In this pre-recorded webinar, WR Immigration’s Managing Partner Bernie Wolfsdorf explains the new EB-5 Regional Program alongside Partner Vivian Zhu who provides a Chinese translation.
Webinar: The New EB-5 Regional Program – A Comprehensive Update
Related Posts:
7 Things We Learned from New EB-5 Program Chief Sarah M. Kendall
By: Joseph Barnett Earlier this week, new Immigrant Investor Program Office Chief Sarah Kendall addressed the EB-5 community at the AILA/IIUSA EB-5 Industry Forum in Chicago, Illinois. We are happy to see this type of engagement by USCIS and are hopeful for continued dialogue to address the concerns of immigrant investors and regional centers. Here are seven things we learned from Ms. Kendall: 1. Minor Investors Ms. Kendall confirmed there is no age limit for minors filing as the principal investors but indicated that USCIS will continue to look at issues of contractual capacity and voidability of investment contracts. 2. Bridge Financing Ms. Kendall indicated it was difficult to provide specific guidance on the issue of bridge financing because of the “diversity of work and financial arrangements and structures.” She noted that the term of the loan, by itself, does not disqualify financing as a bridge loan that would receive credit for job creation purposed and that USCIS will look at interim nature of loan and contemplation of future receipt of EB-5 (or other) capital to repay the bridge financing. This is inconsistent with language in RFEs previously issued by USCIS. Additional guidance clarifying this important issue is required to provide certainty for […]
USCIS Releases Guidance on EB-5 Regional Center Lapse
The EB-5 Immigrant Investor Regional Center Program expires at the end of the day on June 30, 2021, due to a lapse in Congressional authorization to continue the program. USCIS has released the following guidance today: Alert: Statutory authorization related to the EB-5 Immigrant Investor Regional Center Program will expire at midnight on June 30, 2021, unless Congress reauthorizes it. A lapse in authorization does not affect EB-5 petitions filed by investors who are not seeking a visa under the Regional Center Program. In the event of a lapse in authorization related to the Regional Center Program, we will reject the following forms received on or after July 1, 2021: Form I-924, Application for Regional Center Designation Under the Immigrant Investor Program, except when the application type indicates that it is an amendment to the regional center’s name, organizational structure, ownership, or administration; and Form I-526, Immigrant Petition by Alien Investor, when it indicates that the petitioner’s investment is associated with an approved regional center. In general, we will not act on any pending petition or application of these form types that is dependent on a lapsed statutory authority until further notice. If you were issued written correspondence regarding your petition or application […]
