EB5 Investors Magazine Volume 2 Issue 1 | Page 38

Step Up Your EB-5 Legal Representation

Immigration • Project Finance • Securities / Corporate • Fund Formation • Real Estate • Tax • Securities Litigation / Defense
For more information please contact :
John D . Tishler 858.720.8943 | direct jtishler @ sheppardmullin . com
With offices across the U . S ., Europe and Asia . www . eb-5opportunities . com www . sheppardmullin . com
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Actual projects
An actual project proposal is best for you if you have a specific project in the advanced stages , and you are interested in deference for future investor applications while maintaining some degree of flexibility .
Actual projects require more detail than hypothetical projects , but are less complicated than exemplar projects . An actual project has been referred to as a “ shovel-ready ” project , which means that the project is in its advanced stages . It also implies that construction can start on the project , and that it will have an immediate impact on employment and the economy . In order to show these necessary details , specific evidence , including a sound business plan , is essential .
An actual project proposal must include a Matter of Ho-compliant business plan . The application needs to include enough specific evidence to prove “ that the proposal contains verifiable details and is supported by economically or statistically sound forecasting tools .” 3 Determinations based on an actual project will receive deference in subsequent filings of I-526 petitions . If USCIS makes a favorable determination based on an actual project proposal and uses this decision in subsequent filings with the same material facts and issues , then it is easier to predict the outcome of I-526 petitions . Another notable benefit of submitting an actual project is that small changes can be made to the business plan and supporting documents when submitting the I-526 petition ( such changes , however , must not be material ).
If it is determined that an actual project proposal does not include sufficient verifiable details , the project can still be approved as a hypothetical project ; however , it will not receive deference .
Exemplar projects
An exemplar project proposal is best for you if you are fully committed to your project and would like to ensure the highest level of certainty that project documents will be approved in investor applications , through pre-approval .
An exemplar project proposal applies when an applicant files a template I-526 investor form with an I-924 application including an actual project proposal . In order to receive a compliance review of the specific project , applicants must submit an exemplar project using an I-924 application along with an I-526 form . Such a review includes an evaluation of any organizational and transactional documents to determine whether they are compliant with the EB-5 program . An exemplar project is the most complicated project of the three choices , because approval is based on both project and immigration eligibility . When USCIS considers an exemplar project , it considers the requirements of an actual project , as well as the I-526 requirements for investor petitions .
A major advantage of filing an exemplar project is that USCIS will pre-approve this type of project provided that all necessary elements are included , and if sufficient detail is provided according to compliance with EB-5 eligibility requirements . However , no changes to the supporting documentation are permitted , including the business plan , when filing future petitions . For exemplar cases , a complete and comprehensive Matter of Ho business plan is required , and is effectively the crux of the application .
The determination of whether an applicant should submit a hypothetical , actual or exemplar project depends largely on the amount of verifiable detail available at the time of filing , as well as the ultimate goal of the submission . This determination should not be made without careful consideration and professional advice from immigration counsel and qualified professional ancillary service providers .

USCIS ’ s Policy Memorandum dated May 30 , 2013
Lauren Cohen is an active AILA member with first-hand knowledge of the visa process , having emigrated from Canada . Lauren developed e-Council Inc . com to focus on designing professional business plans . e-Council Inc . com ’ s multi-disciplinary professional team approach incorporates a suite of complementary services for the EB-5 investment process . At all stages , we produce high-quality work product and are responsive to all parties in the EB-5 mix , while ensuring Lauren Cohen client satisfaction . Our stellar track record speaks for itself .
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