96 UGLOBAL IMMIGRATION MAGAZINE
The question is whether it will be 6 months , 1 year , 2 years or permanent .
For future EB-5 Investors , a permanent reauthorization is the solution and answer , a positive outcome .
However , if only for months or years , it will continue to sunset .
In addition , with the temporary reauthorization , the current policy is that sunsetting will cause the suspension of I-526 and CPR processing by USCIS and the State Department .
CURRENT POLICY
Once an investor obtains Conditional Permanent Residency ( CPR ), the USCIS and the State Department will continue their I-829 application for permanent residency ( Unconditional Permanent Residency ).
LET THE INVESTOR BEWARE
The average USCIS and State Department processing time from filing an I-526 petition to obtain CPR is 2 ½ to 3 years .
Therefore , if the EB-5 Regional Center Program is reauthorized for less than 3 years , then the EB-5 Regional Center Program may sunset before the investor receives their CPR . That is , the EB-5 Regional Center Program sunsetting again without reauthorization , will lead to the current policy of the USCIS and State Department not continuing the process of adjudicating the I-526 Petitions and obtaining CPR . This current policy continues .
THE SOLUTION : A NECESSITY AND IMMEDIATE NEED
U . S . Congress , and the USCIS / State Department will need to “ grandfather ” in ( continue processing ) all past , present and future filings ( over 80,000 ) of I-526 petitions and applications for CPR .
That is , even though the EB-5 Regional Center Program is reauthorized for only a month , or short period , as long as an I-526 petition is filed during this re-authorization short period , and even if later the EB-5 Regional Center Program sunsets , the USCIS / State Department will continue to process , the I-526 petitions and applications for CPR filed .
“ U . S . Congress and USCIS / State Department will need to immediately “ grandfather ” in the pending and future investor cases and / or permanently reauthorize the EB-5 Regional Center Program .
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THE REALITY : FOR EB-5 REGIONAL CENTERS
Under current conditions and policies , how with a good conscious can an EB-5 Regional Center Program , attorneys for the investor , service providers , broker / dealers , investment advisors etc . advise investors to commit their funds to an EB-5 Regional Center Program project when the EB-5 Regional Center Program is only reauthorized for a short period of time ?
Therefore , the solution and for the continued viability of the EB-5 Regional Center Program and their projects , U . S . Congress and USCIS / State Department will need to immediately “ grandfather ” in the pending and future investor cases and / or permanently reauthorize the EB-5 Regional Center Program .
IS EB-5 STILL ALIVE ? WHERE ARE WE NOW ?
The EB-5 Program for a direct investment is permanent .
That is , a foreign national can invest their personal funds into their own U . S . business project or a project / business organized by a separate management company , and their