On March 17, 2009, we filed a petition for conditional residency (I-526) on behalf of a client who invested in a USICS approved “Regional Center.” The petition was approved in less than one month! Our client and her children will now now proceed to a US consulate abroad to apply for conditional residency.  Current reports indicated processing times of approximately 7 months so we were pleasantly surprised by this quick turn around.   

Obtaining a greencard by investing in a Regional Center is not for everyone, but it is an excellent option for certain individuals. There are a number of foreign nationals who want to live in the United States but who do not want to work or run a business here.  They may have family members such as a permanent resident spouse, US citizen parent, or a sibling who could petition for them but the wait time for an immigrant visa is completely unacceptable.  For these individuals, an investment in a USCIS approved Regional Center is an excellent solution. This program allows the foreign national/investor:

• To come to the US without having to work or run a business
• To live anywhere in the United
• To travel in an out of the United States freely
• To obtain a green card for him/herself and his or her spouse and unmarried children, under 21

The foreign national must invest the specified amount of money — either $500,000 or $1,000,000 in a US government-approved “Regional Center.”  The money will typically be held in escrow until the petition for conditional residency is approved.  The average processing time is about 7 months.  Once the petition is approved, the funds are released to the Regional Center and the foreign national may apply for conditional permanent residency. 

If you think you are interested in pursuing residency through the Regional Center program please call to speak with us.  We would be happy to provide additional information.

Tags: EB5, EB5 Immigrant Investor Program, Regional Center
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