EB5AN is pleased to announce the submission of its first Form I-956 application to USCIS for EB-5 regional center designation.
Form I-956 and Form I-956H were released on Friday, May 13, 2022, and our application was shipped on Saturday, May 14, 2022, for overnight delivery.
As one of the first Form I-956 submissions, we are hopeful that we will be one of the first EB-5 regional centers designated under the new rules, but unfortunately, USCIS has still not provided any type of timeline or estimate for the processing of Form I-956. EB5AN’s previously filed EB-5 regional center applications with Form I-924 took between 6-20 months for approval but Form I-956 approval processing is a complete unknown at this time.
To date, EB5AN has submitted 100+ applications for regional center designation with a 100% approval rate to date. Our Form I-956 application contained more than 1,000 pages, including a completely custom Policies and Procedures manual that explains exactly how EB5AN will comply with the EB-5 Reform and Integrity Act of 2022, as well as detailed business plans, economic impact reports, and supporting exhibits all organized under a summary cover letter demonstrating immediate and substantial economic impact within the targeted geographic area. Our Form I-956 application also included executed Form I-956H documents for each person with “substantial authority” involved with the EB-5 regional center, as well as checks for both the Form I-956 ($17,795) and Form I-956H ($85 each), along with passport scans and biographic details for all persons with “substantial authority”.
As we wait for USCIS approval, we are focused on helping other EB-5 industry participants quickly submit their Form I-956 applications and support EB-5 investors seeking direct EB-5 investment who are unable or unwilling to wait an unknown period of time for USCIS to start approving Form I-956 applications.