The IKS ESQ LLC Offices, have been actively monitoring the court case between the USCIS and EB Investors and how it may affect out clients petitions. Today, IIUSA had put out a press release which stated that "Multiple EB-5 industry stakeholders have entered into a settlement agreement with the United States Citizenship and Immigration Services (“USCIS”) that protects EB-5 investors and re-authorizes previously approved regional centers, effectively signaling the EB-5 program is fully back in business."
"The settlement affects two cases: Behring Regional Center LLC, et al. v. Mayorkas, et al., No. 3:22-cv-2487-VC (N.D. Cal.) and EB5 Capital, et al. v. DHS, et al., No. 3:22-cv-3948-VC (N.D. Cal.). The plaintiffs include industry organization Invest in the USA (“IIUSA”) and six leading EB-5 regional center operators – EB5 Capital, CanAm Enterprises, Civitas Capital Group, Golden Gate Global, Pine State Regional Center, and Behring Regional Center."
What this means for our clients and the current process for EB5 Regional Center Applications is as follows:
Previously authorized regional centers retain their authorization;
Previously authorized regional centers must file a Form I-956 (or an already filed 956 will meet this requirement) by December 29, 2022, along with the filing fee to maintain authorization;
Previously authorized regional centers need not wait for approval of their Form I-956 to file and receive adjudications from USCIS;
Previously authorized regional centers may immediately file project applications;
If, after filing a form i-956F, a regional center does not receive a formal receipt notice within ten calendar days of delivery to USCIS, an investor may use other forms of proof of the I-956F filing in their I-526E petition, such as a lock box receipt, cashed check or credit card charge provided by the regional center to the investor;
The failure of a previously approved regional center to file a Form I-956 application or amendment will not, standing alone, be a basis for USCIS to deny an investor’s I-526 or I-829 petition;
USCIS will update its website, forms, and instructions to conform to the terms of the settlement agreement.
We at IKS ESQ LLC hope that this news is well received by our clients. This is welcomed news as the recertification the the EB5 Regional cente4rs was the main and fundamental bottleneck. we expect this ruling to kickstart EB5 Petitions and Adjudications.