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【ARCFE News】USCIS PROVIDED THEIR INTERPRETATION OF “2 YEARS INVESTMENT PERIOD”

On October 11, 2023, USCIS updated additional guidance for EB-5 required investment timeframe based on the terms on the EB-5 Reform and Integrity Act of 2022 (EB-5 RIA). This guidance clarifies the required investment timeframe for EB-5 investors who file Form I-526 (Immigrant Petition by Standalone Investor) or Form I-526E (Immigrant Petition by Regional Center Investor) on or after March 15, 2022, as outlined in the EB-5 RIA.

Source: https://www.uscis.gov/newsroom/alerts/uscis-provides-additional-guidance-for-eb-5-required-investment-timeframe-and-investors-associated

Background

Before the EB-5 RIA was passed in March last year, USCIS also had a minimum period of 2 years investment. However, the interpretation of this “2 years” period is different compared to their new interpretation. The old EB-5 law required that investors must sustain their investment throughout their conditional residence, meaning up until their 2 years Conditional Green Card has expired. Even if their I-829 (Petition by Investor to Remove Conditions on Permanent Resident Status) is not yet approved, investors can still become eligible for repayment. According to USCIS’ interpretation, the EB-5 RIA removed the requirement that the investor must sustain their investment throughout their conditional residence, and that the investment must be remained invested for at least two years only.

Summary

「1」 Investors filing under the EB-5 RIA are subject to the new 2-year maintenance period, while investors filed under the old law (pre-RIA) are subject to the old regulation and must sustain their investment until the Conditional Green Card has expired.

「2」 The clock starts when the full amount of the EB-5 required investment ($800,000 USD for TEA-qualified projects or $1,050,000 USD for non-TEA qualified projects) is transferred to the Job Creating Entities (JCE).

「3」 If the investment fund has remained in the JCE for 2 years but the I-526E petition has not been filed, the investment cannot be repaid until the I-526E has been filed.

「4」 The investor can still be eligible for repayment prior to USCIS adjudicates their I-526E petition, as long as all conditions are met.

「5」 If the investment is sustained for 2 years but less than 10 jobs have been created, the investment cannot be repaid until the minimum job creation requirement is met.

「6」 The actual repayment timeline is determined in each project’s offering documents and may differ. Investors must follow the timeline and terms stated in the offering documents that are accepted and signed by the investors prior to their investment. The agreement is binding and do not automatically change due to immigration policy changes. With this being said, specific investment terms can be modified only if both the investor and the fund manager agree to make the changes.

ARCFE Responds Proactively: Adjustment to Group 15 Dutch Kills Project

ARCFE’s priority is investors’ success in achieving their American Dream. Our team works diligently to explore opportunities to provide investors with the best projects and solutions to ensure that we meet investors’ needs and be able to put their interests above anything else. After careful review of USCIS’ new guidance, ARCFE management team has decided to make the following adjustment for Group 15 Dutch Kills project:

「1」 No redeployment needed.

「2」 Investors can opt to get their repayment back in 3.5 years when the project repays the loan.

At ARCFE, we have a very good repayment record. Thanks to our team’s excellent risk management experience and diversified resource channels in the real estate and financial industries, we have successfully repaid all EB-5 funds to all eligible investors.

Group 15 Dutch Kills Qualified for TEA Recruiting Now!

New York Office

28-07 Jackson Ave, LIC, NY 11101

212-889-5333

info@arcfe.com

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