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How quickly do EB-5 funds have to be redeployed after the loan is repaid to maintain investors' "at risk" status?

I invested in a hotel project that recently refinanced and paid back the limited partnership I invested into. I am a Chinese investor and I am not close to filing my I-829. The regional center says it will be reinvesting the capital into another hotel project. However, the investment might not be made for another three months. Will this waiting period violate the "at risk" requirement? If so, what can I do?

Answers

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    Raymond Lahoud

    Immigration Attorney
    Answered on

    It is best for you to contact an immigration counsel ASAP, as it seems like the project creating the jobs is a new one. Was the change in the underlying project reported to USCIS?

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    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    There is no specific rule about timing, but it would be wise to redeploy as quickly as possible, i.e., within a reasonable time or as soon as practicable, so that USCIS is less likely to find that the capital was not at risk for the conditional period. If there is a good reason, i.e., a financial- or business-based reason, why the capital cannot be deployed faster than three months, then this should be documented and made part of the immigration file (for the I-829 filing).

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    Robert West

    Immigration Attorney
    Answered on

    If you did not get your money back, then the money is still at risk.

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    Mark AM Catam, Esq

    Immigration Attorney
    Answered on

    EB-5 rules do not provide a specific timeline of when funds must be redeployed.

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    Phuong Le

    Immigration Attorney
    Answered on

    There is no bright line test, but the general standard is that the funds have to be redeployed within a "reasonable amount of time." If it takes three months here, then I''d reach out to the NCE to see whether it''s reasonable under the circumstances (which they''ve presumably analyzed before making that decision).

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    Belma Chinchoy

    Immigration Attorney
    Answered on

    There is no hard-line rule on the amount of time in which the funds have to be redeployed. Holding the funds for three months should not present a problem. Speak with your I-526 filing attorney and the RC and get their opinions in writing.

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    Charles Foster

    Immigration Attorney
    Answered on

    First of all, it is in your interest for the funds to be reinvested at the earliest possible date in order to maintain your eligibility. As a limited partner in a regional center project, you actually have very little say in the conditions upon which the funds will be reinvested into another hotel project, other than any terms or conditions that were set out in the original paperwork, including the private placement memorandum. Given the fact that it takes time to implement an investment and do the due diligence and related matters, some reasonable delay should not violate the "at risk" requirement.

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    BoBi Ahn

    Immigration Attorney
    Answered on

    The USCIS position regarding "redeployment" of invested funds is that the original investment made by a new commercial enterprise (NCE) in a job-creating entity should remain outstanding throughout the I-829 petition process. However, there has been no further detail or policy statement by USCIS regarding the specific requirements for redeployment of investment funds by the NCE. The three-month waiting period, as long as the funds are still committed to the new project, should be fine.

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    A Olusanjo Omoniyi

    Immigration Attorney
    Answered on

    With the investment paid out, there may not be a claim for violation of "at-risk" requirement. Instead, the focus of your inquiry and concern should be how the regional center can successfully process your I-829. The reinvestment might not be enough to address your concern, as it is an entirely different pursuit. Advisably, contact an EB-5 attorney to look at the entire facts.

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