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What happens after an EB-5 regional center closes?

I received an RFE due to the closure of the regional center. However, all of the rest of my documents, banks statements, etc., are approved. So now what? What are my options if the EB-5 regional center has closed?

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    A Olusanjo Omoniyi

    Immigration Attorney
    Answered on

    We need more facts on this situation. The question is simply at which stage are you currently at now? Is the center in bankruptcy? Have you paid in any money to the center? If the answers to these three questions are no, then you have not really experienced any financial loss. However, you may have to start all over with another center. Further, from your question, it appears an application has been filed on your behalf, but is your money in escrow? If the center is no longer in existence, you have to start all over again. Advisably, to examine and address the best path on this matter, seek advice from an EB-5 attorney.

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    Julia Roussinova

    Immigration Attorney
    Answered on

    It is necessary to know what the RFE asks for. It may be that you will need to find another regional center project and file a new I-526 based on a new regional center project. Did your regional center project documentation provide for a refund option in the event of closure or termination of designation of the regional center by USCIS? You should discuss your case with EB-5 immigration attorney to see whether you should or should not file the I-829.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    If the EB-5 regional center loses its designation after the investor has his I-526 petition approved and obtained his conditional permanent residency, he will not be able to remove the conditions at the end of the conditional period. The investor will have to invest in a new project with a different regional center. Ideally, the regional center/new commercial enterprise had some refund provisions in the event of the regional center failing.

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    John J Downey

    Immigration Attorney
    Answered on

    If it is closed, I presume the project is no longer viable? What does the RFE ask for? If the project is no longer in business, then you need to find a new project to invest in.

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    This has not been fully explored. It is a huge concern. The best option would be if another regional center would step in. However, I would still file the I-829 and argue impossibility of performance or extraordinary circumstances, or compliance if jobs were created, but be ready to have to file a new I-526 which is the solution presently anticipated.

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    Xiaosheng Huang

    Immigration Attorney
    Answered on

    You need to talk the regional center to know their plan after closure. If they can provide a solution, it will be better. Otherwise, you need to find a new project. You can get suggestions regarding how to make the transfer and how to choose a project.

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