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Under what conditions of a failed project could my green card be revoked?

If I invest $500,000 in a regional center project, and am granted my permanent green card, and for whatever reason the project fails, would the government revoke my permanent green card? What are the conditions of a failed project under which I would have my green card revoked?

Answers

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    Ed Beshara

    Immigration Attorney
    Answered on

    The initial conditional permanent residency is granted for a two year period. During this two year conditional permanent residency period if the EB-5 business fails and required jobs are not created then the USCIS may not approve the I-829 petition. On this basis you may loose your opportunity to retain permanent residency. However, based upon current EB-5 policies, if there is proof that there will be substantial compliance that the required jobs will be created within 12 months, then the I-829 could be approved and unconditional permanent residency will be obtained. Once the unconditional permanent residency is obtained, and subsequently the EB-5 business fails then the investor will still be able to keep the unconditional permanent residency.

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    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    If the project fails AFTER you receive your permanent green card, it is extremely unlikely that your green card would be revoked. Green card revocations happen if there is fraud/misrepresentation, abandonment, or due to certain criminal activity/convictions.

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    Kyle Barella

    Immigration Attorney
    Answered on

    If you receive your permanent green card, meaning your conditions have been removed and the project fails, you should not lose your green card. However, if the project was a sham EB-5 project and you knowingly invested, you may be subject to the revocation of your green card. Your green card can also be revoked if you obtained it by fraudulently providing information to USCIS or an embassy during your application. Please contact an EB-5 immigration attorney if you have concerns about your project.

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    John J Downey

    Immigration Attorney
    Answered on

    If you have a permanent green card there is no problem. If you are in the "conditional'' status, your application could fail in that the jobs were not created or the project went bankrupt. Are you in the conditional status?

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    Oliver Huiyue Qiu

    Immigration Attorney
    Answered on

    If you have a permanent green card, that is to say USCIS has approved Form I-829. By contrast, a conditional green card is only valid for two years, which is typically what an EB-5 investor has prior to the I-829 approval. A permanent green card is facially valid for the duration of ten years, which can be renewed indefinitely until one becomes a U.S. citizen. Having said that, once USCIS approves Form I-829 and issues the permanent green card, the investor is no longer tied to the health of the investment. For example, if the project fails at that moment, the investor gets to keep the green card. However, USCIS also has the authority to revoke a permanent green card or an approved I-526 or I-829. It happens when USCIS believes there is evidence of fraud or misrepresentation, or when it realizes the application was approved in error. Under those limited circumstances, USCIS will initiate a revocation process by issuing a written notice of intention to revoke and the investor will be provided time to respond. If USCIS makes a final decision to revoke, its decision can be appealed and ultimately be litigated in the federal court.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    If you have already removed the conditions for permanent residency, you can actually exit the investment entirely. By then the project can fail and it should not have an effect on your green card.

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    Steffanie J Lewis

    Immigration Attorney
    Answered on

    Please check your "green card." If you have conditional permanent resident status, your green card will record two dates, the date on which you became a U.S. permanent resident and the date your conditional permanent residency expires. Note that your conditional status will expire on the second anniversary of your becoming a U.S. conditional permanent resident. It becomes your obligation to remove the condition from your status before it expires. To remove the condition you must file no later than 90 days prior to the expiration date. In the application to remove the condition, you must include tax returns and employee reports, but not exclusively, to prove that the regional center enterprise in which you invested was established and produced 10 full-time jobs. If the enterprise fails, for some reason, likely you would be unable to remove the condition from your status. The government would not need to revoke your status. Your conditional status would cease to exist as a matter of law. You would be requested to leave the United States because you would have no status. There may be possible relief in such a situation depending upon many personal as well as business factors to be considered. The best remedy is prevention. Before investing, have a knowledgeable person, or yourself, review the investment thoroughly to make the best judgment that the enterprise will not fail and will create the requisite 10 full-time jobs. Our firm, and probably most others, routinely evaluate the proposed enterprise before money is invested. However, please remember that it is required that the EB-5 money be invested at risk. If risk is removed, the application for a "green card" will fail. But, in the event that an enterprise fails, it is wise to seek the serves of an attorney immediately.

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    Stephen Berman

    Immigration Attorney
    Answered on

    Yes, they will deny the application for removal of condition from your status. Failed means that you did not produce 10 new jobs or did not invest the money.

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    Ian E Scott

    Immigration Attorney
    Answered on

    When a green card is issued after your I-526 and I-485 (or through consular processing) are approved, it is conditional for two years. The condition relates to the regional center creating the requisite number of jobs. (10 jobs per green card - e.g. if they had 20 EB-5 investors they would need to create 200 jobs). If the project fails and the jobs are not created, you would not be able to remove the conditions on your green card and as such, you would lose it. In addition, you would likely not get your money back.

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    Lynne Feldman

    Immigration Attorney
    Answered on

    Once conditions are removed and your I-829 is approved with 10 year green card issued, there is little danger or revocation unless they discover YOU committed fraud.

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    Ying Lu

    Immigration Attorney
    Answered on

    If you have obtained your permanent green card, the government will not revoke your green card just because the project you invested in fails. But you may not be able to get back your full investment.

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    Jinhee Wilde

    Immigration Attorney
    Answered on

    If you have obtained the approval on the I-829, Removal of Condition application, and you received your permanent green card, then you should not get your green card revoked for the project that fails thereafter. Unless the project that was the basis for your case was fraudulent and you were complicit in that fraud, I do not think USCIS will have any basis to revoke your green card after the condition was removed.

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