The following list of resources is provided by GCF for anyone who wants to learn more about the EB-5 program. In case your browser does not support inline PDF files, links to source documents are provided below for your convenience.
Statutes and Regulations
Statute as amended INA § 203 (b)(5); 8 USC § 1153 (b)(5)
Federal Regulation 8 CFR § 204.6
Federal Regulation 8 CFR § 216.6
Precedent AAO Cases
Matter of Soffici, 22 I&N Dec. 158 (Assoc. Comm'r 1998)
A loan secured by the assets of the commercial enterprise does not qualify as "at risk"; the investor's personal guarantee of payment does not change the character of the mortgage, as the assets of the enterprise are still primarily securing the mortgage.
Matter of Izummi, 22 I&N Dec. 168 (Assoc. Comm'r 1998)
As investor may not enter into a redemption agreement with the commercial enterprise any time prior to completing all of his cash payments under a promissory note, and in no event may the investor enter into a redemption agreement prior to the end of the two-year period of conditional residence; an investor may not make material changes to a petition that has already been filed in an effort to make a deficient petition conformed to EB-5 requirements.Matter of Ho, 22 I&N Dec. 201 (Assoc. Comm'r 1998)
Investor must establish through supporting documentary evidence that he has placed his own capital at risk and that he acquired legal ownership of the investment capital through lawful means.Matter of Hsiung, 22 I&N Dec. 206 (Assoc. Comm'r 1998)
Promissory note secured by assets owned by a petitioner can constitute a proper capital investment if the assets are specifically identified as securing the note, and the security is perfected to the extent privided for by the jurisdiction in which the assets are located, and the assets are fully emenable to seizure by a U.S. note holder.USCIS Guidance Memoranda
USCIS Memorandum, A. Mayorkas - "A Work in Progress: Towards a New Draft Policy Memorandum Guiding EB-5 Adjudications" - November 9, 2011
USCIS Memorandum, D. Neufeld - "Adjudication of EB-5 Regional Center Proposals and Affiliated Form I-526 and Form I-829 petitions; Adjudicator's Field Manual (AFM) Update to Chapters 22.4 and 25.2 (AD09-38)" - December 11, 2009
USCIS Memorandum, D. Neufeld - "EB-5 Entrepreneurs - Job Creation and Full-Time Positions (AFM Update AD 09-04)" - June 17, 2009
USCIS Memorandum, W. Yates - "Establishment of an Investor and Regional Center Unit" - January 19, 2005
USCIS Memorandum, W. Yates - "Amendments Affecting Adjudication of Petitions for Alien Entrepreneur" - June 10, 2003
Legacy INS Memorandum, M. Pearson - "EB-5 Field Memorandum No. 9: Form I-829 Processing" - March 3, 2000
Procedural Steps
Form I-526, Immigrant Petition by Alien Entrepreneur
Form I-526 Instructions
Form G-1145, Electronic Notification of Application/Petition Acceptance
Form I-485, Application to Register Permanent Residence or Adjust Status
Form I-485 Instructions
Form I-829, Petition by Entrepreneur to Remove Conditions
Form I-829 Instructions
Form I-131, Application for Travel Document
Source and Path of Lawfully-Obtained Investment Funds
8 CFR § 204.6 (j)(3)
States that in order for the petitioner to show that he or she is actively investing capital obtained by lawful means, the I-526 petition must be accompanied by one of the following four items:- Foreign business registration records;
- Corporate, partnership, or similar business entity, and personal tax returns including income, franchise, or property tax filed within 5 years with any taxing jurisdiction in or outside the U.S.;
- Evidence identifying any other source of capital; or
- Certified copies of judgments or evidence of all pending governmental civil or criminal actions, governmental administrative proceedings, and any private civil actions involving monetary judgments against the petitioner from any court in or outside the United States within the past 15 years.
8 CFR § 103.2 (b)(3)
States that all supporting documents that are not in English must be accompanied by a certified English translation.
