EB-5 laws and policies. Mr. Silver and the Firm have won numerous awards and continue to be recognized as one of the top Law Firms in the EB-5 area.
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