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What is an I-924 application and how does it affect EB-5 projects and investors?

Form I-924, Application for Regional Center under the Immigrant Investor Pilot Program, is the form used by an organization to apply for regional center designation. Projects sponsored by regional centers benefit from being able to count indirect and induced job creation along with direct job creation, which in turn can make it easier for EB-5 investors to meet the program’s job creation requirements. Form I-924 can also be used to create an exemplar project, a designation that indicates USCIS approval of a project’s documentation—which can reduce the risk associated with investing in the project.