Manhattan Regional Center

+ November 18th, 2022Utopia Living Luxury Apartment Project: I-956F Project Application Filed

We are very happy to report that the Form I-956F, Application for Approval of an Investment in a Commercial Enterprise, for our Utopia Living Luxury Apartment Project arrived at the USCIS Office today, on Friday, November 18 (this morning). Thank you very much for your patience while our counsels and our team worked hard to prepare a very comprehensive package to update this project, which took more time because it had accepted investors at the $900,000 and $500,000 levels. We are very pleased that we now have a very well-prepared package for our investors.

In accordance with the Settlement Agreement for the 2 recent EB-5 cases, investors in the Project can file their individual I-526E petitions 10 calendar days after I-956F Form has been physically delivered to USCIS office. As such, investors can have their I-526E petitions arrive as early as Monday, November 28^th, 2022, for this project.

Please let us know when you need the I-526E template for investors who are ready to file. Hope all interested investors will complete their source of funds to wire and file their I-526E petitions soon!

+ September 7th, 2022D.C. Court Lawsuit on SOF Adjudication Update

On September 7, 2022, IIUSA filed a Complaint against USCIS in the U.S. District Court for the District of Columbia. Plaintiffs brought this action under the Freedom of Information Act (“FOIA”) to compel United States Citizenship and Immigration Services (“USCIS”) to comply with a FOIA request filed by Plaintiff relating to USCIS’s policies and practices in adjudicating source-of-funds issues. The request was filed by IIUSA back on July 18, 2022, and USCIS failed to respond to it. As the Complaint alleges, the records requested in IIUSA’s July 18, 2022 FOIA request are critical to IIUSA’s ability to properly educate its members on current USCIS policy and practice with respect to the adjudication of source-of-funds issues, as well as how (if at all) those policies have changed over time.

Please click here to read IIUSA’s article on the matter.

+ September 2nd, 2022USCIS Seeks Comments on Forms I-526, I-526E, I-956, I-956F, I-956G, I-956H, I-956K: First Draft Published for Form I-956K, Registration for Direct and Third-Party Promoters!!!

The industry had been anxiously waiting for Form I-956K to be published so that agents and promoters know what is required for them to register with USCIS. Finally, this form is published today (on September 2, 2022) in the Federal register as a draft, along with the draft form instructions. The notice invites the general public and other Federal agencies to comment on Form I-956, Application for Regional Center Designation; Form I-956F, Application for Approval of an Investment in a Commercial Enterprise; Form I-956G, Regional Center Annual Statement; Form I-956H, Bona Fides of Persons Involved with Regional Center Program; and Form I-956K, Registration for Direct and Third-Party Promoters. Comments are encouraged and will be accepted for 60 days until November 1, 2022. Please click here to read a notice in the Federal Register, where you can find draft forms and forms’ instructions.

As we had informed you before, on August 23, 2022, the USCIS published a notice in the Federal register inviting the general public and other Federal agencies to comment on Form I-526, Immigrant Petition by Standalone Investor, and Form I-526E, Immigrant Petition by Regional Center Investor. Comments are encouraged and will be accepted for 60 days until October 24, 2022. Please click here to read a notice in the Federal Register.

Key points to note in the Draft Form I-956K & Draft Form I-956K Instructions:

– No filing fee – Form I-956K “should” (not “must”) be submitted prior to operating or promoting an EB-5 offering

– “Each person acting as a direct or third-party promoter (including migration agents)” of a regional center, NCE, JCE, or issuer of securities is required to file Form I-956K with USCIS.

– The applicant must list & submit a copy of all written agreements entered into with regional centers, NCEs, JCEs, or issuers of securities

– USCIS may require the applicant to appear for an interview or provide biometrics (fingerprints, photograph, and/or signature) at a USCIS Application Support Center or U.S. Embassy/Consulate/Office overseas.

– USCIS may use your biometrics to obtain the criminal history records of the FBI for identity verification, to determine eligibility, to create immigration documents or any purpose authorized by the Immigration and Nationality Act. The form instructions included the following link to obtain a copy of your own FBI record: https://www.fbi.gov/services/cjis/identity-history-summary-checks.

+ September 1st, 2022Behring & DC. Lawsuits Update: Settlement Approved

On Thursday, September 1, Judge Chhabria signed an Order Granting Approval of Stipulation of Settlement, which approved the Stipulation of Settlement that the parties filed on August 24, 2022 for the 2 EB-5 cases (Behring Regional Center LLC v. Alejandro Mayorkas, et al. and EB5 Capital, et al. v. United States Department of Homeland Security, et al.). Both cases are now dismissed with prejudice, and the cases are now closed. The Court retains jurisdiction to adjudicate any claim for enforcement of the Settlement Agreement.

Below is our summary of the key points of the Settlement Agreement:

I. Previously Approved Regional Centers Retain Designation, Subject to Filing Form I-956 by December 29, 2022, as an Amendment

– Regional centers approved prior to the enactment of the EB-5 Reform and Integrity Act of 2022 (RIA) are not categorically deauthorized as USCIS announced in April. However, such regional centers must file Form I-956, Application for Regional Center Designation, by December 29, 2022, as an amendment, in order to continue to maintain their status as an approved regional center for purposes of sponsoring new projects and new investors under RIA.

– Previously Approved Regional Centers and investors in projects sponsored by Previously Approved Regional Centers will not need to wait for their Form I-956 to be approved prior to filing and receiving adjudications from USCIS on any other Forms. However, if the Regional Center proposes to expand its geographic area greater than previously approved, the regional center may only be able to continue to operate in its previously approved geographic area until the Form I-956 Amendment approves the geographic area expansion.

II. Previously Approved Regional Centers May Immediately File Project Applications (Form I-956F) and USCIS Must Thereafter Accept Investor Petitions

– If a Form I-956F receipt notice is not issued within 10 calendar days of “physical delivery of the filing” to USCIS, USCIS will accept the following, after which Forms I-526E associated with the filed Form I-956F can be filed immediately:

— The lockbox notice (i.e., payment receipt letter) along with “a copy of at least the first six pages of the filed Form I-956F (Parts 1-5) for purposes of providing ‘the receipt number of the regional center’s Form I-956F”

— Proof of the filing fee’s “cashed check or credit card charge (along with regional center name, new commercial enterprise name, job creating entity name if available, and approximate Form I-956F filing date)”

III. Previously Approved Regional Centers Will Be Governed by the RIA

– Persons involved with a regional center, new commercial enterprise, or job­ creating entity will file an I-956H, Bona Fides of Persons Involved with Regional Center Program, for each entity with which they are involved for submission with any related form as applicable.

– USCIS will continue to process and adjudicate I-526 and I-829 petitions from investors filed prior to RIA (as well as future I-829 petitions based on I-526 petitions filed prior to RIA), even if the regional center with which their project was approved does not file a Form I-956 application or amendment by December 29, 2022. – New forms issued since the RIA will be deemed interim until notice-and-comment rulemaking is undertaken by USCIS.

IV. Implementation

– By December 1, 2022, USCIS will amend any Forms and accompanying instructions to adhere to the terms of the Settlement Agreement.

– Within 21 days following the effective date of the Settlement Agreement: USCIS will update its guidance on the agency website, in Frequently Asked Questions, and in any public forum as to the current requirements as set forth in the Settlement Agreement.

– For at least 2 years following the effective date of the Settlement Agreement: Plaintiffs and Defendants will confer on “at least a quarterly basis to discuss implementation of this Settlement Agreement and matters pertaining to the implementation.”  

Having quarterly meetings with USCIS is a great achievement that should lead to greater likelihood of success in implementation of the Settlement Agreement and to address unforeseen issues with implementation.

+ August 22nd, 2022MRC Received I-956F Receipt Notice for the Manhattan 11th Ave Marriott Tribute Portfolio Hotel Project

We are extremely happy to report that we have received our I-956F Formal Receipt Notice today, on August 22, 2022,  for the Manhattan 11th Ave Marriott Tribute Portfolio Hotel Project (11th Ave Tribute Project). As such, our investors in this project can start filing their I-526E petitions TODAY!!!

Please note that this receipt notice is currently required per USCIS guidance issued on July 12th with the newly released Form I-526E, Immigrant Petition by Regional Center Investor.

Our 11th Ave Tribute Project construction team poured the top floor (52nd) in August 2021. Currently, exterior and interior construction work are ongoing. As of June 30, 2022, 1604.42 jobs have already been created.

Spots are nearly filled up for this project and are being secured on a first-come-first-served basis by date of wiring. We are here to help in any way possible to help all interested investors complete all the documentation needed to submit their I-526E filings as soon as possible!

+ August 19th, 2022Behring & D.C. Lawsuit Update: Hearing on the Contempt Motion

On Thursday, August 18, the motion hearing for the Motion to Show Cause for Civil Contempt and to Enforce Preliminary Injunction (“Contempt Motion”) was changed from a court hearing to a Zoom conference at 1:30pm PST. While this hearing was originally set in an attempt for the Judge to rule on the Contempt Motion, the parties informed Judge Chhabria that they were in the middle of settlement negotiations and were in the process of reaching a settlement agreement that should happen as early as that day. As such, they requested that the Judge would hold his clarification questions and not rule on the Contempt Motion to “bring up the heat” (as the Defendant/USCIS’ attorney put it) until they submit the settlement agreement to the judge. In light of these circumstances, the Judge and the parties agreed to postpone the motion hearing to next Wednesday. If a settlement is reached before the next hearing, as the parties suggested would happen, and the Judge approves such settlement without the need to ask any clarification questions, then the Contempt Motion may be dismissed, and the case would be settled.

We can see that USCIS does not want to be charged with Contempt, and that they are really trying to make an effort to settle before Wednesday. It appears that an amicable settlement is very close to being reached by the parties, which is a wonderful sign that regional centers may be able to start operating normally again next week. We hope that this means that our investors can start filing next week!

For your reference, the next motion hearing is currently scheduled to be held next Wednesday, August 24 at 1:00PM PST via Zoom at this link.

Webinar ID: 161 285 7657

Password: 547298

+ August 8th, 2022D.C. Court Lawsuit on EB-5 Visas Allocation (BO et al v. BLINKEN et al)

On August 5, 2022, Chinese foreign national plaintiffs filed a complaint against USCIS and the U.S. Secretary of State in the U.S. District Court for the District of Columbia. The case was assigned to Judge Tanya S. Chutkan. Plaintiffs allege that EB-5 immigrant visas that were allocated for 2022 should be distributed to Plaintiffs by September 30, 2022, and that Plaintiffs’ immigrant visa applications should be processed immediately. They allege that if action is not taken, about 11,000 immigrant visas that otherwise would be available to Mainland China investors, would be wasted by September 30, 2022 (end of 2022 fiscal year).

Please click here to read eb5investors article on the matter.

+ August 5th, 2022Delayed Issuance of Form I-956F Formal Receipt Notices

Please note that we and, as far as we know, the entire EB-5 industry, are waiting for USCIS to issue I-956F formal receipt notices, which is currently required per USCIS guidance issued on July 12th with the newly released Form I-526E.

To date, we and others have only received a letter confirming receipt of the Form I-956F’s $17,795 filing fee. This payment receipt letter states that “USCIS will issue a formal receipt notice which will include the assigned receipt number for this application when data entry has been completed.” It appears that USCIS is taking an unreasonably long period of time to complete “data entry.”

We understand that efforts have been taken by AILA and IIUSA to urge USCIS to issue formal receipt notices promptly or change their guidance to comply with the “filing” requirement of the EB-5 Reform and Integrity Act of 2022 (“RIA”). The current delay in issuing formal receipt notices is in violation of the June 24th preliminary injunction, which states in part that existing EB-5 regional centers “must presently be permitted to operate within the regime created by the [EB-5 Reform and Integrity] Act [of 2022]. This includes processing new I-526 petitions from immigrants investing through previously authorized regional centers” (See Behring Reg’l Ctr. v. Mayorkas, 22-cv-02487-VC, 12 (N.D. Cal. Jun. 24, 2022)).

+ July 14th, 2022Behring & D.C. Lawsuit Update: Initial Case Management Conference

On July 14, 2022, the initial case management conference was held in the Behring lawsuit, where Judge Chhabria granted IIUSA’s motion to intervene and decided to keep both cases, Behring case and D.C. case, related, but separate. The motion for summary judgment or in the alternative, summary adjudication, hearing is set for September 8.

+ July 12th, 2022USCIS Releases New Forms: Form I-526 and Form I-526E

On Tuesday, July 12, USCIS released two new forms to reflect the requirements of the EB-5 Reform and Integrity Act of 2022 (RIA): Form I-526, Immigrant Petition by Standalone Investor and Form I-526E, Immigrant Petition by Regional Center Investor. The filing fee is $3,675 for each form. A separate biometric services fee of $85 is also required for each petitioner submitting an initial I-526E petition. For investors who file Form I-526E on or after Oct. 1, 2022, an additional $1,000 is required by the RIA.

Instead of receiving 1 filing receipt notice from USCIS like before, properly filed I-526 and I-526E petitions will receive 2 separate receipt notices. First notice will be from USCIS Lockbox, acknowledging receipt of your I-526 or I-526E and the total fee amount received and processed. The second notice will be a formal receipt notice with the receipt number.

According to the USCIS release announcement, investors cannot file Form I-526E until the regional center has received a receipt notice to confirm filing of Form I-956F for the particular investment offering that the investor is investing in.

+ July 8th, 2022Behring and D.C. Lawsuits Update: D.C. Lawsuit Transferred to the Northern California District Court

On July 5, 2022, the court in the D.C. lawsuit ordered to transfer the case to the U.S. District Court for the Northern District of California to be consolidated with the Behring lawsuit since both lawsuits have the same subject matter.

On July 6, the D.C. lawsuit against the USCIS has been referred to Judge Chhabria for consideration of whether the case is related to the Behring lawsuit.   We hope that the two cases will be consolidated together and help move the case forward for a very favorable summary judgement for the EB-5 industry.

The next hearing in the case is set for next Thursday, July 14 at 2:30PM PST (5:30PM EST) via Zoom. The initial case management conference will be held to discuss next steps in the litigation and IIUSA’s Motion to Intervene (request to convert from amicus curiae into Plaintiff in the case) will be considered.

+ July 1st, 2022Behring Lawsuit Update: I-526 Petitions Can Be Filed Immediately After I-956F Project Application Filing

On the evening of Friday, June 24, Judge Vince Chhabria issued an Order Granting Plaintiff’s Motion for a Preliminary Injunction (“Order”),  which stated that USCIS is “enjoined from treating the existing regional centers as deauthorized while this litigation is pending (or until the agency engages in a reasoned decision-making process regarding how to treat these centers under the Integrity Act)” (emphasis added) and that previously authorized Regional Centers “must presently be permitted to operate within the regime created by the Act” (Reform and Integrity Act of 2022, or “Act” for short), which includes “processing new I‑526 petitions from immigrants investing through previously authorized regional centers.”

On Thursday, June 30, IIUSA held a webinar featuring its attorneys who represented this case and helped save the EB-5 industry: Attorney Paul Hughes and Attorney Ron Klasko. They confirmed that Form I-956 (Application for Regional Center Designation) does not need to be filed at this point, since all previously approved regional centers are authorized again to operate. They also stated that any potential challenges by USCIS to try to enforce that may not be successful until at least 1 year later. They reiterated that at this time, Form I-956F (Application for Approval of an Investment in a Commercial Enterprise) should be filed that demonstrates compliance with the Act before I-526 petitions can be filed.

Please note that the lawsuit is not finalized, and the preliminary injunction will remain in place either until the ruling on summary judgment is issued or until USCIS issues a guidance or a regulation on how the regional centers should be treated.

+ June 29th, 2022D.C. Lawsuit Update: Further Actions

On Wednesday, June 24, the court granted the U.S. Chamber of Commerce’s motion for leave to file amicus curiae brief in support of Plaintiffs’ motion for a preliminary Injunction or summary judgment.

Since the preliminary injunction has been granted in the Behring case, the judge in this case requested if the parties are still seeking the preliminary relief in this case, and if not, if they would be willing to transfer this action to the U.S. District Court for the Northern District of California, where the Behring lawsuit is currently being litigated.

On Wednesday, June 29, both parties to the case filed their responses, and we will continue to follow this case to see if it will be moved to the Northern California District Court.

+ June 24th, 2022Behring Lawsuit Update – Preliminary Injunction Granted for EB-5 Industry

On June 24, the preliminary injunction ruling on the Behring lawsuit came out – THE INDUSTRY WON! Judge Vince Chhabria ordered that previously authorized Regional Centers “…must presently be permitted to operate within the regime created by the [Reform and Integrity] Act [of 2022].”

As such, all previously authorized Regional Centers can now resume assisting investors with their EB-5 investments per the Order. Our attorneys are already at work assisting us to amend our project documents so that they reflect this ruling so that investors can file their I-526 petition as soon as possible. We recommend all investors immediately reach out to their migration agents and immigration attorneys to help them finish preparing their SOF packages and secure a spot in one of our projects ASAP.

+ June 23rd, 2022D.C. Lawsuit Update – Motion for Preliminary Injunction Filed

Last Friday, June 17, the parties were ordered by the court to meet and confer and to submit a Joint Status Report by June 22 to propose a schedule for briefing Plaintiffs’ Motion for Preliminary Injunction or Summary Judgment (filed on June 16).

On Wednesday, June 22, Defendants in the case filed a Joint Status Report, and on Thursday, June 23, the U.S. Chamber of Commerce petitioned the court to file an Amicus Curiae Brief in support of the Plaintiffs’ Motion for Preliminary Injunction or Summary Judgement.

+ June 21st, 2022Behring Lawsuit Update – USCIS’ Opposition to IIUSA’s Motion to Intervene

On Tuesday, June 21 evening, USCIS filed an Opposition to IIUSA’s Motion to Intervene (“Opposition”). The Defendants argue that IIUSA failed to establish intervention is appropriate either as of right under Federal Rule of Civil Procedure 24(a) or permissively under Rule 24(b), because IIUSA has failed to demonstrate that:

1. its motion to intervene is timely;

2. its ability to protect its interest would be impaired – IIUSA’s participation in the D.C. lawsuit and this case shows that it is not restricted to only this forum or this case to protect its interests;

3. its interests would be inadequately represented by the Plaintiff in this matter; and

4. its intervention would not cause prejudice to the existing parties.

+ June 6th, 2022Behring Lawsuit Update – IIUSA Motion to Intervene

On Monday, June 6, IIUSA also filed a Motion to Intervene to convert its status from that of amicus to that of plaintiff-intervenor. According to the motion, it has become clear that intervention is necessary to protect the interests of IIUSA’s members, which constitute over one hundred leading regional centers. IIUSA notes that relief specific to plaintiff Behring Regional Center would affirmatively harm IIUSA’s members by creating a legal monopoly for Behring that would divert investment dollars away from other regional centers and dilute their market share above and beyond the harm caused by USCIS’s categorical deauthorization of the industry as a whole. IIUSA seeks to intervene to protect the interests of its members and the EB-5 industry for which it advocates.

A hearing about IIUSA’s motion to intervene has been scheduled for Thursday, July 14 at 2:30PM PST (5:30PM EST) to be held over Zoom.

+ June 6th, 2022Behring Lawsuit Update – Supplemental Briefs Filed

On Monday, June 6, Plaintiff, Defendant, and IIUSA timely filed supplemental briefs with their views of the appropriate remedies. According to Plaintiff’s Supplemental Brief, the following preliminary relief should be granted:

– The USCIS’s deauthorization of regional centers as of April 20, 2022, including the announcement on the USCIS website, USCIS guidance, and new forms (I-956, I-956F, I-956G, I-956H, I-526E) issued by USCIS, be vacated pending any further order of the Court.

– Defendants, including and through USCIS, be enjoined from refusing to recognize the designation and licensure of any regional center that had been approved prior to March 15, 2022 pending further order of this Court.

– Defendants, including and through USCIS, be compelled to accept new I-526 petitions sponsored by a previously authorized regional center, including any approved I-924 exemplar petition filed before March 15, 2022, pending further order of this Court.

In Defendants’ Supplemental Brief, Defendants argue that the public interest factors favor denying Plaintiff’s motion and that the preliminary injunction should be limited only to a Plaintiff.

In IIUSA’s Supplemental Brief, IIUSA states that relief should not be limited to the parties before the court, and USCIS’ action (deauthorization of regional centers) should be set aside (suspended or stayed) by the court to benefit EB-5 marketplace as a whole, not limited solely to Behring. If the Court elects to grant a narrower interim remedy, IIUSA will ask the Court to at least provide relief for its members.

+ June 2nd, 2022USCIS Releases New Forms: Form I-956F and Form I-956G

On June 2, 2022, USCIS published 2 new forms related to the EB-5 Regional Center Program:

Form I-956F, Application for Approval of an Investment in a Commercial Enterprise

USCIS notes that Form I-956F should be used by the regional center designated after May 14, 2022, to request approval of each particular investment offering through an associated new commercial enterprise.   A designated regional center can file Form I-956F any time after designation to request approval of a project. A regional center must file an application for its project(s) prior to individual EB-5 investors filing an immigrant visa petition (Form I-526E, Immigrant Petition by Regional Center Investor, which is the next form that USCIS will be releasing to replace the current Form I-526).   Each Form I-956F may only include one commercial enterprise and requires a filing fee of $17,795.

Form I-956G, Regional Center Annual Statement

This form replaces the previously used I-924A for regional center annual certification.   USCIS notes that Form I-956G is to be used by regional centers approved after May 14, 2022. to provide required information, certifications, and evidence to support their continued eligibility for regional center designation.   Each approved regional center must file this form for each Federal fiscal year (October 1 through September 30) on or before December 29 of the calendar year in which the Federal fiscal year ended.

+ June 2nd, 2022Behring Lawsuit Update – Second Preliminary Injunction Hearing

On Thursday, June 2, 2022, the preliminary injunction hearing for the Behring lawsuit against the USCIS was held in person with audio available via Zoom for approximately 3 hours.

Throughout the hearing, Judge Chhabria seemed to be conveying how impractical and inappropriate it is to require existing regional centers to be redesignated and stop them from accepting new investments (sponsoring new I-526 petitions). He noted that it seemed important for Congress that previously filed I-526 petitions are adjudicated and regional centers need to be involved in the process. USCIS argued that regional centers have a fiduciary duty to still respond to requests for evidence, but the Judge wisely argued with him that if a regional center is out of business, they cannot practically fulfill such fiduciary duty.

Judge Chhabria stated that he was unsure whether he had authority to provide interim relief that can extend to all other regional centers. He said that USCIS may decide that it will require all regional centers to be redesignated again, but this time, USCIS can no longer do so by asserting that the EB-5 Reform and Integrity Act of 2022 (“RIA”) required preexisting regional centers to be redesignated again, because the Judge believes that USCIS made a legal error by doing so. USCIS should go through the proper rulemaking process before doing so.

Judge Chhabria was ready to rule in favor of the Plaintiff and also to turn the green light back on for all regional centers and allow new I-526 submissions under pre-existing regional centers as long as he had authority to do so. Judge Chhabria asked Plaintiff’s attorney, who seemed confident that the judge had authority to do so, to provide a brief on this by Monday, June 6.

+ May 24th, 2022New Lawsuit Against USCIS Filed

On May 24, IIUSA and five regional centers filed a complaint against the USCIS in the District Court for the District of Columbia. Plaintiffs request the court to set aside USCIS’s categorical deauthorization of preexisting approved regional centers and to declare that the EB-5 Reform and Integrity Act of 2022 (“RIA”) does not permit USCIS to categorically deauthorize preexisting approved regional centers and that USCIS’s determination was arbitrary and capricious. According to the complaint, the agency’s action was not authorized by the statute’s text, and its promulgation without any reasoning via a website post does violence to fundamental principles of administrative law. The agency’s action threatens innovative and economically significant projects, frustrates foreign investment in the United States, and precludes the creation of thousands of American jobs.

Please click here to read eb5investors article and please click here to read IIUSA’s article on the lawsuit.

+ May 13th, 2022Form I-956 and Form I-956H Published

On May 13, 2022, USCIS published the Form I-956, Application for Regional Center Designation on its website along with form instructions. USCIS notes that the Form I-956 should be used to request for USCIS designation as a regional center or to request an amendment to an approved regional center. After Form I-956 is approved, regional centers will need to file a project application and receive a receipt number for that application before new investors can file their I-526 petitions.

USCIS also published the Form I-956H, Bona Fides of Persons Involved with Regional Center Program, which is to be completed and submitted to supplement Form I-956 for each person involved with the regional center.

There is no information provided on processing times for the above two forms. We hope that USCIS will formally present this information soon. MRC will be filing the abovementioned forms in the coming days, so that our investors will be able to file their I-526 petitions as soon as possible.

+ May 10th, 2022Behring Lawsuit Against USCIS: Preliminary Injunction Hearing

On Tuesday, May 10, 2022, the preliminary injunction hearing for the Behring lawsuit against the USCIS was held via Zoom conference. The letter from Congressional leaders from May 9, 2022, which we have sent you earlier in the week, was presented in the case; however, Judge Vince Chhabria did not give much deference to it. Defendant’s attorney (Attorney Josh Press) in the case mentioned that it is Congress’ intent that both the EB-5 case adjudications and regional center designations should be done under 180 days in the EB-5 Reform and Integrity Act of 2022 (“RIA”) but could not find the exact provision which would state that. The judge was trying to understand if there would be a distinction between the existing regional centers and the newly designated ones based on how fast the redesignation will take place but was told there was no distinction in the new law.

Judge Chhabria questioned whether there would be any difference in postponing the ruling after May 14, 2022 (when the Regional Center Program was set to reopen per the RIA) and 2 weeks later, after additional supplemental documentation were presented. Plaintiff’s attorney (Attorney Michael Sklaire) did not seem to prove irreparable harm if the Judge delayed his decision. Thus, the Judge requested the defendant (USCIS) to present supplemental documentation by May 18, and the plaintiff by May 23. Judge Chhabria said that he would have a decision by the first half of June 2022.

+ May 9th, 2022Congress Clarifies Legislative Intent in the EB-5 Reform and Integrity Act of 2022

On Monday, May 9, 2022, Congressional Leaders issued a letter to USCIS, which stated that requiring regional centers to go through a process to be redesignated is not required under the EB-5 Reform and Integrity Act of 2022 (“RIA”). The letter also stated that USCIS’ interpretation of the RIA and current guidance are confusing and has caused great concern in the EB-5 stakeholder community.

+ April 22nd, 2022Reactions to USCIS’ April 11 Alert on Regional Centers Redesignation

On April 11, 2022, USCIS posted an Alert on its website regarding previously designated regional centers being no longer authorized and having to seek for designation under the new program as passed by the EB-5 reform bill. Subsequent to this Alert, IIUSA submitted a letter to USCIS on April 18, and a lawsuit was filed against USCIS in the Northern District Court of California on April 22 to challenge the abovementioned USCIS Alert.

Please click here to read IIUSA’s article and here to read eb5investors’ article regarding the lawsuit.

+ March 15th, 2022EB-5 RC Program Reauthorized Until 2027

On March 15, 2022, President Biden signed the omnibus appropriations bill H.R. 2471 – Consolidated Appropriations Act, 2022 which includes the EB-5 reform bill, titled the “EB-5 Reform and Integrity Act of 2022,” into law.

While we hoped and many people tried to fight like us for a $500K window, the EB-5 Reform and Integrity Act of 2022 does not provide for such an opportunity. It also does not provide for relief to the visa backlog faced by investors from Mainland China, which we will continue to advocate for.

We are disappointed that the increase in minimum investment amounts provisions would take effect on the date of enactment of the Act, while the Regional Center Program reauthorization through September 30, 2027, will take effect 60 days after enactment of the Act. As such, new I-526 petitions cannot be filed until 60 days after March 15, 2022 (i.e., May 14, 2022).

However, we applaud everyone for their efforts to achieve a 5-year reauthorization of the EB-5 Regional Center Program, which will provide stability to the industry for the next 5 years and includes integrity measures and changes to the RC Program that will have significant positive impact for investors and the industry.

+ December 17th, 2021MRC Receives I-829 Award from IIUSA

Our regional center has been verified to receive the award:

+ June 30th, 2021EB-5 Regional Center Program Lapse

On June 30, 2021, the EB-5 Regional Center Program has lapsed, because it has not been reauthorized.

At this point, MRC will be devoting ourselves to lobbying efforts in hopes to help secure reauthorization of the EB-5 Regional Center Program as soon as possible. We believe that the EB-5 Regional Center Program is the best visa for the United States. If EB-5 is properly done (the way the Program was intended to), it is a win-win-win solution for 1) the U.S. government to build the U.S. economy, 2) investors who want to immigrate to the U.S., and 3) honest and capable developers who find it beneficial to use EB-5 capital.

We believe that reauthorization will happen; it is just a matter of when it will happen. By dedicating ourselves to the lobbying efforts, we hope we can have a hand in making this happen more quickly.

+ June 22nd, 2021EB-5 Immigrant Investor Program Modernization Final Rule Vacated

On June 22, 2021, the judge in the Behring lawsuit issued an Order to vacate the EB-5 Immigrant Investor Program Modernization final rule, which became effective on November 21, 2019. This means that the minimum EB-5 investment for TEA projects is back to $500K immediately.

It is likely that due to the outcome of this lawsuit, Congress will let the EB-5 Regional Center Program lapse while it finalizes and passes a comprehensive EB-5 reform bill that will most likely include increasing the minimum investment amount again. As such, for investors who want to invest at the $500K, this may be the last chance for them to do so prior to June 30th!

+ June 16th, 2021MRC Speaks at IIUSA Webinar on East Asia

On Wednesday, June 16, 2021, Manhattan Regional Center was one of the sponsors and panelists at IIUSA’s Investor Market Webinar Series East Asia. Mr. Alvin Wong, our Chief Operating Officer, spoke about updates and opportunities for the EB-5 Regional Center Program, including reauthorization efforts, post-COVID and project outlook, and investor demographics. Mr. Wong shared about his recent travel to Asia and reassured attendees that he sees a strong demand for EB-5 not only in the Asian countries, but everywhere else.

+ May 7th, 2021MRC Speaks at Virtual Expo South America

On May 6, 2021, Ms. Winnie Ng, Chief Executive Officer & Chief Counsel of the Manhattan Regional Center, spoke at the 2021 Virtual EB-5 & Uglobal Immigration Expo Global RCBI Markets & South America.

She spoke with other experienced immigration attorneys on the panel “EB-5 in 2021: Early and Projected Impacts of The New Biden Administration on EB-5 Processes and Timelines.” Discussions topics included bill S. 831, the EB-5 Reform and Integrity Act of 2021, which was introduced by U.S. Senators Chuck Grassley (R-Iowa) and Patrick Leahy (D-Vt.), and the Citizenship Act of 2021. Ms. Ng expressed optimism about the future of EB-5 and about the new Biden Administration’s pro-immigration approach. She also foresees more positive changes to the EB-5 program, including reauthorization in the near future.

+ March 30th, 2021MRC Speaks at IIUSA Webinar on Brazil

On March 30, 2021, Manhattan Regional Center was one of the panelists at IIUSA Investor Market Webinar Series: Brazil & Latin America and spoke about new proposed EB-5 legislation that among other things provides for active participation of fund administrators adding to the transparency and security for the investors. Please click here to view the EB-5 Reform and Integrity Act of 2021.

+ March 4th, 2021MRC Speaks at IIUSA Webinar on Russia & CIS

On March 4, 2021, Manhattan Regional Center was one of the panelists at IIUSA Investor Market Webinar Series: Russia & CIS and spoke on 2021 investor market trends and due diligence stressing the importance of transparency in the regional center activities and protecting the interests of the investors.

+ February 11th, 2021MRC Speaks on 2021 Investor Market Trends at IIUSA Webinar

On February 11, 2021, Manhattan Regional Center was one of the panelists at IIUSA Investor Market Webinar Series: India & South Asia and spoke on investor market trends and due diligence: challenges and opportunities in 2021, outlook for the Biden administration, and conducting project due diligence for investors.

+ December 28th, 2020EB-5 Program Extended until June 30, 2021

On December 18, 2020, the Congress passed and the President signed a continuing resolution H.J.Res.107) to fund the government (including the EB-5 Program) from December 18 until December 20. Further continuing resolutions extended the government funding from December 20 until December 21 (H.J.Res.110 — became law on December 20, 2020) and from December 21 until December 28 (H.R.1520 – became law on December 22, 2020).

Please also be informed that on December 21, 2020, the House passed Consolidated Appropriations Act, 2021, which was later passed by Senate on December 22, which includes extension of the EB-5 program through June 30, 2021. The bill was signed by President Trump on December 27 and became public law.

Please click here to view the text of the Act.

+ October 1st, 2020EB-5 Program Extended until December 11, 2020

On September 30, 2020 the Senate approved a continuing resolution to fund the government (including the EB-5 Program) from September 30 until December 11, 2020, which the President signed on October 1, 2020. As such, the EB-5 Regional Center Program has been officially extended until December 11, 2020.

+ August 28th, 2020MRC Receives 526 Award from EB5investors

Our regional center has been verified to receive the award:

+ July 24th, 2020USCIS Policy Manual Update regarding Redeployment

On July 24, 2020, USCIS issued an important Policy Manual update that provides long-awaited guidance affecting capital redeployment after the initial capital deployment has been returned to the new commercial enterprise (NCE). Key points to note from this update include:

– Redeployment must be through the same NCE and Regional Center, but does not need to be through the same job creating entity (JCE)

– Redeployment must be within the geographic area of the same Regional Center, but does not need to remain in a targeted employment area (TEA)

– Redeployment can be into any commercial activity that is consistent with the purpose of the NCE

– Redeployment should occur within 12 months to be considered “a reasonable amount of time to further deploy capital” but USCIS will consider evidence showing that a longer period was reasonable

– The purchase of financial instruments traded on secondary markets generally does not satisfy USCIS requirements for initial and further deployment of capital.

For more information, please see Volume 6, Chapter 2 of the Policy Manual.

+ July 14th, 2020Trump’s Executive Order on Hong Kong

On July 14, 2020, President Trump issued an Executive Order to “suspend or eliminate different and preferential treatment for Hong Kong.” The President determined that the Special Administrative Region of Hong Kong is no longer sufficiently autonomous to justify differential treatment in relation to the People’s Republic of China. It means that EB-5 investors who were born in Hong Kong are subject to the Mainland China retrogression line and need to wait for their EB-5 visas to be issued. The Executive Order goes into effect 15 days after issuance unless it is rescinded, amended, or Congress passes legislation to override this Executive Order.

However, the latest August Visa Bulletin had not indicated that Hong Kong-born investors are treated as part of the Mainland China-born yet. As such, it appears that Hong Kong-born investors who have received their I-526 approvals may apply for consular processing or adjustment of status in August.

Please also note that according to the website for the U.S. Consulate General Hong Kong and Macau, it has resumed limited immigrant and nonimmigrant visa services. We hope that investors from Hong Kong can schedule their interviews at the consulate before the Executive Order takes effect.

+ June 16th, 2020IIUSA Discussion with Charlie Oppenheim – Update

On June 16, 2020, Mr. Charlie Oppenheim, Chief, Visa Control and Reporting Division, U.S. Department of State, spoke at the IIUSA webinar and had some important updates about visa usage this fiscal year, the possibility of continuing to have forward movement for visa backlogged countries (India is now current!), and allocating at least 4200 more EB-5 visas for the next fiscal year. He also indicated that Hong Kong will continue to be treated as an independent country on the visa bulletin unless an act of legislation changes this. He also indicated that his previous projections about the time for new applicants to wait in line for a visa was wrong for India, which is the reason why India is now current, and he does not think it will be facing any visa backlog in the near future.

This statement also implies that his projections about the wait times for Mainland China and Vietnamese applicants were also wrong. These are very exciting news for us and for the industry.

+ April 28th, 2020I-526 Approvals in Record Time for the Manhattan 11th Ave Marriott Hotel Project

As of April 28, 2020, we have received twenty-five (25) I-526 Approval Notices for our investors in Manhattan 11th Ave Marriott Hotel Project, with an average processing time of 8.5 months and the shortest processing time as 4.6 months!  We have been informed that our project’s quick processing times have helped many law firms break their record of the shortest I-526 approval time!   Many congratulations to our investors and their families!

Please see below for a breakdown of the average processing times by country:

We are very happy to see that USCIS has been prioritizing adjudication of our project’s I-526 petitions, including petitions from Mainland China!  We look forward to receiving approvals for the rest of our investors in this project soon!

+ November 21st, 2019New EB-5 Rule Now Effective

The EB-5 Immigrant Investor Program Modernization Final Rule is now effective, as of November 21, 2019. Please click here to see the text of the new rule. We are in the process of finalizing the project documents for our upcoming project, which qualifies as a $900,000 Targeted Employment Area (TEA) project under the new rule’s TEA definition.  Please stay tuned for more information about our exciting new project!

+ November 20th, 2019Two MRC EB-5 Projects Closed

On November 20, 2019, we successfully closed two projects: 1) Manhattan 11^th Avenue Marriott Hotel Project and 2) LaGuardia AC by Marriott Hotel Project.  We are grateful to everyone who has supported us in the marketing of these projects! Congratulations to all our investors who obtained a spot in these projects and successfully filed their I-526 petitions before the price increase!  Construction of these projects is going well.  We look forward to inviting everyone to the Grand Opening of these hotels in the near future!

+ November 12th, 2019Manhattan 10th Avenue Courtyard by Marriott Hotel Opened Its Doors

On November 12, 2019, our Manhattan 10^th Avenue Courtyard by Marriott Hotel Project has completed construction, and the hotel has opened its doors for operations! Please click here to view the video.

+ October 28th, 2019MRC Receives IIUSA I-829 Award

On October 28, 2019, MRC was one of the thirteen recipients of the IIUSA I-829 Approval Award, which recognizes our success in receiving I-829 approvals during 2018-2019.  In particular, we have received I-829 approvals for three of our projects: 1) Brooklyn Boulevard Assisted Living Project, 2) The Charles Luxury Condo Project, and 3) Broadway 4D Times Square Theater Project. We are proud of this achievement, which recognizes our effort in putting our investors’ immigration success as our top priority.

Please click here to read the IIUSA article about the I-829 Award Ceremony.

+ August 20th, 2019Our First I-526 Approval Notice for the Manhattan 11th Ave Marriott Hotel Project Received

This week, we received our first I-526 Approval Notice for the Manhattan 11th Ave Marriott Hotel Project. No RFE at all, straight approval in around 18.2 months! This is much faster than the 3-4 years USCIS published averaging processing time today. We expect that other investors’ approvals will soon follow and processing time should be even shorter than the first I-526 approval. Congratulations, Ms. Deng! 

+ August 14th, 2019LaGuardia AC by Marriott Hotel Project Top-Out

On August 14, 2019, we achieved a major milestone for the LGA Project. We are officially topped out.

+ March 29th, 2019One hundred (100) I-526 Approvals for Manhattan 10th Avenue Courtyard by Marriott Hotel Project

As of March 29, 2019, a total of 100  investors of the Manhattan 10th Avenue Courtyard by Marriott Hotel Project had their I-526 petitions approved. The shortest processing time was 10 months! Congratulations to our investors!!!

+ October 17th, 2018I-924 Exemplar Approved for Manhattan 11th Ave Marriott Hotel Project

On October 17, 2018, our Regional Center has received the 11th Ave project’s I-924 exemplar approval! It took just under 9 months for the exemplar to get approved. We believe this will make it faster for our investors to receive their I-526 approvals.

+ October 4th, 2018Early Return of Investor Funds for Brooklyn Blvd Assisted Living Project

We are one of the first regional centers to have a project that has paid investors back early – meaning, not requiring investors to wait until their I-829 petitions are approved (this was what USCIS required before June 14, 2017).

For our Brooklyn Blvd Assisted Living Project, we repaid 35 out of the 36 investors who completed their 2-year conditional green card period (the “Sustainment Period” per the revised USCIS Policy Manual). We paid them back their capital contribution plus preferred return before their I-829 petitions were approved. 32 investors have now I-829 Approvals! (updated on August 24, 2022)

+ August 27th, 2018Over 50% of I-526 Approvals Received for the Manhattan 10th Avenue Courtyard by Marriott Hotel Project

As of August 27, 2018, over 50% of our EB-5 investors for the Manhattan 10th Avenue Courtyard by Marriott Hotel Project have received I-526 approvals! Many of our investors received their approvals well ahead of the current average I-526 case processing time of 18 to 24 months.  The shortest processing time so far is 10 months! Congratulations to our investors and their families!!!

+ June 1st, 2018Thirty-Eight (38) I-526 Approvals for Manhattan 10th Avenue Courtyard by Marriott Hotel Project

As of June 1, 2018, a total of 38 investors of the Manhattan 10th Avenue Courtyard by Marriott Hotel Project had their I-526 petitions approved. It took as little as 11.9 months for one of our investors to obtain approval, while the current estimated I-526 processing time range is 20 to 25.5 months (USCIS Case Processing Times Information Page). Congratulations to our investors!!!

+ April 23rd, 2018Final Action Date for Vietnam Announced

According to the recent U.S. Department of State Visa Bulletin, as of May 1, 2018, only those approved Vietnamese EB-5 investors under the Regional Center Pilot Program whose EB-5 petitions were filed earlier than July 22, 2014 will be able to proceed with the processing of their immigrant visa applications.  

+ March 29th, 2018Six More I-526 Approvals for Manhattan 10th Avenue Courtyard by Marriott Hotel Project

On March 29, 2018, MRC received the six more I-526 approvals for the Manhattan 10th Avenue Courtyard by Marriott Hotel Project! Congratulations to our investors!  All 10 investors who received I-526 approvals so far did not receive any requests for evidence and were approved within 15-18 months, which is under the current processing time of over 24 months!

+ March 27th, 2018First Four I-526 Approvals for Manhattan 10th Avenue Courtyard by Marriott Hotel Project

On March 27, 2018, MRC received the first four I-526 approvals for our investors in the Manhattan 10th Avenue Courtyard by Marriott Hotel Project, establishing investors’ and their family members’ eligibility for classification as EB-5 immigrant investors. Congratulations to our investors!

+ March 23rd, 2018EB-5 Program Extended to September 30, 2018

On March 23, 2018, President Trump signed a $1.3 trillion spending bill which includes extension of the EB-5 Regional Center Program until September 30, 2018.  While proposed legislation almost passed this time, no changes have been made to the program yet.  The minimum investment amount is still $500,000 in a targeted employment area (TEA).

+ January 25th, 2018Six I-829 Approvals for the Charles Condo Project

On January 25, 2018, MRC received the first I-829 approval for The Charles Condo Project, granting status of the unconditional lawful permanent resident of the United States for the investor as well as the investor’s spouse and children. Following our first success, five more investors have obtained their I-829s approvals to date. This project was successfully completed and the required number of jobs had been created.  The condominiums were sold and the EB-5 loan was repaid early.

+ April 5th, 2016First I-526 Approval for LaGuardia AC by Marriott Hotel Project

MRC Receives First I-526 Approval for LaGuardia AC by Marriott Hotel Project.

+ May 5th, 2015Discover NY Project closes

Discover NY closes 16 million (32 investors).

+ April 23rd, 2015More USCIS CPR Approvals for the Brooklyn Blvd Assisted Living Project

4 Conditional Permanent Resident (CPR) approvals from USCIS.

+ March 19th, 2015First CPR Approvals Received for Brooklyn Boulevard Assisted Living Project

First USCIS Conditional Permanent Resident (CPR) project approvals.

+ July 23rd, 2014LaGuardia AC by Marriott Hotel Launches in Shanghai!

LaGuardia AC by Marriott Hotel launches with Westlead Capital!

+ June 27th, 2014Wall Street Holiday Inn Offering Closes with $14M (28 Investors)

+ May 13th, 2014First I-526 Approval Received for Brooklyn Boulevard Assisted Living Project

MRC receives investor I-526 approval for Brooklyn Boulevard Assisted Living Project.

+ April 3rd, 2014Broadway 4D

Manhattan Regional Center receives 63 I-526 approvals for Broadway 4D.  Project well into construction & development.

+ December 12th, 2013Discovery NY

MRC launches Discovery NY: The Experience with Westlead Capital.

+ November 30th, 2012WS Holiday Inn Launches

The new 50-story Holiday Inn will offer 490 rooms, a fitness center and full-service restaurant for guests.

+ October 17th, 2012MRC Receives Approval for Amendment to add NAICS 5122

+ July 7th, 2012The Charles Condo Launches

The Charles launches in China.

+ May 26th, 2012Broadway 4D Launches

Broadway 4D launches in China & Korea.

+ March 26th, 2012Broadway 4D Theater Launched with Westlead Capital Inc.

+ March 9th, 2012Brooklyn Boulevard Assisted Living Project Launches

Brooklyn Boulevard Assisted Living Project launches in China.

+ February 25th, 2012Shanghai Investment Conference with Wailian

Feb 25 – 26th, 2012: Shanghai Investment Conference with Wailian.

+ July 3rd, 2011MRC presentation to investors in China with Henry Global (May 23 – July 3)

+ January 5th, 2011Manhattan Regional Center receives approval by USCIS

On January 5, 2011, USCIS designated Manhattan Regional Ceпter as а Regional Center within the Immigrant Investor Pilot Program.