Signed into law on March 15, 2022, the EB-5 Reform and Integrity Act introduced new requirements for the EB-5 immigrant visa category and the Regional Center Program. These are excellent news for prospective EB-5 investors who were hindered by the suspension of EB-5 regional centers.
In this article, you will discover how to pick an EB-5 regional center.
EB-5 Regional Center Program – The Basics
With the introduction of the EB-5 Reform and Integrity Act, the United States Citizenship and Immigration Services (USCIS) expressly provides that EB-5 “immigrant visas are authorized under the Regional Center Program through September 30, 2027.”
A regional center is a business entity regulated by USCIS that serves as a pool of capital to fund projects. The purpose of these projects is to promote economic growth and job creation in a certain region.
To qualify for EB-5 status through a regional center, foreign investors must invest the required amount of capital to create at least ten full-time jobs for qualified US workers.
One of the advantages of investing in a new commercial enterprise located within a regional center is that the jobs can be created directly or indirectly, which means up to 90% of the job creation requirement may be met with jobs held outside of the new commercial enterprise.
How to Pick an EB5 Regional Center – Foremost Tips
Checking the Regional Center’s Track-Record
USCIS explicitly states that the return on EB-5 investments made in regional centers is not necessarily guaranteed. However, choosing a regional center with a proven record of successful enterprises is an excellent way to boost your chances of eventually getting the amount invested back.
Identifying the Team in Charge of the Project
The level of experience, skills, and business history of the individuals of an EB-5 regional center offers valuable indicators of whether a proposed project can thrive and have a positive impact.
Project Job Creation
If an EB-5 project cannot create the ten full-time jobs to meet USCIS’s job creation requirement, the investor who put the required amount of capital at stake may not be able to remove the condition on the temporary green card.
Hence, it is crucial to choose an EB-5 project that offers a solid forecast of a surplus of jobs created directly or indirectly.
Researching the Project’s Financing Conditions
It is not hard to find EB-5 projects to invest in, as there are hundreds of regional centers seeking capital influx from foreign investors. However, the number of eligible EB-5 investors may not match the number of regional centers.
This gap often affects projects that cannot secure the required number of investors to finance their completion. Before investing the required amount of capital in an EB-5 regional center, it is fundamental to identify whether the project is fully-financed.
Do the Developers of the Project Have Their Funds At Stake?
One of the basic questions every EB-5 investor must ask is “if a developer of a project is not willing to compromise funds in the proposed enterprise, why would I?”
When it comes to EB-5 regional centers, it is good to find projects in which the development team has their personal funds committed to the success of the endeavor.
How to Pick an EB5 Regional Center – Immediately Work with an Expert Immigration Attorney
Waste no time with uncertainty. Contact Immigration Attorney Romy B. Jurado today by calling (305) 921-0976 or emailing [email protected] to find the best EB-5 investment strategy for your case.