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EB-5: a narrow $500k window is set to re-open – and we can file your case in time

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We correctly predicted over a month ago that the $500 window would open. Unfortunately, when it came, it did so for just 7 days before closing on June 30.  Many of our clients did succeed in filing their EB-5 visa applications on time, but unfortunately, some simply ran out of time, or were informed by their lawyers or bankers that they could not complete the transaction in the time available.

Brief Summary: How you can be prepared should the $500k window suddenly resume

  • Prioritised EB-5 (I-526) case preparation: for our clients to be better prepared this time, we have introduced a $3k lawyer-engagement down-payment to prepare your EB-5 application in readiness to file within a few days of a sudden opening of a narrow $500k window – as happened June 22
  • In the extremely unlikely event that the normal Regional Centre EB-5 is not re-authorised, the lawyer will move your $3k EB-5 application down-payment to Direct EB-5
  • In parallel, Residency Invest will help you choose and complete forms for your choice of ideal low-risk EB-5 projects. No further payments until EB-5 is re-authorised
  • If you withdraw for any reason, your loss is limited to $3k
  • Your I-526 petition is filed with USCIS in time to benefit from a $500k window.

With the U.S. Congress soon back in session we can expect the RC EB-5 program to resume shortly.  Upon resumption, it’s unlikely that USCIS would have had sufficient time to address the shortcomings in the regulations which took the program to $900k in November 2019. Consequently, it is highly likely the program will resume at $500k for a short period until USCIS succeeds in reversing the legal anomalies which led to the increase being cancelled. The investment, then, is likely to return to $900k for all clients who file after this coming $500k window closes.

Ahead of the opening of this second window, we urge those who have already made their decision to apply for an EB-5 or who missed out during the last window, to begin the process immediately and not delay and risk missing the window again. To help you, we have minimised your risk.

Could USCIS retrospectively apply $900k to applicants who now file at $500k?
Short answer – No

Pre-June 30 applicants who filed at $500k did so knowing there was a small, but real risk that USCIS might retrospectively apply the investment figure of $900,000. We deployed contingencies in mitigation of this risk with options to return investments to applicants who couldn’t top up to $900k.

The good news is that USCIS has since confirmed acceptance of the court ruling and will apply the $500k EB-5 regulations which were in existence prior to the November 2019 increase. For the USCIS notice, read >>

But what if Regional Centre EB-5 doesn’t resume at $500k or even at all?

We have this covered. To minimise your financial commitment yet maximise your chances of opting to file your application at $500k, Residency Invest, together with Donoso Law, have introduced a prioritised Pre-Commitment service.

In the unlikely event RC EB-5 is not re-authorised, Donoso can protect your immigration needs and switch your pre-application to the less popular but viable, EB-5 Direct. Call me on +44 7966 456515 (WhatsApp) if you wish to discuss this. EB-5 direct is more complex and costly and would involve running your own business in the US.

Pre-commitment service. Prioritising your application

Donoso Law, is an award-winning firm of Immigration Lawyers based in Washington D.C, used by many our clients. By signing up to this service with Donoso Law, your application process will be prioritised in order of engagement.

Steps:

    1. Engage Donoso Law to begin preparing your application, including gathering your Source of Funds documents.To give our clients confidence to begin the process and not miss out again, Donoso Law has agreed to provide this Pre Commitment service for a down payment on their legal fees of just $3k.

      Donoso will prepare your application to an advanced stage but before you execute an EB-5 project subscription agreement and bank transfer of your investment funds. All parties then await program resumption and your final decision on whether to continue.
    2. In parallel, Residency Invest will show you best-in-industry highly secure EB-5 projects and help you through the process of choosing a project and completing subscription forms. Your completed forms would remain unexecuted with no investment funds yet required whilst all parties await program resumption and your decision to go forward. By this point, much of the time-consuming work would have been done.When the EB-5 program does resume, Donoso Law would by then have advised you as to whether your Source of Funds documents were sufficient to continue your EB-5 application. In the rare instance they are not, and your decision is to withdraw from EB-5, your loss would be limited to $3k. If the need arises to switch you to EB-5 direct, the process would continue as normal.
    3. If your decision is to commit and move forward, Post Commitment steps are as follows:

      • Begin preparation of your Source of Funds report. At this stage a further stage payment to Donoso Law of $5k is required.
      • Residency Invest will then arrange for your completed subscription forms to be executed and ensure the US project escrow account is ready to receive your investment capital and project administrative fees.
      • You pay the balance of your total legal fees to Donoso Law, including US government application filing fees.
      • Once your lawyer gives you the green light to wire, you remit your investment capital and administrative fees to the escrow account.
      • The receiving bank acknowledges receipt. Donoso Law receives a copy.
      • Donoso Law then files your I-526 EB-5 application petition.

How long does this entire application process take?

    • Steps 1 and 2 is dependent on your speed of response to information requests. 4 to 8 weeks is normal. For prioritised clients this will be accelerated to a matter of days to ensure your application is filed in time to benefit from any reduction to $500k.
    • Step 3: as long as you execute forms and wire your funds once your lawyer gives you the green light, 4 to 7 days is comfortable.

If you would like further information or wish to begin prioritised Pre-Commitment, please contact me by email or WhatsApp:

+44 (0)7966 45 65 15

peter@residencyinvest.com

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