How do we change the NAICS category of a regional center? - EB5Investors.com

How do we change the NAICS category of a regional center?

We purchased a regional center two years ago and now we want to add a state to the scope of the regional center and change the North American Industry Classification System category of it. Is this a complicated process? What procedures are involved? How should we best go about doing this?

Answers

Charles Foster

Charles Foster

Find an EB-5 Visa Lawyer: Immigration Attorney
Answered on

In order to change the North American industry classification system category for a regional center that you purchased two years ago, you could file an amendment on Form I-924 requesting additional NAICS codes, or you could do so by just filing such request on your next EB-5 investor petition on Form I-526.

A Olusanjo Omoniyi

A Olusanjo Omoniyi

Find an EB-5 Visa Lawyer: Immigration Attorney
Answered on

The planned changes can be accomplished by notifying the USCIS through two means: 1) filing form I-924A and 2) filing of amendment to the business plan original regional center through the original approval was obtained. There is no official means for any company to change its NAICS because many federal agencies keep and maintain their own lists of business establishment classification. The purpose of NAICS is to provide the government information regarding a company''s primary line of business that generates the highest source of revenue. Generally, businesses expand their offerings, services and product lines as the market requires. Also, you should update your company''s E-Verify profile so that you have a matching code in all your filings with the USCIS. Advisably, an EB-5 immigration attorney may be of assistance in this circumstance.

Fredrick W Voigtmann

Fredrick W Voigtmann

Find an EB-5 Visa Lawyer: Immigration Attorney
Answered on

You should retain an experienced EB-5 immigration attorney who can advise you on the requirements for amending your regional center designation by filing an I-924 amendment. You also need legal advice regarding all aspects of regional center compliance.

BoBi Ahn

BoBi Ahn

Find an EB-5 Visa Lawyer: Immigration Attorney
Answered on

To make amendments you will need to file an I-924 form with supporting info/docs. An immigration attorney experienced these matters will be able to assist you in this endeavor.

Belma Demirovic Chinchoy

Belma Demirovic Chinchoy

Find an EB-5 Visa Lawyer: Immigration Attorney
Answered on

You need to amend the regional center designation and expand the geographic focus and economic industries. To begin the process, you should hire an EB-5 immigration attorney who will guide you through the process and assist you in identifying third party professionals whose services are needed to prepare a regional center amendment application.

DISCLAIMER: the information found on this website is intended to be general information; it is not legal or financial advice. Specific legal or financial advice can only be given by a licensed professional with full knowledge of all the facts and circumstances of your particular situation. You should seek consultation with legal, immigration, and financial experts prior to participating in the EB-5 program. Posting a question on this website does not create an attorney-client relationship. All questions you post will be available to the public: do not include confidential information in your question.