How can I set up my own EB-5 regional center or rent one? - EB5Investors.com

How can I set up my own EB-5 regional center or rent one?

A developer wants to raise capital through the EB-5 program in Warren County, Ohio for a new automated store and lock facility of which is under contract and getting additional site plans and engineer drawings form multiple companies.

What is the time allocation to either set up own regional center for national expansion or rent a center or borrow from a regional center?

Answers

Bernard P Wolfsdorf

Bernard P Wolfsdorf

Immigration Attorneys
Answered on

It usually takes at least 18 months to process a regional center application and we regularly file them. There is also a list of regional centers on the USCIS website but as with any company you work with, you need to do due diligence to ensure the RC is stable and does not have other problems. If terminated this could be problematic for your project.

Salvatore Picataggio

Salvatore Picataggio

Immigration Attorneys
Answered on

There are unique EB-5 requirements for a business regarding sources and uses of funds, job creation, and ownership. Affiliating with an existing RC can get you to filing I-526 petitions more quickly if you do not need to amend their geography or industry classifications.

Dale Schwartz

Dale Schwartz

Immigration Attorneys
Answered on

You can certainly apply to get your own Regional Center, but it is taking USCIS 1-3 years to approve them! Some people who already have regional centers approved (and you would have to find one that covers your geographic area) will "rent" you their center. I have seen them charge $25,000 to $50,000. A few ask for a 5% interest in your project as an "equity kicker". But you may not need a Regional Center. If your project is projected to create enough jobs, you can do your own EB-5 project without using a Regional Center. Your project can accept multiple investors at $900,000 each (if you are in a rural area or a high unemployment area), as long as you will hire 10 employees for each EB-5 investor. There is a court case going on right now that may well put the minimum investment back to $500,000 soon!

Lynne Feldman

Lynne Feldman

Immigration Attorneys
Answered on

You would need to look at the current processing time for the I-924 which is the form required to get approval of a new Regional center. Currently, it is showing 35-38 months processing time (uscis.gov). You can check with other Regional Center to see if you can partner with them and if the approval process would be any faster.

Fredrick W Voigtmann

Fredrick W Voigtmann

Immigration Attorneys
Answered on

The USCIS processing time for an I-924 for a new regional center is about three years. It would be faster and cheaper to affiliate with an existing regional center that has a USCIS designation letter covering your project''s geographic location and industry scope.

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