A legal settlement has been reached between the EB-5 Regional Centers (“Plaintiff”) and USCIS (“Defendant”) on August 24th, 2022. Back in May of this year, USCIS announced that all regional centers must be reauthorized through the approval of I-956 petition, prior to any new I-526 can be filed. This decision resulted in a huge backlash from the EB-5 industry and long-awaited investors who have spent over a year waiting for the program to be revived. After many court hearings, Honorable Judge Chhabria ruled in June that USCIS was erroneous in its assumption that the new EB-5 Regional Center program under the RIA deauthorized all previously designated regional centers. This settlement is a huge step forward for the EB-5 Regional Center program to finally be back on full force. At this time, it is pending the Court’s final approval.
ARCFE INVESTORS DON’T NEED TO WAIT FOR COURT’S APPROVAL OF THIS SETTLEMENT
ARCFE received the I-956F receipt notices for Group 11-12-13 on Friday August 19th. We are among the very few regional centers who are able to receive these notices early. Our investors can immediately file their I-526E petition today without having to wait for the Court’s final approval of this settlement. Take advantage of this golden window to get ahead in the queue and obtain permanent residency to enjoy the benefits the U.S. has to offer. We are also one of the first regional centers to file form I-956 to amend our regional center designation, and are actively monitoring any updates from USCIS.
GLOSSARY:
Form I-956: Application for Regional Center Designation
Form I-956F: Application for Approval of an Investment in a Commercial Enterprise (project application)
Form I-526E: Immigrant Petition by Regional Center Investor
Form I-924: Application for Regional Center Designation under the Immigrant Investor Program (*NO LONGER USED)
Effective date: the date the Court gives final approval of this settlement (TBA)
SETTLEMENT SUMMARY:
USCIS agrees that previously approved regional centers did not lose their designation and they can continue to operate as before.
However, previously approved regional centers must still submit form I-956 as an amendment by December 29th, 2022 in order to continue sponsoring new projects and investors. Those who have already filed form I-956 do not need to file again, but can interfile any additional relevant documents required through this settlement.
Previously approved regional centers may immediately file project applications (form I-956F) and this form must be filed before any investor files a visa petition form I-526E associated with the project.
If the regional center does not receive the I-956F receipt notice (in which the receipt number is required for form I-526E) within 10 calendar days of the physical delivery of the mailing, USCIS will accept the lockbox notice along with a copy of at least the first 6 pages of the filed form I-956F.
USCIS will make the best effort to provide a copy of the form I-956F lockbox notice via a prepaid return overnight courier envelope.
However, if the regional center does not receive any receipt or notice from USCIS within 10 calendar days of physical delivery of form I-956F, USCIS will accept proof of cashed check or credit card charge, along with regional center name, NCE name, JCE name, and approximate I-956F filing date.
USCIS will provide an electronic copy of the I-956F receipt notice within 16 weeks from the settlement effective date.
If investor filed the old I-526 petition or I-526E petition after the Court’s Preliminary Injunction (June 24th, 2022) but prior to the settlement effective date (TBA) without an I-956F receipt number based on previously approved exemplar (form I-924), they may:
(1) File a new form I-526E with a receipt notice for I-956F if form I-526 was originally filed
(2) Interfile the I-956F receipt notice if form I-526E was originally filed
Initial petition will not be rejected solely due to failure of providing the I-526E or I-956F receipt number. Investors will be able to keep their priority date on previously filed form.
Previously approved regional centers must file form I-956F for previously approved exemplars (form I-924).
Previously approved regional centers must comply with the RIA.
Within 21 days from the effective date, USCIS will update its guidance on the agency website (FAQs section) and in any public forum as to the current requirements as set forth in this settlement.
FIND YOUR AMERICAN DREAM WITH US TODAY! – GROUP 13 IS RECRUITING 25 INVESTORS
New York Office
28-07 Jackson Ave, LIC, NY 11101
+1 (212) 889-5333
info@arcfe.com
