Posted by GCBI Team on March 18, 2020
has published online a question-and-answer document addressing some changes to
the EB-5 program including priority date retention, Targeted Employment Areas,
and removal of conditions on permanent residence. EB-5 expert Suzanne Lazicki
points out that some of this TEA guidance has not been provided up till now.
Who can retain a previously approved priority
EB5 Green Card investors who filed an I-526 petition on or after November 21, 2019, may keep the priority date from a previously approved application, subject to conditions.
Who cannot retain a previously approved
How can an investor
request to retain a previously approved priority date?
a request to USCIS along with a copy of the approval notice (Form I-797) for
the previously approved I-526.
If I filed before
November 21, 2019, can I still invest the $500,000 (TEA) or $900,000 (non-TEA)
amount if my petition is still pending?
you may invest the amount required at the time of filing.
I filed before November
21, 2019, but only invested only a portion of the investment — what happens?
EB5 green card investors must show the commitment of the required amount of EB5 investment capital, but do not have to have invested the full amount if they are actively in the process of doing so.
What TEA rules must I
follow if I filed before November 21, 2019?
You must be eligible according to the TEA requirements at the time of filing for your Green Card by investment.
What data sources will
USCIS accept for high-unemployment TEA’s?
USCIS requires evidence to be both reliable and verifiable. Data from the Census Bureau through the American Community Survey (ACS) and the Department of Labor’s Bureau of Labor Statistics (BLS) both meet those requirements. Whatever source is used, there should be consistency. For example, if ACS data was used for TEA, ACS data should be used for the national unemployment rate.
What evidence is needed
to prove the New Commercial Enterprise (NCE) is principally doing business in a
following could be submitted: location of the NCE, or Job Creating Enterprise
(if applicable), a map with the census tracts being used, the underlying calculations
for the weighted average of unemployment rate, reliable and verifiable data.
What decimal place should
an unemployment rate be round to?
There should be a consistency with both the TEA and the unemployment rate used for comparison.
Is a state certificate of
TEA status from before the Modernization Rule acceptable if the material facts
have stayed the same?
If the principal
applicants family members were not on the initial Form I-829, can they file on
a single Form I-829
can only file on a single application if the principal investor is deceased;
otherwise, each family member must file a separate Form I-829.
Can we add a family
member to a pending Form I-829?
if they pay the biometric fee and are eligible under derivative requirements.
Can the principal applicant add on their I-829 the following: a child who turned 21 or married during the conditional permanent residence, a former spouse who divorced the principal applicant?
Good EB5 news, as the answer is yes.
Read the USCIS release
By GCBI Team
Restructuring your NCE operating documents for redeployment
Investor options with troubled projects
By GCBI Team
Before moving these private placements into the data room, you must complete this
Investor Questionnaire. It asks about your education, business
experience and financial condition.
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