currently in the U . S . in a non-immigrant status , at the same time they are filing their EB-5 petition , they can concurrently file their applications for conditional residency .
HOW EB-5 SECURITIES COMPLIANCE WAS IMPACTED BY RIA :
Filing deadlines : Compliance with the uncertain filing deadline by Regional Centers ( RC ) of Form I-956 , Application for Regional Center Designation ( Form I-956 ) and whether or not all RCs are required to file such forms or whether the requirement only applies to those RCs that will actively sponsor new projects in the post-RIA world ;
Payment amount : Whether all RCs must pay the EB-5 Integrity Fund fees of $ 10,000 ( if they have oversight of less than 20 EB-5 investors ) or $ 20,000 ( if they have oversight on more than 20 EB-5 investors ) in order to meet the good standing requirements under the RIA . The absence of clarity relates to whether such payments are due from Active RCs or could pertain to those that will not sponsor new projects in the post- RIA world ( Inactive RCs );
Promoters : Questions surrounding whether all of an EB-5 issuer ’ s foreign based contracted persons / employees would be required to file the Form I-956K , Registration for Direct and Third-Party Promoters ( Form I-956K ) or the Form I-956H , Bona Fides of Persons Involved with Regional Center Program (“ Form I-956H ”) or no forms at all ;
The obligations related to foreign finders or so-called migration agents and now , their sub-agents , with the filing of the Form I-956K and the related amendments subsequent to signing
agreements with each new NCE . USCIS ’ s expansive view of the Form I-956K appears to include even those employees that may have more administrative duties and do not receive any form of transactional base compensation ;
The concept of a “ promoter ” and the obligation to ensure that the EB-5 investor provides written confirmation that s / he is aware of the compensation payments to the RC , the NCE ’ s Manager / GP , the migration agent and their respective subagents of a foreign promoter .
Authority role : The confusion on how to determine what
" Investor roles : Describing the treatment of pre-RIA and post- RIA investors in the same NCE and the structural issues related thereto ."
USCIS ’ s standards are to ascertain which persons have “ substantive authority ” in a new commercial enterprise or a Regional Center with respect to the requirements for filing the Form I-956H ;
Fund administrator : The underlying role of the newly defined and required “ Fund Administrator ” in comparison with a new
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EB-5 INVESTORS ' TRUSTED IMMIGRATION GENERAL COUNSEL
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