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Questions and Answers > EB-5 Investments

How can I get a refund of my EB-5 investment since my child is going to age out because of the reauthorization lapse?

I and my close relatives invested with a regional center in California. Our children are going to age out because of the lapse in EB-5 RC. How can we get our money refunded from the regional center due to the lapse in RC? How can we select a good federal litigator who can help us get our money back with success?

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Answers

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    Daniel A Zeft

    Immigration Attorney
    Answered on

    Your agreement with the regional center determines if you will be able to get your investment refunded.

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    It is very important to look at the subscription agreement and other contracts you signed as to the terms of the investment. Usually, the investment involves a 5-year loan and the money can only be returned when the loan matures. If the Regional Center refunds the money outside the scope of the agreement, some feel this could even impact other investors because the investment is not deemed "irrevocably committed." If the investment provides for a refund if the I-526 petition is denied, or if the child ages out, then the age-pout would automatically trigger the refund. Like any investment, this is governed by the terms of the agreement. Also, not sure how the program lapse has led to an age-out because even if your child is 21, they have not necessarily aged out. You get to deduct the time the petition is pending from the age of the child, provided a visa number is available and your country is not backlogged.

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    Belma Demirovic Chinchoy

    Immigration Attorney
    Answered on

    You should read the PPM and related sub-docs. In them, you should find disclosures that would prevent you from winning such a suit.

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    Lynne Feldman

    Immigration Attorney
    Answered on

    If the I-485 was filed then should be protected. If stalled at the I-526 stage, then you are correct.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    That is going to depend on the language you agreed to in the PPM and other offering documents. Many projects disclaimed various risks, such as the lapse or elimination of the EB-5 program itself.