What Are The New Rules Regarding Filing Requirements In The EB-5 Policy Manual?


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Let us begin with a little introduction about what the policy manual should contain. In the past, immigration had various adjudication memorandums, adjudication policies, or notes. Therefore, what they are doing here is consolidating everything they have previously issued including clarifications in one’s source. This policy manual would be controlling, and supersede anything that they have issued in the previous guidances, memos, or rules, and this would be controlling from here on in until they changed one of these rules, which is very probable. The new rules related primarily in ways that are not too much different from what they had been prior, but they are all in one place. With filing requirements, this means certain forms to qualify for EB-5. There are two main forms.

The first is the I-526 form, and that is the form that an investor, and his or her attorney files for to initially qualify for what is called EB-5.That is the form where you show you have made the investment, paid the money, and documented the source(s) from where the money came from in order to qualify for EB-5. In cases where the person is filing the I-526 on an investment project, when it is the first time immigration has seen that investment project, they must include a statement from the regional center confirming the investor’s awareness that the investment project is presented to immigration. Therefore, this is for first time filing in a particular regional center project.

Most of the cases are filed after someone files the first case, because in many of these projects, there could be as many as fifty investors or more. Maybe well over three hundred investors, but most regional center projects have many investors. The investors who file a form are I-526 on an investment project that has been previously approved by immigration, in other words, the regional center tells the investors that this project has been previously approved, they need to let immigration know on the filing that this is a previously approved case. These cases all go to the same adjudicator. One adjudicator per investment, so it goes to that adjudicator, and they know this is the one that has been approved.

What that generally means is that the adjudicator only has to look at source of funds, because the investment has been approved. Therefore,if it should happen to go through a different adjudicator, then they would know that they do not have to start from scratch, and adjudicate the investment itself. The final point is that there is a second form, and that form is I-829. The second form is one that is filed after one has a conditional green card, and has waited two years. So in further explanation, the timing is as follows. To file the I-526, the average time for adjudication on the I-526 currently is about a year and a half and once that is approved, you get to apply for a conditional green card if you are in the US, you apply to immigration.

Legally In Status

If you are outside the US, you apply to US counsel in the country that you are residing that processes green cards. That maybe takes another six months to a year, and then from the time you are approved for your green card, and enter the US, then your two years will start. When you are in the lastthree months of those two years, you have to apply for a permanent green card. At that time, you file the I-829. When you file the 829, you must include the comprehensive business plan, and economic analysis that you first submitted when you applied for the I-526.

What Is The Policy Manual Update Regarding Return On Investment And Redemption Agreement?

Relating to returns, when somebody makes an investment, they can get a return on the capital that they have invested in.Most of these investments up until now are $500,000 investments in high employment areas. Investors also pay an administrative fee for the regional center generally in the neighborhood of $40,000 to $60,000. Say on average $50,000, so there are two payments, one for $500,000, and one for about $50,000. The $500,000 was the actual invested amount. There are two types of projects. There is a loan project, and an equity project. Most projects are loan projects, meaning that the investor is paid a certain percentage in a loan fund.

It could be half a percent a year, it could be one percent a year, generally no more. Therefore, it is a very little amount that some pay quarterly, or yearly, and that interest payment is a return on investment. There cannot be any demand to return some portion of that $500,000, even after obtaining conditional permanent residence. You cannot get your money back until you have your permanent green card. The conditional permanent residence is good for two years, and at the end of the two years, you apply, or the investor applies to get a permanent green card. Once the permanent green card is approved, then they can get their money back.If it is a loan, there is a certain term on the loan, about six years for example.If six years has already passed before they get the permanent green card, they have to wait until they get their permanent green card to be paid.

For more information on New EB-5 Policy Manual Rules, a free initial consultation is your next best step. Get the information and legal answers you are seeking by calling (310) 477-3000 today.

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