+1-800-997-1228
Questions & Answers

What will happen if an EB-5 investor withdraws a pending I-829?

My family filed the I-829 application in 2011, but the case is still pending. My children are still renewing their I-551 stamps yearly and are still in school now. We are considering withdrawing the I-829. What is the possibility of getting the EB-5 investment money back at this point? Also, if we plan to change the children's I-551 status back to an F-1 visa, what is the possibility of getting the F-1 approved successfully? Would this eventually affect the eligibility of applying for OPT afterwards?

Answers

  • Avatar

    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    If you withdraw your pending I-829, the USCIS likely will terminate your and your family's conditional permanent resident status. Your ability to get your EB-5 investment capital back will depend upon various factors, including the agreements you signed with the EB-5 project (new commercial enterprise), and the financial ability and desire of that entity to cash out your investment. As for changing status to F-1, it may be difficult because your children might be considered intending immigrants and not bona fide nonimmigrant (temporary) students. On the other hand, since you withdrew the I-829 and presumably abandoned your conditional lawful permanent residence, you could argue that this is an indication of nonimmigrant intent and proof that you and your family do not intend to permanently reside in the United States. Assuming your children obtain valid F-1 status, the previous EB-5 status should not affect their ability to obtain OPT after graduation, assuming they are otherwise eligible.

  • Avatar

    Salvatore Picataggio

    Immigration Attorney
    Answered on

    Repayment of funds will depend on the particular project documents and agreements. Each project will have its own procedures for withdrawing investors, which is why immigration due diligence should be performed on projects. Having an immigrant (green card) petition filed and actually having the conditional permanent residency may make it difficult to go back to a nonimmigrant status (like the F-1).

  • Avatar

    Jinhee Wilde

    Immigration Attorney
    Answered on

    Whether you could get your investment fund back from the regional center or your limited partnership is based on the partnership and subscription agreement terms. If you withdraw your I-829, then you and your family will no longer be permanent residents as the continuation of the I-551 stamp is valid while the application is pending. As you all have had clear immigration intent and in fact been permanent residents, it is highly unlikely that changing your status to F-1 will be approved. Normally, you will need to go back to your home country after giving up your permanent residency and stay out for a minimum of one year before attempting to come back on a non-immigrant visa category. I think perhaps you may wish to invest in another regional center project with a better track record and obtain another I-526 and conditional residency.

  • Avatar

    Lynne Feldman

    Immigration Attorney
    Answered on

    In terms of your money back from the project, I suggest you have a business attorney in the state of the project review your documents and advise you of your rights. Why is the I-829 pending for so long?

  • Avatar

    John J Downey

    Immigration Attorney
    Answered on

    Return of the money will depend on your agreement with the project developer, regional center partnership, etc. F-1 status should not be affected nor their OPT.

  • Avatar

    Stephen Berman

    Immigration Attorney
    Answered on

    If you withdraw the petition you will not be in status in the United States. Your children would need to leave the United States and apply for student visas. Regarding your investment, that is between you and the investment or business which has your money. The normal rules for OPT apply.

  • Avatar

    Ian E Scott

    Immigration Attorney
    Answered on

    The return of any EB-5 money is governed by the offering and other project documents that you signed. For most regional centers, they only return money if the I-526 is not approved and not when the applicant withdraws for some reason.

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.