Question 1. My father is the primary applicant of my family’s EB-5 visa. We obtained the green card through Regional Center Program. However, due to some circumstances, all of my family, except me, has been outside the States for more than one year. Will this be a problem while filing I-829 to remove the condition for me and my family? Thank you.
Attorney Lei Jiang: There could be a serious problem. The general requirement for I-829 (removal of the condition) is that they are in U.S.
©Lei Jiang Law Firm 2014.
Question1 : Is there difference in term of processing time between direct investment and regional center projects? I am an investor and want to have the fastest I-526 approval time. Can you share what kind of processing times have you seen for each of three cases below? a) Direct investment (creating direct jobs), b) Regional Center project that does not have approved exemplar project, c) Regional Center project that does have an approved exemplar project.
Attorney Lei Jiang: They are pretty much the same. USCIS does not distinguish them.
Question 2: What is a typical return on investment of a regional center project? An EB-5 agent told me that there is a regional center which returns 50% of investment after 2 years. He didn’t disclose its name, so I couldn’t check if it’s true or not. Do you know of such a regional center? Also, someone told me that some applications take less than 6 months to complete. Is it true? Is there an expedited option for EB-5? Thank you.
Attorney Lei Jiang: For your first question, I do not know such regional center that returns 50% of investment after 2 years. If your condition is removed after 2 year and if agreement allows, a regional center certainly can return 50% of your investment. But this should be in the limited partnership agreement and other agreement.
For your next question, right now there is no expedited option of EB-5 petition and USCIS takes more than a year to process these petitions.
Question: Is it possible to form a regional center without the start-up capital? I have a great concept for a project for a regional center and have some possible EB-5 investors lined up, but unfortunately I do not have the amount of capital that is needed to form a regional center. I’ve heard that the start-up costs for an EB-5 Regional Center are between $75,000 – $175,000. So what are my options? Also is there a law firm that would work on contingent fee agreement?
Attorney Lei Jiang: They are fees in addition to attorney fees that are absolutely necessary, such as filing fee, fee for economic report, fee for business writer, etc. You do need that much start-up capital. If your idea is really good, you may be about to convince a bank to loan some money?
©Lei Jiang Law Firm 2014