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LP decides not to finance the designated EB-5 project ; Option available to partners to see through the GC
In case the Limited partnership on a EB-5 investment decides not to finance the designated project due to any reason after partner/ partners received their I-485 approval, what options are available to the partners to see through their GC
2. Is it necessary that the LP need to complete the financing on the designated EB-5 project for a partner to receive his/her conditional GC?
Appreciate your response
LPP-1
04-24-09
To better answer your question, it would help me to know the identity or the kind of the EB-5 project or at least the detailed investment structure involved, because my answer would depend on the investment structure of the particular EB-5 Program or Project, but without such info available to me, my take is that generally and practically speaking, USCIS will not know about the unexpected changes such as the one you mention until I-829 stage; but at that point, there is a definite possibility that USCIS might argue in future that I-829 cannot be approved due to a material change. I don't know 100% at this point whether such change will be deemed to be a "material" change though. However, it cannot be ruled out that this could turn into a serious situation later on, and I believe you require formal legal consultation in this matter.
If you wish, feel free to email us directly at: eb5attorney@gmail.com with more detailed information on the project and what exactly transpired.
Just curious. Don't you have your own attorney who handled your I-485 case to give you legal advice on this situation? In my opinion, this kind of situation highlights the need for a knowledgeable EB-5 immigration attorney.
Hi LP Partner 1
What finally happened in your case ?
Did funding take place in the designated programme?
Curious to know what options are there for investors in a similiar situation.
In regards to this issue, USCIS has recently announced at the EB-5 Stakeholders meeting that I-526 can be amended to reflect the change in the contemplated EB-5 project and/or a replacement project. However, in case of I-526 amendment, the initial time period required to create the jobs will not be extended. This is a common sense approach, and re-emphasizes the need to create the jobs by I-829 stage. USCIS is even working on a form called I-924 to accommodate this procedure.
Thanks.
I have got my I 526 approved and got I 485 clearance and temporary green card.
Does this mean I have file a fresh I 526?
The regional centre says they will be giving a letter to USCIS and I may not have to fill a new 526.
Your views please.
Just means you might have to file an amended I-526 while maintaining your CPR status.
What is the process for filling an amended 1-526 ? Do we have to wait for approval from USCIS before funding the new project?
Or as long as an application is in place we can shift to the new project? Any idea if we have to wait how long this takes? Thanks and regards
Strangely, although USCIS HQ has made the formal announcement in September 2009 during the stakeholders' conference to allow I-526 amendments to be filed, both the HQ and CSC have not yet provided any guidance, thereby causing further confusion. This kind of action or inaction adds further confusion to the EB-5 Program.
Sigh :(:( What does one do in such a situation ? My LP is not going ahead with the project my I 526 was based on. I have my temporary green card also an H1 B valid till June 2010.
Would it better to keep my H1 B alive and start a fresh EB 5 application?
Please advise.
Wait until December. USCIS HQ and CSC should make the announcement and actually implement something sometime in December.