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How can I switch investment project within the same regional center without losing my priority date?

I invested in a hotel construction project through a regional center. I just submitted my I-526 application three months ago. Recently I learned that the regional center is offering another EB-5 project of a restaurant franchise, which I feel is more suitable for my risk tolerance. Is it possible to switch project at this point? How should I proceed?

Answers

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    This would be very difficult at this stage. Material change while the I-526 petition is generally not permissible. However, it may be possible after the petition is approved, but it is still fairly risky.

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    Charles Foster

    Immigration Attorney
    Answered on

    If you wish to invest in a different project, after you've already filed your EB-5 petition on Form I-526, you would have to negotiate with a regional center, have them return your initial investment, and then file a new I-526 petition. Since you only filed three months ago, you would not lose any significant time regarding processing or visa availability.

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    Mark AM Catam, Esq

    Immigration Attorney
    Answered on

    You would need to file a new I-526 petition.

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    Marko Issever

    EB-5 Broker Dealer
    Answered on

    I am not aware of any way to switch projects and still not lose your priority date. The I-526 application is project-specific. Once you decide to switch projects, as far as I know, even if it is sponsored by the same regional center, you will need to withdraw the old one and start all over again. That said, do not take any action before consulting with your immigration attorney.

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    Vaughan de Kirby

    Immigration Attorney
    Answered on

    You would need withdraw your existing application and submit a new I-526 and thus lose your priority date. But do discuss this with your investment immigration attorney before making any decision, as he or she may have an appropriate strategy for you.

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    Lynne Feldman

    Immigration Attorney
    Answered on

    Someone would need to review the documentation signed with the I-526. Start with the regional center counsel who should know if this is an option.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    Currently, there is no way to transfer investments without submitting a new I-526. Maybe if the RC had some sort of portfolio structure with multiple projects, and the one NCE is going to loan to multiple JCEs, but otherwise you probably have to start over.

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