What responsibilities does a regional center have for its EB-5 investor’s petitions?

Generally, a regional center is responsible for creation of indirect (induced) jobs, providing all necessary documents for both I-526 and I-829 petitions, and monitoring status of each EB-5 investor until they receive their permanent residence/funds. In a direct case, you are responsible for direct job creation, all necessary documentation, and active management of a direct investment.

The regional center should provide documentation for investors'' petitions and keep monitoring investors'' petition status. If you invest directly, then you will have to prepare documents for your petitions.

A principal difference for pooled investments is that a regional center will have annual reporting requirements to USCIS each year. Another is that jobs will be created differently (i.e. direct jobs only in a direct investment and/or indirectly/induced in a regional center). Hence, the general partner overseeing the partnership in either pooled EB-5 fund will have an obligation to ensure job creation and proper expenditure of funds at the I-526 and I-829 stages. If you are seeking to invest in your own, personally-controlled business, then you will be personally responsible for maintaining your investment and achieving the job creation goals.

The responsibilities of the regional center will depend on whether the regional center is the issuer or lender and the project is a different job creating entity. The new commercial enterprise and the job creating entity may be controlled by the project entities which are different than the entities owned and/or controlled by the regional center.

A regional center should be keeping track of investor petitions (filed, approved, etc.) to be ready for their annual required reporting (Form I-924A). The regional center should also help provide the required information and documentation necessary for filing the I-526 and I-829. For a direct project, the new commercial enterprise and, more likely, the individual investor is responsible for keeping track of these petitions, and there is no reporting requirement.