DEVELOPER – REGIONAL CENTER
There are many advantages to receiving EB-5 Regional Center designation from USCIS for your business. Becoming a regional center is an attractive way for a business project to raise low interest debt, and, in some situations, equity. Raising capital via the EB-5 Immigrant Investor Program is quite unique compared to traditional sources of funding and EB-5 is an exciting and ever-evolving industry.
Developers should have a team of professionals throughout the business plan development & I-924 application stages, including:
- Immigration attorney to ensure conformity of business plans and other documents with USCIS policy, review documentation, and prepare & file the petition.
- Bank Escrow Agent to offer protection for investor’s funds pending EB-5 application approval.
- Economist for analysis & projection of indirect & direct job creation; targeted employment area (TEA) establishment; & geographic are determination.
- Business attorney to prepare the offering documents, PPM, subscription agreement, and describe the immigration risks of the investment.
- Business Plan Writer to draft comprehensive business and operational plans; including a timeline, job creation descriptions, and all other aspects of the proposed RC.
To submit your Regional Center designation proposal to USCIS, the applicant must submit Form I-924 along with the $6,230 filing fee (this includes new designation requests and amended designation requests). The initial application processing time is about 12 months.
The developers seeking to form or designate a regional center should develop a comprehensive proposal containing documents required by AFM 22.4(a)(2)(B).
At The Law Office of Zhang, we provide hassle free one-stop source for developers with our strong in-house economic team.
USCIS administers the EB-5 program, created by Congress in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors. Under a pilot program enacted in 1992, and regularly reauthorized since then, investors may also qualify for EB-5 visas by investing through regional centers designated by USCIS based on proposals for promoting economic growth.
The EB-5 Adjudications Policy Memorandum is the guiding document for USCIS administration of the EB-5 program. It builds upon prior policy guidance for adjudicating EB-5 and is applicable to, and binding on, all USCIS employees.
- All EB-5 investors must invest in a new commercial enterprise.
- Create or preserve at least 10 full-time jobs for qualifying U.S. workers within two years (or under certain circumstances, within a reasonable time after the two-year period) of the immigrant investor’s admission to the United States as a Conditional Permanent Resident. Create or preserve either direct or indirect jobs:
– Direct jobs are actual identifiable jobs for qualified employees located within the commercial enterprise into which the EB-5 investor has directly invested his or her capital.
– Indirect jobs are those jobs shown to have been created collaterally or as a result of capital invested in a commercial enterprise affiliated with a regional center by an EB-5 investor. A foreign investor may only use the indirect job calculation if affiliated with a regional center.
- Required minimum investments are:
– General. The minimum qualifying investment in the United States is $1 million.
– Targeted Employment Area (High Unemployment or Rural Area). The minimum qualifying investment either within a high-unemployment area or rural area in the United States is $500,000.
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