What Is An EB-5 Regional Center?
EB 5 visa regional center is a public and private economic unit having developmental projects for foreign investors that stimulate the American economy through
- Economic development,
- Improving regional productivity,
- Creating jobs,
- Providing goods and services to fill the gap
In exchange for meeting the eligibility criteria, the applicants and their dependents will be issued American citizenship with an unconditional green card. To know whether you qualify for the eligibility criteria or not, get in touch with the EB-5 visa experts today.
Difference Between Direct And EB5 Regional Center Investments?
To get your American citizenship, you will need to invest the minimum capital in the American economy and follow the process after the application approval. This can be done through direct investments or a certified EB-5 regional center investment. Keep reading further to know the difference between them-
- Through new commercial enterprise (NCE), the investments should be made directly with no intermediatory division. In contrast, through EB5 regional center project, an investment fund is proposed in which the applicant can invest through the equity stake in the project.
- In NCE, ten full-time job opportunities should be created through direct employment. In contrast, indirect employment is accepted through regional center investments.
- The investments for both are the same, that is, US $1.8 million, which is reduced to $900,000 within a target employment area. Since many EB 5 regional center projects are located in a TEA, that leads to a reduction in investment capital by the EB 5 investors.
- Direct investment requires you to have an active role in the business, whereas the regional center investment requires a passive role.
- With direct investments, you will need to be present in the selected project location, whereas with regional center investments, you can move anywhere in the USA without restrictions.
Why Should You Choose An EB-5 Regional Center?
Unlike direct investments, regional centers provide certain benefits like-
- Decreased investments in TEA
- Your passive involvement while the EB5 visa regional center experts handle the project
- Relaxation in job requirements with indirect and direct employment production
- Regional centers have lawyers that represent you before the USCIS and make sure that everyone is complying with the necessary law. Thus, increasing your chance at citizenship
How To Choose The Best Regional Center For EB 5?
With so many options present before an investor, selecting the best regional center for EB 5 can be daunting. But with certain checkpoints, you can choose your EB 5 visa center correctly-
- Check the previous track record of the regional centers to know how the projects have performed, how many applications were processed, the number of investors who received their green cards, how many have gotten their investment money back, and more.
- A majority of projects are associated with real estate. Verify how much developers invest in the project, who the construction leaders are, and who is the project’s contractor?
- Look out for the team members and manager of the project. Ask questions about their prior experience and project, their vision, and their knowledge about the project.
Does all of these seem too much of a hassle to go through? Do not worry about it. The EB 5 visa attorney will help you select the best regional center for investments based on EB 5 regional center ranking, project, and prior experience.
How To Apply For The EB5 Regional Center Program?
The regional center operators need to apply to USCIS by submitting form I-924 with the required documentation. Since multiple projects are running simultaneously, there is vast scope for job creation and meeting the pre-requisites that attract numerous EB-5 regional center investors. Overseas immigration attorneys often help the applicant in locating these projects for investments.
The essential EB5 visa costs US $1.8 Million or $900,000 in a TEA through the direct investments or EB-5 regional center. Adding to that, you will need to pay an additional fee for the procedure, including the I-526 petition fee, lawyer’s fee, relocation charges, taxes, biometric identity confirmation fee, I-485 application fee, and more.
*TEA includes –
- Areas with a high unemployment rate, 1.5X of the national average
- Rural areas
The supporting documents with the I-924 application form include all the verifiable documents, including but not limited to-
- A comprehensive, Matter of Ho–compliant business plan,
- Relevant operating and/or partnership agreements,
- An economic report that represents the expected job creation opportunity through the project
- A private placement memorandum (PPM), and
- Taxes and other legal documents that verify the source of funds and how it is acquired, etc.
Preparing all the documents and filing the application can take from several weeks to few months. Once the application has been submitted to USCIS, it can take up to one year to approve these applications. The documents explaining the project status should be added, including the hypothetical, exemplar, and actual project, with supporting documents.
Contribution Of EB 5 Visa Regional Center In US Economy
The regional center has a significant role in improving the US economy and providing more employment opportunities to US citizens. The regional center has touched various sectors like education, healthcare, tourism, real estate, restaurants, senior living facilities, wholesale trade, architectural opportunity, etc. With so many projects and a high success rate, regional centers are a popular option for EB-5 visa applicants, and USCIS authorities also prioritize the EB-5 regional center applications over direct investment projects.
Should You Choose The Project Or The Regional Center?
The applicant must keep in mind that they are ultimately investing in a project. The project may or may not be handled directly by the regional centers and will have some project managers for the job.
Therefore, it is essential to conduct due diligence before you invest in the project to ensure that you met the goals through the EB-5 regional center project you are investing in.
The average time taken for the EB5 visa processing is up to 13 months on average with USCIS. This is the average time, which can be more or less depending upon the country and project.
To get your EB 5 visa from India, get in touch with your attorney and start the application process now. For more EB5 visa news, stay in touch with your immigration attorney.
Why EB5 Visa India Is Popular Among Indian Immigrants?
Entrepreneur visa (EB-5 Visa) or golden visa is famous among the Indian businessman justifiably so. Here are some of the reason why you should be considering this visa option as well-
- It is the best choice for Indian investor which does not need any employer’s sponsorship or have any restrictions
- Regional center minimize the risk on your investments
- EB5 visa India offers more freedom once you are a US citizen
- Your dependents can also get the US citizenship
- The EB5 visa India processing time is less than other visa categories
Does An Investor Need A US Account?
It is preferred to have a bank account in the US for the capital transfer into the account. Further, the funds can be transferred to the escrow account (a 3rd party, including the escrow agent), who additionally assign the money per the conditions the applicant and EB-5 issuer agreed upon.