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What is the difference between EB-5 projects with and without I-924 approval?

What's the difference between EB-5 projects with and without I-924 approval? I was told that the I-526 petition takes a shorter time if it''s with an EB-5 project that has I-924 approval. Is it true?

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    The I-924 is for regional center designation. An I-526 can be filed for an investment into a project that is affiliated with a regional center, or without any regional center affiliation (and therefore cannot count indirect jobs). I-924 petitions can also be used to obtain pre-approval of a project that is affiliated with a regional center, which is actually a very good thing!

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    I-924 is an exemplar-pre-approval of the project. Not sure that it is shorter, maybe safer.

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