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Do you need to have an EB-5 Project in order to start your own Regional Center?

Do you need to have an EB-5 Project in order to start your own Regional Center? I want to know the requirements to start a regional center myself, and if I need to have a project ready before applying to become a Regional Center?

Answers

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    Mahsa Aliaskari

    Immigration Attorney
    Answered on

    While a specific project is not required when submitting an I-924 for regional center designation, a hypothetical project with supporting documents should be provided.

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    Lei Jiang

    Immigration Attorney
    Answered on

    No. You do not need an actual project for regional center application.

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    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    No; but you do need to include enough specificity for the USCIS to understand the geographic area and industry scope/focus your regional center will include. You can give them a sample project (an ''exemplar'') if you don''t have an actual project ready. In fact, if you had an actual project ready to go, but had to wait for the USCIS to process your regional center application, your project would probably die on the vine, considering how long USCIS takes to adjudicate I-924 applications. You should work with an attorney and business professionals with extensive experience in setting up EB-5 regional centers. It will save you a lot of time and trouble in the long run.

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    Julia Roussinova

    Immigration Attorney
    Answered on

    You are not required to have an actual project and may base your Regional Center application on a hypothetical project with well developed documentation. It is also possible to use an established Regional Center for a fee rather than create your own Regional Center. Please do not hesitate to contact our office should you have further questions.

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    Mark Ivener

    Immigration Attorney
    Answered on

    It is possible to rent the use of a Regional Center for a fee.

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    Mona Shah

    Immigration Attorney
    Answered on

    Yes, a project is required for a regional center proposal, under the present regulations. The project does not need to an actual one, a generic or sample project will suffice, but an exemplar petition would likely be required for the actual project at a later stage.

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    Ed Beshara

    Immigration Attorney
    Answered on

    You can file an Application for Regional Center Designation based upon hypothetical projects.

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    Michael A Harris

    Immigration Attorney
    Answered on

    The USCIS will want you to have either an actual project that can meet EB-5 requirements; an actual project that may not be fully ready under EB-5 requirements; or a hypothetical project. All three types of possible proposals need to be supported by a comprehensive business plan that meets the standards of USCIS guidance in response to an important case called Matter of Ho. This means a credible set of budget and financial projections supported by verifiable and credible information, in addition to other evidence and information. Thus, there are many requirements to consider in deciding whether or not to form a regional center or join an existing one. You should consult with an immigration attorney to learn more.

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    Daniel A Zeft

    Immigration Attorney
    Answered on

    No, one can become an EB-5 reional center without an actual EB-5 project.

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    Boyd Campbell

    Immigration Attorney
    Answered on

    Ideally, yes.

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    Susan Pilcher

    Immigration Attorney
    Answered on

    Although the law and regulations do not require an actual project, current USCIS adjudication standards and policies for regional center applications require a well-developed project plan up front. For purposes of the regional center application, the project may be deemed "hypothetical," but it must be sufficiently detailed and sound to persuade USCIS that the proposed regional center "will create jobs."

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    Neville M Leslie

    Immigration Attorney
    Answered on

    Yes. You do need to have an EB-5 Project in order to start your own Regional Center

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    Clem Turner

    Securities Attorney
    Answered on

    You do not have to have a shovel ready project, however you do need to describe a "hypothetical" project in great detail, so that USCIS can fully evaluate the types of projects you would undertake if you were given a regional center designation.

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    It is a catch 22. Technically you do not need a project, but you need verifiable detail concerning the hypothetical project.

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