Regional Center Designation
If you are a business seeking investment and wish to be recognized or certified by the United States Immigration and Citizenship Services (USCIS), you must apply directly to the USCIS. Designation as a regional center by the USCIS does not mean the USCIS endorses your regional center or that there is a reduced risk for the investor. However, USCIS recognition does put investors at ease, knowing that your organization is recognized and registered by the USCIS. Many EB-5 applicants prefer working with a regional center, rather than going through the EB-5 process as a direct investor.
For assistance with obtaining a regional center designation, contact our experienced Orange County immigration lawyer today. Our firm has the knowledge and skill to guide you through this highly complex process, and will always work in your best interests when you hire our firm.
Call us at (949) 478-4963 to schedule a consultation with our experienced attorney.
What Is the EB-5 Program?
The EB-5 program, sometimes called the "one million dollar green card" is a program where foreign investors ("alien entrepreneurs") can obtain permanent residency in the United States. The "alien entrepreneur" must invest either $500,000 (if in a targeted employment area) or $1,000,000 and create ten full-time jobs.
The investor can engage in this process directly by starting a business himself and fulfilling these obligations, or indirectly through a regional center. The regional center must show that the "alien entrepreneurs'" investment is $1,000,000 or $500,000 and that the specific investment has created ten full-time jobs directly or indirectly.
How Can I Be Regional Center for This Program?
The process is not as difficult as one may think, but it is highly complex. The certification process requires an abundance of documentation and studies regarding the area the regional center intends to cover. The most difficult aspect of the application is economic analyses showing job creation by the regional center. In addition, once approved, there are strict yearly filing requirements.
What Types of Supporting Evidence Are Needed?
To be certified as a regional center by the USCIS, you must provide detailed business plans, economic forecasts, and job creation analyses, among other documents, to demonstrate that the proposed project is feasible under current market conditions. The business plans should also identify all fees and profits paid to the regional center or any of its principals and agents.
In addition, the application should explain the methodologies that the regional center will use to track the investment of each EB-5 investor. There must also be a description of past, current and future promotional activities for the regional center, and the budget allocated to promotion.
Most importantly, the application must show that each investor who infuses capital in the regional center will directly or indirectly create ten jobs. For example, a project estimated to be worth $20,000,000 in an area that is not designated as a targeted employment area must show that 200 jobs will be created with the investment.
Contact Us Today for Guidance.
Becoming a certified regional center enables an enterprise to acquire low interest debt and sometimes equity to fund large projects. The certification process, however, is highly complex, requiring a team of experts in the areas of immigration law, economics, forecasting and securities law.
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