What will happen to my I-526 petition if I withdraw my funds from the regional center after job creation is met? - EB5Investors.com

What will happen to my I-526 petition if I withdraw my funds from the regional center after job creation is met?

I filed my I-526 petition in December of 2018 after i transferred the funds ($500,000.) The regional center informed me that due to Covid-19, there is a problem to secure a senior loan and asking me to select either to pump the funds in the project which is risky due to no senior loan or withdraw the funds. If I ignore them, the regional center said it will treat me as I withdraw. The job creation is already achieved. If i withdraw the funds, will my I-526 petition be approved? Am I still eligible for a conditional green card?

Answers

Lynne Feldman

Lynne Feldman

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Answered on

Will need more facts to answer.

Bernard P Wolfsdorf

Bernard P Wolfsdorf

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The investment has to be sustained through until the I-829 filing and in order to get an I-829 approval you need to show that the investment has not been withdrawn.

Ying Lu

Ying Lu

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Answered on

If you withdraw your investment, most likely, your I-526 will not be approved. Even if it is approved, you cannot get through the I-829. Better to find another project to restart.

Fredrick W Voigtmann

Fredrick W Voigtmann

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To remove the condition on your two-year green card, you must sustain the investment and the project must create the jobs within the conditional/sustainment period. Therefore, to receive the conditional green card in the first place, it follows that you cannot withdraw the funds early, even if the jobs have been created.

Dale Schwartz

Dale Schwartz

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I would advise you not to do this until your permanent green card is issued. You should discuss this with your own immigration lawyer.

Belma Demirovic Chinchoy

Belma Demirovic Chinchoy

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The I-526 could be approved; the adjustment of status might be approved as well (assuming no one asks for proof of sustained investment). But if you withdraw the funds, you will fail at the I-829 stage, at which point you are required to demonstrate that you sustained your investment at the time of I-829 filing.

Sam Silverman

Sam Silverman

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Answered on

You should request prompt repayment of your EB-5 capital investment. Then you will need to withdraw your I-526 petition and then re-file a new I-526 petition with a different project (one that is already under construction and has a funded senior loan that is not impacted by COVID.)

Stephen Berman

Stephen Berman

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Answered on

It will be denied.

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