I am trying to find out the major differences between a hypothetical I-924 and an actual I-924. If I understand correctly, if I want to I can base a hypothetical off a previously completed project. What kind of detail needs to go into the economic study on a hypothetical I-924? What are the specific things that need to be in a hypothetical?
When submitting a hypothetical I-924 regional center petition, a business plan, economist report and job creation study must be filed with the application. Due to its hypothetical nature, the documentation does not need to meet all immigration guidelines, however, the accuracy of the petition will be a factor in its approval.
The main difference is that you do not need a Matter of Ho compliant business plan for a hypothetical project, while you do need one for an actual project. For an actual project I-924, USCIS will grant deference to your business plan, which means you can rely on their approval in future I-526 filings using the same business plan.
You will need a solid business plan and economic analysis report to file for adjudication as a hypothetical.
Using previously developed projects is surely an option, but you will still need to provide a business plan (that is not required to be Matter of Ho compliant) and an economic report (based of the projected EB-5 raise, total raise, expenditures, etc.). We recommend retaining EB-5 counsel to assist you.
An I-924 application for a regional center based upon a hypothetical project requires a business plan that is close to being a comprehensive business plan and economist report showing the likelihood of business activity and indirect employment creation in the geographical location of the regional center.
