The Norris McLaughlin & Marcus Immigration Practice Group reminds all EB-5 Regional Centers that the annual regional center certification submission deadline for 2017 is December 29.
United States Citizenship & Immigration Services (USCIS) requires all EB-5 Regional Centers to submit a Form I-924A Supplement to Form I-924 at the close of each fiscal year. The filing serves to demonstrate that the EB-5 Regional Center remains eligible for the regional center designation. When reviewing submissions, USCIS looks at the regional center’s ability to promote economic growth and development, to create jobs, and to increase domestic capital investment in the USCIS approved regional center geographic area.
EB-5 Regional Centers must submit the annual certification no later than 90 days after September 30, 2017, (the end of the U.S. Government’s fiscal year). EB-5 Regional Centers that fail to submit the certification, or that submit incomplete or inaccurate certifications, may face loss of regional center designation and, therefore, jeopardize any projects and the EB-5 immigrant visas associated with the projects.
It is crucial that EB-5 Regional Centers consult with immigration counsel when preparing the certification, as the smallest of errors can lead to millions in potential project investment losses. It is not worth it to wait, or to do it alone, without competent legal representation—particularly in today’s political climate.