My I-526 application was approved about 6 months ago for a wholesale/distribution business in a TEA. The initial investment was $500,000. Now, our warehouse lease is set to expire and we have to move to a new location. It will be another warehouse location in the same county but not a TEA. My business plan does not change with this move and we will still maintain at least full 10 employees. What do we need to do to ensure the eligibility for my I-829 application? Thank you!
This may be considered a material change. Please consult with an EB-5 immigration attorney to look into this matter further.
First, retain the services of an EB-5 economist and EB-5 immigration attorney. The economist may analyze the contiguous census tracts of the new business location to determine if it is in a TEA. Also, the original business location was located in a TEA and existed at the time of the investment and the ordinal filing of the I-526 petition. The required number of jobs will be the same whether the business is in a TEA or not.
This will adversely affect your future I-829 filing and you may need to file an amended I-526. Discuss with your EB-5 immigration attorney.
Relocating outside of the TEA is a significant/material change even if such change occurs after the filing of the I-526. This may require a filing of an amended Petition and increase in minimum investment amount. It will definitely affect your I-829 filing, as well.
Your move may constitute a material change and technically you might be required to file an amendment. Furthermore, when you file your petition to remove conditions and Form I-829, you must provide information regarding your actual business along with any jobs you have created. As a result, you may not be in compliance if you move to a location that does not meet the definition of a TEA. Your best bet would be not to move until you have an improved I-829 Petition. You might also check to see whether the new location would meet the TEA requirement under the current definition.
Changes such as this prior to the approval of the I-526 can be critical and cause a denial. This is a huge issue and you may have to increase the investment amount or refile again with the higher investment amount.
To ensure your eligibility, you must not do that and instead stay within the TEA.
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