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In Fiscal Year 2016, the USCIS received 14,573 EB-5 I-526 petitions. In Fiscal Year (FY) 2018, the decline in petitions from China-born investors resulted in only 6,424 I-526 filings (and only 1,338 in the last quarter of FY2018). One EB-5 expert predicts that in 2019, I-526s will be decided in less...
Increasing the EB-5 Investment Amount Moved a Step Closer
The government’s Office of Management & Budget (“OMB”) has advanced a regulation to the “review” stage that will likely increase the investment amount. The “review” stage is the last step in the rulemaking process before a final rule is published and becomes effective. Regarding how long the review stage will...
EB-5 Regional Center Program Extended
With the passage of the congressional appropriations bill, the EB-5 Regional Center program has been extended once again, this time to September 30, 2019. Future extensions are anticipated. The law for direct EB-5 investors creating their own business has not been affected by the budget. FAQ: Regarding India EB-5 Q: I am...
New Rulings On Borrowed Funds
Latest on Borrowed Funds Two federal district courts have recently held that the USCIS policies on borrowing funds for EB-5 are illegal. USCIS says if a person borrows funds and uses the cash to invest in an EB-5 project, USCIS’s loan rules must be followed, which require the investor to put...
Update on I-829 Receipts
I-829 Receipts Update The Form I-829 is the petition investors must file for removal of conditions on their permanent resident status. For approval, one must prove: The investment was maintained at risk; and The 10 jobs were created. After the I-829 is filed, USCIS issues a receipt (Form I-797). This receipt extends one’s conditional...