I just submitted my I-829 application. I want to know the process of getting my EB-5 capital back when my I-829 is approved. Do I need to submit some kinds of forms to the regional center and make the request, or do I have to wait until the regional center reach out to me?
Check the offering documents you signed (PPM, operating agreement or partnership agreement). Their procedures should be set out in those. An immigration attorney can help review.
You need to review the program documents to determine this and talk to the regional center itself, as they all handle things differently.
Your subscription agreement should have stated what is the exit strategy or procedure would be followed. Also, you can contact the regional center to confirm what the next steps are in exiting from the project. Advisably, consult your EB-5 attorney so as to initiate the exit process.
Look at the terms of the subscription agreement and also call the regional center to inquire.
Make your request as soon as the I-829 is filed, per the terms and conditions in your PPM.
You don't need to file anything with the USCIS. However, you may want to review the terms under the partnership agreement that you signed with the regional center for return of your capital fund prior to reaching the regional center. You may also want to talk to a lawyer who can assist you with this phase of your case like we have assisted many investors to get their capital funds timely.
You should certainly be proactively in touch with the regional center. The terms and conditions that need to be met for a capital refund must have been explained in the offering documents that include the PPM, subscription agreement and supporting documents, such as the limited partnership agreement. The loan agreement between the job-creating enterprise (JCE) and the new commercial enterprise (NCE) must also have outlined the terms under which the NCE lent the funds to the JCE. Recently, USCIS has permitted the funds to be returned to the EB-5 investors at the time of I-829 filing as opposed to the I-829 approval. That said, as long as the regional center is compliant with the terms and conditions of the offering documents, the decision on the timing of the capital return is still under their discretion since they act as the general partner of the NCE. You should certainly seek the counsel of your immigration attorney before you approach the regional center.
You need to speak to the center you have the investment with. They all have different rules for obtaining the money back.
It depends on the agreement you have with the regional center. Most regional centers do not give money back upon approval of your I-829. They may buy back the shares or membership interest you bought or you may be able to sell your shares or membership interest to a third party. Look at the agreement you signed when you invested, consult with your attorney and then make a decision accordingly.
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