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[HOT] Required Evidences for Regional Center Designation Application
The below are required items for filing either a request for the Approval and Designation of a Regional Center or an Amendment to a Previously Approved Regional Center Designation.
- Per 8 CFR 204.6(m)(3)(i), the Regional Center must focus on a geographical area, which must be contiguous and clearly delineated in the application. TEA -- either Rural Area (areas with populations under 20,000 people that are not located within an SMSA) or areas of High Unemployment (areas with unemployment rates of 150% or more of the national rate) -- must be identified. As such, following series of maps of the proposed geographical area should be provided: 1) Standard Metropolitan Statistical Areas; 2) Rural Areas; 3) Targeted Employment Area as determined by the Governor or designee; 4) Census Tracts; 5) Unemployment Rates by Cities, Towns, Counties or Census Tracts, etc.
- Per 8 CFR 204.6(m)(3)(ii) and (v), Regional Center must explain how the requisite 10 direct and indirect jobs will be created. Therefore, an applicant must provide an economic analysis that relies on statistically valid forecasting tools that shows and describes how the required jobs will be created for each industrial category of economic activity (for example, manufacturing, food production/processing, warehousing, tourism and hospitality, transportation, power generation, agriculture, etc.). If a Regional Center plans to focus on capital investments in "troubled businesses" within the geographic area of the Regional Center, then the economic analysis, business plan and feasibility study submitted must show that each EB-5 alien investor's capital investment in a "troubled business" commercial enterprise will create or maintain at least 10 direct or indirect full-time jobs.
- A business plan for an actual or exemplar capital investment project for the above-described category of economic activity, which contains sufficient detail to provide valid and reasoned inputs into the economic forecasting tools and must demonstrate that the proposed project is feasible given current market and economic conditions. Such business plan must identify any and all fees, profits, surcharges, or other like remittances that will be paid to the Regional Center or any of its principals or agents through EB-5 capital investment activities.
- Must provide the industry category title and the North American Industry Classification System (NAICS) code for each industrial category. NAICS can be obtained from the U.S. Department of Commerce, Census Bureau (www.census.gov/epcd or www.naics.htm).
- A statement from the principal of the Regional Center that explains the methodologies that the Regional Center will use to track the infusion of each EB-5 alien investor's capital into the job-creating enterprise, and to allocate the jobs create4d through the EB-5 investments in the job creating enterprise to each associated EB-5 alien investor.
- Per 8 CFR 204.6(m)(3)(iii), provide a detailed description of the past, current and future promotional activities for the Regional Center, which should describe the budget for this activity, along with evidence of the funds committed to the Regional Center for promotional activities.
- Must submit a plan of operation for the Regional Center which addresses how investors will be recruited and how the Regional Center will conduct its due diligence to ensure that all immigrant investor funds affiliated with its capital investment projects will be from lawful sources.
- Per 8 CFR 204.6(m)(3)(iv), provide a detailed prediction which addresses the prospective impact of the capital investment projects sponsored by the Regional Center, regionally or nationally, with respect to increases in household earnings, greater demand for business services, utilities, maintenance and repair, and construction both within and without the Regional Center. This can be combined with the above explanation on how direct and indirect jobs will be created.
- Per 8 CFR 204.6(e), a full description and documentation of the organizational structure of the Regional Center which must be a public or private economic unit.
- The Regional Center should show that the capital investment offering documents, business structure and operating agreements of the proposed commercial enterprises which will be affiliated with the regional center are in compliance with the EB-5 statutory and regulatory requirements, as well as the binding EB-5 precedent decisions. For this purpose, following documents can be prepared and submitted: a) A description and documentation of the business structure of both the Regional Center entity and the commercial enterprises that are or will be affiliated with the Regional Center, such as articles of incorporation, certificates of incorporation, or legal creation as a partnership or limited liability company (LLC), partnership or LLC agreements, etc; b) Draft Subscription Agreement for Investment into the commercial enterprise; c) Draft Escrow Agreement and instructions, if any; d) List of proposed financial institutions that will serve as the Escrow Agent, if any; e) Draft of an Offering Letter, Memorandum, Private Placement Memorandum, or similar offering document to be made in writing to an immigrant investor offering capital investments through the Regional Center; f) Draft Memorandum of Understanding, Interagency Agreement, Contract, Letter of Intent, or similar agreement to be entered into with any other party, agency or organization to engage in activities on behalf of or in the name of the Regional Center.
* Acco-fasteners must be used to attach the documents at the top of each page, and individually tab the corresponding written materials and statements.