REGIONAL CENTER OWNERSHIP VS. LEASING— BY DAVID HIRSON, CLAUDIA REA JIMENEZ & KARLA SAMAYOA
typically include a one-time sign-up payment for the license and an annual charge based on funds raised. Additional annual USCIS compliance and legal fees may be prorated when shared with other projects— further savings, no matter how small.
THE SCOPE OF SUPPORT: WHAT REGIONAL CENTERS PROVIDE The level of support provided by regional centers can vary significantly depending on their structure and ownership. Some offer only basic sponsorship, while others take a full-service approach that includes strategic guidance, industry connections, and introductions to foreign agents who can help source investors.
Full-service regional centers may assist with deal structuring, analysis of investor trends, and referrals to specialized providers such as immigration attorneys, economists, and fund administrators. They may also handle key operational tasks, including annual audits, compliance reporting, and preparation for USCIS inspections, required every five years.
Additionally, some regional centers offer to source investors on behalf of the owned or controlled entity known as the New Commercial Enterprise( NCE). In such cases, the regional center actively participates in investor marketing efforts, leveraging its established network of migration agents, marketing firms, and industry contacts to attract qualified EB-5 participants. This arrangement can provide significant advantages to project sponsors who do not have their own investor outreach infrastructure. However, it may also involve
The level of support provided by regional centers can vary significantly depending on their structure and ownership additional fees, commission structures, and regulatory compliance obligations under both USCIS and securities laws.
The expanded obligations under the RIA have made regional center operations far more complex. Many developers are rightly wary of taking on those responsibilities themselves. Choosing a regional center for sponsorship requires careful deliberation of anticipated needs, benefits, and obligations.
WHY SOME DEVELOPERS STILL CHOOSE TO OWN Despite the regulatory hurdles and long wait times, some developers prefer to establish their own regional center. Ownership offers freedom: the ability to file at their own pace, to sponsor multiple projects, and to control branding and investor messaging.
Over time, a well-run regional center can also become a valuable revenue-generating asset. Licensing projects under their umbrella, developers can collect fees of their own and establish a long-term presence in the EB-5 industry. This strategy may be attractive to developers planning multiple future raises or those with the resources to withstand longer timelines and higher upfront costs.
Branding also plays a role. When developers control their own regional center, they can position themselves as committed stakeholders in the EB-5 program. That credibility can help attract investors, particularly in a market where trust and compliance matter.
THE HIGH COST OF ENTRY The choice to build a regional center should not be made lightly. The I-956 application USCIS filing fee alone currently costs $ 47,695.( See Temporary Reduction in USCIS Filing Fees below). It requires extensive documentation, including hypothetical business plans, economic impact studies, and corporate governance materials— the complexity and cost increase when a developer seeks approval for multiple counties or states.
= Additionally, if the geographic coverage is noncontiguous— for instance, spanning Oregon and California— a separate I-956 application and fee must be submitted for each area. Another $ 47,695 filing fee for each project! Developers hoping to operate in multiple states, such as California and Texas, will need to secure two regional center approvals per USCIS practice. None of these approvals is guaranteed.
Even after approval, any significant change to the regional center— such as adding counties or replacing a principal— will trigger the need for an amended application, again requiring a $ 47,695 filing fee.
Temporary Reduction in USCIS Filing Fees A federal court struck down the April 2024 fee increases in November 2025( Moody et al. v. Mayorkas). Filing fees have reverted to pre- April 2024 levels:
· I-956: Now $ 17,795( not $ 47,695)
· I-956F: Now $ 17,795( not $ 47,695) Important: DHS has proposed new fees under public comment( deadline December 22, 2025), so fees may change again soon.
THE LEGISLATIVE WILDCARD Perhaps the most significant risk to owning a regional center is the program’ s uncertain legislative future. While the RIA reauthorized the Regional Center Program through September 30, 2027, only filings received before September 30, 2026, are statutorily protected(“ grandfathered”) if the Regional Center Program is not reauthorized. What happens to applications submitted after that date remain unknown, and Congress has not yet acted to clarify or extend the program beyond 2027.
Historically, when the regional center program previously sunset, all cases came to a complete standstill, and adjudication of actions could not be continued until the reauthorization of the regional Center program by Congress.
This sunset clause introduces uncertainty. For developers investing significant resources in establishing their own regional center, the risk of a lapse in authorization could translate into lost time and sunk costs. Leasing, on the other hand, allows for more nimble adaptation to regulatory changes.
LEASING AS A STRATEGIC SOLUTION For developers who are launching smaller or one-time projects, leasing offers a faster, more cost-effective way to participate in the EB-5 program. Without the need to wait over a year
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