What Questions Need Answering About the EB-5 Investor Visa?

The increasingly popular EB-5 visa can provide permanent residence in the USA for the applicant, their spouse and their unmarried children under 21. The favored EB-5 visa option is the Regional Center Pilot Program which requires a minimum investment of $500,000 through a Center approved by the US Government.

In this article we answer some more of the questions frequently asked by those who are considering relocating to the USA in the next year. (The visa is what is termed a pilot program and is due to end in 2012).

Why is processing time with the USCIS taking so long?

Processing time from the moment the investment is made depends on four key stages, of which two are dependent on USCIS (United States Citizenship and Immigration Service).
1. The track record of the Attorney selected, their track record can vary considerably.
2. The regional center program that is selected. Some programs have a greater risk of being served a Request for Further Evidence (RFE) which can add considerably to the processing time, whereas others have fewer issues for USCIS to question.

3. The processing time once the application reaches USCIS. This is currently in the region of 6 months (December 2010) but has been as low as 2 months. Staff availability and training at the USCIS service center processing applications are factors in the current longer processing time.

4. The other important factor affecting processing time is where you are residing once the I-526 is approved. For those already in the USA, (probably on a non permanent residency visa) the applicant usually files for a change of status however, if you are residing overseas and therefore require to undergo an interview at the US Embassy in your country processing times can vary.

Why are there so many approved Regional Centers but so few projects?

Over the past couple of years a significant number of organizations have applied to USCIS to be able to offer programs that will qualify for the EB-5 visa. A number of these applications are a result of the downturn in US economic growth and the recession which has made it more difficult to raise capital from banks etc. Simply because USCIS have approved the Regional center does not mean the center actually has operational projects, indeed approval is often the start of the process.

One note of caution, it is necessary to be very wary choosing a center, particularly if many of their applicants come through Agents in non English speaking countries such as China.

Should one look at the management team of the Regional Center?

Although it is always advisable to look in the greatest possible detail into an organization that you are both considering investing $500,000 into, as well as trusting your family's emigration plans to, there is a limit in the usefulness of such information.

Some of the Regional Center Programs have a Management Team who would seem blue chip based on their previous areas of work, but in relation to the requirements of the EB-5 have very little if any experience. Simply because a Regional Center has a well known Politician or Entrepreneur or Attorney or Businessman on its management team is not in itself evidence that their regional center will be trouble free in relation to being a safe investment, obtaining and maintaining your visa and returning your $500,000.

Are all Regional Centers government approved and therefore safe?

Yes and No!
All Regional centers have to be approved before offering programs that qualify for the EB-5 program. However, this is only the start and in itself is no guarantee that you will obtain and maintain your visa or indeed see the return of your $500,000 investment; which the US Government requires to be at risk.
Track record can be an important consideration in particular the number of successes and refusals at I-526 and I-829 stage and whether all the $500,000 has been returned from earlier investors.
Some programs claim they are safer as they are theoretically supervised by State Government however The State is not going to return your $500,000 if something does go wrong or a project fails.

Does some RC get preferred approval time?

No. Although some claim they do this is not correct. This point has been checked with USCIS who have verified that no EB-5 Regional Center has preferred approval time.
Some are quicker than others but there are specific reasons for this.

If I want my children ready for the school years when should I apply?

As approval is currently taking at least eight months and up to a year you may need to hurry bearing in mind the program is currently due to end during 2012

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