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How can an EB-5 investor whose EB-5 investment has failed stay in the U.S. with a valid conditional green card?

The EB-5 project I invested in was failed after I got my conditional green card. I have been refunded the investment capital. My green card expires in October 2020. Can I still use my green card to reside in the United States until the expiration date, or do I have to give up my unexpired green card and leave the country now?

Answers

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    If the investment was made in good faith and the business failed, you can apply for a new green card by making a new investment and then surrender this green card when the new petition is approved. We have done it a few times and it is complicated but possible. Since your I-829 will likely be denied eventually, you must take steps to find another path but the card is not automatically canceled at this time.

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    Stephen Berman

    Immigration Attorney
    Answered on

    Your status is valid until it expires. You are allowed to live in the U.S. until then.

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    Lynne Feldman

    Immigration Attorney
    Answered on

    You have the option to redeploy the funds in another project, which is the best if you want to keep the green card.

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    Phuong Le

    Immigration Attorney
    Answered on

    I would need a little more background, but generally speaking, if you have already completed your conditional permanent residency period and have been repaid your investment capital, then I am assuming you have also filed your I-829 petition and the national visa center would only repay your money if you were EB-5 eligible. Even though your project failed, there is no requirement that the EB-5 project remains in business after you have completed your EB-5 requirements. Check with your project or attorney. You may be lucky.

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    Charles Foster

    Immigration Attorney
    Answered on

    You still have a valid lawful permanent residency or green card until it expires on its face or if you file your I-829 petition until it is denied.

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    BoBi Ahn

    Immigration Attorney
    Answered on

    There seems to be some red flags here. If the project failed, how were you refunded the investment capital instead of losing the money in a failed project? For EB-5 purposes, the investment should be at risk without guarantees of a full refund. You may be able to redeploy the capital but you will have to resolve this issue of full refund of investment capital.

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