EB5AN is now offering consulting services for business entities interested in obtaining regional center designation from United States Citizenship and Immigration Services (USCIS). We offer turnkey consulting services for EB5 regional center applications, with a one-time fixed cost and a guaranteed turn-around time of just weeks.
EB5AN operates more than 10 regional centers whose geographic coverage area spans multiple states. In addition, we have created over 100 regional centers with a 100% USCIS approval rate, and we have crafted more than 100 USCIS-compliant business plans and economic impact studies for regional center applications.
Applying for regional center designation requires legal expertise, economic analyses, business plans, and an understanding of how USCIS adjudicates Form I-956, Application for Regional Center Designation. Many EB-5 industry members have succeeded in raising EB-5 investment funding thanks to our consulting services. We use our extensive experience with the EB5 regional center designation process to help our clients understand all the key components and common pitfalls of preparing Form I-956. Click here to view our official EB-5 regional center approvals listed on the United States Citizenship and Immigration Services (USCIS) website.
Schedule a free consultation to learn more about the EB5 regional center designation process and how we can work together to get your regional center approved quickly by USCIS.
Benefits of EB-5 Regional Center Designation
Regional center designation enables a business entity to raise and administer funds from EB-5 immigrant investors. While EB-5 projects that are not sponsored by a regional center can raise funds from only one EB-5 investor, regional center projects are allowed to pool funds from multiple investors. As a result, regional centers can work with EB-5 projects that require a larger capital raise. Projects across a wide variety of sectors, particularly real estate development, raise EB-5 funding through regional centers.
An added benefit of regional center sponsorship is the ability to count indirect and induced employment. USCIS requires each EB-5 investor to demonstrate that at least 10 jobs were created as a result of their funding, and projects without a regional center sponsor can only count standard, W-2 positions toward the employment creation minimum. In contrast, regional center-sponsored projects can also include indirect and induced employment. These two types of jobs are a result of an EB-5 project’s positive economic impact through spending and revenue. In this way, regional center projects can fulfill the job creation requirement for their EB-5 investors simply by documenting their revenue and construction expenditures.
The flexible job creation criteria and ability to pool funds from multiple investors make regional center projects the preferred choice for EB-5 investors. In fact, a September 2021 study found that approximately 93.4% of EB-5 visas had been awarded to investors in regional center projects. To date, regional centers have overseen the flow of tens of billions in EB-5 investment funding into U.S. businesses.
The transparency and financial reporting requirements introduced in March 2022 by the EB-5 Reform and Integrity Act of 2022 make regional center projects an even more appealing option. Regional center investors will now receive yearly reports on how their funds are being used, along with other periodic updates. As part of the Reform and Integrity Act, USCIS will also oversee regional center operators and their projects more carefully. Investors’ confidence in regional center-sponsored offerings will likely increase in the wake of these new regulations.
The Reauthorization of the Regional Center Program
On June 24, 2022, the EB-5 Regional Center Program was reauthorized by a U.S. federal court ruling following a nearly year-long lapse. The pent-up demand for regional center EB-5 offerings will likely result in a competitive market, and many more business entities are likely to apply for regional center designation.
USCIS is once again accepting I-526E visa petitions from regional center investors, who are now offered an additional incentive to make an EB-5 investment: under the Reform and Integrity Act, new investors in projects with targeted employment area (TEA) designation are now eligible for set-aside EB-5 visas. Investors from countries with a backlog of EB-5 visa applications can potentially avoid years-long processing delays by obtaining a set-aside visa through a regional center project.
Obtaining EB-5 Regional Center Designation
Business entities interested in becoming licensed EB-5 regional centers must prove to USCIS that they will accomplish the EB-5 program’s goals of promoting economic growth and employment creation. The detailed business plans, economic projections, and other documentation to be included in the I-956 application usually require months of research, and regional center applicants must work with EB-5 immigration attorneys, economists, and other industry experts during the application process. In addition, there are still no data available on estimated processing times for Form I-956. The processing period could potentially take several months, and USCIS will scrutinize each applicant’s documentation carefully to ensure compliance with all EB-5 program regulations.
Regional center applicants must demonstrate the following main points in Form I-956.
- Jobs will be created throughout the regional center’s geographic coverage area.
- The projects sponsored by the EB5 regional center will have a significant economic impact throughout the coverage area.
- The EB5 regional center will comply with the reporting and transparency requirements introduced in the EB-5 Reform and Integrity Act of 2022, including annual reports to investors and audited financial statements.
- All individuals with “substantive authority” in the regional center must be identified. They must also submit additional personal background information in Form I-956H.
Our consulting services can significantly reduce the time and expenses involved in the regional center designation process. As an industry-leading regional center operator, we submitted one of the first Form I-956 applications shortly after the petition was first released in May 2022. This application included detailed business plans, economic impact reports, and our very own Policies and Procedures manual showing our compliance with the latest integrity measures.
We are committed to helping out clients submit their I-956 applications in the most timely and cost-effective way possible. Our team has significant experience in structuring EB-5 investment projects and creating high-quality business plans and economic impact reports for regional center projects.