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How does reinvesting my EB-5 investment affect job creation numbers?

I invested in a regional center project two years ago. Based on the project performance, I am worried that it might come up short on job creation. If the same regional center is running another project at the same time and I choose to reinvest in this project, are the extra jobs counted for my application to keep my EB-5 case from failing?

Answers

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    Ed Beshara

    Immigration Attorney
    Answered on

    You will need to seek the advice from your EB-5 Immigration attorney. You probably will not be able to change projects, unless the EB-5 structure allows you to.

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    Julia Roussinova

    Immigration Attorney
    Answered on

    If you pull the funds from one project and reinvest into another project, you will need to file a new I-526 petition and will not be able to retain an earlier priority date under current law. You should first consult an immigration attorney/economist to review the economic impact report and job creation analysis to ensure the project will not create sufficient number of jobs per investor.

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    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    Each project or NCE is responsible for creating the required number of jobs (10 per EB-5 investor). If a given NCE is short on the job creation, it is unlikely that job creation in another NCE, even within the same regional center can be credited to make up the shortfall. If you are concerned about the job creation numbers/estimates for your particular NCE, you should consult with an experienced EB-5 immigration attorney, who will be able to advise of the likely outcomes and possible options to mitigate any negative outcomes.

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    Charles Foster

    Immigration Attorney
    Answered on

    You may be able to file in a similar project of the same Regional Center but that would be deemed to be a material change and you would have to file an amended petition.

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    A Olusanjo Omoniyi

    Immigration Attorney
    Answered on

    No, additional investment is neither needed nor advised. Any further investment cannot change what appears to be a failing project. Also, the USCIS is not likely to allow the additional investment to be counted toward the failing project. Therefore, before you make further investment, consult an attorney to examine your options.

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    Barbara Suri

    Immigration Attorney
    Answered on

    Whatever project you invest in, it must meet the criteria of hiring a minimum of 10 authorized U.S. workers.

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    If the funds are redeployed from the same new commercial enterprise, there is an argument that you might be able to count the additional jobs. Of course the issue here is material change, which may be permissible after you have landed with a conditional green card, but not before.

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    Jinhee Wilde

    Immigration Attorney
    Answered on

    If you are investing in a new project, you cannot simply move the investment as the I-526 petition was based on one specific project. You must file a new petition with the new project documents. Currently, there is no preserving earlier filed Priority Date for I-526 which would mean you lose the 2 years of time you have invested in the previous filing by starting all over again with the new project. If that is what the regional center is offering you, you need to beware. Please discuss with your lawyer to analyze the economic report and job creation methodology carefully to see if the job creation could be achieved even if the project may not be doing so well. For example, if the job creation methodology was based on construction spending, for example, it does not matter if the project is not performing well as long as the spending for construction was documented and exceeded the projection. Having an attorney who understands the whole petition package, including the business side documents, and could explain to the investor is necessary to protect the investor.

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    Belma Chinchoy

    Immigration Attorney
    Answered on

    Reinvestments in the EB-5 context are complicated. EB-5 projects, even if run by the same regional center, are not related to each other. If you reinvest - as in, pull out funds from the first project and invest in another project - your initial petition is moot. You need to file a new I-526. Please discuss with a qualified EB-5 attorney so you can understand your options.

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