USCIS alert on regional center designation

The USCIS EB-5 page was updated today April 11 with this message.

Congress repealed Section 610 of the Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act, 1993, in the EB-5 Reform and Integrity Act of 2022, Div. BB of the Consolidated Appropriations Act, 2022 (Pub. L. No. 117-103) (Sec. 101 and 102). Therefore, regional centers previously designated under section 610 are no longer authorized. The EB-5 Reform and Integrity Act of 2022 requires all entities seeking regional center designation to provide a proposal in compliance with the new program requirements, which will be effective on May 14, 2022. We will provide further guidance to entities desiring to be designated as regional centers under the new program. We are not accepting Form I-924, Application For Regional Center Designation Under the Immigrant Investor Program, for this purpose.

Sigh. The EB-5 Reform and Integrity Act text does not does not, in fact, say that all previously-designated regional centers lose designation and need to reapply. But we’d been wondering about this since Senator Grassley expressed his impression that the law included such a provision. I guess I shouldn’t be surprised that USCIS has chosen the interpretation that will lead to maximum delays for future regional center investment and maximum confusion for in-process EB-5 projects and pending regional center applicants. There were 632 regional centers at last count as of October 25, 2021, and over 100,000 pending EB-5 applicants associated with the previously-designated regional centers. What happens next? Are billions of dollars in regional center investment suddenly stateless, pending the USCIS timeframe to review hundreds of new regional center applications? I would bet that as of today, USCIS intends no retroactive harm but simply hasn’t thought anything through and doesn’t know what further guidance it’s going to provide.

About Suzanne (www.lucidtext.com)
Suzanne Lazicki is a business plan writer, EB-5 expert, and founder of Lucid Professional Writing. Contact me at suzanne@lucidtext.com (626) 660-4030.

7 Responses to USCIS alert on regional center designation

  1. Krish Vr says:

    I think it is time for all investors to think this seriously. All these USCIS and Congress are playing games. There is billions of dollars of hard earned money invested and now I seriously lost hope here. I don’t think these guys care for any of us. Thanks Suzanne for keeping us all up to date.

  2. RC says:

    Are current investors not protected from this under grandfathering?

  3. Syed Mubashir Abbas says:

    Very very helping and informative comments with in-depth analysis as always.
    According to the current eb5 programe’s situation, can you please suggest, what will happen to my case.
    As my i526 application have been approved last year in April. I’m Pakistani national and based in Dubai (UAE).
    Currently is USCIS/NVC working on cases like mine (post i526 approval) after reauthorization of EB5 program ?? or they will start working on them after May 14, 2022 ?
    Please reply, as it will be very helpful for me and all the other investors who have their i526 approved
    Thanks

  4. James says:

    New passed EB5 bill is just saying;”Get away, Chinese old investors, we need your quota for new oversold.as to money, it is not my business……”

  5. Lee says:

    I see USCIS’ statement that all existing RCs are no longer authorized and must re-apply (probably a lengthy adjudication to get reauthorized) as its attempt to hold off on having to do additional work until it figures out what to do. I would not be surprised if USCIS takes 2 years to reauthorize RCs and start accepting I526 petitions.

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