A rural EB-5 project has become the first-ever to receive USCIS “exemplar” approval of Form I-956F under the EB-5 Reform and Integrity Act of 2022 (the “RIA”) in just 9 months – the fastest EB-5 project “exemplar” approval that EB5AN has seen in the last 10 years. Prior to the RIA, the approval process for EB-5 project “exemplar” applications (Form I-924 before the RIA) was traditionally very long, often taking several years.
Now, under the RIA, USCIS approval of rural EB-5 projects (Form I-956F) and individual EB-5 investors (Form I-526E) will be much faster. The approval of a Form I-956F is the first step for USCIS to review and quickly approve individual EB-5 investor I-526E petitions in the rural EB-5 project.
The breakthrough in processing times highlights the benefits of investing in rural EB-5 projects and demonstrates how priority processing and set-aside visas for rural EB-5 projects can significantly speed up the immigration process for new EB-5 investors.
Benefits of Investing in a Rural EB-5 Project
Invest in a Rural EB-5 Project
Form I-956F
After the introduction of the RIA, which increased reporting and transparency requirements, USCIS began releasing a series of new applications for both EB-5 investors and projects.
Form I-956F is the “project request” application that a project’s regional center sponsor must submit before their investors can file their I-526E petitions. The form requests information about the project’s location, whether it’s in a targeted employment area (“TEA”), the expected amount of EB-5 capital investment, and the industries affected by the project.
The form must also contain detailed background information on anyone who has substantive authority to make operational or managerial decisions over pooling, securitization, investment, release, acceptance, or control or use of any EB-5 capital from immigrant investors.
Form I-526E
Form I-526E is the first application that EB-5 investors must submit to USCIS. Upon approval, investors become eligible for a conditional U.S. Green Card and can immigrate to the United States. Typically, many EB-5 investors experience I-526E processing times of 3 to 5 years, and wait times are even longer for investors from countries with a backlog of EB-5 petitions.
Benefits of Investing in a Rural EB-5 Project
However, under the RIA, investors in rural EB-5 projects can immigrate much faster.
One of the major benefits of investing in a rural EB-5 project under the new rules is priority processing. Investors in rural projects can expect to have their I-526E petitions adjudicated significantly faster, as demonstrated by the newly-approved rural Form I-956F petition mentioned at the outset.
As China and India both have an EB-5 visa backlog, investors from these countries would ordinarily have to wait many years before immigrating. However, 20% of the total EB-5 visa supply is now set aside for investors in rural projects.
This means that while the set-aside visa supply is available, investors from China and India who invest in a rural project will not be subject to additional delays to receive Green Cards. This allows them to come to the United States as Green Card holders years earlier than previously possible.
Despite the unique benefits of investing in rural projects, EB-5 investors still need to choose carefully. They need to make sure that their rural projects comply with USCIS requirements, create ten jobs per investor, and succeed financially. Otherwise, investors’ immigration outcomes will be at risk, and they may not get a timely return of their capital.
For these reasons, it’s important to do thorough due diligence and select the right rural project to invest in.
EB5AN, a leading EB-5 regional center operator, is proud to offer two best-in-class rural projects open for investment: Twin Lakes Georgia and Wohali Utah.
Invest in a Rural EB-5 Project
Twin Lakes Georgia
Twin Lakes Georgia is a 1,300-unit single-family housing community that has already created all of the necessary jobs for its EB-5 investors. With more than 480 homes already sold, and an already profitable business model in the senior retirement housing sector, EB-5 investors in the Twin Lakes project will also enjoy high chances of financial and immigration success.
Saltaire St. Petersburg is being developed by the Kolter Group, one of the top 25 private home builders in the United States. The Kolter Group is 100% independent of EB5AN, and our 10+ prior Kolter EB5AN EB-5 projects have all succeeded financially and almost all have already received USCIS approval.
Wohali Utah
Wohali Utah is a 428-unit residential golf community just outside Park City, Utah. With a prime location in the Utah backcountry, rural TEA designation, a strong capital structure that does not rely on EB-5 funding, and a clear capital repayment term, EB-5 investors in the Wohali Utah project will enjoy a level of immigration and financial safety that is unparalleled in the EB-5 industry. EB-5 investors will also receive set-aside visas, priority processing for Form I-526E, and job creation and I-526E approval guaranties. The project developer is 100% independent of EB5AN.
For more information, schedule a free consultation with EB5AN.
