My EB-5 I-526 was approved 4 years ago and I had my interview 3 years ago. My visa application has been under administrative processing since then. The company I invested in created enough jobs. However, they filed for Chapter 11 bankruptcy a year ago. Am I still eligible for an EB-5 visa? Will this affect my immigration process?
First consult with an EB-5 attorney. Based upon required jobs being created and your investment funds at risk until the end of the conditional permanent residency period, you may still qualify for an unconditional residence card.
Bankruptcy on its own is not a basis for denial provided the investment created the necessary number of jobs. It may be possible to save this case.
Probably need more details but Chapter 11 is not a full bankruptcy, so as long as the funds were put into the project and the required jobs created, you should be fine at the I-829 stage.
It is really hard to tell given the unusual circumstances you mentioned regarding the bankruptcy and 3-year-long administrative processing. You will probably need to retain an experienced attorney to go over your case details first.
If the jobs were created, you should be able to get your visa. To get back some or all of your money, you should work with a litigation attorney to make sure you exercise all of your rights in the bankruptcy court. You will need to file proofs of claim and make sure your claims are not extinguished.
If your investment in fact created 10 new jobs, perhaps you can still get approved.
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