In early October, 2013, Zhang and Attorneys received notice from USCIS of the approval of the designation of one of our client’s new regional centers. Filed in February of 2013, the regional center was approved in just eight months, one month under the average processing time reported by USCIS.

There are several key pieces of evidence that must be included with any I-924 application for regional center designation, and the failure to include any of these documents will likely result in a request for evidence. First, the regional center must prove that it will focus on a particular geographical location, which can be shown through the use of maps and by documenting the proposed industry sector in which the regional center will be located. Next, the application must provide evidence that the required fulltime jobs will be created by each investor investing in the regional center. Proof of such job creation includes economic impact reports, financial projections, SEC documents and offering documents including the Private Placement Memoranda, purchasers’ questionnaires, subscription agreements, limited partnership agreements and escrow agreements.In addition, the regional center’s business plan must be carefully crafted to address the job creation requirement and to ensure compliance with Matter of Ho.

The I-924 application should include the regional center’s organizational documents, including copies of the certificate of filing, employment identification number from the IRS, the consent to action regarding the formation of the regional center, the company’s regulations, and a description of all key members of the regional center.The I-924 documents should also carefully detail the business structure of the new commercial enterprise created by the regional center using articles of incorporation, investment agreements, escrow agreements, offering letters, certificates, licenses, and contracts, agreements or memoranda made with other organizations that will carry out activities on behalf of the regional center.

In Fiscal Year 2010, USCIS reported receiving 152 I-924 applications, of which 78 were approved and 41 were denied, resulting in an approval rate of only 51% for that year. In 2011, USCIS reported receiving 278 I-924 applications and approved 123 of these regional centers and denied 58 of these regional centers.Thus, the approval rating for 2011 dropped to only 44%.

According to IIUSA, the Association to Invest in the USA, a national membership-based 501(c)(6) non-profit industry trade association for the EB-5 Regional Center Program, USCIS has received 325 I-924 applications in the first and second quarters of this fiscal year, and has approved 65 regional centers and denied 13 regional centers during this time period. Thus, the approval rate for this time period is as low at 20%.

Zhang and Attorneys has helped our clients to achieve the approvals of their regional centers and to be included in this small percentage of approved I-924s. If you are considering applying for I-924 Regional Center designation, please contact us at info@hooyou.com. Our attorneys have the experience and resources needed to help you to secure the successful and timely approval of your regional center.

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Founded in 1996, Zhang & Associates, P.C. offers legal services to clients nationwide in all aspects of U.S immigration law. We have successfully handled thousands of immigration cases.

At Zhang & Associates, P.C., our attorneys and supporting professionals are committed to providing high-quality immigration and non-immigration visa services. We specialize in NIW, EB-1, PERM, and I-485 cases. In the past seventeen years, we have successfully helped thousands of clients get green cards. If you plan to apply for a green card, please send your CV to Attorney Jerry Zhang (info@hooyou.com) for a free evaluation.

Zhang & Associates, P.C.

Silicon Valley • New York • Los Angeles • Chicago • Houston • Austin • Seattle

Tel:	1-800-230-7040, 713-771-8433
Email:	info@hooyou.com
website:	http://www.hooyou.com

 

(10/17/2013)