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How can potential EB-5 investors plan for the regional center expiration issue?

I read that the regional center renewal bill might not be extended in Congress. I am thinking it might be better to just go with a direct investment to get my EB-5 visa, as there are less than 100 days to renewal. At this point, is it better for EB-5 visa applicants to go with direct investments, just to be safe? And as the renewal date gets closer and closer, should we hold off on preparing our EB-5 applications until a decision is made?

Answers

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    Julia Roussinova

    Immigration Attorney
    Answered on

    If you file prior to expiration, your I-526 will be adjudicated. You may consider direct filing as well at your own discretion.

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    J Bruce Weinman

    Immigration Attorney
    Answered on

    I do not think that anyone anticipates the program to end. But, if it did end, your application would be grandfathered in under existing law.

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    Ed Beshara

    Immigration Attorney
    Answered on

    An approvable procedure is for an EB-5 investor to invest in an EB-5 regional center project that has or is in the process of filing immediately an I-924 application for pre-approval of an exemplar I-526 petition for an actual project.

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    Barbara Suri

    Immigration Attorney
    Answered on

    If a potential investor submits his application prior to the expiration, then his application will be adjudicated. After the expiration, this option will no longer be available. A potential investor may go with the direct investment option, by choice, as long as the project meets the requirements.

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    John J Downey

    Immigration Attorney
    Answered on

    There seems to be no doubt that the program will be extended. The question is whether or not it will be made permanent.

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    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    In all likelihood, the regional center program will be extended, even if only temporarily. Furthermore, if you have invested and the regional center program is not renewed (very unlikely), there would be some provision made for those investors already in the pipeline; you probably would be "grandfathered" so that you could proceed through the process.

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    Jinhee Wilde

    Immigration Attorney
    Answered on

    All the indications in the Congress are not whether the regional center program will be abolished, but how it should be changed to make the program better. Of course, the definition of "better" differs greatly from member to member. Currently, we think that the program will be extended for a short time as they work to iron out a lot of different issues being proposed. There are also a lot of indications that if the investor invests and completes the filing before September 30, 2015, they will be grandfathered into the current program. However, if you have a direct EB-5 business in which you would like to invest, that is an option for you. The key is making sure that the new business could sustain and grow the business and create 10+ direct jobs that could be backed by I-9s and W-2s by the time that you are ready to remove your condition approximately 4+ years from now.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    A few years ago, the EB-5 regional center program was up for renewal, and it was renewed. It is unlikely that the program will not be renewed, but it may be changed through the legislation. If you are truly concerned and want to take on developing an EB-5 project for a direct investment, then it would indeed be a good option.

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