How can a regional center administer an ongoing EB-5 project?
Is it possible for a regional center to have a long-term, ongoing EB-5 project? E.g. if the regional center were to successfully create the required amount of jobs, help one group of investors receive I-829 approval, and then continue the project with a new group of EB-5 investors, and so on?
Answers
You can take this approach, but each EB-5 raise has to be net new; you cannot replace one EB-5 investor's money with another. Typically, we see projects that might do a second raise of EB-5 capital to further relieve some of the short-term debt that it is holding or to finance a new stage of an existing project. Any investors that come in after a first round have to be assigned different jobs that have been created, but there can be provision that if there are buffer jobs for first round investors that are not used, these unused jobs can be made available to next-round investors.
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