USCIS QUARTERLY EB-5 STAKEHOLDER MEETING

On January 23, 2012, USCIS hosted an EB-5 Quarterly Stakeholder Engagement via teleconference. The meeting included a focus on EB-5 issues of concern to state governments, and USCIS subject matter experts provided an overview of state government’s role in the EB-5 process. In particular, the delegation of authority for states to designate TEAs, the USCIS deference to state TEA designations, and USCIS procedures for managing abuse of TEA designations were discussed. In addition, other EB-5 topics of concern to stakeholders were discussed.

EB-5 Quarterly Stakeholder Engagements are designed as an opportunity for stakeholders to ask questions about the process, and receive responses from a panel of subject matter experts. The following reflects the content of this question and answer session.

CONDITIONAL PERMANENT RESIDENCE

Q: Please discuss the procedure for the investor to obtain conditional permanent residence status and clarify whether the investor is authorized to work during that time. In addition, please clarify whether it is USCIS procedure to limit the duration of the I-551 stamp until the date of a scheduled master calendar hearing or merits hearing, which are frequently continued.
A: Upon approval of the Form I-526 petition, the EB-5 investor will either file a Form I-485, Application to Register Permanent Residence or Adjust Status, with USCIS to adjust status to conditional permanent resident within the United States, or file a DS-230, Application for Immigrant Visa and Alien Registration, with the Department of State to obtain an EB-5 visa for admission to the United States. The EB-5 investor (and his or her derivative family members) is granted conditional permanent residence for a two-year period upon the approval of the I-485 application or upon entry into the United States with an EB-5 immigrant visa. The Conditional Permanent Resident card will be valid for two years, and can be extended for one year upon receipt of a properly filed Form I-829 Petition by Entrepreneur to Remove Conditions. Any extensions are normally for one year and the investor is authorized to work the entire
period that they are considered to be a conditional permanent resident. Additionally, if the investor becomes subject to proceedings, USCIS offices will limit the duration of the I-551 stamp until the date of a scheduled master calendar hearing or merits hearing. To ensure proof of valid immigration status, the investor may have to make repeated visits to the local USCIS office until the investor’s case is decided. If extended foreign travel is required during this period, the investor should coordinate trips abroad within the period of his or her valid status.

Q: Please confirm when an applicant must file Form I-829 with USCIS.
A: According to 8 CFR 216.6(a)(1) the alien investor must file an I-829 within the 90-day period preceding the second anniversary of his or her admission to the United States as a conditional permanent resident. In other words, within the 90 day period preceding the expiration of his/her conditional green card.
 

Q: Please provide an update on how USCIS will use the information collected on Form I-924A and when a summary of that information will be available.
A: USCIS plans to publish summarized Regional Center data in order to be responsive to requests for this information from a broad spectrum of USCIS’ external stakeholders, to include members of Congress,other federal agencies, state agencies, and major media outlets. USCIS plans to publish data provided each year by all designated regional centers, to include attributes of the RC-affiliated capital investments,such as:
1. the geographic areas and industry categories receiving investment capital;
2. The volume of regional center affiliated capital invested, and;
3. The number of jobs created or maintained as a result of the capital investments.

This data will be published on the USCIS Web site for each fiscal year, along with summarized data
gathered systemically by USCIS.