+1-800-997-1228
Questions & Answers

How can I redeploy my EB-5 funds without affecting my I-829 approval?

My family has completed the I-829 application this past May, and the project that I invested in is completed and in full operation. My investment has matured, but the firm is suggesting that I should invest in a different project with them. Can I withdraw my funds without damaging my chances of getting an I-829 approval?

Answers

  • Avatar

    Ed Beshara

    Immigration Attorney
    Answered on

    First, consult with your EB-5 immigration attorney and the securities attorney. The offering documents you signed should state how your investment funds should be redeployed. The EB-5 legal requirement is that your investment funds have to be sustained in the new commercial enterprise until your I-829 is approved.

  • Avatar

    BoBi Ahn

    Immigration Attorney
    Answered on

    It may be a good idea to stay invested until the I-829 is decided in case USCIS issues a request for evidence regarding the investment, etc.; however, you do not have to re-invest in another project with that entity.

  • Avatar

    Barbara Suri

    Immigration Attorney
    Answered on

    If satisfy your obligations to both the Government and the project, it is my opinion that you can withdraw your funds, unless your signed contract states differently.

  • Avatar

    Belma Chinchoy

    Immigration Attorney
    Answered on

    You cannot withdraw funds before I-829 adjudication. If the loan term is up, the funds may need to be redeployed but it does not have to be in another project. Discuss with your attorney to make sure your interests are protected.

  • Avatar

    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    USCIS has not finalized its guidance on sustainment but it appears that, if you have filed the I-829, you should meet the definition of “sustained” for your investment. The most conservative position is that the money should remain in the NCE in some form, possibly in certain bonds. Make sure the jobs were created before withdrawing, as you do want to make sure your I-829 is approvable.

  • Avatar

    A Olusanjo Omoniyi

    Immigration Attorney
    Answered on

    Generally, you are supposed to look at the relevant exit clause of your investment agreement on when you can withdraw. In most cases, investors cannot withdraw their investment until the I-829 has been approved. However, seek advisement on your investment with an attorney before you re-invest it in another project with the same company.

  • Avatar

    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    In order to have your I-829 petition approved by USCIS, you must demonstrate that the requisite job creation took place and that you sustained your investment during the “conditional period.” The question had been, until recently, whether the conditional period is considered to be two years of conditional residence prior to your filing the I-829 or whether the conditional period for sustainment purposes means the entire period of your conditional residency until your I-829 is approved. USCIS has come out with a statement that it considers the conditional period to be the two-year period. Therefore, you could rely on USCIS and withdraw your funds and not have to “redeploy” them as is being suggested by the regional project. On the other hand, to be safe, it is recommended you sustain your investment until your conditions have been removed. You should consult with an experienced immigration attorney to discuss your options.

  • Avatar

    Lynne Feldman

    Immigration Attorney
    Answered on

    Yes, if the project is built. However, read the fine print of your agreement with the project.

  • Avatar

    Michael A Harris, Esq

    Immigration Attorney
    Answered on

    Upon the approval of the I-829, an EB-5 investor should be able to withdraw their capital investment. If your I-829 has not been approved, then there are requirements for the investment to remain sustained. There is much debate about this subject, so I would suggest you speak with a competent EB-5 specialist.

Add your comment

Use a Facebook account to add a comment, subject to Facebook's Terms of Service and Privacy Policy. Your Facebook name, photo & other personal information you make public on Facebook will appear with your comment.