The USCIS has just agreed to a settlement which resolves two pending lawsuits filed against the government, paving the way for approved EB-5 Regional Centers like American Venture Solutions (“AVS”) to begin filing new EB-5 investor petitions (I-526E) without waiting for USCIS adjudication of new Regional Center compliance form.
When the EB-5 Reform and Integrity Act of 2022 was passed earlier this year, Congressional intent and the law’s language made it clear that the purpose of the law was to enhance investor protections and improve transparency in the EB-5 program. To the shock of the industry, USCIS responded to the law by concluding that it meant that all previously approved and operating EB-5 Regional Centers were effectively terminated. That prompted a series of lawsuits in which IIUSA, the leading EB-5 industry group (in which AVS is an active member), joined as a plaintiff.
While the settlement resolves a number of issues, the key takeaway for prospective EB-5 Regional Center investors is that new RC investor petitions can be filed right away for investors selecting projects presented by approved Regional Centers. USCIS had previously stated that previously-authorized regional centers like AVS had to file Form I-956 required by the new law and then wait for USCIS to APPROVE said form before investors could begin filings their petitions; given the massive delays in USCIS processing, that could have meant that investors would be waiting for months (or years) before they could file their I-526E petitions. Under the terms of the settlement, the USCIS acknowledges the continuing validity of existing approved EB-5 Regional Centers like AVS and stipulates that new EB-5 investors do NOT need to wait for I-956 approval before they can begin filing their I-526E. [Click to see the full settlement agreement ]
AVS Regional Center is currently offering River Oak EB-5, a new real estate development project located in a Targeted Employment Area (“TEA”) in Indiantown, Florida, developed by the same trusted group for which AVS has exclusively raised EB-5 funds since 2011. Working with this group, AVS has delivered over a decade of consistent I-526 and I-829 approvals, surplus job creation, and full recuperation of capital at time of divestment .
River Oak EB-5 is a Single Family Home rental community with 170 detached homes, operated by Lindemann Multifamily Management, one of America’s leading residential real estate groups and available only to a select group of 25 investors! Please contact AVS Regional Center at info@avseb5.com to confirm your eligibility to invest and reserve your Limited Partner stake in River Oak EB-5.