In order for the foreign investor to secure U.S. Lawful Permanent Residency (“green card” status), three steps must be successfully completed.
First: USCIS Form I-526, Immigrant Petition by Alien Entrepreneur, must be prepared and filed on behalf of the foreign investor.
Second: After the I-526 Petition is approved, the foreign investor secures U.S. conditional residency by either:
- obtaining the EB-5 immigrant visa during a scheduled interview at a U.S. Consulate abroad, and subsequently traveling to the U.S. within 180 days; or
- if the foreign investor is inside the U.S., the preparation and filing of USCIS Form I-485 to adjust status for the benefit of the foreign investor.
Many EB-5 Regional Centers not only develop their own projects, but also “adopt” projects proposed and operated by third-parties. As a result, Regional Centers often require comprehensive legal services to address issues involving immigration, securities, real estate and general corporate law. Our law firm timely delivers qualified advice and representation to Regional Centers addressing the full scope of issues that may arise.
As a practical matter, a Regional Center must be able to determine – quickly and early on – whether a prospective investor is eligible under the EB-5 visa program. Our law firm conducts the vital due diligence to vet prospective investors. A detailed analysis of the prospective investor’s source of funds at the outset is invaluable. A clear path for the eventual investment of those funds must also be planned.
We also dissect and evaluate potential projects for “adoption” by a Regional Center. Once adopted, we represent the Regional Center’s interests in connection with the adopted venture.
The EB-5 investor visa program is so much more than just an immigration process. As attorneys, we advise Regional Centers concerning their relationships with marketing agents, investors, financial institutions, developers, and other integral third-parties.
Common issues arising with marketing agents are how to deal with “finder’s fees” and securities law compliance. For investors and financial institutions, we frequently analyze eligibility, sourcing of funds, and escrow arrangements.
Importantly, for the Regional Center, we develop, implement and maintain the systems needed to vet and track prospective and actual investors, and monitor and document job creation. We also consult and resolve material changes to projects and development delays.
Finally, we professionally prepare, file and shepherd through approval – prevailing over any Requests for Evidence or other USCIS correspondence – the necessary petitions and applications to secure U.S. lawful permanent residency for all investors and immediate family members.
Foreign nationals seeking to invest in an EB-5 regional center or project must first understand how they are, or how they may become, eligible for the EB-5 investor visa process.
We explain the criteria and steps involved to secure U.S. lawful permanent residency through the EB-5 investor visa process and answer the investor’s questions that arise along the way. Document procurement and analysis is also a valuable service we provide, to establish an investor’s eligibility. In particular, proving the lawful source(s) of the foreign national’s funds is mandatory to any successful EB-5 process and our law firm meticulously analyzes and chronicles this information.
We also provide prospective investors with information concerning the non-investment aspects of a regional center or other EB-5 venture – such as its general operations and, if any, its immigration petition/application performance history.
On behalf of an investor whom we determine reasonably eligible for the EB-5 visa process, we professionally prepare and file:
- I-526 Immigrant Petition by Foreign Entrepreneur;
- I-485 Adjustment of Status Application (if necessary);
- I-829 Petition by Entrepreneur to Remove Conditions;
- all National Visa Center and/or U.S. Consular Applications (if necessary); and
- all supporting documentation.
Frequently, investors seek similar U.S. immigration benefits (“green card” status) for their spouse and children. Our law firm also provides the necessary case analysis and application preparation and processing to facilitate the efficient immigration of these family members as well.
From the outset, a developer must know whether the contemplated business venture may pass muster before USCIS. Our law firm conducts the necessary review and analysis of all the significant issues early on – to advise the developer how it should move forward to qualify for EB-5 investment. Also, it is important to continue to assess a project as it progresses to be certain the venture remains on course to produce the results initially envisioned. In particular, we will assess and give guidance regarding:
- statutory, regulatory and case law affecting the EB-5 project;
- primary and supporting documentation relating to EB-5 legal compliance;
- a project’s geographic scope and any Targeted Employment Area (TEA);
- economic impact and job creation assessment methodologies and conclusions;
- comprehensive business plan with financial and job creation projections;
- securities and due diligence issues affecting prospective investors; and
- domestic securities and corporate law issues and documentation.
Our law firm will also professionally prepare and file:
- I-924 Applications for Regional Center designation;
- I-924A Supplements to Application for Regional Center designation;
- I-526 Exemplar Project Petitions; and
- I-526 Immigrant Petition by Foreign Entrepreneur.
Customarily, our law firm may also file (on behalf of the investor):
- any I-485 Application to Adjust Status;
- any National Visa Center and U.S. Consular applications and other documentation; and
- any I-829 Petition by Entrepreneur to Remove Conditions.
Ultimately, our law firm will serve as the “conductor” for all necessary “instruments” – including immigration and securities attorneys, economists and economic impact analysis team, the regional center principals, and the investors themselves – to deliver a harmonious and successful performance.
Attorneys unfamiliar with the EB-5 investor visa process may seek to engage our law firm to provide services ranging from general counsel to full representation at various or all stages of the processes involved.
Our services to attorneys vary depending upon the relationship sought by the attorney, regional center (if applicable), project principals and/or investor(s). We invite attorneys to seek our services. Together we can design a relationship that best suits all parties and is acceptable under the appropriate code of legal ethics governing attorney/client engagements.