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Is it important that I-924 applications for regional centres are approved?
Does it mean that the regional centre is reliable?
The USCIS I-924 form, nicknamed "Regional Center Application and Change Application Form", has two functions as the title:
1) Apply for accreditation of regional centres; 2) Apply for the change of the regional center information that has been certified.
In the May 2013 policy memorandum of USCIS, approved regional centers or their associated commercial companies are required to apply to the Immigration Bureau for change through form I-924 if there is a change in the organizational structure or changes in management and capital investment projects.
The application of regional centers involves a wide range of aspects and a large workload, often requiring the collaboration of project parties, regional centers, securities lawyers, immigration lawyers, business planning consulting firms and economists.
When the Immigration Bureau audits an I-924 application, a key point is to ensure that the project has a viable and credible business plan.
However, in order to make the business plan feasible and credible, it is very difficult, because a large-scale project business plan requires a lot of information and data consolidation, and with regional research.
So, in order for the EB-5 Regional Center to really work, the Immigration Bureau tells you that when applying for the project of the Regional Center, you must state whether your project plan is "imaginary" or "real".
With the increasing number of regional centers and the increasing number of I-526 applications, the time wasted by such approval methods and the contradiction of delaying a large number of projects due to lack of funds become more and more intense.
The industry very much hopes that the approval can be divided into two steps.
If I-526 project documents can be standardized and approved, the approval only needs to examine the source of funds, so as to speed up the hearing.
In 2009, the Immigration Bureau launched a "model" application, that is, to give priority to the Immigration Bureau to examine and approve the project documents, in order to reduce the time for the Immigration Bureau to inspect the project documents after I-526. In such applications, the Regional Centre will convey to the Immigration Department the message that "this application is a model application for the project, and all documents and information submitted are authentic and final.
" The I-924 model is pre-approveD.In theory, with one approval, the trial time of I-526 stage will be shortened, and the possibility of being rejected by the Immigration Bureau due to the documentation problems of the project becomes very low.
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