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Is it considered a material change if the ownership of the EB-5 project changes?

If the EB-5 program I have invested for five years is sold to others before I get my conditional green card due to the visa backlog, will it affect me getting the conditional green card? Will this be considered a material change? What should I do as an investor if the sale is pending?

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    A Olusanjo Omoniyi

    Immigration Attorney
    Answered on

    Sometimes the change of ownership is not usually a problem, the issue at stake is whether the terms and conditions under which you invested have changed diametrically vis a vis the operating agreement that was in place at the initial stage. Make sure you and your attorney are on top of what is going on in this regional center, essentially this is to ensure your investment interests are in line with the operations of the regional center and all the requirements of EB-5 are being met.

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    Belma Demirovic Chinchoy

    Immigration Attorney
    Answered on

    A change in one of the owners, on its own, is unlikely to count as a material change but it depends especially if it is during the I-526 pendency. USCIS would likely need to be notified about this. I advise you to discuss with your attorney and make sure the attorney does not represent the project as well.

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    A change in ownership of the regional center does require an amendment to be filed with immigration but this does not necessarily imply there will be a material change to the project you have invested in.