On May 13, 2022, U.S. Citizenship and Immigration Services (USCIS) published two new forms related to the EB Immigrant Investor program. These new forms are Form I-956F, Application for Approval of Investment in a Business Enterprise, and Form I-956G, Regional Center Annual Statement.
As of June 2, 2022, both forms must now be submitted in accordance with the new requirements of the EB Investor Immigration Program. What is the legal framework for these 2 forms and the purpose of USCIS in creating them? Answers in this article.
The legal framework of the I-956F and I-956G forms
Both forms were created under the EB-5 Reform and Integrity Act of 2022, which amends the EB5 regulations listed in Immigration and Nationality (INA) Section 203(b)(5). Both forms are available for certain regional center cases. If applicable, they will be required for EB5 applications on or after June 2, 2022.
Appeal against USCIS for its interpretation of the EB-5 law
USCIS’ interpretation of the EB-5 law is not without consequences. It has triggered two cases (lawsuits) that are currently pending in the Federal Court for the Northern District of California.
Both lawsuits challenge USCIS’ interpretation of the EB-5 Reform and Integrity Act of 2022.
The first action is brought by Behring against the requirement by USCIS for the redesignation of regional centers. An initial hearing has opened. It is a hearing in which the judge will use his statutory interpretation power to decide whether or not USCIS had properly interpreted EB-5 in accordance with the intent of the statute as passed by the legislature.
A final decision has not yet been issued, but the court has asked the parties to file new briefs.
The second action was brought by a group of regional centers and the trade organization Invest in the USA (IIUSA) to prevent USCIS from continuing its interpretation of the EB-5 Reform and Integrity Act of 2022.
In any case, it is unlikely that either lawsuit will be completely successful because, according to Shah, Senator Chuck Grassley’s speech following RIA’s death explicitly called for the reauthorization of all regional centers.
Nonetheless, she says she hopes the two lawsuits provide a workable solution, such as allowing existing regional centers in good standing to file a certification, which she says would “allow foreign direct investment to continue to be invested in projects.”
What is the purpose of USCIS creating the Form I-956F and Form I-956G?
Form I-956F can only be filed by authorized regional EB5 centers. USCIS explained that the form is in some respects similar to the “model” Form I-924 filing under the previous program. The law requires Form I-956F for regional centers to seek approval for each specific investment offering through a new subsidiary.
The department explained that Form I-956G replaces Form I-924A in previous EB5 programs and rules that existed prior to the EB-5 Reform and Integrity Act of 2022.
EB5 immigrant investor applications are complex and evidence-rich. It is recommended that you consult with an experienced immigration attorney before beginning the EB5 visa application process.
Frequently Asked Questions
What are the filing fees for Form I-956F and Form I-956G?
The filing fee for Form I-956F is $17,795, but for Form I-956G, the fee is $3035.
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