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Typically, the process begins with a set of questionnaires for you to complete. The first is usually a basic screening, followed by a more in-depth second questionnaire. The purpose of these is to make sure that you and the regional center can work together, and to show that you will ultimately qualify as an accredited investor. This helps the project qualify for exemption from the U.S. securities registration process, which is both costly and burdensome. An accredited investor is a person with a net worth of at least $1 million (either individually or with his or her spouse) at the time of the investment, or a person with income of $200,000 singly or $300,000 jointly in the last two years, and an expectation of the same income in the current year. This step is not only valuable for the regional center, but for you as well, because it helps you make sure that you won't face any obstacles later on that would keep you from investing.
Next, you will sign confidentiality documents, which prevent you from sharing information you learn about the regional center with others, and protect your information, as well. The regional center will also ask you for a copy of your valid passport or visa, in order to verify that you are able to travel. Finally, the regional center will make a formal investment proposal that will describe in detail the EB-5 investment, and will also likely include the investment subscription agreement for you to sign and return. Should you decide to invest, after consulting with your business attorney, you will inform the regional center and provide the required deposit or fees, along with the signed agreement. The timing and amounts of the required fees are set according to the regional center, so you should be sure to find out about these in advance, to be sure to meet the deadlines for fees and payments.
Now that you have agreed to your investment, the regional center will send documentation to your attorney, so that your attorney can complete the I-526 petition. Keep in mind that some regional centers have deadlines for submission of the I-526, so that they can synchronize the application processes of the investors. This is important in regional centers where the limited partnership has made loans with fixed repayment periods, because it allows the regional center to make sure that all the investors in the limited partnership have finished the immigration petition process before the loan is repaid.
Additionally, some regional centers have a specific timeframe for the submission of the I-526 after the transfer of funds into the escrow account. This means you will need to be prepared ahead of time with all of your documentation, so you will be ready when the time comes. After preparing the forms and getting the right documents, your attorney will have you sign the appropriate forms, and will submit your petition materials to the USCIS for processing.
Now comes the hardest part-waiting for the USCIS to process your petition. While at this point the regional center may not be directly involved, the quality and reliability of the regional center and its compliance with legal requirements for job creation, etc., will affect how quickly your petition is processed. If your petition is approved by the USCIS, your funds will be released from escrow and unconditionally invested in the , and you will receive your visa! If, in the unlikely happenstance that your application is not approved, your investment funds will be returned to you.
As you can see, the regional center plays an important role all the way through the EB-5 process. It's my hope that this article has given you a greater sense of what to expect from your regional center, and what will be expected of you. This knowledge gives you the confidence to help the EB-5 application process go as smoothly as possible.