Yes, a regional center-sponsored EB-5 project must receive pre-approval from the United States Citizenship and Immigration Services (USCIS) to Obtain exemplar status. Form I-956F.
Application for Approval of an Investment in a Commercial Enterprise
In May 2022, USCIS introduced Form I-956F. This was one of the changes brought about in the industry after the EB-5 Reform and Integrity Act. Previously, project developers could submit a request to have their EB-5 project granted exemplar status through Form I-924. The greatest benefit that exemplar status of pre-approved project offers is a streamlined adjudication time for investors submitting Form I-526E after investing in that specific project. Aside from Form I-956F, Eb-5 regional center must initially file Form I-956. Application for Regional Center Designation, to proved the the proposed regional center will have a positive economic impact throughout its requested geographic area.
The regional center’s geographic area must be defined and justified, and it can be as large as multiple states or as small as a single census tract, according to the design of Form I-956. In addition, all persons in positions of “substantive authority” must be defined in the I-956 petition and must submit Form I-956H, Bona Fides of Persons Involved with Regional Center Program.
