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What are the annual reporting requirements for regional centers?

I am a real estate broker in Los Angeles. I am interested in using the EB-5 program to attract new clients. How would I go about creating a regional center? From what I have read, regional centers also have annual reporting requirements once established. What are EB-5 regional centers required to report annually?

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    Ed Beshara

    Immigration Attorney
    Answered on

    An experienced EB-5 immigration attorney can assist you in preparing your application for regional center designation. The regional center has to file an I-924A with the USCIS EB-5 office on an annual basis stating the EB-5 project and investor activity.

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    John J Downey

    Immigration Attorney
    Answered on

    Basically they are required to report on the contribution of the investor and the job creation to-date. The entire list can be found at the USCIS site and should be reviewed, as in these days of Memorandums things change quickly.

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    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    Regional center application packages are not for the faint-hearted; they can take a year or longer and cost over $100,000. That is before you raise EB-5 money and your first investor files his or her I-526 petition. If you want to become an EB-5 regional center, just know that you will be involved in it as a full-time business, or you will need have to have a full-time management team to run it. The annual reporting requirements are not that difficult, assuming you have EB-5 projects and investors. If you do not, then the USCIS might terminate your designation for failure to provide any economic benefit or job creation.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    There is a form (I-924A) that requests information on the principals of the regional center, the identity of the new commercial enterprise(s) and project(s), and information regarding the EB-5 funds obtained and jobs created for each. This, as well as the initial setting up of the regional center, is best done with the assistance of EB-5 immigration counsel and a team of professionals.

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