{"id":1572,"date":"2022-05-09T15:38:42","date_gmt":"2022-05-09T15:38:42","guid":{"rendered":"https:\/\/www.h1btransfersusa.com\/blog\/?p=1572"},"modified":"2022-05-09T15:38:44","modified_gmt":"2022-05-09T15:38:44","slug":"all-is-not-well-in-the-eb-5-green-card-land","status":"publish","type":"post","link":"https:\/\/www.h1btransfersusa.com\/blog\/all-is-not-well-in-the-eb-5-green-card-land\/","title":{"rendered":"All is not well in the EB-5 Green Card land"},"content":{"rendered":"\n

EB-5 Green Card land: The U.S. EB-5 regional center program<\/strong> (RC Program) had gained immense popularity, among Indians, in the past 10 years<\/strong>. Be things came to a screeching slow down, first with retrogression and processing delays followed by the COVID-19 pandemic <\/strong>and the steep increase in investment amounts under the Trump government, and finally to a jolting halt in June 2021 <\/strong>when the RC Program<\/strong> lapsed.<\/p>\n\n\n\n

Thankfully, the majority of these are relics of the past for now. Indian nationals<\/strong> are no longer subject to retrogression according to the latest information published by the Department of State (DOS)<\/strong>; the pandemic has subsided, and the increase in investment amounts has been superseded by more moderate increases under the EB-5 Regional Center Reform<\/strong> and Integrity Act of 2022 that also reestablished the RC Program.<\/strong> However, as of now, data published by the USCIS shows that processing time is between 41 to 71 months <\/strong>from the date of filing an I-526, investment-based petition<\/strong>. The USCIS has resumed processing cases that were filed before June 2021, and we should soon see some progress soon.<\/p>\n\n\n\n

However, the road ahead still has pitfalls for new investors.<\/p>\n\n\n\n

Re-Designation | EB-5 Green Card Land<\/h2>\n\n\n\n

Since the passage of the new regulation<\/strong>, the government agencies like the DOS and USCIS <\/strong>were to publish regulations or guidelines to take the RC Program forward in compliance with the new statute. In the last week of April 2022<\/strong>, the USCIS issued a set of new frequently asked questions (FAQs). Where it declared a new policy that gives that Entities looking to be designated as a regional center are required to file Form I-956<\/strong>, Application for Regional Center Designation. The USCIS will publish this new form, including the form instructions. With extra data regarding the filing process by 14th May 2022.<\/strong><\/p>\n\n\n\n

[USCIS Provides Temporary Relief for Certain EAD Renewals<\/span><\/a>]<\/h4>\n\n\n\n

The RC Program was to start working on 15th May 2022<\/strong>, when practitioners expected to file new investment-based petitions.<\/strong> However, because of this new development, new investors will have to wait before they can file their I-526 petitions<\/strong>. For example, their investment-related petitions. New investors will have to wait until after 14th May 2022. Because regional centers should first file a Form I-956 application<\/strong> to get approval. Then submit a project application and get a receipt number for it to be eligible to qualify for the bill for EB-5 investments<\/strong>.<\/p>\n\n\n\n

Be that as it may, It Is Not All Bad<\/h3>\n\n\n\n

Luckily, this re-designation<\/strong> requirement doesn’t influence investors who have filed regional center-related Forms I-526s on or before 30th June 2021.<\/strong> For example before the RC Program sunset, that is to stay, the sunset day of the past regional center program<\/strong>. In other words, the need for regional centers to get re-designated. Does not impact petitions that were pending prior to 15th March 202<\/strong>2. These pending petitions are considered to be \u201cgrandfathered\u201d and will be adjudicated. As per the eligibility requirements <\/strong>at the time they were initially filed.<\/p>\n","protected":false},"excerpt":{"rendered":"

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