If you’re looking at EB5 immigration as your path to the United States, you need to understand how working with a regional center helps you make the move smoothly and why it is important to at least consider regional centers when you apply. While the program is technically open to anyone looking to invest, these centers are set up to facilitate the process in a few key ways, and that makes it easier for investors from a variety of backgrounds to make the move.
How Regional Centers Gain Advantages
When an organization is designated under this program, it is given a few key advantages for working with EB5 applicants:
- Regional centers may count indirect job creation as well as direct job creation in the impact of investments
- They can bring together multiple investors as long as the investment and job creation threshold is met for each investor
- They can run multiple EB5 projects at once so they have opportunities for multiple investment interests
- Designated centers also work with states to identify opportunities in targeted employment areas that will do more good while providing great investment opportunities.
These advantages make it much, much easier for EB5 regional centers to find opportunities and match them to investors than it is for investors to operate on their own.
What Does it Take to Get Regional Center Designation?
Regional centers receive this designation through an application process similar to that used for individual applicants, only with a slightly different process. Like individuals applying to the program, a regional center’s application needs to come with an example project. This can be accomplished through the proposal of an appropriate project as an example to show the center has identified prospective projects or it can be through the presentation of a shovel-ready project with the application.
It’s also highly encouraged to apply for regional center designation with an exemplaryy I-526 applicant included in the package. This is because the USCIS is more likely to approve the application with both a real project ready to go and at least one investor attached. After that, adding subsequent investors and researching new projects is much, much easier.
Regional Centers and EB5 Applications
If you go through a regional center, much of your application process will be guided, and you will have support for a few of the most important steps along the way. These centers have the ability to provide you with information as you go in addition to helping you find the initial project. Most importantly, they also have escrow accounts set up for receiving the investment funds and documenting their availability to the government. That makes it a lot easier to finish the process.
Unless you are working with a regional center that explicitly advertises its inclusion of an immigration attorney with its services, though, you will still need to retain your own attorney. Otherwise, you simply won’t be able to complete the process, because navigating the U.S. immigration process even for a well-defined program like this requires the help of an expert. Contact us today for more information.