You are here[HOT] RC Program Track Records of Regional Center Programs in General and Our Sample I-829 Approvals
[HOT] RC Program Track Records of Regional Center Programs in General and Our Sample I-829 Approvals
* The recent denial rate for both I-526s and I-829s during early part of 2011 fiscal year is said to be around 15% -- that is way too high but this statistics really does not mean too much, because when you take into account I-526 or I-829 cases which are voluntarily or involuntarily abandoned or withdrawn, we would venture to guess that the actual denial rate is substantially higher than the denial rate provided by USCIS. For example, USCIS can easily deny first I-526 petition for let's say 100 investors for a RC affiliated EB-5 project on some project-related issue and then force other I-526 cases with withdraw rather than issue formal denial notices, in which case, USCIS really denied 100 cases, not one case!What we are saying is USCIS/CSC can always delay adjudication of filed cases to force you to abandon the cases, and therefore, I am not convinced USCIS released statistics are not like US employment rate, which varies depending on what numbers you plug in.
Regarding the adjudication time frames, as of Feb. 18, 2012, according to CSC Processing Times Report, I-526 takes on the average 8 months, and I-829 takes 6 months, assuming no RFE is issued. However, we have heard or observed cases taking as long as 16 months or longer!
We would be lying to you if we told you we know the track records of all regional centers, or even detailed track records of "major" regional centers. USCIS does not keep track records by individual regional centers, and unless you are the actual general partner managing the specific regional center, no one knows the true record of that regional center. Therefore, the only available statistics on EB-5 cases are from USCIS released statistics each year.
Note that we will abstain from posting such specific statements as "we heard so and so regional center had so and so problems, etc.", for two reasons: 1) such information could be based on false rumors and not be accurate; and 2) we could be sued for inaccurate information. Because there is no way we can keep up with developments and approvals or denials for all regional centers, we will only post what we know based on our own experience or what we heard from trusted source or more than one experts in the EB-5 area.
USCIS released statistics on approvals and denials for I-526 and I-829s for the first quarter of 2011 fiscal year
* Note fiscal year means from October 1 to September 30. Note also that approvals and denials are for cases submitted more than 6 months earlier. USCIS does not break down between regional center and non-regional center cases, but according to USCIS and general consensus, over 80% of all EB-5 cases filed are regional center EB-5 cases.
I-526s: over 25% denial rate.
I-829s: over 25% denial rate.
This significant increase in the denial rate of both I-526s and I-829s is a huge concern, and leads us to ask question what is the reason for this sudden increase in the denial rate. We have our opinion but will not express it here at this time.
* Note that although I-526 approvals are important first step, I-829 conditions removal approvals is what really matters.
USCIS statistics on EB-5 cases from 2005 to 2011 can be reviewed at: http://www.uscis.gov/USCIS/Outreach/Notes%20from%20Previous%20Engagement...