【ARCFE News】 LAWSUIT AGAINST USCIS: EB-5 REGIONAL CENTER INVESTOR CAN START FILING I-526 STARTING MO
- Jun 25, 2022
- 2 min read
On Friday, June 24, 2022, Judge Vince Chhabria issued an Order Granting Plaintiff’s (Behring) Motion for a Preliminary Injunction which immediately opened the door of the Regional Center program. EB-5 Regional Center investors can begin to file their I-526 petitions on Monday, June 27, 2022.
Judge Chhabria ruled that USCIS was erroneous in its assumption that the new EB-5 Regional Center program under the EB-5 Reform and Integrity Act of 2022 (“RIA”) deauthorized all previously designated Regional Centers. While this ruling does not mean that USCIS cannot require reauthorization of existing Regional Centers in the future, the immigration agency, for now, must continue to treat all existing Regional Centers as “…members of the newly revamped club.”
Under the RIA, EB-5 Regional Center must submit to USCIS an application for a particular investment offering before subscribing new investors. However, the approval of this application is not a prerequisite for investors to file their I-526 petition.
Read the excerpt below:
Since the Regional Center program’s reauthorization in March of this year, ARCFE has successfully recruited investors for GROUP 11 and GROUP 12. Recognizing the high demand, we are thrilled to introduce GROUP 13, consisting of 2 real estate development projects. This is the golden window for investors to invest and file their I-526 petitions. Even though the status for countries that are prone to backlog like India or Vietnam are showing “CURRENT” in the visa bulletin, we expect a sharp increase in demand from these countries.
CURRENTLY RECRUITING: ARCFE GROUP 13
ARCFE GROUP 13 consists of 2 real estate development projects in the prime locations of Long Island City, New York: 38th Ave & Thomson. Both projects qualify for TEA under the new regulations. Under the RIA, investors can choose to do Concurrent Filing, which gives immediate freedom to live, work and study in the United States. ARCFE is currently raising $20M from 25 EB-5 investors.
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