The U.S. Citizenship and Immigration Services (USCIS) recently published a critical policy statement concerning non-compliance within the EB-5 Regional Center Program. This article aims to summarize the key points detailed in the new policy guidance for the benefit of those seeking to comprehend its implications.
The EB-5 Regional Center Program grants permanent residence to foreign nationals who invest significant sums in U.S job-creating commercial enterprises, acting as an attractive proposition to many aspiring immigrants. However, the new Policy Alert, PA-2021-18, released by the USCIS focuses on revising and setting forth new guidance about the non-compliant regional centers.
Firstly, the critical issue highlighted by the USCIS is the discernible procedure to handle non-compliance within the EB-5 program. It outlined the possible point-in-time suspension, termination, and appeal procedures if a regional center fails to fulfil the EB-5 compliance and reporting obligations.
The USCIS specifies that non-compliance can lead to temporary suspension followed by termination, escalating the need for Regional Centers to adhere strictly to compliance measures. However, the policy also provisions a process for appeal, affording non-compliant entities a chance to rectify issues and resume their operation.
Further, the policy guidance takes into account all possible reasons for non-compliance. If a regional center fails to submit information that centrally supports its continued eligibility or engages in fraudulent activities, it might face immediate termination. It emphasizes on the center’s responsibility to promote economic growth, job creation, and increased domestic capital investment to remain successful within the program.
Additionally, USCIS clarifies that other bases for termination may include a Regional Center’s failure to submit required information, promotion of fraudulent activities, non-generation of the necessary economic growth, or insufficient domestic capital investment.
Additionally, the Policy Alert highlights that an affected party may file an appeal or motion if they disagree with the USCIS’s decision. With the newly implemented regulations, appeals and motions must be filed online.
In conclusion, the new rules and guidelines set forth by the USCIS are designed to tighten the noose around non-compliant entities within the EB-5 regional center program and stress on the pivotal role that these centers play in promoting economic growth.
The USCIS’s new policy guidance underscores the importance of transparency and compliance within the EB-5 Regional Program and serves as a stern reminder to Regional Centers to diligently follow the set standards to avoid punitive action.
This blog intends to provide a brief overview of the new USCIS policy guide, and it should not be considered as advice. In a legal matter as intricately complex as immigration and compliance, consulting a seasoned immigration attorney would offer clarity and expert advice.
(The original article can be found at: https://www.uscis.gov/newsroom/alerts/new-policy-guidance-on-noncompliance-with-eb-5-regional-center-program)
