EB5 Investors Magazine Volume 7, Issue 1 - Page 89

EB5INVESTORS.COM 87 “ Since USCIS states that the substitution of a regional center in the event of another regional center’s termination also may constitute a material change that requires denial or revocation of the I-526, the affected investor would have to file the new petition. • Changes in the scope of the investment project, such as an investor switching projects entirely, are considered material. In this regard, filing an investment in one regional center but later changing to a different regional center or another project within the same regional center will be a material change. • Changes to the investment project that do not affect its overall eligibility are not considered material. For example, if an investor files an I-526 petition with the intention to establish one type of restaurant but changes to another is not a material change. as it is still the restaurant business. However, if the investment becomes a hotel business it is a material change, even if the hotel may contain a restaurant. regional center associated with a regional center immigrant investor’s form I-526 petition constitutes a material change to the petition,” according to the Policy Manual published June 14, 2017. If the investor changes the regional center with which his or her immigrant petition is associated after filing the form I-526 petition, the change constitutes a material change to the petition. 1 This is the first time USCIS has stated in writing that such a change in regional center sponsorship is considered a “material change.” US CIS h a s fol lo w e d t he fol lo w i ng p at te r n s i n deciding which changes are considered material versus non mater ia l for t he pur poses of v isa petition adjudication: • Changes to the structure of an investment or somet hing t hat may affect t he actual investment of funds are considered material. For example, if t he investment agreement provides the return of funds upon a certain date, but later this agreement is changed to eliminate the return upon an USCIS RFE, this would be a material change. • Cha nges t hat do not depa r t substa nt ia l ly from the original project funding structure documents, but merely clarify inconsistency are not considered material. Since USCIS states that the substitution of a regional center in the event of another regional center’s termination also may constitute a material change that requires denial or revocation of the I-526, the affected investor would have to file the new petition. Unlike the other EB categories based on the I-140 petition, EB-5 does not have a way to preserve the old priority date of the previously approved petition. So,