EB-5 Regional Center Program LapseJune 30, 2021
CMB has remained a leader in the EB-5 industry for over 23 years. We always have and always will place our clients above all else. Though tremendous last-minute efforts were made by various program advocates and lawmakers to seek reauthorization, the EB-5 regional center program will lapse at midnight tonight. We look forward to sharing more information in the coming days regarding CMB’s tireless efforts to work with its partners, stakeholder organizations, industry leaders, and lawmakers to seek a timely reauthorization of the program.
Today, USCIS posted the below message outlining the actions that it will take during the Regional Center Program’s lapse.
Alert: Statutory authorization related to the EB-5 Immigrant Investor Regional Center Program will expire at midnight on June 30, 2021, unless Congress reauthorizes it. A lapse in authorization does not affect EB-5 petitions filed by investors who are not seeking a visa under the Regional Center Program.
In the event of a lapse in authorization related to the Regional Center Program, we will reject the following forms received on or after July 1, 2021:
- Form I-924, Application for Regional Center Designation Under the Immigrant Investor Program, except when the application type indicates that it is an amendment to the regional center’s name, organizational structure, ownership, or administration; and
- Form I-526, Immigrant Petition by Alien Investor, when it indicates that the petitioner’s investment is associated with an approved regional center.
In general, we will not act on any pending petition or application of these form types that is dependent on a lapsed statutory authority until further notice. If you were issued written correspondence regarding your petition or application on or before June 30, 2021, you should review the written correspondence and respond by the due date (as applicable). Although we cannot review your response at this time, we will receive and maintain the response for review if circumstances change.
We will continue to accept and review Form I-829, Petition by Entrepreneur to Remove Conditions on Permanent Resident Status, in the normal course, including those filed on or after July 1, 2021.
We will continue to accept Form I-485, Application to Register Permanent Residence or Adjust Status, based on an approved Form I-526. However, in the event of a lapse in authorization, we will be unable to act on any Form I-485 based on an approved Form I-526 associated with an approved regional center unless a visa through the Regional Center Program is reauthorized.
We will provide further guidance to the public if circumstances change or further guidance becomes necessary.
Having witnessed its benefits firsthand, CMB firmly believes in the job creating impact that the EB-5 Regional Center Program can deliver to underserved communities. We remain confident that the program will see reauthorization in the near future and as always, CMB will continue to serve and support our investors throughout the program’s lapse.
CMB engages Prevail Capital, LLC, a broker-dealer registered with the SEC and a member of FINRA and SIPC, to be the administrative placement agent for all CMB EB-5 partnerships.