EB5 Investors Magazine Volume 7, Issue 1 - Page 90

EB5 INVESTORS M AGAZINE 88 for those investors who have not yet obtained conditional resident status, for example those waiting for their priority date to become current, USCIS’ decision to terminate a regional center effectively ends their EB-5 immigration process. Consequently, they lose their place in the queue of visa numbers (and also probably have a child “age out” of eligibility). They lose thousands of dollars in fees, as well as the potential loss of the initial $500,000 investment, all because their regional center messed up. A DIFFERENT SITUATION ONCE AN INVESTOR HAVE CONDITIONAL RESIDENCY In contrast, the Policy Manual specifically states that termination of a regional center after an investor have already obtained conditional residency does not affect an I-829, even for claiming indirect job creation. Thus, for the investors who were admitted as conditional residents before their sponsoring regional center was terminated, this is a generous interpretation of the existing regulation. While it is cruel to the investor of a terminated regional center before he was admitted under conditional residency, the scenario highlights the ultimate reason for careful deliberation when choosing a regional center and project. That kind of decision should be based on the actual track record of the center or the details of the actual project. It should not be based on the recommendations of migration agents or brokers who may be motivated by commissions or finder’s fees. SEC and FINRA Regulatory Defense J inhee W ilde is the founding partner of WA Law Group LLC, a Maryland-based immigration law firm focusing on business and investment immigration. Wilde became a lawyer 34 years ago, first as a prosecutor for the city of Chicago and then as a special counsel and attorney advisor for USDA. After leaving the government sector, she began focusing on immigration law, bringing diverse legal experience to help U.S. businesses. Wilde received her bachelor’s degree from the University of Chicago and juris doctor from the Loyola University Chicago School of Law. Sources 1 See 8 CFR 204.6(j), 8 CFR 204.6(m)(7) Andersen, P.C. 1350 Avenue of the Americas, 2 nd Floor New York, NY 10019 914-552-2652