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What are my options if an EB-5 project fails before permanent status?

If an EB-5 regional center ultimately fails to prove that it provided the 10 jobs needed to remove the conditions for permanent green card status, what are the steps an EB-5 investor could take to still achieve permanent status?

Answers

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    Julia Roussinova

    Immigration Attorney
    Answered on

    Under current law, you will have to reapply and file a new I-526 based on a new investment. Under proposed law, investors may have a certain time period that allows them to move the investment.

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    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    You should consult with an experienced immigration attorney to review all of your options, but you likely will have to qualify for a new EB-5 investment if the existing project you are in fails. There is no "halfway" or "good faith" exception to allow an investor in a failed EB-5 project to still achieve permanent residence.

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    Charles Foster

    Immigration Attorney
    Answered on

    If the EB-5 regional center fails to prove that it created the 10 jobs required for each EB-5 investor, it could possibly adversely impact the approval of your I-526 EB-5 investor petition. In the worst case, you would have to look at the terms of your investment to make sure that should the EB-5 petition not be approved, at the very least the regional center would return your $500,000 investment.

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    Jack C Sung

    Immigration Attorney
    Answered on

    It would be impossible to obtain a green card if the EB-5 regional center fails.

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    John J Downey

    Immigration Attorney
    Answered on

    This is problematic because under the statute your application would fail. However, there has been movement at USCIS to try and resolve this issue especially if there was any fraud or misrepresentation involved. The best way to prevent this is to have a business professional perform due diligence of the project and developer before you invest.

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    The designated framework is to file a new I-526 based on a new investment. If that is not possible, investigate green card options based on employment or family sponsorship.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    Currently, you can only find a new New Commercial Enterprise and reapply. Changes to the program may allow for transfers within a certain window of time.

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    Robert Cornish

    Securities Attorney
    Answered on

    Hire an attorney to sue the project, remove the regional center operators and get your money back. Or in the alternative, negotiate a purchase of the property and have someone develop it.

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