The U.S. Citizenship and Immigration Services (USCIS) requires eligible EB-5 regional centers to submit Form I-924A annually. With this year’s deadline fast approaching, approved regional centers should file Form I-924A with the intention of illustrating eligibility for their continued regional center status. The immigration law firm of Berd & Klauss, PLLC provides clients with comprehensive business immigration law services, including EB-5 regional center establishment. Their experience and knowledge means clients can expect to receive the best immigration advice on any issues and all EB-5 program filings.
Created by Congress to encourage job creation and foreign capital investment, EB-5 Immigrant Investor Program status allows foreign nationals who are investing in a new commercial enterprise to obtain a very favorable U.S. immigration status: conditional permanent residency. Particularly, when an investor forms his own EB-5 regional center, investment job creator requirements can be filled with indirect and induced jobs—that is, jobs that have been created collaterally by the investment—thus potentially reducing actual employment criteria. Additionally, US entrepreneurs have the benefit of setting up a regional center, which can receive capital from foreign investors who are less concerned with returns on investment than they are with receiving U.S. permanent residency status.
Filing an EB-5 regional center designation should only be undertaken with the help of an experienced and well-versed immigration attorney. Additionally, once the center’s establishment is underway, Berd & Klauss, PLLC implore such regional centers to make timely Form I-924A filings each year. Failure to do so will result in the USCIS’s issuance of a notice to terminate participation in the EB-5 Immigrant Investor Program.
If you have any questions about this year’s filing deadline, which falls on December 29, 2014, want to inquire how to set up a regional center, or have questions about other immigration legal services, call Berd & Klauss, PLLC at (212) 461-7152.