Can I get my investment money back if I withdraw my EB-5 application? - EB5Investors.com

Can I get my investment money back if I withdraw my EB-5 application?

My I-526 application has been approved. Since I am from a country that is subject to the backlog, I will have to wait for a long time before I can proceed to the next stage. I do not want to wait and want to withdraw my EB-5 application. How can I get the $500,000 investment back?

Answers

Phuong Le

Phuong Le

Immigration Attorneys
Answered on

Completely depends on the terms of your subscription. Check your offering documents. Terms will vary, but generally speaking, most won&#39t allow refund if the I-526 petition has been approved (since the money usually would have been released to the project already).

Ed Beshara

Ed Beshara

Immigration Attorneys
Answered on

The offering documents you signed may have committed your investment funds to the project regardless of the immigration outcome. More likely than not, if you withdraw your EB-5 petition or the EB-5 immigration process, you will not be able to get your money back. However, you may approach the EB-5 project to request a return of your investment funds.

Charles Foster

Charles Foster

Immigration Attorneys
Answered on

You can recoup your $500,000 after the approval of your I-526 petition, depending upon the terms of the investment as set forth in the private placement memorandum. If you do withdraw, you will be unable to maintain your conditional permanent residency nor remove the conditions and obtain your lawful permanent residency.

Belma Demirovic Chinchoy

Belma Demirovic Chinchoy

Immigration Attorneys
Answered on

The answer will be in the investment documents you signed with the project/RC. Most likely, the answer is no. You need to wait for the loan to mature and the borrower to repay it.

A Olusanjo Omoniyi

A Olusanjo Omoniyi

Immigration Attorneys
Answered on

Yes, it is possible to get your money back. It is advisable to request that your attorney initiate and process it for you. Lastly, look at the terms and conditions governing the withdrawal of your subscription agreement.

BoBi Ahn

BoBi Ahn

Immigration Attorneys
Answered on

If the money is invested in a regional center project, you would have to review your offering documents and the partnership agreement for the EB-5 project to see what the options and procedures are for withdrawing your funds.

Salvatore Picataggio

Salvatore Picataggio

Immigration Attorneys
Answered on

That depends on your project documents. Different offerings handle these kind of things differently. Some will allow for full or partial refunds. Some will not unless the case is denied. Your PPM and other offering documents should detail the refund and repayment criteria.

Bernard P Wolfsdorf

Bernard P Wolfsdorf

Immigration Attorneys
Answered on

It is unlikely that withdrawal is a basis to obtain a refund. The money has to be legally and irrevocably committed.

Debbie Klis

Debbie Klis

Securities Attorneys
Answered on

Regarding your question about whether you may receive your investment back if you withdraw your I-526 petition even though it has been approved, the answer depends on two items. Step one is to review the offering documents, including, in particular, the subscription agreement, operating agreement (or partnership agreement) and the private placement memorandum. These three documents should address withdrawal and investor redemption rights. With any luck the documents will permit a return of capital if an investor produces proof from USCIS that he or she withdrew from the immigrant investor program. If the documents provide that the investment is irrevocable and a return of capital is permitted only when USCIS denies an I-526, then the investor moves to step two. Step two would be to appeal to the goodwill of the principals to explain your situation that you are from a country that is subject to the backlog requiring a lengthy wait before you can proceed to the next stage. Explain further that, as a result of the backlog, you cannot achieve your goals under the immigrant investor program so you intend to withdraw your application.

Marko Issever

Marko Issever

EB-5 Broker Dealers
Answered on

It all depends on the discretion of the regional center. Typically, the only time they agree to give you your funds back is in the event of an I-526 rejection that was triggered due to project-related issues. If the I-526 is rejected due to source of funds issues or the I-526 is approved but you voluntarily decide to withdraw the funds, that would most likely be denied. You could always try, but your chances of approval are quite slim.

Jinhee Wilde

Jinhee Wilde

Immigration Attorneys
Answered on

Whether you could get your money back after I-526 is approved depends on the subscription and partnership agreement language. It is my understanding that while most of the reputable regional centers will return the investment when the I-526 is denied, they will not return the money until the maturity date of the loan they made after I-526 is approved. One regional center is in litigation over this issue and trying to fight with the investor not to return the investment just because the person is from a country where the visa retrogression is severe.

Lynne Feldman

Lynne Feldman

Immigration Attorneys
Answered on

Check the agreement you signed with the regional center.

Robert West

Robert West

Immigration Attorneys
Answered on

Read your contract with the regional center.

Vaughan de Kirby

Vaughan de Kirby

Immigration Attorneys
Answered on

It is important to understand that EB-5 involves two transactions. First, you are making an investment and secondly, because you made this qualifying investment, you are able to apply for your green card under EB-5. Therefore the return of your investment funds will be controlled by your agreement with the regional center project. I recommend you discuss this with your investment immigration attorney.

Fredrick W Voigtmann

Fredrick W Voigtmann

Immigration Attorneys
Answered on

Your rights and responsibilities should be listed in the subscription agreement, operating agreement or other legal document/contract you signed with the EB-5 project. Before you make any decisions or take any actions, you should consult with an experienced EB-5 attorney or business attorney who can review these important documents with you to determine the proper course of action.

Ying Lu

Ying Lu

Immigration Attorneys
Answered on

It depends on the agreement between you and the invested project. Some won&#39t allow investors to withdraw at all; some allow you to withdraw with a penalty. Please look through the agreement first.

Dale Schwartz

Dale Schwartz

Immigration Attorneys
Answered on

It depends on with whom you invested. If it was in a regional center, some of them will give you your money back, but most will not.

Julia Roussinova

Julia Roussinova

Immigration Attorneys
Answered on

If you chose consular processing on your Form I-526, your case is sent to the National Visa Center after approval by USCIS. Once you receive the NVC letter with your case number from NVC, contact NVC to withdraw your I-526 petition or your attorney can do it for you. NVC will then send your I-526 back to USCIS and USCIS will revoke your I-526 petition. You need to review your EB-5 project&#39s offering documentation regarding a procedure how to get back your EB-5 capital in the event you choose to withdraw your approved I-526 petition. You may want to have an attorney help you work with a regional center to get your funds back.

Stephen Berman

Stephen Berman

Immigration Attorneys
Answered on

It depends on your agreement with the other investors.

DISCLAIMER: the information found on this website is intended to be general information; it is not legal or financial advice. Specific legal or financial advice can only be given by a licensed professional with full knowledge of all the facts and circumstances of your particular situation. You should seek consultation with legal, immigration, and financial experts prior to participating in the EB-5 program. Posting a question on this website does not create an attorney-client relationship. All questions you post will be available to the public: do not include confidential information in your question.