EB-5 Regional Center program is scheduled to sunset on September 30, 2018. Here are some updates to keep in mind:
Non-Regional Center EB-5 Has No Sunset.
It is important to remember that only the EB-5 Regional Center Program has a sunset date. If only direct job creation is requested by a client (non-Regional Center), then normal USCIS case processing will continue.
The “U” in the October 2018 Visa Bulletin Means “Unavailable”
Because the Regional Center program is currently set to expire on September 30, 2018, the October 2018 Visa Bulletin reports that EB-5 visas are “Unavailable” for Regional Center investors. This is characterized as “U” on the Visa Bulletin. Note the following differences between the September 2018 Visa Bulletin and the October 2018 Visa Bulletin:
USCIS Processing of Regional Center Affiliated Petitions (I-924, I-526 & I-829)
USCIS has not issued any recent guidance on the processing of Regional Center-affiliated cases if the program sunsets before an extender is passed. However, the following framework obtained from 2009 USCIS guidance is likely to be instructive:
- USCIS will continue to receive, process, and adjudicate Regional Center affiliated forms until the close of business on the scheduled sunset date.
- Unless the program is extended, USCIS will hold unadjudicated Regional Center proposals (I-924) and Regional Center affiliated I-526 petitions that were received before the sunset in abeyance for an indeterminate period, pending further action by Congress.
- Forms I-829, Petition by Entrepreneur to Remove Conditions, whether affiliated with a Regional Center or not, are unaffected by the sunset of these provisions.
Source: AILA Doc. No. 18092437.