Immigration Lawyer Chicago/ Immigration Forms for U.S. Citizenship, Naturalization, and Admission/ Your Guide to Completing I-956 Form
Are you considering applying for Regional Center designation for your EB-5 investment project? If so, it’s essential to understand the I-956 application process and the requirements for approval.
The I-956 Form, the Application for Regional Center Designation, is the crucial document determining whether your investment project qualifies as a Regional Center under the EB-5 visa program.
In this blog post, we will provide an overview of what the I-956 is, who needs to file it, and the benefits of being a designated Regional Center. We will also walk you through the eligibility requirements, application process, and tips for success.
A regional center is designated by the United States Citizenship and Immigration Services (USCIS) to promote economic growth in a specific geographic area. Regional centers are private, for-profit entities seeking to attract foreign investment through the EB-5 program. Regional centers are located throughout the United States.
One of the key benefits of investing through a regional center is that it allows EB-5 investors to pool their funds with other investors, which can help to mitigate the risks associated with individual investments. Regional centers typically use the pooled funds to finance various projects to create jobs and spur economic growth in the designated area.
To become a designated regional center, you must apply through the USCIS with Form I-956, a 12-page application form. Once a regional center is approved, it can offer investment opportunities to EB-5 investors seeking permanent residency in the United States.
Form I-956 is used to request authorization to act as an agent for an EB-5 investor in the United States. An agent acts on the investor’s behalf and has the authority to make decisions and take actions related to the EB-5 investment.
The cost of filing Form I-956 is $17,795.
To participate in the regional center program, every individual associated with the center must fill out and submit Form I-956H, which verifies the legitimacy of the persons involved. A biometric services fee of $85 per person must be paid.
Here are some tips for completing Form I-956 accurately and efficiently:
The processing of Form I-956 is a lengthy one. The time required for the processing of this form is currently unknown and typically involves the following stages:
The processing times for Form I-956 can vary depending on factors such as the workload of the USCIS and the complexity of the application. It’s recommended that applicants submit their applications as early as possible to avoid any delays.
Individuals or entities that wish to act as an agent for an EB-5 investor are eligible to file this form.
To be designated as a regional center by the United States Citizenship and Immigration Services (USCIS), an organization must meet the following criteria:
To be eligible for an EB-5 visa, an individual must make a qualifying investment in a new commercial enterprise.
The investment must meet the following requirements:
Regional centers can focus on various project types, including real estate development, infrastructure projects, and energy projects. The USCIS evaluates each regional center’s business plan to ensure that it promotes economic growth and job creation in the designated geographic area. As long as the project meets the requirements of the EB-5 program, it can qualify for regional center designation.
At Scott D. Pollock & Associates, P.C., we have expertise in filing forms like I-956, which can be difficult and have extended processing times. Our experienced immigration attorneys are dedicated to helping you navigate this process, giving you your best chance at efficient approval.
We can help you submit the required paperwork, answer any questions about the process, and help you be on your way to establishing a regional center in the United States. Contact us today to get started.