My I-526 was approved last year and I am waiting for my priority date to become current. The project I invested in went bankruptcy this year. With the new changes to the EB-5 regional center program, can I reinvest in another project without giving up my previous priority date?
This is unfortunate, but you can certainly reinvest your money in a new project. However, I am afraid you can neither reclaim your priority date nor operate under the old rules. Thus, the amount you have to reinvest will be higher which may be either at least $900,000 or $1.8 million depending on the location of the new project.
The new regulations provide for greater flexibility to immigrant investors who have a previously approved EB-5 immigrant petition. When they need to file a new EB-5 petition, they generally now will be able to retain the priority date of the previously approved petition, subject to certain exceptions.
You first should try to preserve your initial I-526 investment by showing funds fully invested and jobs created.
Under the new regulations that went into effect on Nov. 21, 2019, you can make a new investment, file a new I-526 and keep your priority date. You would have to qualify under the current rules though, which means investing $900,000 or $1.8 million.
It looks like the policy supports this, but definitely work with an immigration attorney to ensure this is done properly.
Yes, under the new rules, but it will require an increased amount of investment.
