“The announcement by USCIS that hundreds of regional centers are now defunct and everyone has to apply again was an earth-shaking event for immigrant investors and regional centers,” said Sam Silverman, managing partner of EB5 Affiliate Network (EB5AN), a leading EB-5 investment fund manager, regional center operator, and consultancy. “We’ve been waiting for details about the application requirement, process, and cost.”
USCIS surprised many with its interpretation of the EB-5 Reform and Integrity Act of 2022, which it claims repealed the old regional center program and requires companies to apply again for regional center designation. Despite a bipartisan letter from Congressional leaders clarifying the legislative branch’s intent and a barrage of lawsuits, USCIS is moving ahead with its previously announced policy.
“Many EB-5 industry participants hoped for a different outcome, but we must respect the decision of USCIS and adapt to this new reality. There is an opportunity here to begin anew, but companies wanting to become regional centers will need expert guidance to navigate this complex regulatory environment,” added Silverman.
EB5AN will host a webinar on Monday, May 16, 2022, at 12:00 PM EDT to discuss the impacts of recent USCIS policy announcements and discuss strategies for I-956 approval. The webinar will be hosted by Silverman and Mike Schoenfeld, managing partner of EB5AN, and top immigration attorney Ronald Klasko. The panel of EB-5 experts will
Click here to register to attend or watch a recording of the webinar later.
Click here to read our article summarizing the new requirements for EB-5 regional center designation set forth under USCIS Form I-956.
To enquire about applying for a new EB-5 regional center designation with USCIS Form I-956, send a message by e-mail to firstname.lastname@example.org.
Created in 1990, the EB-5 Immigrant Investor Visa has long been a gateway to the United States for foreign nationals living abroad, as well as by those already working or studying in the U.S. on nonimmigrant visas including H-1B, L-1B, and F-1. Thousands of families from all over the world have successfully immigrated by making a job-creating investment in a U.S.-based business enterprise. The EB-5 program has facilitated billions of dollars of foreign direct investment into the United States and created tens of thousands of jobs over the last three decades.
EB5 Affiliate Network is an internationally known EB-5 investment fund manager, regional center operator, and consultancy that has facilitated more than $1 billion of investment under the EB-5 Immigrant Investor Visa program. EB5AN works with firms in multiple industries to create high-quality direct and regional center-sponsored investment offerings throughout the United States. EB5AN’s investment funds serve immigrant investors from more than 60 countries with a portfolio of low-risk investments in world-class business ventures. EB5AN previously created 150+ regional centers with a 100% USCIS approval rate.
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