USCIS Proposes Changes to I-924 Processing in EB-5 Program Applications

The EB-5 Immigrant Investor program was created in 1990 to help create jobs and international investment in the United States. Interested investors may petition to participate on their own or as part of a Regional Center, designated as such by USCIS. Investors can petition for the EB-5 visa on Form I-526 or for Regional Center designation on Form I-924. The proposal process is, however, quite complex, and involves a series of documents, including business plans supported by expert analyses and other key information. This process can be arduous and, according to many stakeholders and petitioners, is not ideal.

In response to concerns voiced by stakeholders and petitioners, USCIS has submitted a series of proposed changes to the processing of EB-5 immigration cases. These changes will change the ways in which EB-5 program applications are processed.

Applications for Regional Center status are submitted via Form I-924 in one of two ways:

First, an actual application presents a “shovel-ready” business project that is adequately developed to support the immediate filing of I-526 petitions by interested foreign investors. These applications include business plans, economic analyses, information about capital-investment structures, information about the anticipated regional economic impact of such a center, as well as other detailed information.

A second application type, the exemplar application, proposes a feasible project that is not yet shovel-ready, along with an exemplar I-526 petition, to allow USCIS to determine if the project is EB-5 compliant. This application type enables USCIS to approve a new project in principle before the business project is actually underway.

USCIS has published the following proposed changes to EB-5 processing; public comments will be accepted until June 17, 2011.

1 – Enabling accelerated and premium processing for shovel-ready cases: USCIS proposes to prioritize actually I-924 applications so that projects that are ready for implementation can be approved in the timeliest fashion. USCIS will offer accelerated target processing times for actual Regional Center petitions and will additionally allow petitioners to request premium processing of their I-924 applications. Additionally, accelerated target processing times will also apply to subsequent filings of I-526 petitions; these petitioners will also be allowed to request premium processing of their petitions.

2 – Creation of special intake teams for I-924 petitions: USCIS proposes to create special intake teams, who will handle the initial intake and review of all I-924 applications. These teams will be made up of experts in economic development and analysis and in EB-5 program requirements, and will include economists, business analysts and adjudicators.

3 – An enhanced decision process for I-924 petitions: USCIS also proposes to empower an expert I-924 Decision Board to make decisions regarding the EB-5 compliancy of I-924 petitions. This board will include a USCIS economist and two USCIS adjudicators and will be assisted by a legal support team. This board will be able to approve the I-924 petition, request additional information or issue a Notice of Intent to Deny. In the latter case, the applicant will have the opportunity to schedule an in-person or telephone interview to discuss this final decision.

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The U.S Immigration Department has Proposed Significant Updates to EB-5 Visa Processing

U.S. Citizenship and Immigration Services (USCIS) today proposed significant enhancements to the administration of the Immigrant Investor Program, commonly referred to as the EB-5 Program. The Proposal was made public by USCIS and a summary of the proposal was forwarded to Mr. Darren Silver, Principal Attorney of Darren Silver & Associates.

Today, the U.S. Citizenship and Immigration Services made public a proposal to modify the existing protocol on how EB-5 Regional Center applications are processed and reviewed. USCIS is proposing three fundamental changes to the way it processes EB-5 Regional Center filings. This proposal has been reviewed and is summarized below by Mr. Darren Silver, Principal Attorney of Darren Silver & Associates.

First, USCIS proposes to accelerate its processing of applications for job-creating projects that are fully developed and ready to be implemented. USCIS will also give these EB-5 applicants and petitioners the option to request Premium Processing Service, which guarantees processing within 15 calendar daysfor an additional fee.

Second, USCIS proposes the creation of new specialized intake teams with expertise in economic analysis and the EB-5 Program requirements. EB-5 Regional Center applicants will be able to communicate directly with the specialized intake teams via e-mail to streamline the resolution of issues and quickly address questions or needs related to their applications.

Third, USCIS proposes to convene an expert Decision Board to render decisions regarding EB-5 Regional Center applications. The Decision Board will be composed of an economist and adjudicators and will be supported by legal counsel.

This proposal will be online until June 17, 2011, for public comment —providing stakeholders an opportunity to offer feedback on the proposed changes to the administration of the EB-5 Program.

Mr. Darren Silver, a prominent Immigration Lawyer in the field, whose Firm Darren Silver and Associates specializes in EB-5/Regional Center Immigration believes that action is important to prevent the significant delays that are currently plaguing adjudication. Mr. Silver commends USCIS for realizing that even moderate delays in the adjudication process for some of these Regional Center projects can cause serious financial stain to those projects. He believes that action calling for the expeditious processing of Regional Center certification will be well received in the Legal Community.

Mr. Silver can be contacted directly through his website Darren Silver & Associates which is one of the Nations' preeminent Immigration Law Firms with a focus on Investment Immigration law.

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Immigrant Investor Program to Fund Rebuilding of Famous Pabst Brewery and Millhouse

An investment from a foreign national under the EB-5 Immigrant Investor Visa program is reshaping an American staple – the former Pabst brewery in Milwaukee, Wisconsin. Work on a new hotel and Hofbrauhaus restaurant in the brewery’s former location could start this summer. USCIS has just approved the first of 30 Chinese nationals who are each investing $500,000 into the project.

This project, which is being spearheaded by Wisconsin developer Gary Gorman, will utilize $15 million in foreign investments to convert the former brewery and mill house into a six-story, 90-room hotel.

Foreign capital is being raised for the project under USCIS’ EB-5 program, which enables foreign citizens to obtain a residency visa by investing at least $500,000 in a U.S. project that would result in at least 10 full-time positions. The EB-5 visa can then be converted into a green card after two years, enabling the investor and their direct dependents to obtain permanent residency in the U.S.

While the first of the 30 investors was approved after a six-month review period, leading Gorman to believe that USCIS believes in the validity of the project, he also cautions that the full approval process is not set in stone. According to Gorman, the federal approval process moves at its own pace.

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