Our investors in the pipeline are asking why they cannot file their I-526 petition?
Our investors in the pipeline are asking why they cannot file their I-526 petition even though on March 15, 2022, the United States Congress enacted the EB-5 Reform and Integrity Act of 2022. The 60-day grace period has passed, and they still need to wait. Why?
Answers
USCIS has interpreted the new Act to require all Regional Centers to be recertified regardless of their track record. Most Regional Centers that have been in business for the last 10+ years have a stellar record and no known wrongdoing. Despite this, USCIS is demanding recertification. A few Regional Centers have filed the required documentation and are awaiting USCIS’s response. Others decided to wait for the result of two outstanding lawsuits against USCIS, contesting their interpretation of the new Act requirements concerning Regional Centers that have existed before its enactment. The first lawsuit is demanding a stay. If granted, we expect at least temporarily existing Regional Centers with ready-to-file projects to start accepting investor petitions once they file their project details with USCIS. The second lawsuit is asking for a broader scope injunction. If they win, the existing Regional Centers will not need immediate recertification.
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