I invested in an EB-5 project several years ago. In the original business plan approved by USCIS, the new commercial enterprise is set to construct a 24-floor mixed-use building with 304 hotel rooms and 8 residential units. I am about to file my I-829. Recently I learned that the project turns out to be a 22-floor building with 294 hotel rooms and 8 residential units. Jobs have been created as the original business plan described. Will this be considered a material change? Can it be a problem for I-829?
Answers

Bernard P Wolfsdorf
Immigration attorneysAny change impacting job creation can be material but it is likely that with an amended and updated economic report your I-829 should be approvable.

Hassan Elkhalil
Immigration attorneysI do not see that this change may affect your application since the job creation, the amount of investment and the project are still the same. I am sure the regional center may have filed to update the changes in the project to maintain its status as a regional center with the USCIS.

Barbara Suri
Immigration attorneysIn my opinion, this is not a material change and can easily be explained. In your I-829 filing, you will, of course, show that you sustained your investment and that the new commercial enterprise created the requisite number of qualifying, full-time jobs in the allotted period of time.

Fredrick W Voigtmann
Immigration attorneysMaterial changes are defined as those changes occurring before conditional lawful permanent resident status. In general, a material change would require a new I-526 petition filing. In your case, if you sustain your investment and the new commercial enterprise still creates the requisite number of qualifying, full-time jobs for U.S. workers within two years or within a reasonable period of time, your I-829 should be approved.

Julia Roussinova
Immigration attorneysThis should likely not constitute a material change. Project should be able to explain this in supporting documentation to be submitted with your I-829 filing. Hire an experienced EB-5 immigration attorney to assist you.

Lynne Feldman
Immigration attorneysCheck with the attorney for the project. Doesn't sound like a material change.

Salvatore Picataggio
Immigration attorneysA material change would be if they built the thing two counties over, or changed the project from hotel/residential to something entirely different, like retail or manufacturing. I would love to look into this further, but based on this alone, it is probably not material change.

Marko Issever
EB-5 Broker DealersThe more important criteria is that they can prove that they actually spent the amount of money in the business plan that they originally claimed the project would cost. Of course, the approved statistical model the economist uses assumes that not only the money is spent, but that at the same time the project is executed as planned. For the deemed number of jobs to have been created that deviates from the output of the statistical model, the actual project would have to differ much more substantially than the way you described. That said, when you file for your I-829, have your attorney disclose this and provide a satisfactory explanation, which you should be able to get from the regional center.

BoBi Ahn
Immigration attorneysYou can disclose the change in business plan, but as long as you met the job-creation requirements, the requisite capital is still at-risk and the business is operational, it isn't a material change that would affect your I-829.

Charles Foster
Immigration attorneysThe change in the project from 24 floors to 22, and from 304 rooms to 294, should not be deemed to be a material change. In any event, you're required to file your I-829, and in that petition you can both disclose and explain the rationale for the fewer number of hotel rooms and floors.

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