Since I have invested $900,000 in a TEA, what happens with my EB-5 application now since the investment amount has returned to $500,000? - EB5Investors.com

Since I have invested $900,000 in a TEA, what happens with my EB-5 application now since the investment amount has returned to $500,000?

I invested $900,000 in a TEA after the EB-5 Modernization Rule increased the investment amount. I just heard that the rule has been vacated by the courts. What happens with my investment now? Can I get a refund for $400,000?

Answers

Bernard P Wolfsdorf

Bernard P Wolfsdorf

Immigration Attorneys
Answered on

The investment amount is regulated by the documents you signed, and while I have not seen your documents, I doubt they provide for a refund of the $400,000 because of the invalidation of the regulations.

Salvatore Picataggio

Salvatore Picataggio

Immigration Attorneys
Answered on

Unlikely, unfortunately. I did not notice that the decision would apply retroactively. Reauthorization or new legislation would be your best bet to clarifying what is going on.

Lynne Feldman

Lynne Feldman

Immigration Attorneys
Answered on

Unlikely because at the time you invested, that was the proper amount. You can check with the project but you will likely need to sue to get the difference returned.

Belma Demirovic Chinchoy

Belma Demirovic Chinchoy

Immigration Attorneys
Answered on

A refund, at this time, is not advisable even if it is possible (which is highly unlikely).

Dale Schwartz

Dale Schwartz

Immigration Attorneys
Answered on

Some Regional Centers are offering to refund $400,000 if the case is won on appeal. Everyone is waiting to see. No center will take just $500,000 yet.

Robert V Cornish Jr

Robert V Cornish Jr

Securities Attorneys
Answered on

You should read your PPM, but generally, the project has no obligation to return money to you paid in excess of the investment amount. Unless your project amends its PPM and is in a position to return the excess funds, your investment (especially if it is a loan) will remain the same.

Fredrick W Voigtmann

Fredrick W Voigtmann

Immigration Attorneys
Answered on

If you already invested in a regional center project, you should check with the regional center. You probably cannot get a refund because the contracts you signed at the time will control what happens.

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