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Under what circumstances should the EB-5 capital be reinvested at the I-829 stage?

Per the USCIS requirement, the EB-5 petitioner needs to show that the money has remained invested and has created 10 permanent U.S. jobs during the two-year conditional green card period. If I have fulfilled the requirements and submitted evidence with my I-829 application, is it still necessary that the funds remain invested or that the funds are reinvested if the initial project was completed?

Answers

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    You only have to sustain the investment up until the filing of the I-829.

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    Daniel A Zeft

    Immigration Attorney
    Answered on

    If you have completed your two-year period of conditional permanent residency and you have filed the I-829 petition, then your funds do not need to stay invested in the EB-5 project.

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    A Olusanjo Omoniyi

    Immigration Attorney
    Answered on

    There are at least two reasons for the reinvestment. First, the agreement of the parties may specifically state it should be done. Thus, check your agreement in question if there is a reinvestment clause. Secondly, it is advisable that the fund remain invested until the approval of I-829, as the USCIS will be investigating all the facts, records and information provided for the I-829 application. Consult an EB-5 attorney for a review of your agreement to make sure your interests are better protected and addressed.

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    Charles Foster

    Immigration Attorney
    Answered on

    If you have filed your I-829 petition to remove conditions and you can show that the funds were fully deployed during that period of time, up until the time you filed your petition, it is not absolutely necessary that the funds remain invested thereafter. However, it would be safer for the funds to remain invested until you have received a favorable adjudication of your I-829 petition to remove conditions or the funds were reinvested if the initial project was completed.

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    Jinhee Wilde

    Immigration Attorney
    Answered on

    On June 14, 2017, U.S Citizenship & Immigration Services (USCIS) issued a revised Volume 6 of its Policy Manual which concerns EB-5 investors. The policy clarified the period of sustainment, as the conditional residency period, marked by "resident since ''date'' on the green card and ending two years later with ''expires'' date." This seems to mean complete redemption to the EB-5 investor could be made after the I-829 is filed after the full two years of conditional residency, even while the I-829 is pending if the requisite jobs have been created.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    Reasonable minds seem to differ on this. Some consider the I-829 filing enough. Others want to see the I-829 approved. I think USCIS has yet to really clarify this in its policies. There is also some project documentation that may require the filing or approval of all I-829 petitions for that project before a repayment can be made to any one investor.

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