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
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I-829 Processing Times Have Run Amok
USCIS is reporting online that the estimated processing time for a Form I-829 Petition by Entrepreneur to Remove Conditions on Permanent Resident Status at Immigrant Investor Program Office is now 37 to 248 months. USCIS is only allowing case inquiries for cases filed before August 6, 2000. This is preposterous, especially considering that USCIS is required, by regulation, to adjudicate I-829 petitions within 90 days pursuant to 8 C.F.R. § 216.6(c). More and more EB-5 investors are turning to federal courts to challenge the delays in their immigration process, including long-pending Forms I-829. Frustrated with ongoing uncertainty about their future, as well as the repeated need to obtain proof of one’s legal status in the U.S., these conditional green card holders simply want a final resolution on their EB-5 case – for peace of mind, for naturalization purposes, and/or to receive their EB-5 investment funds back. WR Immigration has been active in assisting investors stuck in administrative limbo. In one action against USCIS, we were able to obtain approvals and permanent green cards for all 10 immigrant investors and their derivative beneficiaries within 90 days of filing the complaint in federal court. While past performance is no guarantee of future […]
October 2023: 5 New Things to Know About EB-5 Immigrant Investor Visas
By: Joseph “Joey” Barnett There has been a lot of activity in EB-5 in the past month, including updated policy guidance by U.S. Citizenship and Immigration Services (“USCIS”) and visa processing information from the U.S. Department of State (“DOS”). Here are five new things to know about EB-5 in October 2023. 1. Sustainment Period USCIS issued guidance interpreting the EB-5 Reform and Integrity Act of 2022 (the “RIA”) to indicate that, for investors who file the new Form I-526E after the RIA, the sustainment period – the amount of time EB-5 investment capital must remain “at risk” – is only 2 years from the date that “the full amount of qualifying investment is made to the new commercial enterprise and placed at risk under applicable requirements, including being made available to the job creating entity, as appropriate.” This may drastically change the EB-5 market, as USCIS appears to no longer require that the investor sustain their investment throughout the entire conditional residence period, even if the applicable regulations at 8 C.F.R. § 216.6 appear to still require it. For pre-RIA investors, the “sustainment” period remains the first two years of conditional residency. This guidance may be welcomed by some investors […]
