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additional info entry

A “Regional Center” is:

An entity, organization or agency that has been approved as such by the Service;

To file an approvable EB5 application the “Alien investors” must:

USCIS determines whether the investor qualifies for the EB-5 visa by adjudicating an application, Form I-526. USCIS’ adjudication includes a detailed review of the sources of the investor’s funds, family history, and other representations of the head of household and his immediate family member under the age of 21.

Once approved for EB-5 status through an approved I-526 application, the investor will apply for permanent residence and will receive conditional residence for a period of 2 years. Within 90-day of the expiration of conditional residence, the investor must file a Form I-829 application to remove the condition, by proving that the requisite amount of personal capital actually was invested, that at least ten full-time jobs were created by that investment, and that the investor “substantially met” the capital investment requirements and sustained the investment during the conditional two-year period. The investment, whether private or through a Regional Center, must still be operating with the exact same purpose as when the original I-526 application was filed. Failure to timely file that I-829 application to remove the condition will result in automatic termination of status. So will an eventual denial of the I-829, at which stage many investors are deemed not to have “substantially met” the capital investment requirements, but the Service has been known to leave these applications pending for years.

For Further Information On How We Can Help Your Firm Meet Its Employment Eligibility Verification Obligations, Please Contact Amy Wildes At amy@wildeslaw.com