EB-5 Updates (Nov 04, 2015)

posted in: Updates | 0

 

 

  • In FY 2011, there were approximately 100 regional centers at the start of the fiscal year and USCIS received about 3,800 I-526 petitions that year. By comparison, at the close of FY 2015, there were more than 740 USCIS-approved regional centers and USCIS received more than 12,000 I-526 petitions.

 

  • Due to the program reauthorization anticipated in FY 2016, which may result in changes to the EB-5, all of the proposed changes including some revisions of EB-5 regulations are currently delayed.

 

  • EB-5 applications are currently reviewed and adjudicated by newly created Immigrant Investor Program Office (IPO) to enhance the EB-5 Program through the development of policy guidance on emerging issues. However, there are still a lot of backlog in adjudicating EB-5 applications (I-526 and I-829). Among other things, the IPO Stakeholder Engagement Branch (a part of IPO) was established in April 2014 to provide more timely responses to stakeholder inquiries, to provide more useful and timely program information on a more frequent basis, and to manage IPO’s stakeholder engagement plan. In addition to responding to congressional inquiries about 125 times per month, the branch also responds to approximately 760 customer inquiries each month.

 

  • Interview?

USCIS plans on implementing a process at the I-829 stage that will lead to interviews of investors at the field office.

  • Purpose: USCIS stated that, like any USCIS interview, the purpose of these interviews will be to provide the officer with information needed to determine whether the petitioner meets eligibility criteria. These interviews will help USCIS better manage the EB-5 program. USCIS IPO will develop interview criteria in conjunction with other USCIS components and agency partners and may also use a statistical sampling methodology to select petitioners for interview.
  • When? Although USCIS may conduct an I-829 interview at any time if it is necessary for that particular adjudication, it anticipates implementing a more comprehensive Form I-829 interview strategy in late FY 2016.

Copyright © Law Office of Kiju Joseph Sung