Excellent news for anyone who has applied or intends to apply for the EB-5 Program (Investor Visa) in the USA. The Behrign Regional Center, California, received a favorable decision in the lawsuit it filed against the US Citizenship and Immigration Service (USCIS). The center had requested an injunction to prevent USCIS from disallowing the operation of previously designated EB-5 Regional Centers.
The court ordered USCIS not to require previously designated regional centers to go through steps to be reauthorized. It also required USCIS to process new I-526 petitions from immigrant investors investing through previously authorized regional centers. The decision is a big win for the EB-5 industry and investors.
What is the EB-5 Program (Investor Visa)
The EB-5 Program, also known as Investor Visa, is one of the fastest and most efficient ways to obtain a Permanent Residence Visa (Green Card) in the USA, with possibilities of obtaining American citizenship.
The Program offers two types of investment: 1 – Direct Investment, where the candidate must create and develop a business in the USA and 2 – Passively, where the candidate simply contributes the value in a Regional Center (an existing project and authorized by the authorities American immigration authorities), and does not need to participate in the management of the business.
The second modality, via Regional Centers, is preferred by investors, since there is no need to participate in the day-to-day management of the business.
What are Regional Centers?
Regional centers are businesses already authorized by the USCIS (United States Citizenship and Immigration Service) and that can receive investments for the purposes of the EB-5 Program. They are for-profit companies that meet the requirements of the Program, contributing to the development of the American economy and generating jobs.
The Regional Centers exist precisely to facilitate the reception of these resources via EB-5 and to promote the economy of less developed places through new jobs. In this context, the continuity of the EB-5 Program depends on the existence of Regional Centers.
This modality is provided for by law and needs to be renewed every 5 years by the US Congress, but it expired in June 2021, leaving only modality 1 (direct investment) as an option.
Finally, in March 2022, the modality via Regional Centers was revalidated, with some changes.
Interested in applying for the EB-5 Visa?
If you are interested in applying for the EB-5 Program through a Regional Center, we strongly recommend hiring a law firm specializing in the Program. AMG International Realty works in partnership with several immigration offices in Florida. To find out more, get in touch right now and chat with me on WhatsApp: +1 305 318 6968 (Heloisa Arazi).