I am considering putting my investment through a regional center on an USCIS- approved construction project with a construction period of 30 months.
Construction started 18 months ago, so the period has 12 months remaining. If I transfer my investment to the regional center and file my I-526 now, my investment will only technically support the project 12 months before completion. However, the approved construction project will provide more than 10 jobs for 2 years, as required by the EB-5 process.
Will my I-526 and my I-829 be approved based on this investment?
Answers
Salvatore Picataggio
Find an EB-5 Visa Lawyer: Immigration AttorneyIt depends on the offering terms and job allocation structure. Please work with an immigration attorney who can review the project documents.
BoBi Ahn
Find an EB-5 Visa Lawyer: Immigration AttorneyAs long as the project is still open to investors, it does not matter that the construction already started. You should focus on making sure that the project and regional center are properly vetted, and that enough jobs will be created.
Julia Roussinova
Find an EB-5 Visa Lawyer: Immigration AttorneyYes, your forms should be approved. If the project has adequate job creation cushion per each investor and your investment funds are used for job creation, there should be nothing in the way of the approval process.
A Olusanjo Omoniyi
Find an EB-5 Visa Lawyer: Immigration AttorneyFirst, with the time constraints you have, you need to first search for a regional center that can undertake a project that is already in progress. Some RCs will not accept those conditions.
Second, have a due diligence report handy as a marketing tool to make your project more attractive to potential investors.
Assuming your project is accepted, the RC will file the I-526 as well as the I-829 as long as the EB-5 program requirements are satisfied. Advisably, consult an EB-5 attorney to guide you through this process and educate you about your alternatives.
Charles Foster
Find an EB-5 Visa Lawyer: Immigration AttorneyIt may be possible to include your project under a Regional Center if you meet the other qualifications, including the minimum dollar amount of $1million [unless the project is located in a Targeted Economic Area (TEA)] and documentation showing sufficient job transfers. If so, you may be able to have your EB-5 petition on Form I-526 approved. If that is approved and you''re able to maintain the jobs for a requisite period of time, you should be able to have your I-829 petition approved.
Bernard P Wolfsdorf
Find an EB-5 Visa Lawyer: Immigration AttorneyYou do not have to be concerned that construction started 18 months prior. However, there are two other issues to consider. First, is there an adequate cushion for job creation? Second, are your documents drafted correctly? Your documentation should so the connection between the investment and job creation. For example, is your money being used to replace bridge financing? This is permissible.
Michael A Harris, Esq
Find an EB-5 Visa Lawyer: Immigration AttorneyMore information is ultimately needed about the project, specifically regarding how the business plan and other financial instruments say that EB-5 funds will be utilized. It sounds like the project you are considering is going to create jobs based on various factors, which will be modeled or forecasted by the economic impact study.
One of the factors sounds like the project will be relying on construction lasting 24 months or longer. You should speak with a capable immigration specialist regarding the immigration-based risks in filing your petition based on a project that relies on construction jobs.
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