EB-5 Visa Backlog 2024 – Visit Here

Revised timelines for EB-5 investment. The EB-5 Immigrant Investor program has recently undergone modifications, as indicated by the recent announcement by USCIS: the publication of revised guidelines. In light of the EB-5 Reform and Integrity Act of 2022 (RIA), the revised guidance addresses the required duration for the invested capital to remain invested.

It also discusses the applicability of a specific RIA rule that safeguards investors who invested in a regional center that was subsequently discontinued to pre-RIA investors.

Modifications to the Investment Time Frame

The amended guidance explicitly states that investments made after the RIA’s passage are required to be maintained for two years. This is a substantial departure from the previous regulation. The money must be invested in the EB-5 firm until the conclusion of the first two years of conditional residency, as a result of the extended processing timelines for form I-526 applications and backlogs in certain EB-5 categories.

This implied that the USCIS required the investor to maintain the funds in the project for an extended period to qualify. It is evident from the revised guidelines that post-RIA investors are only required to retain their funds for a maximum of two years. The two-year period commences on the day the entire amount of the qualifying investment is transferred to the new commercial enterprise, and it is subject to all relevant regulations, including being made accessible to the company that generates employment opportunities as required. This is according to the guidelines.

Even if the Investor’s I-526 or I-526 East petition remains pending, it may be possible to withdraw the investment after the two years

have elapsed. This would not jeopardize the ongoing EB-5 case. It is crucial to bear in mind that this modification solely impacts immigration requirements.

An EB-5 investor must still consider the conditions of the contract when investing in a regional center, which may be significantly longer than the required two years.

Treatment of Pre-RIA Investors in Regional Centers That Have Been Terminated

The RIA incorporated a clause that enables specific investors associated with closed Regional centers to remain eligible for conditional permanent residency under the EB-5 program. The new guidance explicitly states that the RIA applies to qualifying pre-RIA investors.

The USCIS may still approve the case if a regional center is terminated for merely administrative non-compliance, even if it is determined that the investment and ensuing job creation are not impactful. The guideline underscores the USCIS’s commitment to ensuring that the RIA’s necessary modifications are implemented in a manner that is most beneficial to investors, while simultaneously adhering to the program’s integrity and legal obligations. It provides investors with increased clarity and autonomy as they navigate the EB-5 program in the post-RIA era.

USCIS Processing Guidance | EB-5 Investor Visa Update

To gain a more comprehensive understanding of the changes to the EB5 program that the EB5 Reform and Integrity Act of 2022 has made to the Immigration and Nationality Act (INA), USCIS is providing additional clarification. Particularly, the duration of the required investment and our manner of managing investors associated with a Terminated Regional Center

This article clarifies the investment time frame required for EB5 investors who file Form I-526 immigrant petition by Standalone investor or Form I-526c immigrant petition by Regional Center investor on or after March 15, 2022, as specified in the RIA.

The RIA eliminated the general requirement for classification to invest, the requirement that the investor be actively in the process of investing the necessary amount of capital in a new commercial enterprise, and the requirement that the investor maintain their investment throughout their conditional residence. These requirements were crucial for investors who were seeking to remove circumstances on their permanent resident status under INA 216a via an EB5 immigrant visa petition submitted on or after the enactment of the RIA.

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Benefits of EB-5 Visa Backlog

• Investor Priority Date Retention: Investors maintain their priority date, which establishes their position in the visa queue, despite the congestion. This guarantees that their visa processing will continue by the date of their initial application, provided that their investment remains compliant.
• Time to Modify Investments: The backlog may afford applicants additional time to modify or diversify their investments, particularly if they are participating in a Regional Center initiative. This can mitigate financial risk during the visa approval process.
• Opportunities for Children to Age: Out The Child Status Protection Act (CSPA) may still safeguard the eligibility of a child of an investor who ages out (turns 21) while waiting. Occasionally, the extended waiting period provides minors with the opportunity to maintain their dependent status.
• Planning Time: The extended wait periods resulting from the backlog provide applicants with additional time to organize their relocation to the United States. This encompasses the organization of personal, professional, and financial affairs.
• Source of Funds Flexibility: Investors may have greater flexibility in documenting or gathering their lawful source of funds while they await their visa, particularly if the situation alters after their initial filing.
• Potential for Legislative Changes: Temporary reliefs or legislative reforms may be initiated in response to extended backlogs, which may be advantageous to those who are currently in the waiting period.

Most Recent Initiatives

These RIA modifications have relieved investors who submit classification petitions after the enactment of the RIA from the obligation to maintain their investment for the duration of their conditional residence. The duration of their conditional residents may extend into the future and is contingent upon factors beyond the investors’ control, such as the availability of visas.

The investment is expected to remain in place for a minimum of two years, provided that the prerequisites for job creation are met. All immediate necessary details are in place. However, the Act does not specify the commencement of the two years under INA 203. The commencement date is determined by the date on which the necessary quantity of qualifying investment is made.

USCIS will utilize the date on which the investment was contributed to the new business venture and placed at risk under all pertinent regulations, including being made available to the entity responsible for job creation. In general, the investment should be retained at the time of the correct filing of the I-526 or I-526e petition, provided that it was made more than two years before the filing.

In order to accurately evaluate eligibility prior to the enactment of the RIA. Investors who had not yet obtained conditional permanent resident status would have been considered to have altered their eligibility if a regional center were to be terminated. This would have likely resulted in the denial or revocation of related investor petitions.

Additional Information

The RIA has recently implemented a new provision in INA 203 that enables good faith investors associated with terminated Regional centers to maintain eligibility under specific conditions. Consequently, the statute’s ambiguity regarding its application to both pre-RIA and post-RIA investors,

Furthermore, USCIS is providing guidelines on how pre-RIA investors should comprehend this new rule. The pre-RIA investor deadline for responding to a regional center termination notification will be extended by USCIS upon the regional center’s termination. We may issue a request for substantiation or notice of intent to reject to the investor to demonstrate ongoing eligibility until the agency rules on its Form I-526 petition.

Using procedural flexibility, the United States may extend the 180-day response deadline for notices of ongoing eligibility. We may infer that the fundamental eligibility of a pre-investor will not be adversely affected by the termination of a regional center for simple administrative non-compliance in the majority of cases.

We reserve the right to decline to extend any pertinent response dates, as their investment and the subsequent job creation are unaffected. As a result, the eligibility of its associated investors may be affected in the future if a regional center is closed for significant reasons.

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