With the new rules coming into effect this November, what will happen to regional centers? I have noticed that many regional centers have been cancelled by USCIS recently, and I expect more to be terminated once the new rules officially take effect. What happens to EB-5 investors whose regional centers get terminated by USCIS? Will they be able to continue with their EB-5 applications? Will they be able to keep their priority dates?
Answers
Salvatore Picataggio
Immigration Attorneys DirectoryPriority date retention seems to be the only protection. A new I-526 would still need the be filed.
Marko Issever
EB-5 Broker DealersIt depends. If the EB-5 applicant's I-526 petition is approved before the regional center is terminated, then the new rules will allow the investors to keep their priority dates as long as and there is no fraud or misrepresentation discovered.
Bernard P Wolfsdorf
Immigration Attorneys DirectoryThe final regulations do provide that if the regional center is terminated, certain EB-5 investors can retain their priority dates from earlier-filed and approved EB-5 petitions and their place in line for a green card unless USCIS revokes a petition's approval for fraud or willful misrepresentation by the immigrant investor petitioner. This provision will only provide relief to certain investors who have secured an approved EB-5 petition and are waiting to obtain conditional residence status, but who find themselves in circumstances beyond their control such as the termination of a regional center). These petitioners will no longer lose their priority date, or place in the green card line, when they file a new petition with the increased investment amounts.
Dale Schwartz
Immigration Attorneys DirectoryThey are not terminating regional centers that are active with investors. Those investors already in regional centers with cases pending or approved are grandfathered in.
Lynne Feldman
Immigration Attorneys DirectoryThey would need to file again with another center.
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