Posts Tagged ‘Regional Center’
EB-5 Regional Center Processing Update
The USCIS recently held a stakeholder meeting pertaining to the EB-5 regional center program. The EB-5 category allows for individuals to invest in the U.S., either actively by operating an investment enterprise, or passively as part of a group of individuals investing in an EB-5 regional center. Please see our other EB-5 blog posts for detailed information about the requirements. In light of its recent stakeholder meeting, the USCIS had the following updates to provide:
1. There are currently 114 approved regional centers
2. There are 83 regional center proposals pending
3. In FY2010, the USCIS received 1727 investor petitions, 90% of which were for regional center investments
4. The current published processing time for regional center proposals is 5 months
5. The California Service Center, the location where EB-5 regional center proposals are reviewed, will soon substantially increase its EB-5 staffing
6. The new Form I-924, Application for Regional Center, and fee of $6230 will go into effect November 23, 2010 (currently there is no form or fee)
7. There will be a Form I-924 Supplement A that can be used for the yearly reporting requirements for regional centers
8. There is no premium processing for EB-5 regional centers at the present time
Please contact our San Francisco Immigration Law Office if you need assistance with an EB-5 regional center.
Tags: EB-5, Form I-924, Immigrant Investor Program, Regional Center, USCIS
Posted in Alerts, Immigrant Visas, USCIS | Read More »
USCIS Filing Fees Increase November 23, 2010
The USCIS will increase the filing fees on almost all immigration applications and petitions (except naturalization) beginning November 23, 2010. The final rule containing the USCIS’ new fee schedule was published in the Federal Register last Friday, September 24, 2010, and will go into effect Tuesday, November 23, 2010. Any applications or petitions filed on or after November 23, 2010 must include the new fees.
The following is a list of some of the fee changes:
1. Fees will be increased by a weighted average of 10 percent
2. There is a new fee for Regional Center Designation under the Immigrant Investor Pilot Program
3. There is a new fee to obtain Civil Surgeon Designation
4. There is a new fee for the Department of Homeland Security’s processing of immigrant visa requests
Please contact our San Francisco immigration law office if you have any questions about the new USCIS fee schedule.
Tags: Department of Homeland Security, Regional Center, USCIS filing fees
Posted in Alerts, Immigrant Visas, Nonimmigrant Visas, USCIS | Read More »
ALERT: Regional Center Proposals Will No Longer Be Free!
Starting November 23, 2010, any regional center proposals filed with the USCIS must be presented on Form I-924, Application for Regional Center under the Immigrant Investor Pilot Program, and include a filing fee of $6230. There is currently no form or fee to submit regional center proposals, thus this is a significant change (and a costly one). Until November 23, 2010, the USCIS will continue to accept proposals for regional center designation with no form or fee. Please contact our San Francisco law office if you need assistance filing an EB-5 regional center proposal.
Tags: EB-5, I-924, Regional Center, USCIS
Posted in Alerts, USCIS | Read More »
USCIS Proposes Form for EB-5 Regional Center Applications
There is a new proposed form for submitting EB-5 regional center (RC) proposals. A regional center is defined as an economic unit, public or private, involved in the promotion of economic growth, improved regional productivity, job creation, and increased domestic capital investment. Regional centers aggregate investments from foreign nationals seeking a green card in exchange for investing in the U.S. economy.
Currently, there is no specific form used for RC applications. The USCIS has proposed the new form, Form I-924, Application for Regional Center Under the Immigrant Investor Pilot Program, in hopes to clarify the filing requirements for RC designation and alleviate inconsistencies in RC applications. The new proposals will be sent to the California Service Center in Laguna Niguel, California.
The proposed filing fee for the Form I-924 is $6245 and a supplement (Supplement A) will be required to be submitted each year. This supplement provides the USCIS updates about the RC and addresses reporting requirements. RC re-designation will be required every five (5) years. Please note that any amendments that need to be made (for example, if there are changes to the investments being made) will also be submitted via Form I-924.
Please let us know if you have any questions about this new form. We will be posting again when there are updates to provide.
Tags: EB-5, Form I-924, investor, Regional Center, Supplement A
Posted in Immigrant Visas, USCIS | Read More »
Do I qualify for the EB-5 category?
The EB-5 category is used by foreign investors who desire to live in the U.S. permanently (in “green card” status). In general, the applicant must invest a minimum $1 million into a new commercial enterprise that will or does employ 10 full-time U.S. citizens or green card holders. The applicant must engage in the new enterprise through day-to-day management or policy formation.
There are two alternatives to the $1 million requirement. The first is if the applicant is investing in a targeted rural area plagued by unemployment. In that case, the investment must be a minimum of $500,000. The second alternative is to invest in an already-established Regional Center for a minimum of $500,000.
The EB-5 category has grown increasingly popular over the recent years perhaps due to the struggling U.S. economy and the ensuing opportunities for investment. The USCIS recently held a stakeholders meeting to discuss the EB-5 category and reported that 955 applications out of 1100 have been approved in FY2010 (i.e. since October 1, 2009 to the present). Some applications remaining pending and only a small percentage have been denied. This means that the USCIS is seeing value in these investments and this category.
If you or someone you know would like to discuss the possibility of obtaining EB-5 status, please don’t hesitate to contact our immigration law firm.
Tags: $1 million, EB-5, green card, investment, investor, Regional Center
Posted in FAQ - EB-5, Immigrant Visas | Read More »
